West Midlands Vendors – Don’t Sabotage Your House Sale
Selling your home is a challenging process, and many vendors have come across problems. Try to avoid sabotaging your sale.
Gazundering is a genuine threat
The HomeOwners Alliance describes gazundering as; "Gazundering is a practise whereby a buyer lowers their offer at the last minute, just before contracts are exchanged. Sellers, conscious of the fact refusing the new lower offer could mean they are back at square one and an entire chain falling apart, often feel forced to accept."
Bear in mind, gazundering is not illegal, even if it doesn't seem fair.
Steps you can take to minimise the likelihood of gazundering:
Annoyingly, there are times when property deals collapse through no fault of the buyer or vendor. If there is a property chain, an issue elsewhere in the chain can result in your property deal falling through.
While there isn't too much you can do about any other people's problems, you can undertake a few steps to ensure you are well placed in case a problem arises. Tips to consider include:
Selling your home is a challenging process, and if there are delays, it can be highly frustrating. However, given the legal complexities of the transaction, delays are likely. Also, with people involved, human elements come into play.
When preparing for the sales process, consider the following tips:
Overcome small disputes
Sometimes there will be irretrievable differences between a buyer and vendor which means a deal will collapse. However, quite often the differences between the two parties are minimal, and with some negotiation, can be resolved.
As a vendor, you should consider:
We know these are challenging times, but at Innovate, we are here to help. If you have questions about the West Midlands property and rental market, get in touch with Innovate, and we will be happy to assist you.