“We lost our dream home because the sale of our house fell through after three months and we lost all our solicitors fees!”
This is a very common situation faced by many people in the UK while buying and selling their properties. This is called a chain, which is where you are stuck and depend on someone else to sell their house first before they can buy your house. Often the chain is broken - and the sale falls through leaving you in a sticky situation.
Some of the reasons may be:
• Relocation
• Found a new home
• Moving abroad
• Redundancy / unemployment
• Facing repossession
• Facing bankruptcy / severe cash flow problems
• Selling through an estate agent:
One of the good things about working with agents is that generally they would price the property towards the higher side and put it on the market as a bit more than it’s actually worth and they hope to get you the very (very) best price.
On the downside, of course, you have to keep your house really like a show home and you’ve got no idea how long that’s going to be and there is absolutely no certainty, you might be lucky and sell it in 2 months, you might be unlucky and still have it on the market still in a year’s time and really there is no certainty with that.
Even if you get offers placed for your property, this does not mean a sale is guaranteed. The potential buyers will still have to apply for a mortgage, which is not a quick process. Applying for a mortgage takes time and there is no guarantee that the application is successful.
Another obstacle is with the less-than-efficient conveyancing from most solicitors, it could be many months before your property eventually gets sold.
And of course you have to consider the failure rate of selling through estate agents, as it is still a fact that 35% of all sales in the UK, through agents, collapse through broken from chains.
This might mean that you actually spend a lot of money and time, only for the whole thing to just collapse.
Agents are good when it comes to potentially finding the best price if you are able to do it but if you want speed and certainty and you really don’t want the hassle then you really don’t want to involve agents.
So what should you do now? Put it back on the market and start the process all over again or get a bridging loan that will cost you so much just so that you can move into that dream home?
The surest way to sell your property quickly is to sell it for cash.
At YourPropertyCASHBuyers, we have buyers ready who can pay cash for your property. There is no hassle and no fuss. You will receive an offer within 48 hours just after one viewing. This offer guarantees a completion within 28 days or any day that suits you best.
