It’s always heart-breaking when a property chain breaks as all your plans are suddenly thrown into disarray. On top of this, you may also lose out financially, if you’ve already had to pay solicitor’s fees, surveyor’s fees and for searches to be carried out.
The downside of traditional property sales
The big disadvantage of selling your house the traditional way is that it’s dependent on the circumstances of a chain of people.
For instance, most people buying a house need some form of mortgage. And with banks and building societies introducing stricter requirements on borrowing, this can be difficult to obtain. If a buyer somewhere in the chain is refused the mortgage they need, the chain collapses.
There are many other reasons for a sale to fall through, including redundancy, a buyer pulling out if the survey reveals expensive repairs are needed, or someone simply changing their mind about moving.
Other problems include gazumping and gazundering. Gazumping is when the seller accepts an offer from one buyer but then takes a higher offer from someone else at the last minute. Gazundering is when a buyer reduces their offer at their last minute, usually just before exchange; if the seller is unable to accept this price reduction, they have no choice but to withdraw from the sale.
How can you avoid chains?
Whatever the reason for a property chain to breakdown, it’s extremely frustrating and costly for the seller. It’s also highly stressful – because if a sale has fallen through once, it can always happen a second or third time. This means living with the uncertainty for months, right up to exchange of contracts.
To try and avoid a lengthy chain, you could try to find a first-time buyer with nothing to sell, although this will limit your pool of buyers. If you find one, fingers crossed the sale will go according to plan.
However, even with first-time buyers, you still face the problem that their circumstances may change, and their mortgage offer could fall through.
Unfortunately, there’s no sure-fire way of avoiding a potential sale from faltering if you go down the traditional route of selling via an estate agent.
Take a new approach to selling your house
The only way to be sure of a fast, predictable sale is to sell for cash. That means no chains and no mortgages. Instead, you receive a straight cash transfer directly into your bank account.
Your property in Farnborough, its surrounding area and local amenities are researched, and a competitive cash offer is constructed based on this information. From a seller’s point of view, it’s a painless, hassle-free process.
Many homeowners in Farnborough are now choosing this method in a bid to avoid estate agents. For them, it’s a way to regain control of the selling process.
If you’re looking for more a more convenient, reliable and faster way to sell your house, then it’s worth investigating the cash sale options available to you. You may find it gives you the freedom and flexibility you need to make those dreams come true.
Would you like advice on selling your house for cash?
Sell Your House Quickly Farnborough provides a professional, reliable and convenient solution to selling your home fast.
Please get in touch with Mark Lloyd at Sell My House Quickly Farnborough if you have any questions, or you want to request a competitive cash offer to buy your property.
Call: 0800 465373
Text/Whats app: 07703 189658
Or simply complete the enquiry form and we will respond by return.