…”What is new, according to James Greenwood, managing director of Stacks Property Search, is that people are househunting without putting their own property on the market. “This is a symptom of a severe lack of homes on the market in most areas, particularly above £1.5m,” he says. “You’ve got people going on fishing expeditions to see if they can find a property they want, but that’s a deeply flawed process. If you haven’t got your place on the market, you’re not in the game.”
The flipside is that some people put their home up for sale, but don’t look until they have received an offer of a certain amount of money. “This is equally daft,” Greenwood says. “Vendors are failing to appreciate that the stamp-duty hike has made their property less valuable than it was before the autumn statement of 2014. There are millions of people who want to move, but they’re spending all their time looking at Rightmove, rather than doing anything about it.”
If you do find yourself in a chain, how can you keep it together? It’s about good management and keeping things moving: make sure your solicitor is on top of searches and surveys, that mortgage valuations are being done to a schedule, and that your agent has done a chain check, verifying that your buyer can proceed and has the funds. You could sign up to seeyourchain.com, a visual online tool that allows agents, buyers and sellers to monitor all stages of a chain (from £2 a month). Greenwood, however, advises you to talk to your agent and solicitor on a daily basis.”
Finding *the* house is often the reason people want a professional property finder on their side, but over 50% of your Buying Agent’s work is post-search – due diligence, negotiation then shepherding through the legal hoops to reach exchange.
See ‘Going the Extra Mile’ for examples of how we’ve helped our clients, and there is more here on our full Service.
According to a new report from Stacks Property Search & Acquisition, despite low property transaction levels, there is still a significant number of properties going to sealed bids. Sealed bids are a device used when demand significantly exceeds supply, especially for a ‘special’ property. It may be a property with compromises, or...
Should you try and gazump on a house? Nobody likes a gazumper – even the selling agents who stand to make more money out of a bigger deal. But they know that gazumping causes huge disruption, and risks the deal going badly wrong. A gazumper is most likely to be a disorganised...
Confused by the property phenomenon of “off-market property”? Consider this. An estate agent rings you and asks if you would like to view a property. You ask them to send you the particulars, but there aren’t any. You look it up on their website – but it’s not there. Are there...
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A holiday home is often an interesting mix of investment and heartfelt connection. You want to use it, but you may well also be keen for others to use it too. We can advise you on what factors to consider in making your decision. And we can then find the perfect holiday home for you to enjoy.
Others say, ‘location, location, location’. We say, ‘location, purpose, price, capital growth, rental returns’… the list goes on. Knowing the market is critical. Local knowledge is key. We ensure all aspects of your investment decision are addressed. Finding, analysing, negotiating, and completing… it’s what we do.
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