Lifestyle

How To Reduce The Risks Of Losing A Property Purchase At The Last Minute

Few things take a more significant toll on your blood pressure and general headspace than buying a house! By the end stages of the process, you’ll likely be pulling your hair out, but one thing will most likely get you through – the dream of finally setting foot in that house!

This is probably a property you’ve fallen in love with, after all, and you want nothing more than to make yourself at home there. So you sit through the stress, wait the long wait, and probably don’t breathe again until you’ve got the keys in your hands.

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Unfortunately, things don’t always go to plan, and a house can fall through even after you think the worst is behind you. That can be a huge blow for everyone involved, and it’s a reality you’ll want to avoid at all costs. Luckily, there are steps you can take to do precisely that, and we’re going to consider them here.

Be Upfront

Uncovering negative things about a potential property is one of the main reasons why home buyers pull out, and it’s something you can avoid by simply being upfront. This is especially important if there are hidden issues, such as damp or structural problems.

The sooner your buyers know about these things, the better prepared they’ll be to put indemnities in place or seek professional quotes. But, if you try to hide things, problems that crop up during a survey or last-minute searches are much more likely to cost you a sale that you thought was a done deal.

Choose a Locally Experienced Team

The team you choose to work with can also help you to avoid last-minute sale collapses. This is because a quality team will be proactive, ensuring that there are no unexpected delays or last-minute surprises. They’ll also be in full communication with your buyer’s team and will be able to warn you of any upcoming problems long before a sudden problem leads to total fallout.

Seeking professional support for property sales from a locally-based solicitor estate agent is especially beneficial, as it ensures dedicated, one-source advice that’s fully in keeping with local markets and regulations. That way, there’s far less chance of a costly hitch at any stage, especially those last weeks and days.

Get Organised

It’s also down to you to get organised and think of everything your solicitor team needs to do their jobs, such as insurance documents, guarantees, and deeds. The more organised you are, the easier it’ll be to spot any gaps or issues early in the process, when there’s plenty of time to address them.

Organisation also ensures that you don’t unduly hold up much-needed finalisations, which could serve as a red flag for buyers who, if you make them wait too long on crucial information such as planning permission documents, may assume it’s easier to pull out while they still have time.

Buying a house is stressful, but you can make it less so by avoiding last-minute pull-outs using these vital tips. 

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