The Weakest Link?
Many property transactions form part of a chain of related sales. Of course a chain is only as strong as its weakest link and, as a national statistic, unfortunately one in every three chains will fall apart, often at the eleventh hour. This happens for a variety of reasons from one party’s mortgage glitch to an unpleasant surprise in another’s survey or title enquiries.
However, the most common factor affecting a chain breaking down is simply the opportunity for one party or another to pull out on a whim. This opportunity can often extend to several weeks under the current property buying system in the UK. “Buyer remorse” is a recognised syndrome, where buyers worry that they might not have made the right decision and their commitment wavers. Without any form of pre-contract commitment, the problem is likely to be with us for some time.
Well-trained estate agents are able to spot the signs of buyer remorse early on and minimise its effects. More importantly, we go to great lengths to ensure that a chain not only remains intact, often by our involvement several links away, but also that the time between finding a buyer and exchange of contracts is reduced to the absolute minimum. As part of a successful legal practice with a strong conveyancing arm we are ideally placed to ensure that our clients never become the weakest link.
Communication is the key, and we urge all our buyers and sellers to be as open with us as possible so that we can use our skills to facilitate a sale that is as swift, productive and hassle-free as possible.
Finding a buyer for your property is often the easy part, but selecting an estate agent with its own conveyancing department who will ensure the sale actually goes through is just as critical. Please feel free to call us for an initial chat over a coffee without any obligation.