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Buyers
tell us that some estate agents waste an inordinate amount of time
showing property that is either too expensive or blatantly wrong in
other critical ways.
Additionally,
more than 30% of UK property-sales fall through due to buyer or seller
suddenly changing their minds. Both these annoyances could be attributed
to the agent not having gained a good understanding of buyer/sellers
requirements, and/or not having earned the trust required to secure this
understanding.
However,
it would be beneficial to agent, buyer and seller if a few fundamental
issues were addressed prior to agreeing terms, which will help avoid
false starts, additional expense and wasted time:
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Ensure
that you get your finances in order and know exactly how much you
can borrow, with an “in principle” agreement from your lender.
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Before
viewing properties understand the difference between your preferred
“wants” and absolute “needs”.
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Locations
can vary from one street to the next, and at different times of day.
Consider school runs and pub times.
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Do
not make an offer on a property unless you are absolutely serious
about making it your home. The seller’s expectations will be
raised and you could damage your reputation as a genuine purchaser.
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Don’t
lie about your home. Be upfront about any defects or the reason for
moving if you are to speed up the sale and reduce stress.
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Don’t
ignore the facts. If your home has been on the market for several
months, it is likely to be overpriced. Promptly reposition it in the
market before it goes stale.
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If
you’re unhappy with your agent – say so! Don’t be afraid to
change agents, being careful to note any onerous contract terms, and
don’t change more than once, or people with think it’s the
property – not the agent!
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