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Top Tips for Preventing a Property Transition from Collapsing

Home Estate Agents / November 9th 2017 / 0 comments

Buying a house is up there with one of the most exciting AND stressful things you can do, but we’re sure you know that already. What can make everything more stressful is the looming idea that your house purchase could collapse at any moment for a whole myriad of reasons.

Obviously, some things will be completely out of your control and unfortunately, your purchase can rely on the seller’s purchase too and theirs relies on another buyer etc etc etc – basically, you’re part of a chain and that chain can fall apart due to someone else.

So, for the majority of fall-throughs, the reasons are understandable – financial difficulties, mortgage issues, personal circumstances, survey issues, disrupted chains.

But there are other reasons why and a lot of them are preventable. Let’s have a look at some tips:

A Solicitor on the same page

Make sure that the solicitor you’ve got working on your property transition is on the ball and committed to the same ideas as you – in terms of speed and efficiency. If your solicitor understands your goals and time-frames then they’ll be doing all they can to help you in a speedy and professional fashion.

Talk to your solicitor a lot and try to work through stumbling blocks or anticipate them arising with assertive action.

Communication is key

Like in most situations, sectors and transitions – communication is probably the most important factor in the success of your property transaction. If everything’s quiet then chase after your solicitor, estate agents or buying agents to find out if everything’s running smoothly – no news doesn’t necessarily mean good news and it’s better to sort of issues than sit on them.

Momentum needs to keep going and creating a strong, healthy relationship with everyone involved in your transaction is important. Be friendly, assertive and keep on top of the transaction.

Avoid miscommunication by arranging weekly updates with your solicitor and agents. You can iron out any problems before they escalate. You’ll help to prevent problems before they get bigger and everyone will have the relevant info they need.

Scheduling

Deciding on target dates for your transition with buyers and sellers can help everyone to work towards a common, agreed goal. This will give everyone involved the motivation to work towards certain objectives and you can all be on the same page. Obviously, there will be problems that can delay completion, but manage your expectations and keep calm and adaptable.

The Art of Diplomacy

A property transition is probably one of the most important purchases you’ll make, so it’s in your interests to help make everything tick over nicely. This means building good relationships based on trust and cooperation. Pick your battles and keep your end-goal in sight.

If you’re looking for any advice on property transitions then get in touch with us at Home EA today.

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