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October 19, 2017

Should I Withdraw my Property following an Offer?

We are often asked by our clients whether they should withdraw their property from the market once an acceptable offer has been made. There are a number of angles on this subject which should be considered in the context of each specific set of circumstances.

Firstly, from an ethical perspective, it could be argued that once you have agreed to sell to someone, you have given them your word, and leaving the property on the market could be regarded as a suggestion that you would renege if a “better” buyer came along.  This can encourage gazumping (where a higher offer is accepted over the original one).

Some vendors would not have a problem with this. However, in practical terms it is often the case that once the original buyer falls away in favour of the new, higher, buyer, the new buyer feels the pressure is off, and they regret having offered more than the market price. Their offer is subsequently reduced (gazundering). This practice often serves to frustrate the vendor and even risks the sale. The first offer is usually the best offer!

However, there is no point in taking your property off the market if your buyer is not in a strong buying position or has a linked transaction. This latter situation reduces the saleability of your home to the saleability of any linked properties, over which you have no control.

So our advice is generally only to remove your property from the market, perhaps for a fixed period of time (say three weeks to keep the pressure on the buyer to perform) until you have confirmation from the buyer’s solicitor that they have no linked sale, and that they have their mortgage agreed in principle with sufficient deposit available.

As always, we’re here to help and happy to advise on any property-related issue.

Andrew Richardson FNAEA MARLA

Director

01243 786316

#Blog #Blogging #Propertyexperts #property #offer

 


 

October 12, 2017

Should I, Shouldn’t I?

The press is currently full of mixed messages about the property market, especially following the Brexit debate, election, etc. Will it rise, will it fall, is it a good or a bad time to move? Fortunately we have remained extremely busy, and find ourselves in need of stock to support this demand.

Such demand may well be the best indicator of the future of the market than any other indicator. People don’t buy unless they feel confident about the future. At this point in time we are in the transitional stage between a Brexit decision having been made, and actually leaving the EU. The real effects of leaving may not actually be felt for some years. Nevertheless, nobody knows what lies around the corner there could be some volatility in store, with potential knock-on consequences to confidence levels. Fortunately interest rates are virtually zero, but what effect a 0.25% eventual rise would have on the national mood is hard to predict.

So if you think that you might consider moving in the next year or two, it might be worth bringing that decision forward to take advantage of the strong demand we currently have. By selling for the highest price the market will currently pay you’d not only maximise your sales price, but you’d also put yourself in a strong buying position when you come to look for your next home. Worth a thought!

A good starting point would be to ask us to provide you with an estimate of your property’s maximum expected price and saleability in the current market which we’d be happy to do without charge. Please feel free to call us on 01243 786316.

Andrew Richardson FNAEA MARLA

Director

01243 786316

#Blog #Properyexperts #propertyblog #selling #property

 

 

 


 

October 7, 2017

Jackson-Stops achieve an average of 99.54% on all sales!

Research completed today concludes that a consistent, reliable estate agent that gives straight forward no-nonsense advice achieves best prices.

Jackson-Stops in Chichester and Arundel have achieved 99.54% of their recommended guide prices this year. Managing Director Andrew Richardson said “In the current climate in the property market of scarce supply and rising demand, good reliable advice is worth every penny. It is very easy for an estate agent to give advice that they believe a vendor “wants to hear”, rather than advice that you can rely on.”

He went on to say “This is clearly the benefit of using a Local Property Expert. But check and make sure that your chosen agent actually IS local. A well-known on-line agent is currently promoting their LPE, but he actually lives, and is based in Gosport-that’s 25 miles away! Hardly local, and barely an Expert!

My team here is southern West Sussex have an average of 17 years’ experience each in selling property in West Sussex. No one in our area can rival that.”

So, if you live in or around Chichester, Arundel, the South Downs or the coast and harbour, and want advice you can rely on call Andrew Richardson on 01243 786316 now.

Source Reapit Estate Agent software 1st January 2017-7th October 2017.

 


 

October 5, 2017

Viewing Time

Most property sellers will recognise the tremendous importance of ensuring that as many prospective buyers as possible see their property. After all, more viewings means more buyer competition thereby maximising your chances of securing the highest price the market will pay.

However, whilst one always has to be fair, there is a lot to be said for strategic viewing! Good agents will advise their clients to be selective when arranging a time for prospective purchasers to view their home. After all, only the person who has lived in the property knows when the best times of day are. Here are a few tips
(read more…)

 


 

September 28, 2017

The Right People

Despite the fact that many people regard estate agents as more or less the same, there are in fact numerous selection criteria on which to judge the good from the bad, and the exciting from the mildly indifferent.

For example, there are many services and innovations which can make a difference to how effectively your property is marketed, and how the subsequent sale is handled. These could be the use of 3D floorplans, subscription to several property portals, 360 degree virtual tours on a particularly impressive website, multi-media window displays, on-line progress tracking, chain management and interactive “for sale” boards to name but a few.

However, despite the advances in technology, which we are typically among the first in the area to embrace, we still believe that it is the people that make or break a service-led industry such as our own.
(read more…)

 


 

September 21, 2017

Marketing the Best

There’s more to property marketing than meets the eye, especially when it comes to character properties.

Good agents will of course advertise extensively on prominent property portals and in the press; although to us, this means large high quality colour adverts, not continually repeated smaller ones the size of a postage stamp! Larger adverts not only draw the buyers’ eye, but also demonstrate the vendor’s commitment to the sale. They are additionally regarded as a “vote of approval” from the agent. Why would an agent spend so much on advertising a property if they thought it was anything other than a highly desirable proposition?
(read more…)

 


 

September 14, 2017

Should I make an Offer?

As a buyer you are in a powerful position, both in terms of the effect your buying decision will have on your own life, and on that of the person from whom you buy.

If a property were some form of commodity like petrol or milk, then you would simply buy the cheapest stock available. However, buying a home is much less mercenary, and emotions run high. (read more…)

 


 

September 5, 2017

The Agent you Prefer – at the Right Price

We know that when choosing the right estate agent to sell your property you have a tremendous choice, and, on the surface, most estate agents appear to do pretty much the same thing!

Indeed, it is probably true to say that any reasonable estate agent could probably find you a buyer, unless of course they are one of those agents who habitually over-value in order to impress you – don’t be fooled by that ruse!
(read more…)

 


 

August 31, 2017

Beware the Undervaluer

We British remain passionate about home ownership. Yet the banks, who are also involved, have burnt their fingers in the past with wildly generous lending and they are keen not to make the same mistake again.

One effect of this, which could affect you if you are currently buying or selling, is the undervaluing bank-appointed valuer!
(read more…)

 


 

August 22, 2017

Home

“Moving House” may be the term we commonly use, but moving HOME is surely a better description for one of life’s more stressful experiences. Few changes in life, other than a relationship, can stir such emotions.

As estate agents, we are effectively “agents of change” and whilst our natural focus might be to help people move in a practical sense, we find we can be most effective when we really empathize with our clients.
(read more…)

 


 

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