In the future - Selling a property


My feeling is that buying and selling property is a horrid enough business as it is, without all the characters involved starting to behave like JR. The only thing to do is grit your teeth, keep your fingers crossed, and behave in the way you would like your vendor to treat you.

Anyway, down to practicalities. When you move, should you try to sell first or buy first? Opinions differ over this. Conventional wisdom says that in a rising market you should fix up your purchase first, and then put your house on the market. That way, you'll benefit from the rise in prices over the next month or two until you arrange your sale.

Many people, however, like to get their sale arranged first, preferring the bird-in-the-hand approach. There is also the point that, if you are facing competition from other people for the property you want to buy, you may be more attractive to the vendor than someone who has yet to put his own place on the market.

Some house-owners, who must be the bane of estate agents' lives, keep their property more or less permanently for sale, at an unrealistically high price, just in case they attract an offer at that level.

Selling a house costs more money -almost inevitably. Unless you have a friend round the corner willing to make you an offer, you will have to tell the world that your property's for sale -which costs money whichever way you go about it. The most common way is through an estate agent.


In the future - Moving on


If you thought buying a property was a fairly arduous process, buying and selling can be even worse. Horror stories abound, of 'chains' breaking, of gazumping, and even of 'reverse gazumping' situation where a buyer waits until the last minute and then just before the exchange of contracts, knowing that the person who's selling to him is totally committed to the next stage and couldn't pull out at this point even if he wanted to, suggests that the price be 11000 or whatever less.

Another nightmare can be the so-called 'contract races', where a seller provisionally accepts offers from two or three hopeful buyers and says, 'The first one to arrange mortgage finance and complete preliminary legal processes wins.'

The reasons for doing this are quite . . .... see: In the future - Moving on


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