Are you in a position to proceed?
When dealing with any estate agent, one of the questions you will hear time and time again is … What is your current position?
The reason we all ask this question is we are looking to ascertain what your current position is with regards to you progressing further with any purchase transactions.
When a vendor instructs us in the sale of their property, they are usually looking for a nice smooth transaction carried out within prescribed timescales and to fit in with their future plans.
If a sale was to be agreed to a person that wasn’t in a position to proceed then we have no idea on timescales. We don’t fully know their financial situation and more importantly if they have a property to sell, we have no indication as to how long this may take to secure a purchaser.
What puts you into that ‘proceedable position’?
- You are a cash buyer with proof of finance available.
- You are a first time buyer with proof of your deposit available and also a mortgage agreement in principle
- If you are dependent on the sale of your property, you must have your house on the market with a sale agreed (subject to contract) and we will look for confirmation of this from your solicitor
Am I wasting my time viewing if I’m not in a ‘proceedable position’?
The short answer is … More often than not – Yes!
A lot of people start looking at properties,
They will arrange several viewings,
They go and look at a selection of properties,
They find one they fall in love with,
They realise they need to sell their own and end up disappointed.
They then have to arrange for a valuation, which takes time, the property has to go on the market, an epc report, floorplans and photographs have to be sorted, viewings have to be arranged, offers have to be received and one accepted, a sale has to be agreed to someone in a position to proceed and by the time all this has taken place, the original property you saw and fell in love with, has probably been sold to another party who went to view it after you, but were in a position to proceed.
Over the years we have had the same conversation hundreds if not thousands of times about the process of finding your next property and putting yourself in the best position to proceed. Unfortunately it’s a little like the chicken and egg situation, but best advice is definitely generate some interest in your own first.
What do we recommend?
- Simple Question … Do you want to move home, be honest with yourself and answer YES or NO, there is no maybe or possibly, just YES or NO.
- If the answer is NO then quite simply forget all about it, remove all property apps and get the holiday brochures out!
- If your answer was YES and you have decided you want to sell, contact Melissa Berry and arrange your Free Market Appraisal.
- Let us market your property for you until we receive an confirm an acceptable offer.
- Once we are happy with your buyers ability to proceed we will consider your property Sold subject to contract
- You are now in a position to proceed.
You are free to look round at as many properties as there are available which meet your criteria, happy in the knowledge that once you find your ‘dream home’ you are in a position to proceed and submit an offer.
Q. What happens if we don’t find anything, once we have agreed a sale on our own property?
As estate agents we will always act in the best interests of all our clients, you will never be pressurised or put under stress, or it could lead to you withdrawing your property from the market and then we are al back at square 1.
What we would rather do is slow your transaction right down until such time as you find your next property, we will talk to your purchaser and explain your situation, and like you, they will have fallen in love with property, they wont want to lose it and will usually wait for you to find something else.
If we are acting on the sale of your property and know that you are waiting for a certain type of property to come onto the market, then if we are instructed in the sale of a property that we feel may be of interest to you, then you can be confident in the fact you will be one of the first to hear about it.
If you are serious about selling your property and looking for your next dream home, your next step is to arrange your FREE Market Appraisal with Melissa Berry and leave the rest to us