RAH Magazine Cover April 2018

CHAIN REACTION:
take the stress out of
buying and selling
So how do we make sure a chain stays
together? Well, here is my list of top tips to
ensure a smooth sale.
Paperwork, paperwork,
paperwork. If you are selling,
get your initial paperwork
done early – a solicitor
cannot send out a draft
contract until you have filled
out the forms they need to
check you are who you say
you are. There is no point insisting on a fast
exchange of contracts if you delay the start
of the process.
“Many people think
they have sold when
they accept an offer.”
If you’ve had work done to the house, make
sure you have the guarantees or building
regulation sign-off to prove that everything
has been completed properly.
On the buyer’s side, providing the right
paperwork on time is key to getting a
mortgage offer quickly. Mortgage offers take
more time than you think. If that utility bill is
out of date by the time you send it, you will
have to start again
I was recently asked what was the biggest
property chain I’ve found myself working in?
Last year our Cambridge office had a chain with
12 properties. Agreed, that is pretty unusual, but
this particular deal was a split chain where one of
the couples in the chain each had a house to sell,
adding to the numbers involved.
That’s 12 different sets of buyers (20 individuals,
as many were couples), 12 surveyors, 12 solicitors
and countless chances for the deals to fall flat.
Jane Bailey,
Cambridge Office
It wasn’t the most straightforward. but we got
that deal over the line. It was nice to hear from
our client afterwards that they felt it definitely
wouldn’t have gone through without us.
Many people think they have sold when they
accept an offer. However, until contracts have
been exchanged, either side can pull out of the
sale, buyer or seller. And, across the country,
35% of agreed sales fall through, not only causing
distress to at least one side but also incurring
expensive solicitor and surveyor fees.
Communication is king. With a chain,
making sure that milestones are reached at
the right time is vital. With the rise of online
estate agents and solicitors, talking to a
real person about eliminating a blockage in
the sales pipeline is becoming more
and more difficult. Having someone
on your side who can talk to (and
badger) the different estate agents,
solicitors, surveyors and other
professionals is really important
Don’t underestimate the importance of
your agent’s office. This is the place that
surveyors come to get access to conduct
the survey. It is also the place where keys
can be held, ready to be handed over to the
buyer as soon as completion takes place.
Having someone on hand who knows the
sale inside out, definitely helps to keep
things on track.
“Mortgage offers
take more time
than you think.”
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