Although there are very few property sales that go through with absolutely no issues at all, and only a small minority that turn into mini-nightmares, in almost every instance the problems that arise are ones that could have been dealt with long before a sale had even been agreed.
The majority of problems that do arise fall into three main categories: legal, structural, and value. So here’s a list of checkpoints that you can undertake to pre-empt the vast majority of problems that could arise.
Get your house in order
First things first: if there are any obvious minor repairs that need doing, do them. Don’t leave it to your buyer’s surveyor to encounter them and then either down-value your property or request further reports from building specialists over the seriousness and cost. It all wastes valuable time and some sellers have lost their buyer over trifling issues that needn’t have come up in the first place, and where the buyer hears alarm bells and doesn’t want to investigate further. Don’t leave anything to chance. And once your property is on the market, make sure it always looks perfect for viewings
Shore up your defences
Having your own structural survey and professional valuation carried out to highlight any potential problem areas that may not be visible to you is well worth considering. As agents, we are here to get you the highest possible price and, particularly for unique properties, often think it’s worth pushing the price a little to see what interest can arise. But we think it would be extremely useful for you to seek a point of view that comes from the “devil’s advocate” side of things, and to see if there is too high a discrepancy between the figures you are quoted from agents, and the figure a chartered surveyor comes up with. You can also use this report to immediately challenge any issues raised by your buyer after their survey. Knowledge and information is power.
Sort out your paperwork
Title deeds and property information forms. You can save precious weeks by getting these in order when you first put your property on the market. Instruct a solicitor or conveyancer and get them to send you the forms you need to fill out that declare, among other things, what fixtures and fittings you are including with your property sale. If you have your property deeds yourself, give them to your solicitor. And if you have a mortgage, get your solicitor to request the deeds from your mortgage company; normally they take a few weeks, so it’s very wise to get onto this as early as you can. And finally, if you live in a leasehold property, inform your managing agent or freeholder that you are selling and find out if they require a fee to answer management enquiries. And ask them to respond promptly to any questions raised and provide buildings insurance and confirmation of accounts.
Of course there are things outside your control that may go wrong, perhaps up or down the chain if there is one. But most issues we encounter are not chain-related and are eminently sortable long before they arise.