How to avoid delays when selling your home
Putting your home on the market can be exciting, but it can also be a stressful and uncertain time. Delays are common and frustrating, and in some cases a sale may fall through after months of time, effort and expense.
The Government has recently announced reforms designed to make the home buying and selling process faster and more transparent. The proposed changes would require key information to be provided earlier, including details about the property’s condition, leasehold costs and the position of the chain.
While these reforms are being developed, sellers can take practical steps now to reduce delays and make their move as smooth as possible.
Honesty is the best policy
Being open about known issues from the outset can prevent unwelcome surprises later in the sale. This might include historic subsidence investigations, previous structural work, damp, or boundary disputes. If a survey or legal enquiry uncovers an issue later, the sale may be delayed, the price may need to be renegotiated or, in the worst case, the buyer may withdraw. For some properties, commissioning a pre-sale survey may be worthwhile. Identifying potential problems before marketing your home gives you time to investigate them and, where possible, resolve them.
Choose proactive experts
The professionals you employ can make a significant difference to how smoothly your sale progresses. A proactive estate agent should do more than simply market your property.
At Michael Graham, we communicate regularly with you, your buyer and the other professionals involved throughout the sale. This ongoing dialogue helps us identify potential obstacles early and address them before they cause delays.
Finances and source of funds forms
At Michael Graham, we carry out source of funds checks to establish that a buyer has the finances available to proceed with their purchase. We ask to see evidence such as bank statements or a mortgage agreement in principle before accepting an offer. Source of funds is different from source of wealth, which is when buyers are receiving financial help from parents, grandparents, other relatives or friends. In that case, the person providing the money may need to provide evidence to the buyer’s solicitor, such as bank statements, investment records, share certificates, ISA statements or other documentation. These checks can take time, particularly if the person providing the money is not directly involved in the transaction and is not expecting to be contacted until later in the process. If a buyer knows from the outset that a family member or other third party providing financial assistance will also need to provide information, they can gather the necessary documents early.
At Michael Graham, your agent will work with the buyer and their solicitor to help ensure that everyone understands what is required and provide that information as promptly as possible.
Prepare your paperwork early
Gathering the relevant paperwork before you put your property on the market is one of the simplest ways to prevent delays. This may include title documents, planning permissions and building regulations certificates, documentation relating to extensions or alterations, and information about boundaries or rights of way. Even missing documentation relating to a new boiler will hold up the sale. Have it ready in advance.
Arrange searches and leasehold information promptly
Starting the necessary searches early can help keep the transaction moving. For leasehold properties, information from the freeholder or managing agent can take longer than expected to obtain, including details of service charges and ground rent, planned major works, building insurance, management arrangements and other lease-related matters. Delays in receiving this information can slow the legal process, so it is worth requesting it as soon as possible.
At Michael Graham, we can advise you on the documents and searches relevant to your property.
Set a realistic asking price
Setting a high asking price to create room for negotiation can ultimately work against you. A property that remains on the market for too long may become harder to sell, as buyers begin to question why it has not attracted an offer. A realistic price is more likely to generate interest from serious buyers and build momentum from the outset, particularly in a market where buyers have more choice.
At Michael Graham, we provide an honest assessment of your property’s likely market value, based on comparable sales, current demand and local market conditions.
Keep communication clear and consistent
Once an offer has been accepted, multiple parties need regular updates, namely the buyer, seller, conveyancer, mortgage lender, surveyor and sometimes managing agent or freeholder. Even when everything relating to your own property is in order, delays elsewhere in the chain can affect your move. For example, another buyer may still be arranging a mortgage or waiting to sell their property.
At Michael Graham, we actively manage the chain and maintain communication between everyone involved. This helps resolve issues promptly, keeps the transaction moving and ensures all parties remain focused on exchange and completion.
Be moving day ready
Finally, make sure you are ready to move when your buyer is ready. Start decluttering and book removers while the legal work is underway. If you are buying another property, make sure your own finances and paperwork are progressing at the same time. Planning ahead will help you avoid a last-minute rush and keep your move stress-free and on schedule
Expert support from valuation to completion
No estate agent can prevent every delay, but careful preparation and proactive management can greatly reduce the risk of problems disrupting your move.
At Michael Graham, we believe that selling a property involves much more than finding a buyer. Our team actively manages the process, keeps everyone informed and works closely with conveyancers and other professionals to help the transaction progress smoothly.
If you are preparing to sell and would like expert guidance from valuation through to completion, contact your local Michael Graham office. We would be delighted to explain how our approach can make your move smoother and more straightforward.
