When a Life Gives You Lemons… Sell Your Property!

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When a Life Gives You Lemons… Sell Your Property!

The process of moving house is rarely one that passes by without issue. The biggest sticking point tends to be selling your own home, as your house competes with hundreds of other properties for a buyer’s attention. You can find yourself with a house that’s been on the market for months, meaning you have to constantly put your moving plans on hold.

That’s one scenario, and it’s probably the most common – but what if you have the opposite issue?

When a Life Gives You Lemons... Sell Your Property! | UK Lifestyle Blog

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You could find yourself in an impossible situation. You have a buyer. They have visited the house on several occasions, so you know that they are serious. They have been in touch with the likes of Allcott Associates for a survey and have a mortgage in place, so it seems they are full steam ahead. Then they make their offer – and it’s exactly the kind of offer that you wanted – one you’d accept.

The only problem is… you don’t have anywhere to go.

In some ways, it’s the best kind of ‘bad’ scenario. You’ve jumped through the hoop and done the most difficult bit; you now have an offer on the table, so you know exactly the budget that you have for your next property. However, if you’ve done your tour of all the available properties and nothing is revealing itself – what do you do?

When a Life Gives You Lemons... Sell Your Property! | UK Lifestyle Blog

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Step One: Talk To The Buyer

Get in touch with your prospective buyer and explain your problem. Between you, you should be able to iron out a timetable that is acceptable to both parties. For example, they may say their offer is available for 30 days, after which they will withdraw it and look elsewhere.

That means you now have some time to get house-hunting with a serious purpose. Now the clock is running, you may find the urgency of the situation makes you think more clearly. On the flip side, don’t let it make you rush into a deal for “just any house”.

When a Life Gives You Lemons... Sell Your Property! | UK Lifestyle Blog

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On the rare occasion that they’re in a rush, you might have to be honest and say that you don’t have anywhere to go – so you might not be able to accept. There’s a chance this will result in a higher offer.

Step Two: Investigate Your Options

While moving into a temporary rental is not ideal, you have to ask yourself if it makes sense in this scenario. If the offer you have is good, then it might be worth holding onto – even if that means a bit of temporary inconvenience for yourself.

Plenty of estate agents offer properties that are available in the short-term, to cover situations exactly like this. Price it up and see if it would work for you. It’s also worth considering if you could stay with family while you wait.

When a Life Gives You Lemons... Sell Your Property! | UK Lifestyle Blog

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The decision depends on how good the offer is and how the market is. If you’re genuinely fearful this might be the only offer you get for six months, then maybe it’s worth putting yourself out to ensure you keep it.

- Some of the products featured in this post may be affiliated with a company but all views are my own -
2018-01-08T03:33:16+00:00 April 26, 2017|Home Decor|

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