• With house prices appearing at their highest for some time and with fewer properties available than the number of people seeking to buy, it is important to be in a strong position when attempting to purchase.
• Over the past couple of years there has been a trend of the vendor moving into a rental to ensure an easier sale of their home before finding a new one to purchase. This move effectively stops the “chain” and the possibility of the sale falling through altogether.
• The other trend is that having got the sale agreed but with no new purchase on the horizon, the vendor moves into rented property giving him or her time to look for the right property to buy.
• There is one key advantage of a Seller becoming a temporary tenant, when coming to purchase a new home, they are a stronger candidate as they have no Chain and become a high deposit/ Cash Buyer putting them in the best position.
• Our sales director Edward Godfrey says;
“There is a strong demand for properties in the area, so if you are looking for a property to purchase you must be in the best position possible in order to be considered a viable buyer, which means either being a cash buyer – i.e. no mortgage needed and no chain – or, having already sold a home and with a mortgage in place with no chain. Both these positions ensure a fast and effective purchase.”