Selling a house is a huge happening for many people but personal circumstances can of course change so quickly. With such a significant deal in the offing it can be incredibly inconvenient when a detail, however big or small, threatens to scupper the agreement. There are however many reasons why you may want to back out of selling your house. Often there are a number of people who are involved and valuations can naturally differ from one individual to another.
As either the seller or the buyer you could be locked in a scenario in which a sale you are trying to make impacts massively on the property you are trying to purchase. When there is a chain like this it leaves much more margin for error and it is understandable for the seller to want to complete a deal with whoever makes the highest offer.
The exchange of contracts is the crucial phase and the legal settlement. You have the right to back out of the sale at any point prior to this but not after the contracts have been signed. If you make an attempt to cancel after the sale then you can be sued by the buyer and it is likely to be a costly process for you.
Certain tenants can be a disruption when you try to sell a property and the misinformation that exists around this issue makes it an area of uncertainty for some people. It is certainly a tough process if you approach it in the wrong way so you firstly have to check over the tenancy agreement that you have in place.
Sitting tenants are those who are renting without a tenancy agreement and it is worth noting that it is difficult to avoid losing money on the sale of your property if it has tenants. The least problematic way to go about it is to give them notice of at least a month and to keep them informed throughout the process, even offering them first option on buying the place from you.
You may however be required to issue them with a Section 21 notice if you have any trouble in getting them to vacate the property. If you can avoid needing to evict them in this way then it is worth it but two months after issuing the notice you will be eligible to apply for a court order to remove them.
The specific circumstances behind someone selling their home can vary significantly. Whether a fresh start elsewhere is the motivation, or if the decision has been taken out of their hands through job relocation for example, moving home is a highly significant occurrence in a person’s life. Although one component of moving house that is more ‘concrete’ is that it is necessary to prepare the property for the whole process.
It can be somewhat difficult continuing to live somewhere in between showing prospective buyers around the place and items that are very personal to you, such as family photographs, may need to be taken down in order for the interested party to make a proper assessment of the property.
Making the space less personal, for the time being at least, is a theme that you should try to stick to if you have a viewing, so if there are certain products in the bedroom and bathroom it is advisable to store them away.
Make sure that the outside area of your home is as tidy as possible, including the hedge, the lawn, the driveway and also the windows. It is important to show the property at its very best and to accentuate all the possibilities that it holds so the buyer will be suitably enticed. An extremely useful tip to keep in mind is to take a step back outside your home and think about how it makes you feel and how it may be perceived by others.