Moving house can be stressful and expensive enough, without the added headache of your sale falling through even after you’ve had an offer accepted.
New research reveals that more than a quarter (28 per cent) of home buyers have had a house sale fall through after the buyer had accepted their offer.
And according to a survey of 2,000 homebuyers by Which? Mortgage Advisers – reneging on property deals is leaving people almost £3,000 out of pocket on average.
The main reason for deals falling through (27 per cent) was the seller suddenly deciding they didn’t actually want to sell.
Meanwhile, 21 per cent of buyers said they were cheekily gazumped, with their seller accepting a higher bid, despite their offer having already been accepted.
However, there is a cast iron way of ensuring that your precious link in the selling and moving chain remains intact – by using a scheme that guarantees you a buyer for your existing property - Part Exchange.
There are many advantages to using the part exchange scheme; there is no chain, valuations are obtained on your behalf, the new homes developer deals directly with the estate agent, and usually results in a quick sale.
All this leaves you free to reserve the new home of your choice.
Linden Homes North has been running its successful part exchange scheme for many years – helping numerous customers from across the region in their hassle-free journey towards a brand new home, by becoming their guaranteed buyer for their existing house.
Sales director Steve Woomble said: “There seems to be no let up in the popularity of part exchange – particularly as more and more customers recognise the huge benefits in using this route towards their dream home.
“This is a fantastic scheme for homeowners who have an existing property to sell and are looking for peace of mind that they have a buyer who is not going to pull out on them at the last minute – as the figures from this recent study seem to show.”
She added: “We have some fabulous homes eligible under the scheme at developments throughout the region, which for many could be the key to an achievable move to a new home.
“What could be simpler or easier with our hectic lifestyles than part exchange!”
If you are a homeowner and are eligible for part exchange, here’s how it works:
- Linden Homes will arrange for at least three independent valuations of your existing home and will make you an offer based on their suggestions.
- Once you agree the offer, and subject to satisfactory surveys, Linden Homes becomes your cash buyer, freeing you up to place your reservation on your new home.
- Stay in your old home until your new one is ready to move in to.
- After that, it's a case of setting a moving-in date, boxing up your things, and basking in the relief of a quick chain-free move to the home of your dreams.
Linden Homes North is currently building at locations in East Riding, North, South and West Yorkshire.
Meanwhile, the survey also revealed that sellers are not solely responsible for deals suddenly coming to an end.
Around one in five deals that fell through were as a result of the buyer not being able to complete because the sale of their own property had fallen flat.
In addition, 21 per cent of sales fell through due to the buyer deciding they would actually prefer another property instead.
-ENDS-
For further press information please contact Cetti Long at Media Matters on 01733 371363 or email cetti@mediamatters-pr.co.uk
