Buying and selling a home can be an emotional rollercoaster, especially when you’re navigating a property chain. Chains are common in property transactions, involving multiple buyers and sellers linked together as they each buy and sell properties. For example, at one end of the chain, there may be a first-time buyer who isn’t selling a property, while at the other end, there might be someone selling an empty property, such as a new build or an investment property.
No matter the length of the chain, there are proactive steps you can take to help ensure everything keeps moving smoothly. Here’s how:
1. Communicate Clearly and Often
Good communication is the backbone of a smooth property transaction. If delays occur, reach out to your estate agent or solicitor to understand what’s causing the holdup. In some cases, they may even facilitate direct contact with the party causing the delay, allowing you to address any issues collaboratively.
Diplomacy is key here—approaching conversations with understanding and patience will yield better results than making demands. Always ask for clear timelines and follow up to ensure these are met.
2. Stay Organised and Accountable
A successful transaction begins with ensuring you aren’t the source of delays. While some things will be out of your control, it’s vital to stay on top of your responsibilities.
Make it a daily habit to review emails, messages, and documents to ensure you’ve completed everything required of you. Setting aside a short amount of time each day for this can prevent small tasks from slipping through the cracks and causing unnecessary delays.
3. Be Prepared in Advance
Preparation saves time. For instance, securing your mortgage offer as early as possible can eliminate one common cause of delay. Mortgage providers require thorough documentation, so be ready to supply bank statements, details of outstanding finance, and proof of income.
If needed, consider clearing credit card balances or paying off loans to strengthen your application. The earlier you organise these details, the more efficiently the process can move forward.
4. Stay in the Loop
Utilise these tools to stay informed and ensure you’re aware of any updates, decisions, or actions needed on your part. Regular updates can also help you anticipate and address any potential issues before they escalate.
While we’ve already touched on communication, it’s worth reiterating that staying connected with your estate agent and solicitor is essential. Many modern firms offer flexible communication options, including evening and weekend hours, email, text messaging, and online portals where you can track progress.
Navigating a property chain may have its challenges, but by staying proactive, prepared, and communicative, you can help keep the process moving smoothly.
If you’re looking to sell your property, we’d be delighted to offer you a free market appraisal. Contact your local Fisher and Partners managing partner today, and let’s set up a time to chat. We’d be delighted to hear from you.
