My recent blog questioned how sales actually get agreed; a local agent (to me) called to talk me through how his team had handled a recent sale.
The property had incurred structural movement some 10 years ago. Underpinning works had been carried out to a good standard and his vendor had secured subsequent mortgages on the property. On listing the property, they had great interest with many viewings. As a responsible agent and vendor, any viewer was informed of the history, so whilst viewings went well and offers came, within a few days the offers were retracted. The reasons being included ‘I have spoken with parents’; Paul who has moved a lot’; ‘neighbour’ …. you get the picture.
Full Service Agent
The agent decided to call the vendor in to discuss how this could move forward with options being auction, drastically reduce the sale price OR offer anyone interested a structural report. The latter was agreed and it was decided anyone with a genuine interest could pick a surveyor and the vendor would pay this cost. It was stipulated that the buyer had to be present when the survey was carried out. Previous interested parties were contacted and a potential buyer found, a price was agreed subject to structural survey.
On survey day the buyer was present and a few hours later was totally satisfied the property had no risk of further movement. The agents mortgage advisor had secured a quote for building insurance, showing this was not excessive. The deal was done, the agent ensured the vendor did not take a hit on the property value and the purchaser was over the moon they had secured a property with a clean bill of health.
A great example of how a Full Service Agent made a potentially unsalable property SELL.