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In a strong effort to offer our buyers and sellers peace of mind, we have decided to help you take the stress out of the one thing that comes before actually moving; securing your sale.
Too many times have we seen buyers or sellers disappointed as they reach crucial hurdles in their property sale, only to be let down by the other party, who change their mind and pull out to because they have changed their mind, decided to sell to another buyer at a higher price (gazump) or negotiate the price down (gazunder). This leaves a wave of emotion, not to mention the fading efforts to start over on their search and hope the same thing doesn't happen again.
With that in mind, we decided it was time for a change. Sandersons 'Secure Sale' will see the risk of you being entangled in such a situation very low.
The launch of Sandersons Secure Sale
We keep on top of sales as a priority at Sandersons with a dedicated, in-house progression team of specialists working solely on driving the transactions forward. This holds chains together, helps solve enquiries, keeps all parties updated without the sale becoming stagnant. Some factors are however out of our control, like one party just changing their mind because they have had a change of heart.
To reduce the risk of sales falling through, we have launched Secure Sale with the use of Digital Reservation Agreements and Upfront Seller Information. This was designed with you in mind, and seeks to look after you by reducing the risk of the sale collapsing.
The reservation agreement changes the way people buy and sell properties offering full peace of mind for all parties, so it was only natural for us to want to be a part of it. A Reservation Agreement between the buyer and seller ensures the buyers right to purchase a property, and the seller agrees not to sell to another party. It offers a higher level of certainty to customers, preventing either party from simply walking away or attempting to negotiate the price after an offer on a property is accepted.
This process is secure, with both buyer and seller signing the agreement. Only then, the property is formally withdrawn from the market, with both being bound by the terms within. The sale is left then to proceed, but if any party walks away from the agreement, it is broken and the innocent party is entitled to a compensation payout.
Entering into a Reservation Agreement is also advice given in line with the UK Government's 'How to sell guide', and is underwritten by The Law Society. We are among the first agents in Kent to embrace being 'Sale Ready,' considering it now to be standard on all property sales. It means key legal information about a property is completed before marketing begins, ensuring all legal paperwork is completed, in a shorter time frame. This also gives the buyer all the information they need about a property before making an offer. It therefore gives a committed buyer the confidence to enter into a reservation agreement.
We are fully supportive of the security and peace of mind our Secure Sale will give both parties.
What does our Secure Sale agreement mean for you?
If you were considering buying your dream home, you might be putting it off. It's fairly common to hold off on your decision for varying reasons, and much of the time it is the risk of being gazumped and pushed out of the sale altogether. Buying a house is a huge move in itself, and an entire chain can be rocked by one poor decision that so far has been able to occur.
Although it is still currently legal for sellers to accept another higher offer after they have accepted yours. Or for your buyer to change their mind and offer on another property, using secure sale does demonstrate to all parties that there is a commitment to complete the sale of the property. If they don’t for any reason, there is compensation towards any losses. Our Secure Sale agreement substantially reduces that risk, and we hope it creates a new wave of smooth exchanges.
Get in touch if you'd like more information. We would love to help you find the property of your dreams.
