5. Weds 15th Oct: How Not To Be Gazundered
5. Weds 15th Oct: How Not To Be Gazundered (Image 5 of 14)
House prices are dropping, house sales are scarce and buyers are getting ruthless. Yes, gazundering (where your buyer suddenly asks you to drop the price of your home at the very last minute) is on the up. So, how do you avoid this stressful situation? The key is in your own preparedness. Assuming your house is sensibly priced to reflect the current market situation, the best thing you can do is to ensure there are no delays. That means keeping the chain together (a good estate agent can help with this); having your HIPs pack ready for your buyer's solicitor; having all guarantees, details of planning permissions obtained on the property, and even past bills to hand will all help move things along smoothly. It also helps to keep yourself informed about the rest of the chain - has your buyer already lined up their mortgage, are the people you're buying from in a solid situation... and so on. In other words, knowledge and communication together equal power.
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