News — Page 5 of 12

Recent research on fall through rates – occurrences of buyers pulling out of a purchase, leaving behind them broken chains and stressed sellers – has shown a frankly worrying increase.

At Open Property Group we like to make sure we keep our finger on the pulse of what’s happening in the property market, and to say that pulse has been racing lately is an understatement! We all know and appreciate the problems the economy is currently facing. Never in our lifetime has the economy been in such a delicate position with the Government borrowing enormous sums of money to balance the books.

Recently we saw the introduction of the stamp duty holiday helping feed the huge surge in house buying, and now the Government have followed that up with an announcement to help first time buyers. At OPG we have been looking at what that could mean for home buyers.

Why the apparent mismatch and what does that mean if you are wanting to move home?

The Chancellor has given property buyers a wonderful window of opportunity in the shape of a stamp duty holiday but the deal is only for a limited time. Those buying and selling in tandem should act now to stop this money-saving opportunity slipping away.

The impact of Covid19 on the economy and every facet of our lives cannot be under-estimated. Major industries have been decimated, businesses have failed, and the whole world has adjusted to the new situation.

There are numerous methods used when valuing a rented property. Here are some of the determining factors.

It is inevitable that at least 30% of property sales fall through, and usually the circumstances are unforeseen too. When an offer is made on a property, the buyer and seller is not committed until exchange of contracts, which is legally binding.

If someone has left you a property in their will, you can’t take it on or sell it until probate has been granted.

Whether your property had subsidence some years ago or you have only just found out there is a problem, it can be a huge worry if you are hoping to sell and move on.