Why using one firm to buy and sell can pay off
QI’ve just had my offer accepted on a property but the purchase is dependent on me selling my one-bedroom apartment. The agency that I am buying through is trying to convince me it will be advantageous to give him mine to sell too, even though I had already decided on a different firm. Would there really be an advantage to keeping it all with one agency or is it all about their commission?
AThe agency is telling the truth. Keeping it all in house will definitely be advantageous for so many reasons.
Given you are in a chain (no matter how short) you already start off on the back foot, because without selling you cannot buy, so its super important that you have someone that is privy to what is going on with both transactions to enable transparency to the vendor you are buying from.
If there are any delays along the line, which inevitably there will be, you do not want to risk your vendor thinking you’re stalling or possibly pulling out.
When third parties involved like managing agents, at least your agency will be able to feed information through to the vendor of the place you are buying so they are aware of what is actually going on.
The agency will be cautious too in selecting your buyer, searching out someone chain free where possible to lessen the length of the chain.
They will also be able to advise the buyer of your needs regarding timescales, being in a unique position to communicate directly with all parties solicitors too.
This can save an immense amount of time as information can quickly be relayed from one end of the chain to the other.
All in all if you are happy with the agency I would definitely recommend you proceed with them.
That’s not to say another agency wouldn’t be perfectly capable of getting the job done, it’s just it may not run quite as smoothly or exchange and complete as quickly as you would like. Go for it.
Dawn Sandoval of Dawn Sandoval Residential