Why us­ing one firm to buy and sell can pay off

The Wharf - - Property -

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

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