Did you know that moving home is considered one of the hardest life changes you could ever make? And, unfortunately, there are some people out there who want to make it harder.
This is because there’s a lot of money involved in the property market, and if you’re not careful, you could end up in a difficult situation where you end up being stung.
So to help you avoid two of the biggest problems facing renters and sellers, here’s what you need to keep an eye out for.
Beware pushy estate agents
One of the most common and negative practices that estate agents often use, is pushing people towards renting properties they don’t want. This is common in London, where the rental market’s competitive and estate agents receive a big portion of their wage through commission.
For example, if a landlord lists a property with an estate agent, the agency will receive fees and money if they fill the property with tenants. And even if the property is unpleasant and unsuitable, some estate agents will do their best to get you to agree to move in, as they will know that nobody else is likely to.
The agent might say things like: ‘We’ll lose this property in a couple of days as there’s so much interest in it.” But it’s probably far from the truth, which is why you should never feel pressured to view or agree to move into a property.
No matter what an estate agent says, there’ll be a property out there that’s perfect for you, you just need to remember that not every estate agent will have it on their books. So don’t settle for less!
Beware sneaky buyers
Over the past few years, some buyers have started to use a tactic to cut thousands of pounds off the cost of buying a house. They do this by going all the way through the process of buying your home, meaning the fee is agreed and 99% of the paper work is done.
Then, at the last second before contacts are exchanged, the buyer will threaten to pull out of the sale unless you agree to drop the price by thousands of pounds. This can cause huge problems especially when you’re in a chain and you’ve already bought the house you’re planning on moving into.
But you can protect against this early on in the sale process.
Make your estate agent aware that you won’t reduce the price of the property once a fee is agreed and that the agent should not even pass on any messages from the buyer if they attempt to use a tactic like we’ve explained. This will put buyers off from trying any funny business.
As you’ll already know, moving home involves making big decisions. So take your time, be up front with the estate agent and be on the lookout for anything dodgy and you should sail into the next chapter of your life happily.