In The Press… The Times

I was recently interviewed by The Times about how buyers can protect themselves from poor sellers. I suggested a quick exchange and agreeing to a long completion to help give sellers enough time to find something else themselves, as this can help reduce the risk of a seller pulling out of a sale. Sellers can panic that they won’t have time to find a new property so pull out, but if they can get a quick exchange to secure the sale, then a delayed completion date of six to twelve months, this gives them extra time.

‘Rent backs’ are another good option to give sellers time to find the property they want. This is an agreement between the buyer and seller that allows the seller to continue to live in the house after completion in exchange for rental payments for a set period of time. However, it really only works when the buyers are mortgage free, because most residential mortgage providers would not agree to it.

Read the full article here (paywall)