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Sale agreement to completion – close monitoring essential

Be it large or small - keeping an agreed sale on the move is key to the success of the Balfours’ team at The Square, Shrewsbury.

Recent sales completed this year include 10 Tudor Gate, Copthorne, Shrewsbury, a six bedroom, new executive home on the market at £550,000 to Maypole Bank, Kenley, a derelict barn for conversion with planning permission for a four bedroom home, marketed with a guide of £200,000.

Head of sales at Balfours, Tim Main, says, “It is important to realise that a sale is not done until it is completed. Vendors tend to think that once a buyer has put in an offer they are virtually sold, but that is not the case. This is where the hard work really begins.”

Mr Main adds: “We work with the vendor every step of the way, to progress the sale, nudging solicitors and follow up any stumbling blocks to ensure progress is made. During the last boom in 2007 conveyancing was regularly coasting through in six weeks. Today it is taking significantly longer, we see it as part of our job to ensure that the sale progresses from agreed to exchanged and completed as quickly as possible.

“The danger is that if a sale does not progress and is delayed the buyer may change their mind for a number of reasons, from finding something else to a change in personal circumstances, pulling out to leave the vendor right back at the start. We look to steer sales to completion, with keys handed over and money in the bank and that is why every sale is followed and closely monitored,” he adds.

End of year completions include: Sycamore Cottage, a modern cottage seven miles south of Shrewsbury, with three en-suite bedrooms, launched to the market in September with a guide price of £495,000. The sale was also completed on Lostford Manor Stables, which provided 21 stables, ten acres and planning for a three bedroom home, marketed with a guide of £375,000.

 

10 tudor Gate main

                                              10 Tudor Gate

Maypole Barn

                                              Maypole Barn

 

 

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