House chains. Who would have them? They’re a headache that can quickly lead to losing your dream property. When it comes to roller coasters in real estate, this is the beast everyone dreads riding.
The sad fact is, a chain in real estate is a delicate thing. And, completion depends on everyone’s paperwork coming together. One person pulling out can lead the whole thing to crumble. And, delays in paperwork can mean nothing works the way it should. When you think about it, it’s amazing anyone manages to buy a house in the first place.
Alas, they do, because more often than not things manage to come together. Still, we’ve all been on the wrong end of a weak buyer link at some stage. It’s frustrating. Which is why, when it comes to buying, you should do everything to ensure you don’t fall guilty of that crime. Of course, to some extent, you’re hostage to solicitors and mortgage brokers. But, there are things you can do to ensure you don’t let the team down. And, we’re going to look at what they are.
Something about your survey
Most of us take care of home improvements before putting our homes on the market. All the better for getting a good deal and surviving the survey. But, some of us think we know better and list our houses in haste, assuming everything will be fine. If you make this mistake, though, you can bet the survey will pull up a few skeletons. If that happens, delays are inevitable. As well as risking your sale, a lousy survey means more paperwork and revised offers. And, that’s sure to impact everyone in your chain. Make sure it doesn’t happen by doing a personal survey before you even put your house on the market.
Titles and houses are always complicated. For obvious reasons, you can’t sell a home unless your name is on the deeds. This is often a standard aspect you won’t have to worry about. But, if you inherited a house, for example, matters might not be so simple. Inheritance doesn’t automatically lead to deeds. And, you might not even notice that until your solicitors let you know. If you have any concerns in this area, do checks ahead of time. If you aren’t the title owner, you’ll need to contact a company like Estate Planning of Honolulu LLLC, where you’ll find probate attorneys who can help with that exact issue. But, this kind of thing takes time. Take care of it before selling so you don’t leave everyone waiting.
Did you forget your finances?
You should also make sure that start your mortgage process before putting an offer in. Many people offer money they don’t yet have, assuming they can get it before anyone notices. But, mortgage approval can take a while. And, not having that all important confirmation when solicitors ask for it is a real buyer’s faux pas. So, don’t get greedy. Sort your money, then your home.
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