Property Solutions to Sell Your House Fast For Market Value
There is no difference between property terms “Under Offer” and “Sold STC” (Sold Subject to Contract) as they really mean the same thing. Estate agents will use these terms interchangeably and they both mean that an offer has been accepted by the vendors, but that contracts have yet to be exchanged.
You should only buy a house near power lines or pylons if you accept how they look and with the still unconfirmed risks associated with electrical magnetic fields and links to cancer. Some studies show links to childhood leukaemia which will put buyers off and some don’t like the look of powerlines.
If you get your timing right you can negotiate up to 20-30% below the developers asking price of a new build house. But this depends on the property’s location and the strength of the housing market. If you can move fast and it’s the last one or two houses left, the more chances of haggling more.
Gazumping is not illegal in England and Wales and sellers can accept offers from another buyer “the gazumper” and not sell to the original buyer until contracts have been exchanged. The original buyer can increase their offer to stop being gazumped, but may not be able to afford a higher offer.
You can still make an offer on a house that is under offer or “sold subject to contract”, as the buyer and seller are not legally bound to proceed at this stage. Houses in England and Wales are still technically available until all the paperwork has been signed and contracts are exchanged.
New homes often lose value immediately after buying the property, which is similar to buying a new car. This is because new homes tend to be priced higher to cater to those homebuyers who like to buy new homes. The loss suffered when buying a new home is made worse with the Help to Buy scheme.
