When it comes to buying and selling property, we know that not every sale is going to go smoothly; it’s just how it is. There are so many factors affecting house sales - jobs, income, personal circumstances and, most recently, the COVID-19 pandemic - which means that circumstances change and sales are no longer viable for certain parties. Here’s an example of how our Charlton Kings team turned a withdrawal from a sale into a positive:
In summer 2019, Peter Ball & Co brought to market a beautiful home in Ham Square, Charlton Kings. Complete with character beams, the Grade II listed Tudor cottage - which will require a lot of renovation, but will be truly fabulous once completed - gained immediate attention, and was viewed by many interested parties. Due to the work needed, various offers were made quite far below the asking price, which weren’t accepted.
In January 2020, after a small reduction in price, an offer was put in and accepted, and the progression of the sale moved well, nearing exchange just before the UK went into lockdown due to the coronavirus pandemic, and the government put a hold on properties exchanging contracts.
On 18th May 2020, as the market became coming out of lockdown, the buyer of the property decided to withdraw from the sale due to concerns that the value of the gorgeous chocolate-box cottage would fall because of the stagnation of the housing market and the effects of COVID-19 on the property industry. This decision was a blow to both the seller and our team, having got so far through the process, however our Charlton Kings team leapt back into action, immediately putting the Ham Square property back onto the market. We advertised the property through our website, OnTheMarket and Rightmove, and also called anyone who had previously viewed or expressed an interest before lockdown began. This proactivity led to the property being re-sold at the same price just 24 hours after the buyer withdrew, and without needing a second viewing, an amazing outcome!
The sale is now progressing with the second buyer, and, whilst we’re still a little way off the second sale going through - what with some solicitors, local councils and surveyors only just returning to work - here at Peter Ball & Co, we’re confident that the beautiful Ham Square property will be sold without any issues.
A huge well done to our Charlton Kings team for their hard work, and for turning around the fall-through to a positive conclusion so quickly!