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After sales guide

Negotiating your sale

Your dedicated property expert is trained to negotiate with potential buyers to get you the very best price possible. Whatever offer is put forward, it is the legal responsibility of Merrick Binch to table any and all offers received on your property. It will always be your decision to accept, reject, or counter negotiate.

We will guide you through the process by presenting several options at each stage and if required give our opinion on whether we believe this offer is the best you are likely to achieve. Before the acceptable offer if formally confirmed in writing, we will undertake due diligence checks to ensure your buyer can actually go ahead and complete on the sale. This will include:

  • Confirming the position of your buyer (First time buyer, Investor, Sale agreed etc)
  • Financial status of your buyer (Cash, Mortgage, Cash from sale proceeds etc)
  • Proof of ability to purchase (Proof of cash or mortgage agreement in principle)
  • Chain details (How many other parties are in the chain? How progressed are these other parties?)
  • Are there any fixtures and fittings to be included in the sale price?
  • The estimated timescales for completion
  • Solicitors details for all parties involved

We will make you fully aware of the whole position of your buyer and everything involved in the sale before we confirm the sale out in writing and change the property to SOLD SUBJECT TO CONTRACT.

Coventry’s lowest cancellation rate. Our dedicated sales chasing team

The average national estate agency cancellation rate is 33%. That means that if a typical estate agent sells 10 houses, then around 3 of them WILL NOT go through to legal completion.

Since the launch of Merrick Binch, our cancellation rate has averaged out at 6%. This means that if we agree 20 sales, almost 19 of them will go through to legal completion.

Why are we so much better than the national average?

Quite simply it is down to our dedicated SALES CHASING TEAM. Under property law in England and Wales, both buyers and sellers are not legally liable for the sale or purchase of a property until they ‘exchange contracts’. This means there are numerous pitfalls during the process that can cause sales to fall through.

Ensuring the sale is tied up correctly is the first step. After that the sales chasing team will liaise with all the parties involved in the sales process to ensure everything is done correctly. This involves liaising with:

  • Both the buyers and the sellers
  • Mortgage brokers, Banks, and Building societies
  • Surveyors
  • Solicitors
  • Other estate agents involved in the chain
  • Contractors such as damp or roofing specialists

Being pro-active is the key. Most remedial problems involved with properties can be resolved by speaking to correct contractors and making sure that all parties are updated throughout the process. This is where the skills of your property expert is proven.

Most of the time it is simply a case of negotiating a solution that both the buyers and sellers are happy with.