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Property Sourcing - Finalising the Transaction

6/8/2017

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You may remember from my last blog on Property Sourcing that we had just had the offer accepted on an investment property for my landlord and I covered everything that we had done to get to that point. On this occasion the client wanted us to follow the sale through to completion as they are very busy and did not have the time to worry about this.

We used a local conveyancing agent who provides a very efficient and cost effective service and this meant that any issues could be dealt with quickly and resolved. Having bought properties nearby we were not concerned about any local items that came up in the search and were fully aware of any building works in the area. 
The sale went through relatively quickly. We were informed by our broker, again a local contact who we work well with that the top of the chain was buying a new build property which had an eight week exchange deadline but as we were the bottom of the chain we knew we could easily achieve this. 
As the property sourcing agents, we kept in contact weekly with the progress chaser and fully updated our client. At one point, we were informed by the broker that we were the only ones in the chain not ready to exchange but we made a calls to the other agents in the chain and it was proved not to be the case. As suspected it was the developer at the top of the chain who was pushing. 
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Following this up with the sales office on the actual development it became clear that although he wanted exchange the house was way off being completed so they would in fact be looking for a delayed completion. Exchange happened after 9 weeks with a further month agreed to the completion date. This worked out in our client’s favour as had we agreed with the vendors that we could carry out viewings after exchange to get the property let and we organised this one weekend for an open house. In the end we let the house to some of our current tenants who had just been given notice by their landlord as they needed the house back so it all worked out really well.  
After completion, we picked up the keys on behalf of the new owner and have since organised and project managed the decorating and minor remedial works in the house ready for the new tenants. 
The client was very happy and had found the process worked well for them and the void was only 5 weeks. They had opted for us to oversee the whole process but there was always the option to pick and choose which parts of the process they required. Looking for properties is something we enjoy doing and are experienced at.  Our local contacts makes it easier for us to be able to make sure the process goes smoothly. What we offer is a tailored service to suit each client. 
Hopefully my blogs have shown what property sourcing is and how involved it can be. If you would like any more information or advice on buying property in East Kent then please give me a call on 01304 825153 or drop us an email office@kearsneypropertyservices.co.uk.
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    Karen Southon

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