A Chain Is Only As Strong As Its Weakest Link!

Words guaranteed to strike fear into the heart of anyone trying to sell a house “the broken chain”.

A chain is a line of buyers and sellers involved simultaneously in property transactions that are linked to each other.  If one transaction goes wrong or is delayed the chain breaks and the effect is felt top to tail of the chain.

It is a common problem because chains happen in up to 85 per cent of property transactions, sometimes starting with a firs time buyer and linking along a line of existing owners.

The chain can end with an owner who just wants to sell maybe on behalf of a deceased relative or to move abroad. When the market is buzzing with more buyers than homes chains tend to be strong. Purchasers may overlook minor faults when viewing or reading surveys. When the market is sluggish chains tends to be slower as buyers have a wide choice and can be more pernickety.  

Whose the weakest link!

Links break for a variety of reasons:

• Many fail because of tight deadlines for paperwork being missed or finance falling through at the last minute.
• Until contracts are exchanged the buyer has no legal obligation to buy so they can simply withdraw their offer and have to pay no costs the seller may have incurred.
• The survey reveals a problem with the property previously not known.
• So in the vast majority of cases the weakest link is simply because someone in the chain changes their mind.
• Delays by a lender making a formal mortgage offer to the buyer. Until the mortgage offer is made contracts cannot be exchanged.  

Gazunderer or Gazumper!

Gazundering happens when a potential buyer reduces their offer at the eleventh hour just before contracts are exchanged.

Alternatively the seller may accept an offer for their property and then tell the buyer that they have been offered a higher price by someone else.

Avoiding a broken chain

• Avoid chains in the first place Find out about potential buyers and you can choose to decline their offer if they are stuck in a chain. Also find out about the people you are buying from as the chain can break both ways.
• Make sure all finance is in place and avoid you becoming the weakest link. Have the mortgage offer in place before you start making offers.
• If you really have to buy before your sell or visa versa there is the option of getting a short term loan (bridging loan) which can cover any financial shortfalls in the short term and can normally be done quickly.  
• A property can typically sell within three months of being put on the market. If your property is still for sale after this time the asking price may have fallen out of line with local levels and you may have to be prepared to lower your asking price.
• Sell your property first and opt for rented accommodation while you look for a new home is another option.

David Jordan Estate Agents are on hand to welcome you as a new client or welcome you as one of our existing clients with lot of advice and tips to help you.

Call or email us using the details on our website  www.davidjordan.co.uk

T: 01323 898414

To Be The Best

To be the best .... are you the best! When it comes to being a good boss being nice trumps being smart and any boss feels proud when employees support this as our Facebook page suggests!

A remarkable boss in an outstanding estate agent David Jordan Estate Agents with remarkable employees.

So what makes a good boss?

So what makes a good boss with great employees who as a team makes a great estate agent?

While we focus on reaching target, achieving results and accomplishing solid goals, key to this at David Jordan Estate Agents is developing every employee. Without great employees no amount of focus on goals and targets will ever pay off.  So it’s the boss’s job to help all their employees grow and be more capable so they and our business can achieve more.

At David Jordan Estate Agents we know this is key and that developing skilled employees will lead to achieving goals being a natural outcome.

When employees excel you and your business excel. A boss is the umbilical cord that connects employees to the company. A good boss will set clear expectations for their employees and clearly explain how they define excellent performance.

An effective boss doesn’t tell their employees how to get the work done but clearly explains the results and outcomes and entrusts the employees to execute the details and the process in the way they see fit.

A great boss:

• Is both leader and coach a person who educates and encourages their employees and leads by example?
• Recognises efforts nothing works like positive reinforcement.  
• Gets to know their employees, makes themselves openly available and is open and truthful but is direct and sensitive.

Cream of the Crop

To be cream of the crop in the estate agency world as well being led by a great boss supported by great employees at David Jordan Estate Agents our success is further defined by our:

• unbridled enthusiasm;
• unfailing determination; and
• Insatiable desire to be at the forefront of the industry.

Our honesty is transparent and sincere in the manner that we conduct our business at all times. Our passion is addictive and makes us successful and we are resolute in our vision of tomorrow and what we should look like. We value all our clients and respect their needs.

At David Jordan Estate Agents we are creative, inspirational and responsive to our employees, our clients and to the ever changing face of our industry.  So if you are thinking of selling, buying or letting then give us a call.

David Jordan Estate Agents are on hand to welcome you as a new client or welcome you as one of existing clients with lot of advice and tips to help you.

Call or email us using the details on our website www.davidjordan.co.uk

T: 01323 898414

DIY - Do You or Don’t You?

Do it yourself (DIY) building modifying or repairing something without the help of experts or professionals, where did this originate?  This common phrase had come into common usage in standard English by the 1950’s and referred to the emergence of a trend with people doing their own home improvements both as a creative recreational and cost saving activity.

In the mid 1990’s DIY home improvement began to find its way onto the World Wide Web where sites were set up offering free extensive DIY home-improvement.  In the 1970’s when home video (VCRs) came along DIY instructors quickly grasped its potential for demonstrating by audio-visual means. Beyond magazines and television the scope of home improvement DIY continues to grow online and most mainstream media outlets have extensive DIY-focussed information websites.

Back to Basics

The easiest home improvement to optimise chances of selling your house quickly is redecoration. Worn and shabby wallpaper and chipped paintwork immediately detract from the appearance of the interior of your house and can put off many purchasers. 

The same can be said for the exterior of the property which could stop some potential viewers from going through the gate.  Redecorating can be done relatively cheaply especially if your do not need a tradesman and quickly transforms a tired property into a marketable home. 

Ensure internal fittings such as loose hinges sticking doors and windows are repaired. Even if carpets are tired and worn if cleaned they will look bright and smell fresh.

Outside tidying the garden makes your property look good from the outside and encourages viewers to want to look at the inside. Sort loose roof tiles or slates as this could be indicative of a leaking roof and many potential buyers will shy away from this.

Value Add

Home improvements that add value to your property can be a worthwhile way of investing. Improving what you have can boost the capital value of your property and improve your chances of selling.

Do your research if you are thinking about making changes. Some building work and unsympathetic extensions can devalue a property or make it difficult to sell

As a general rule creating extra space is a winner, kitchens are seen as the hub of the home and extending the kitchen and making it multi functional can add value or possibly integrating the garage as an extra space or adding additional bedroom or bathroom are sound possible options.

Impression of space is everything so de-clutter and rearranging layouts can achieve a look of space.

Features such as pools, gyms, out of character additions or poor quality extensions tend to be financial losers.

Sprucing up the front entrance encouraging people to want to see more is a must.

Deciding to improve and make ready your property for selling is a substantial undertaking however David Jordan Estate Agents are on hand with lot of advice and tips to help you get the possible price for your property.

Call or email us using the details on our website www.DavidJordan.co.uk

T: 01323 898414