Dealing With A Seller’s Market

Dealing With A Seller’s Market

Property Market

Unfortunately for buyers, the power in the current UK property market still remains with sellers. Due to high demand, they have free reign to pull out of your agreement at the last minute if something better comes along, which can be very frustrating and often seems unfair. Here we outline a few areas that you might be feeling anxious about, and provide some advice on getting the best possible outcome.

Firstly, gazumping is a major issue in the UK and has been for some time, although the situation has improved a little on the whole. It basically refers to being outbid on a property by a rival buyer, even though you have already agreed and confirmed a deal with the seller. In England and Wales, this breach of an agreement does not actually constitute a violation of the law, although in Scotland that’s not the case and you can actually file a lawsuit against the seller.

Whilst this practice seems immoral and can be exhausting, bear in mind the following tips to help you avoid getting into the same situation:

  • If you move fast, there’s less chance of being outbid, so get your mortgage arrangements done ASAP.
  • Make sure your offer is actually fair to minimise the chance of the seller actively looking for better offers.
  • Ensure the property is taken off the market as soon as possible once your sale has been agreed formally.
  • Agents do not want this to happen, because it will negatively affect their reputation. You can work with them to try and make sure you don’t get gazumped.

Sellers may also change their mind about selling because they decide they want to keep the property for themselves. Sometimes if the market starts to pick up and there’s a good chance of the home’s value increasing within the coming months, sellers will decide to keep their investment and wait for the price to become inflated.

Upcoming changes in legislation could also influence a seller’s decision to put their sale on hold, if they stand to gain something financially from waiting. Another possibility is that the seller’s property chain collapses due to a problem further along the line, and unfortunately this tends to have a knock-on effect.

The bad news is that in any of these situations there is very little you can do. Once you have agreed a sale you are committed to buying it and you will probably incur some costs in the process of preparing to move, but if the seller does abandon the transaction you are not offered any legal protection. That is unless you have evidence that the reason for the cancelled sale was actually based on some form of discrimination against you, and in this situation you should consult with professionals for legal advice.…

Putting Your Possessions Into Storage

Putting Your Possessions Into Storage


It’s not something we normally want to do, but sometimes using a self storage company to temporarily keep your items out of the way and secure is needed when moving house. If you are moving to a smaller property you may not be able to fit all of your items into it straight away, and perhaps once you’re less busy you will be able to sell or re-home these possessions. You might simply have a gap between leaving one property and moving into the next.

In any case, you may need to consider a few important points in order to handle your possessions correctly and make sure they are safe when you put them in storage.

Preparing your furniture

Furniture may become damaged when it’s put into storage for a long period of time. If you’re not sure how long it will be there, or even if you think it won’t be long, it pays to be prepared. Make sure you ensure any repairs or cleaning work is completed before the furniture goes into storage. Lay protective sheets down on the floor of your storage unit if possible, and use similar packing materials to wrap up items. This protects the corners and surfaces from getting scratched or torn.

Packing fragile items

Many people don’t realise there are certain ways you can (and should) pack your most fragile and valuable items to ensure they don’t break while in transit or storage.

Plates – Wrap individually in paper and lay vertically in a box rather than stacking
Glasses – Place one inside the other to form small stacks and wrap in bubble wrap
Lamps – Disassemble as much as possible and wrap the individual parts
Artwork – Cover frames with additional padding on corners and wrap separately
Ornaments – Use multiple layers of bubble wrap and appropriately sized boxes

Plan for your space and stay organised

If possible you should always think about the unpacking process and where you eventually want everything to go. You don’t need to know the specifics, but grouping items together logically based on the room they normally need to be in will help you. Make sure you label things as much as possible so even if your items are being stored for a long time, you will remember how to find things later.

You might be interested in: hacks for a painless move – Geelong Advertiser So much so that three quarters of Australians in a recent survey conducted by Origin Energy said moving homes is one of the most stressful life events. A stressful life event that we undertake an average of 13 times in our lifetime and lose around 208 …


House extension

House extension

Property Development

Nowadays, many people prefer to choose house extension over moving to a bigger home. A recent survey shows that fewer homes are making sales due to this. Let’s take a look at the following reason why an extension is more favourable at this time round.

1. Cost

The cost of extending a house is far less cheap than moving. For instance, when moving houses, there are many extra costs including agency fees, solicitor fee, removal costs and of courses higher mortgage payment. All those additional costs can be used for an extension instead. By doing this, it reduces cost and less hassle.

2. Adding Value

When an extension is done correctly, it eventually adds value to the property in the longer run. So it is a great investment for those who are looking to sell their property in the future. In 10 years time, the cost of houses is estimated to double so homeowners can benefit from this. The more bedroom you have, the more value it adds as well.

3. Design Control

Owners who are looking to extend has better control of design on their home. They get more space and more control right from the start. They can decide on the layout and finish of their home as well as which dimension and specification they prefer.

4. Location

People who already choose to buy a house in a particular area can remind themselves on why they bought a house in that location. Often people stay in their current area due to schools, shops or simply they saw it as a good place to stay.

5. Less stressful

Extending a home relieves people from the stress of having to rely on other third parties for them to sell their property before moving into a new home. We all know that house buying isn’t simple as you may think as it involves a lot of paperwork and dealing with people.

Overall, it makes total sense on why people would rather choose an extension. It is better to maximise what you already have rather than go through the stress and costs of buying a new home.…

How To Make Money From Property Development

How To Make Money From Property Development

Property Development

Making a good profit from buying property, doing it up and selling it on is a career path that has crossed many people’s minds at some stage, whether it’s from personal experience or simply seeing people on television making it look easy. Either way, it’s something many people get into and make a lot of money from, and you don’t necessarily have to have a lot of experience from the beginning to make it work, but there are certain points to check off your list before you begin.

Firstly, consider whether this is really for you. You might not know how your project is going to turn out, but you can be pretty certain it’s going to require a lot of detailed planning, extensive attention to detail, and a huge amount of hard work from start to finish. Property development is stressful because you take on a lot of responsibility, not only for yourself but for the property you’ve invested your money into, your family and even the people you’ll be employing to help you. The work is likely to be exhausting. If this is a problem for you, maybe you should choose a different path.

If you decide you’re capable of coping under the pressure, that’s great, and for some people this brings out the best in them. You can move onto the next step: arranging your first project. Financing your project in the long term is going to be vital, since it’s not just the initial investment you need to find upfront, but all the costs of running the project through to the end need to be accounted for. Whether you’ve got the money yourself or need to borrow it, make sure this is in order before you begin.

You’ll be looking for a property that’s not in the best shape, meaning you can modernise and improve it without too much investment. To get this at a good price, the owners you’re buying from need to be motivated to move sooner rather than later. When you come to sell it on, you’ll also be looking for someone keen to make a quick decision.…

Floating Architecture Could Be The Future Of Housing

Floating Architecture Could Be The Future Of Housing

Property Development

If you think it’s complicated trying to renovate or even simply maintain a property on land, just imagine the concept of building your entire house on a floating platform, or even underwater! This is a trend that’s becoming more and more popular thanks to the amazing research and development carried out by architects around the world.

The reason for the trend is a growing awareness that the world is running out of space. In the UK we are a typical example, since we’re not short on resources compared to much of the world’s population, and we certainly aren’t running low on rainfall, but we are low on land. There isn’t much empty space left that we can afford to keep building on, which is already a controversial topic. We also have ongoing issues with homes being flooded, with heavy rains bringing disaster for many homeowners every year. Therefore it does seem to make sense that we should be looking at alternatives like floating homes.…

Rental Advice For Students

Rental Advice For Students

Tenant Advice

If you’re a student and planning to move away from home as part of your studies, or you already live in a different city with accommodation provided by your university, it’s time to start think about your accommodation next year. Are you going to have to move out of where you are now and find yourself a private landlord? If so, there is some advice you should bear in mind when renting properly for the first time.

Specialist letting agents for students do exist, so wherever you’re studying it’s best to try and identify a local expert as soon as you can, and go to them for some guidance and a place to start looking. They usually service a particular region, and often assist students from several universities. On the subject of student lettings, one agent explains the challenges students tend to face: “Students face a unique set of problems when renting for the first time, which can be pretty confusing. We do see a lot of people who are panicking slightly about being away from home or taking on the responsibility that comes with being in charge of a property. It’s just about good planning and having an understanding of what both parties need to do.”

Using Stainless Steel In Interior Design

Using Stainless Steel In Interior Design

Landlord Advice, Property Development

When you’re developing a property there are lots of design considerations to be made throughout the process. Using different materials is always hugely important in interior design, as there are often lots of different functions to one particular element in a room. For example, objects you choose to include in your room have to look attractive as well as being appropriate for what they’re going to be used for. This is especially true in kitchens, and that’s why using stainless steel kitchen worktops, splash backs and more features may be a perfect choice.

Stainless steel is obviously a variation on steel, a fantastically versatile metal made from iron with carbon and other elements added in through chemical processes to produce different characteristics. Mild steel is a standard type this is often used internally for construction, as well as for frames, brackets, supports and other small elements in pieces of furniture.…

Emergency Repairs On Your Rental Property

Emergency Repairs On Your Rental Property

Landlord Advice, Property Maintenance

As a landlord, there are plenty of potential headaches that are easily avoidable regardless of who your tenants are. If you are a landlord it is your responsibility to ensure your property is always kept up to a high enough standard for people to live in comfortably and according to what you have agreed. Emergency repairs may be necessary from time to time, although it can be tricky to judge what counts as an emergency if you’re inexperienced. Here are some examples of times when it would be the responsibility of the landlord to implement a fix as soon as possible.

1) Emergency plumbing and heating

“As we all know, the weather can take a toll on a property and its occupants. When it’s freezing cold and your property’s boiler needs servicing, this can be classed as an emergency for your tenants,” advised Jerry from Fast Action, emergency plumbers in Edinburgh. “Ensure you have the number of an emergency plumber and heating engineer so you can get this fixed quickly should you need to.”

Who’s Going To Fix This Mess?

Who’s Going To Fix This Mess?

Landlord Advice, Property Maintenance, Tenant Advice

Whether you’re a landlord or a tenant, nobody wants to end up fighting over whose responsibility it is to fix a particular problem with their rental property. However, in many cases it can be inevitable because things have not been decided clearly enough in advance. In all cases, the best thing to do is ensure you have a written agreement that both parties sign, meaning that in future you can refer back to your document and establish who needs to deal with a particular issues as and when it crops up.

However, it can be tricky to know where to start when drawing up your agreement. Here are a few ideas of where the responsibility lies for a few specific examples.

The landlord is normally responsible for…

– Emergency plumbing and heating repairs, such as when there is no hot water or the heating doesn’t work properly in the winter
– Safe and functional electric wiring
– Security of the property, including locks and all exterior doors
– Serious leaks of any kind, whether water or gas, in the roof or the floor
– Damage to the property from a storm, a fire or other accidents
– Failure of essential appliances in the property that the landlord provided
– Reimbursing tenants if they had to pay for any of these emergency services

Landlords are also generally responsible for smaller repairs and anything that goes wrong with something they have provided. However, not all of these things have to be dealt with immediately, only within a “reasonable” amount of time. For this reason it’s a good idea for tenants to request everything in writing, so there is evidence that the landlord was informed of what needed doing and had the appropriate amount of time to ensure it was completed.…

Hire A Plumber Or Do It Yourself?

Hire A Plumber Or Do It Yourself?

Property Maintenance

You might find yourself taking on a lot of odd jobs yourself if you’re maintaining your own property to rent out or sell on. Depending on your experience, sometimes it’s faster and cheaper to simply put your mind to a task and get it done without the hassle of hiring a professional. However, when it comes to plumbing, you might want to reconsider getting the job done by a plumber who knows their trade best.

On the one hand, you can indeed save time by getting the job done yourself. When you factor in the time spent looking up ideas of who to call, following up references, negotiating a deal, finding a time that suits both parties to complete the work, waiting for payment to go through, not even accounting for any possible delays, it can take much longer to have professionals tradesmen come in to do the work for you.

Sometimes this is made worse by the fact that professionals might be paid by the hour, so they may not be in a rush to finish the work to your tight schedule. You might find it’s much more cost effective to spend that money ensuring you have the best quality materials and tools, meaning you can make sure the plumbing work you do is up to the same standard as the rest of your own work. You also get the added benefit of adding a new skill to your repertoire, and once you’ve learned something once you can save money in future by never hiring an expensive professional again!…