Property Detail
A Sale That Needed a Second Start
This two bedroom semi detached home close to Hitchin town centre attracted strong interest as soon as it launched.
As an estate agent in Hitchin we often see strong demand for well located homes, and this property was no exception. Within a couple of weeks we had carried out several viewings and received offers from multiple parties, eventually agreeing a sale at the full guide price.
At that stage the transaction appeared to be progressing smoothly. However, during the survey process an unexpected issue came to light.
The Construction Issue
When completing the property information forms, the vendors had indicated that the property was of standard construction.
However, during the buyer’s survey it became apparent that the house was in fact an early 1900s timber frame property, which is classed as non standard construction. The earlier declaration had simply been an honest mistake.
Although properties of this age and construction do exist locally, the discovery raised concerns for the buyers and their lender. Unfortunately they decided not to proceed with the purchase.
After such a positive start, the property suddenly found itself back at square one.
Preparing for Relaunch
Rather than simply placing the property straight back on the market, we decided it was important to address the issue that had caused the first sale to fall through.
We arranged for a specialist damp and timber survey to be carried out by a local company. The purpose of this report was to provide clarity on the condition of the property and to help reassure future buyers about the timber frame construction.
Having this information available meant that potential buyers could review the findings from the outset, helping to avoid uncertainty later in the process.
Back to the Market
Once the report had been completed, the property was relaunched and we contacted previous viewers and interested parties to see whether there was still demand.
Within three weeks we secured a new buyer who agreed to purchase the property at the full guide price once again. This time the purchaser was a cash buyer with no related sale, which meant the transaction could progress without mortgage complications.
A Fast Exchange
With a committed buyer and responsive solicitors involved, the legal process moved quickly.
From issuing the memorandum of sale to exchanging contracts took just 30 days, which was an impressive turnaround after the earlier setback.
For anyone selling property in Hitchin, this demonstrates how preparation and quick action can keep a transaction moving even when unexpected issues arise.
The Clients
The owners were living in Switzerland and had previously rented the property through us. Having decided to focus their future overseas, they wanted to release the capital tied up in the property to help fund a purchase there.
Because we had already managed the property on their behalf, we were able to oversee the sale for them while they remained abroad and ensure the process continued smoothly.
The Outcome
Despite losing the first buyer during the survey stage, the property sold again at the full guide price and progressed to exchange within just one month.
It was a good example of how careful preparation, clear communication and maintaining relationships with interested buyers can still produce a successful result.
Thinking of selling in Hitchin?
If you have a property to sell in Hitchin and would like advice from a local estate agent, we would be happy to help.
We offer free valuation services for homeowners who would like to understand the current market value of their property.
To arrange a free valuation or discuss selling your home in Hitchin, please contact us on 01462 557477 or email hello@masons-property.com