Moving house is stressful enough without bad advice making things worse. That’s why we’ve launched a series of posts called Bad Advice 101—to highlight some of the worst advice we’ve heard given to buyers and sellers. And today, we’re starting with a real corker…
This one came from a legal professional and is easily the worst piece of information we’ve heard given to a home seller:
“People don’t pull out at this stage.”
Sounds comforting, right? But here’s the truth: this advice is dangerously wrong. People pull out of property sales all the time, at every stage of the process—even right before exchange.
The Reality: People Pull Out All the Time
Selling a house isn’t set in stone until contracts are exchanged. Up until that point, either the buyer or seller can pull out without any legal consequences, and it happens far more often than you’d think. That’s why we, as estate agents, work so hard to get our clients to the exchange of contracts as quickly as possible. Exchange is the point where neither party can back out without serious repercussions.
Once you’ve exchanged, you can finally relax. You’ll know your moving date, and the sale is all but guaranteed to go through to completion. But until that point, things are uncertain, and pulling out can happen for a variety of reasons—whether it’s a change of heart, financial trouble, or legal complications.
Why a Skilled Team is Essential
This is why having the right team of professionals—estate agent, broker, and conveyancer—is so important. They’re the ones who keep your sale moving forward and protect you from the unexpected. Moving is complex, and very few people have the skills to manage the process smoothly. That’s why it’s critical to make sure your team is:
- Skilled and knowledgeable: They should understand the market, know the intricacies of property law, and be able to secure the best mortgage deals for you.
- Professional and communicative: Your agent, broker, and conveyancer need to work well together and keep you informed every step of the way.
- Capable of seeing the sale through to completion: It’s not just about finding a buyer; it’s about ensuring the deal reaches the finish line, even when challenges arise.
Don’t Be Put Off by Costs
Now, here’s where some people get it wrong: paying more doesn’t always mean you’ll get the best. But it’s equally true that cost alone shouldn’t put you off. If an agent, broker, or conveyancer charges more than others, it might be because they have the experience and expertise to manage your sale smoothly, which could save you time, stress, and even money in the long run.
What’s important isn’t always the price tag—it’s the quality of service. A skilled professional will keep your sale on track, communicate clearly, and handle any roadblocks that come up. That’s what you’re paying for.
Choose Wisely, Not Cheaply
- The Best Agent: A higher fee doesn’t always mean they’re the best, but don’t rule them out just because they charge more. The right estate agent will not only price your property correctly but also guide you through negotiations and ensure your sale stays on track. They’re often the glue that holds everything together.
- The Right Broker: If a broker charges a set-up fee, it might be worth paying. A good broker has access to the whole market, including exclusive deals, and can help you secure borrowing from a lender that fits your needs. They know how to navigate the complexities of the mortgage world, which can be a huge asset.
- The Right Conveyancer: A low-cost conveyancer might seem like a bargain, but property transactions are complex, and a mistake could delay your sale or even cause it to fall through. (note the awful advice given in our quote above). A good conveyancer will handle your legal work efficiently and keep the process moving forward by working with an agent and broker, not against them.
It’s About Teamwork
Here’s something else to consider: your estate agent, broker, and conveyancer will need to work together throughout your sale. A solid working relationship between these professionals can make the difference between a smooth move and a stressful one. The best agents often have excellent relationships with top brokers and conveyancers, which makes everything run more smoothly.
So, the next time someone tells you “people don’t pull out at this stage”, take it with a grain of salt. People can and do pull out, right up until the exchange of contracts. That’s why it’s vital to have a team of professionals who are skilled, knowledgeable, and capable of seeing the sale through to completion. And while price matters, it’s the quality of service and the ability of your team to manage the process that should guide your decision.
After all, moving is one of the most stressful things you’ll ever do—so make sure you’re working with the best people to make it as stress-free as possible.
Let’s Get Moving!
If you want to work with a skilled, knowledgeable and professional team to help with your move, we can help!. Please book your free, no-obligation appointment today with our friendly Stamford property experts by calling 01780 672030 or sending us a message using our live chat.