Demand still strong into the Autumn
After a very positive Summer, demand for houses remains strong in the Thames Valley. This is partly due to a lack of property coming on to the market. Over the past few months, we have seen reports of 3 week waiting times for surveys and there have been reports by the media and RICS around the number of surveyors performing this type of work.
There are two main points we can draw from this. Firstly, it is very easy for purchasers to buy property in haste. The thought of “we must put in a high offer as we don’t want to lose this house” can result in paying too much for a house and there is a temptation to press ahead regardless. It is vital that you try to avoid this temptation and a survey can help ensure that not only do you pay an appropriate price for the property, but also it provides leverage for re-negotiating once all those significant repair items have been identified.
Secondly, don’t leave things to the last minute. You should be allowing at least 2-3 weeks between your survey and exchange of contracts, otherwise you may find you come under pressure from all sides to exchange when you are not ready. Bearing in mind the lead times for surveys which range from 1-2 weeks at present, you should be requesting a survey soon after having your offer accepted. If you have left things to the last minute though, don’t worry. We may be able to help. Give us a call and we will do our best to accommodate your requirements.