Why is the estate agent trying to rush me?
Answer
Very simply ... because "Time Costs Deals"
Sure its partly that the estate agent only gets paid once your purchase has reached exchange of contracts or completion but its more to do with the fact that he won't get paid at all if you drag your feed and the vendor pulls out.
This isn't about the vendor pulling out because they start to see you as a time waster, although that is possible if you really are flaffing around, its because things happen in life that make vendors stop selling - a promotion or demotion, divorce, a job move, an exceptional rental offer, etc.
There are dozens of reasons the circumstances of a vendor might change and this might make them decide now is not the time they want to sell.
Estate agents know it and if you're buying smart you'll know it to. That means you will be deal chasing and the estate agent will know it.
To learn all the tips and tricks for making a property purchase happen fast pick up a copy of my ebook How to Really Buy a Property.
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- Agreement in Principle
- First Time Buyer
- Period Conversion
- Period Property
- Repossession
- Sold Subject to Survey
- Subsidence
- Asking Price
- Guide Price
- Title Deeds
- Pooled Commission
- Joint Sole Agency
- Split Commission
- Multiple Agency
- Property Details
- Title
- Attended Exchange
- Pre Arranged Mortgage
- Listings
- Draft Contract
- Sole Agency
- Financial Adviser
- Independent Financial Adviser (IFA)
- Drainage Survey
- Ghost Gazumping
- Upward Chain
- Cash Buyer Only
- Vendor Suited / Suited Seller
- Broken Chain
- Deal Chasing
- Time Costs Deals