On the London property market has resumed a high demand

Just a few days after Christmas and new year party, but of the UK property market is under pressure.

Sellers of residential property in London put their properties at the highest price and buyers are not heavily traded, trying to become owners of quality housing. Sellers returned to the tactics of pressure, practicing mass viewings, auctions, sealed bidding and more than that, increasingly began to meet the so-called cases of “gazumping” when the seller has accepted a verbal offer from a buyer may still refuse to buy, if I get an offer from another buyer to buy at a higher price. In the case of “gazumping”, the buyer may be in a very difficult position where he must either refuse the deal or offer an even higher price.

Phenomenon tough competition in the real estate market of London, which until recently were restricted to the Central areas of London, has now spread to the entire city and to the South-East of the country. Such a demand in UK property market not seen for a long time.

Especially the feeling of competition markedly on Saturday morning, during the “open day”, when viewing going to a lot of potential buyers and they sometimes take spontaneous decisions, yielding to the General mood. In such circumstances, the sellers sometimes encourage buyers by offering them make quite large and a non-refundable Deposit. UK law does not provide for non-refundable deposits, however, many people avoid court costs, not apply for a refund of Deposit in case of cancellation of the transaction.

People who decide to participate in the closed bidding, the experts strongly recommend to take the advice of the consultants, explanation of, whether really to participate in the auction, whether it fits this property and what points, also the highest rate can be decisive. Read our article on closed auctions. – Closed auctions real estate UK.

® Alice Morgan 14.01.2014 g.

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