08NOV

Survey Shows That Selling a House is the Most Stressful Life Experience

Tue 08 Nov 2016 by Ellie Pierpoint

A recent survey has revealed that the most stressful event in someone’s life is selling a house. This comes as no surprise due to the pressure involved in selling a property, but the survey also revealed some other widely held beliefs that we weren’t so 'sold' on.

Selling a house is more stressful than getting divorced

According to a study by Vivo Property Buyers, people find the task of selling their home more stressful than other major life events like having a baby, starting a new job or getting a divorce.

The co-founder of Vivo Property Buyers, Jantiene Sobry, explains that the process of selling a house is particularly stressful due to the length of time it takes to secure a sale, and the fact that it is the most expensive asset most people will ever own, therefore comes with a huge element of caution.

“The process is long and daunting [and] it is the unknowns which make it a stressful event in your life” - Jantiene Sobry (via propertyreporter.co.uk).

This is something we actively try to combat at Homeward Legal and by making our service as straightforward as possible, offering Fixed Fees and a ‘No Move, No Fee’ guarantee to prevent the stress of having to pay for conveyancing again if your buyer pulls out, we can ease the worry of selling your house as much as possible.

How long does it really take to sell a house?

The study also revealed that people believe it takes approximately 3-6 months to sell a property, which it definitely could, but at Homeward Legal, we’ve often seen people put their house on the market, only to be surprised that it’s sold within a week, at which point it’s up to the buyer and their solicitor how long the conveyancing takes, but it could be as quick as 6 weeks.

Of course it depends on the desirability of the property and it makes sense that a well-priced and desirable home will sell quickly, but it also comes down to whether or not the right buyer finds it at the right time. Once a buyer has been lined up, we usually work to a tight schedule to ensure that at least the conveyancing part of the sale goes as quickly as possible.

The great estate agent myth

Another point that was raised in the survey was the preference for using local estate agents. A large majority of the people surveyed said that they would prefer to deal with an estate agent who was local and had a good knowledge of the area in which their house was based.

We’ve discussed the pros and cons of using a local conveyancer before, but first let’s address the misconception about estate agents. Many people believe that opting for the conveyancer that your estate agent recommends is a safe bet, but this is actually a bit of a myth.

Estate agents will often receive a large commission from the conveyancer and rather than choosing the package that suits you most, they’ll often choose the one that makes them the most commission, and guess who’ll pay that commission? Yep, you! We’ve found that the estate agent’s conveyancer can be up to £800 more expensive than an independent one you choose yourself, and this cost will almost always be tagged onto your bill at the end – now that’s stressful!

Local isn’t necessarily better

As discussed previously, a large number of people prefer to choose a local solicitor, and while this may give the solicitor a degree of local knowledge, they might not automatically be the best choice. Most conveyancing searches don’t require much local knowledge to be done to a high standard and nowadays with the internet and email, even local solicitors won’t be around to visit in person all the time.

It’s better to choose your conveyancing solicitor on reputation and reviews rather than where they are based, as someone you find online may be quicker and more efficient than a local conveyancer. It’s surely going to be more stressful if you opt for a local solicitor only to be disappointed when they aren’t everything you thought they would be. This highlights the importance of checking the reputation of any solicitor you find, local or not.

We can help to take the stress out of selling a house and our solicitors are based all over the country, meaning we can pair you with a local solicitor while offering you great customer service, a highly recommended reputation, and great value for money. So give us a call on 0800 038 6699 or use our online quote service to find out how we can help with your sale conveyancing.

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