Johnston Lawrence

The Residential Property Market

2 December 2008. by Susan Peacock , tagged with Property

Since our merger at the beginning of the year with Johnston Lawrence, the residential property market has contracted considerably and we have noted that there is now considerable pressure on real estate agents to effect a sale if at all possible.

Please be very careful not to sign up unconditionally for the purchase of any substitute property until your own property has been sold unconditionally and a deposit paid. Please be very careful of any advice to you that you will not be risking too much if you purchase before you have sold unconditionally as “your present property will readily sell”. That is not the case in the present market and, once purchasers become aware that a vendor may be under pressure, it becomes very difficult for you as a vendor to obtain your expected sale price.

These are very difficult times in the residential property market and we urge considerable caution in your dealings. Please do not hesitate to contact us at any time for advice on what you are planning, as we see a very large number of transactions and are aware of the many pitfalls.

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