Many sellers are not aware of a ‘contracts race’ and are therefore unable to utilise its benefits. Have you ever been in a position where you have two potential offers but don’t know who to proceed with? Do you want to sell the property as quickly and competitively as possible? If so, then a contracts race will allow you to place both buyers in a ‘race’. The first buyer which is in a position to exchange will be the buyer who purchases the property.
This provides an opportunity to sellers to keep their options open and pushes the buyers to not time delay – a factor which in conveyancing can often cause the most amount of stress and uncertainty. A buyer will also have the option to ensure their opportunity to purchase the property is not lost from the outset.
Please contact us to find out how this can work for you.