What is Sales Progression?
March 7th, 2023
If you are buying or selling in Christchurch, Bournemouth, or Poole at some point you’ll come across this term and think “What is sales progression?”
Sales progression is the term that agents use for getting a sale through to exchange & completion after a sale has been agreed.
Once you accept an offer on the property you’re selling, or have had an offer accepted on a property you want to buy, the agent will organise a memorandum of sale and issue this to both the seller and the buyer, as well as their respective solicitors/conveyancers.
At this point, it is over to the conveyancers to organise the legal details of the house sale/purchase and it is up to the buyer to apply for finances (assuming they’re getting a mortgage.)
Although the estate agent is not able to directly effect the sales process, they are able to chase people up, including other estate agents in the chain, conveyancers, surveyors and mortgage brokers, and this is essentially what ‘sales progression’ is – keeping on top of a sale whilst it is going through the legal processes.
It’s a useful service and one that some agents embrace and others just do on a proactive basis.
Either way, it’s an important part of the process to help keep the sale ‘on track’
Make sure you ask agents when you first meet them what their approach to sales progression is and see if it fits with your expectations.
I always recommend using a local solicitor to handle your sale or purchase as this can speed things up considerably. My solicitor of choice is https://mm4law.co.uk/ and in particular, Lalitha Dodwell. She is fantastic and gets the job done!
If you would like to have an informal chat about anything property related you can request a phone call with me using my handy calendar link at time that suits you, I’m available 7 days a week and often work outside of normal business hours https://craigthompson.exp.uk.com/contact-us/