Divorce and superstition does not deter house buyers

Buyers can’t be choosers in a sellers’ market and as a new survey reveals, there is very little that will discourage today’s determined housebuyer.

January maybe the month of new starts and resolutions but it is also said to be the month when the highest number of divorce proceedings begin and as the number of divorces in England and Wales has risen steadily so has the likelihood of buying a house from a divorcing couple.

A recent survey by the Homebuyer Show, of factors affecting house purchases, has shown that 80% of people would not be put off buying a property being sold by a divorcing couple. With many purchasers believing that because the vendors will want a quick sale, so they can go their separate ways, they could in fact get a bargain.

Although this maybe the case, buyers are warned of the need to proceed cautiously, especially if the marriage has ended acrimoniously, as a warring couple could make the buying process more difficult and create additional legal wrangles.

Malcolm Prescott, residential sales director for Webber Estate Agents an exhibitor at the Homebuyer Show in March, believes any couple faced with the unhappy prospect of a divorce will need to be willing to work together to sell their family home -communication is the vital ingredient in these situations.

“In a situation where an agreement has not been reached it is likely to affect the future saleability of the property. One of the problems can be disagreement over the property’s value, as one party may feel the property is worth more than it has been valued at, or needs more equity to move on. In these situations the agent needs to develop a compromise and reach an agreement with all parties concerned.

“Buyers who find a property they want are rarely put off by the fact that it is being sold because of a divorce. Once a decision to buy has been made, buyers are generally very tenacious and will move heaven and earth to get a property.”

The Homebuyer Show survey revealed that of the 20% who would be put off buying a property in a divorce situation, the main reason highlighted was a fear that the house may have taken on a negative feeling or may even be bad luck for their relationships.

The poll also asked whether superstition or supernatural fears had an effect on peoples’ decisions about whether to buy a property. Only 22% said they wouldn’t buy a house which was number 13.

However, findings showed that 62% of those polled would be put off a property if they knew it was haunted. With some fearing they would be unable to sleep and others stating they wouldn’t want to buy a property if they knew someone had died in it and this was the cause of the haunting.

Nick Clark, managing director of Homebuyer Events commented: “Good agents will be aware of any possible negative aspects of a house they are selling and will either pre-empt the situation or allay fears before they become a problem. If a buyer really wants a property then they are likely to be willing to work around problems to ensure they succeed in securing it, especially in today’s competitive market.”