An Order for Sale is a Court judgment ordering the sale of a property. Increasingly, our clients are finding that their properties are difficult to sell in the current housing market.
According to an article from the BBC this week, “UK house prices saw the biggest monthly fall for nearly eight years during April … as demand for homes weakened.” Halifax, the mortgage lender, said prices fell by 3.1% between March and April, the biggest decline since September 2010.
Katie Rainscourt, our Managing Partner, has the following advice for parties who are struggling to sell their properties:
“Your first task is to check your final Order for Sale. Do you have joint conduct of sale? If so, that means that you should be as involved in the sale as your spouse, even if you are not currently living in the property. Make an urgent appointment to meet with your estate agent to find out their opinions on why the house is not selling.
If your agent tells you that the house price needs to be reduced, then given your consent to that, and ask for your former spouse to consent to the reduction as well.
If your agent tell you that the house is not presented appropriately, then ask for specific advice as to what should be done to improve the saleability.
You should be kept in the loop by your agent as to any interest or offers that they receive on the property.
If you receive an offer which you want to accept, and your spouse is refusing to accept, your case and Order for Sale may need to be urgently referred back to court. A judge does have the power to sign sale documents on behalf of your spouse if that is what is needed to get your house sold.”
Roof Lines Xscape Milton Keynes by StooMathiesen
