Vendor demands heighten risk for movers
Vendor demands for cash unconditional offers and auctions are forcing owner-occupiers to take on significant risks to move up the property ladder, according to advisers.
In a strong sellers' market, the vast majority of vendors are selling homes at auction, only accepting cash unconditional offers ahead of auction processes.
The vendor demands have made it more difficult for people looking to move up the ladder. Owner occupiers looking to trade up are faced with having to put in an unconditional offer before they have sold their own home.
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