Are you in a position to proceed?
July 18th, 2023
“Are you in a position to proceed”, is a phrase you will more than likely hear when you enquire about a property, but some people aren’t sure what this means. So, here’s a simple explanation of what ‘position to proceed’ means and why it’s important for estate agents to know what position you’re in.
Position to proceed is simply a term to find out if you can move ahead with purchasing a property straight away.
Typically, those that are able to proceed are First Time Buyers, cash buyers, those in rented or temporary accommodation or those that have a property which is ‘sold, stc.’
If you need to find a buyer for your own home in order the buy the next one, and it is not on the market, or it is still For Sale, then you’re not in a position to proceed.
Now some clients will state that they are in a position to proceed, because even though they haven’t sold their own property, they are happy to proceed to get a survey done and order land registry searches but this isn’t strictly correct. Why? Because there is going to be a point in proceedings that the solicitor or the lender will put a stop to this because you usually need to have sold your own home in order to get the next mortgage, or exchange contracts. So, although you might be willing to proceed, you’re still not in a position to proceed.
For estate agents, it’s crucial to get this information for the seller so that they know who they are showing round and what the likelihood is of an offer that can proceed and it’s something sellers expect to have information on. It’s a part of the service.
I’ve had a number of selling clients in the past refuse viewings from those that are not in a position to proceed and as their agent, I have to act upon their instructions. I will however take each situation on its own merit. Where someone is on the market or about to go on the market but hasn’t yet sold, it is quite possible they could agree a sale on theirs and become proceedable quickly and so it makes sense to show them around. However, someone calling up to book a viewing based on a whim, it’s probably going to be a no from me. My advice is always to get yourself into a position to proceed to give yourself the best chance of securing your next home.
The concern is always that you could end up agreeing a sale on your own property and then have nowhere to go and while these are genuine concerns, in my view, this is better than missing out on your dream home when it does eventually come on the market…
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