15/11/2024
!! ALWAYS KEEP STAKEHOLDERS IN THE LOOP !!
I learnt a massive lesson earlier this year. I had a sale agreed on a 4 bed/4 en-suite property for ยฃ160K in the Northamptonshire area. This was an off market deal. When I liaised with the vendor, she said contact Jack - he deals with guaranteed rent schemes.
I had already firmed my exit on this deal so I didn't make contact with Jack - BIG MISTAKE. As we progressed through the deal, the vendor suddenly went cold on me and then several months into the process I received a message saying "sorry I'm no longer selling, I've decided to rent the property to a guaranteed rent scheme."
It's SO vital to keep all external and internal stakeholders updated regarding the progress so that everybody knows what you're doing, when you're doing it and why you're doing it.
I could have made contact with Jack and Jack would have chased me but because I didn't, Jack chased the vendor.
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