Unlock – A new way to sell your property

The ESPC and a group of solicitor estate agents including ELP Arbuthnott McClanachan have launched ‘Unlock‘ which is a new way to market properties for sale.

Many people would like to move home but are worried that they will sell their home but it won’t give them time to find their next perfect home. They are put off by the possibility of having to move to a temporary rental property or buying the wrong property because they are in a hurry to buy something before their sale date.

‘Unlock’ allows your solicitor estate agent to market your property for sale but with the added assurance that you will have time to find your next home. This is done by adding a clause to the missives that gives you the option to withdraw from the sale if you can’t find a new home that you love and meets your needs and requirements. The home buyer will be given a long date of entry, typically 6 months, which should give you time to find the right home.

Paul Hilton ESPC CEO commented, “Unlock is only available through ESPC’s network of solicitor estate agents and provides a creative ‘safety first’ solution to those sellers who want to find a property first before selling.  It’s never too early to talk to your solicitor about Unlock, it could be the answer to your home move.” 

Unlock for home sellers

Unlock allows homeowners to market and accept an offer on their home, subject to criteria they set related to their next property purchase. The ESPC has written a useful article on ‘Unlock for sellers‘ that details how it works and is accompanied by 2 useful short videos.

The advantages of Unlock to home sellers are highlighted as:

1. You get a longer date of entry to allow you time to find a new home.
2. You will be in a stronger buyer position having already agreed on a sale for your home.
3. You will know exactly how much you can afford, meaning you can really target the right home for you.

If you are considering selling a property and believe Unlock may be the right option for you but would like to find out more, please get in touch with our property team. We can answer all your questions and help you decide if you want to market your property with Unlock.

Unlock for home buyers

What does Unlock mean for home buyers? The main benefit to home buyers is that some new exciting properties may appear on the market as sellers feel safer selling with Unlock. To get this prime property, you will likely have to face a longer entry date but this will give you time to prepare for your move.

The Missives will be concluded which means that you have purchased the property and you won’t lose out to a higher bidder several months later. However, there will be additional clauses added to the Missives to protect the seller. They will most likely state that they can withdraw from the sale if they can’t find a new home. They may offer compensation if this happens. Your solicitor will explain all Unlock clauses before you sign the Missives.

You can read more about ‘Unlock for home buyers‘ on the ESPC website or contact one of our property solicitors who will be able to explain it in detail. You don’t need to worry about Unlock unless the property you would like to buy has been marked as an Unlock property on the property details page on the ESPC.

Unlock & ELP Arbuthnott McClanachan

We are one of the solicitor estate agents that has signed up to Unlock with the ESPC. Our team of property solicitors and estate agents has been fully trained in the process. We can answer all your questions which will help you decide if selling your home with Unlock is the right process for you.