High offers for property often come with some unwelcome small print, the Homeowners Advice Centre has warned.
Selling high-value property can come with a number of risks and if an offer is too good to be true then it often is, according to an expert.
Chris Jenkins, co-owner of the Homeowners Advice Centre, was responding to figures which showed that many middle-class people are beginning to feel the strain of the recession and are considering downsizing their home.
Property recovery specialist Property Portfolio Rescue reported earlier in the month that it had seen a 224 percent increase in the number of enquiries it had received from people with a home worth more than £500,000 during the first three months of 2009.
Mr Jenkins explained that people looking for a quick sale can take a number of steps, including being realistic with the sales price. House prices have dropped markedly since their peak during 2007, as the financial crisis has deepened and mortgage availability has dried up.
However, if a high offer does come in then Mr Jenkins suggested that sellers should be "wary... as they could involve hidden clauses or could be designed to make you think you have got a sale when in reality the buyers pull out at the last minute or revise their offer to considerably lower".
