Selling your property whether you are a career landlord or selling your family home can come with its own highs and lows.
31% of house sales fall through in the UK. Meaning your sale very well could fall through maybe even multiple times. This can of course be demoralising and can happen at any stage of the sale.
Here’s how to react and some “do’s and don’ts”
Work out why – if you are able to rectify the issue.. DO IT
A sale could fall through for any number of reasons, whether it be the buyers finances, a change in their circumstances or just a random change of heart.
But the most common reason is findings in a survey; this could be damp or structural issues being found.
Get these reports done yourself beforehand and rectify any issues found. Don’t try and hide the issues because they will eventually be found.
Of course if these repairs are unaffordable a change in price may be the best option for the sale of your property.
Don’t panic!!
The sale falling through may not be due to an issue on your end. As mentioned previously sales can fall through for any number of uncontrollable and unpredictable reasons. You found a buyer for the price you are asking for and there is no reason you will not find one again. If you feel your property is valued correctly hold firm and continue to market.
Ensure you have the correct agent
In the event of sales falling through, you want an agent who knows what to do. It is important to have a local, knowledgeable and capable estate agent who can react effectively to any issues that might arise.
An agent should financially pre-qualify all buyers before marking a property as sold. Most agents feel they should complete the sale as quickly as possible but this can lead to the sale falling through.
Plan ahead
Make sure your property is in the best condition possible to try and avoid some of the issues that could derail a sale. For example, getting an up-to-date gas safety and electrical safety reports.
Lack of any documentation can slow down and cause issues in a sale, some planning and building apps can be a slow and costly process, getting these sorted before going to market can mean a much smoother selling process