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Welcome to Mutual off-Market – The property discovery site
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Why do house sales fall through?

wooden house locked in a chain and paddlock

A staggering 30%* of property sales don’t make it from agreed sale to completion. This can be very frustrating when you think you are well on the road to moving and then your hopes are dashed. This is particularly annoying when it happens at the last minute!

Unfortunately we have a bizarre system in this Country where someone can agree to buy your house, mess you around for months on end and then pull out at the last minute because they find one they like better down the road. This can obviously cause a great deal of frustration and be very costly.

 But what can you do about it?

Well the quicker the sales goes through the less chance there is of it falling through. There seems to be a myth that it has to take three months for a sale to go through however there is no need for it to take much more than a month as long as everyone knows what they are doing.

Firstly, get set up for success when you first put your property on the market. Think about the things you will need when you get an agreed sale and get them ready in advance. This will save time when you agree a sale. Get copies of planning permissions or building regulations if you or previous owners have had work done. If your property is older, an up to date damp and timber report and if the report shows work needs doing then get it done.

Once you have agreed a sale, all parties should appoint solicitors and sort out mortgage arrangements without delay.  The mortgage survey should be done within 10 days of the agreed sale and local searches applied for immediately.

Communication is key throughout the process and a good estate agent will keep everyone informed as to what stage they are at and what responsibilities they have to keep moving things forward.

If things start to stall and there is a feeling nothing is happening, don’t be scared about threatening to put the property back on the market if the purchaser doesn’t get a move on. This will either install a fear of loss and motivate then to get on with it or they will pull out which is exactly what they would have done three months down the line.