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Quick House Sale Guide >> Quick House Sale FAQs >> The sale of my house has fallen through three times. How can I stop it happening again?
The sale of my house has fallen through three times. How can I stop it happening again?
Around one in three house sales fall through sometime after an offer has been accepted on the property. There are normally a range of reasons for a sale falling through such as:
- The buyer's personal circumstances change, they change their mind, or see another property they would prefer to buy.
- The buyers cannot get a mortgage for the agreed amount.
- The buyers have trouble selling their own property or are caught up in a long and complicated chain.
In the above cases, providing contracts have not been exchanged, there is really nothing a seller can do to stop the sale falling through. However there are certain steps you can take to try to minimise the risk of it happening again:
- Always find out the position that buyers are in before accepting their offer. A 'cash' buyer that has an agreement in principal with their mortgage lender should not have financial difficulties and will not be caught in a chain. A buyer that needs to move for reasons connected with their job shows they are committed to moving.
- The risk of a sale falling through is much less if you sell your house through routes other than with an estate agent. This includes selling it at auction, where as soon as the hammer comes down the sale becomes legally binding and completion is usually set for 28 days time. Property traders and investors will also be less likely to pull out of a sale as they are working as a business and will not pull out due to personal circumstances or because they have changed their minds, for example.
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