What to Do When Your House Sale Falls Through – top tips
Aggh its such a worry isnt it figuring out what to do when your house sale falls through. You think you’ve found the perfect property and out of the blue, the sale falls through or someone beats you to it. Many of us have been there! Sometimes this happens to sellers too. In fact, towards the end of 2018, almost half of all house sales fell through in the UK and properties are taking longer to sell.
Whether you are a buyer or seller and your property sale has fallen through, there are some steps you can take to get it right the next time.
Buying a property and the sale falls through
If you thought you had your hands on your dream property, but then the seller received a higher offer, or perhaps there were issues with the survey or your mortgage, take these steps for a successful home purchase next time.
Reconsider your budget
One of the most common reasons for house purchases falling through is that the seller received a higher offer. If this was the case for you, it might be time to reconsider your offer. It might sound simple, but re-considering your budget for next time might help you to secure your dream home.
Find a buyer for your property first
If you’re holding up the chain it could become a problem for your seller, especially if they are looking to sell as quickly as possible. Instead, try waiting for someone to show interest in your house first before putting an offer in. This might be easier said than done if you’ve already set your sights on your perfect abode, but it could also help you avoid any disappointment further down the line.
Get the help of a specialist solicitor
Seeking the help of specialist residential property solicitors, such as ET Law, could be worthwhile to ensure the whole process runs smoothly next time around.
A good solicitor will carry out an efficient survey on your new home for you, taking care of initial paperwork, valuations and financial statements They should also be able to help you push your new deal through as quickly as possible. Although a good solicitor might set you back a little on your budget, they could help to save you lots of money further down the line.
Selling your property and the sale falls through
As with the buyers, there are things sellers can do when the sale of their property falls through.
Fix any issues with your home
If there were any problems with your home that caused the sale of your property to fall through, now is the perfect time to fix them. It’s likely other buyers will spot the issue too, so it’s better to fix them now before the next survey on your house sets you back even further.
Is your asking price too high?
If your buyer has found another property for less, it might be a sign you need to reevaluate your asking price. Before doing this, speak with your estate agents to ensure you aren’t cutting the price too much.
Find the right solicitor for you
Similarly to home buyers, sellers can also benefit from a good solicitor who can help you draft up a contract to send to your buyer, and deal with any enquiries raised by the buyer’s solicitors. A good solicitor should be able to take care of the hard work for you, so that you can concentrate on securing your new home.
I hope you have found this post on What to Do When Your House Sale Falls Through to be useful. Have you experienced this?
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