Four Reasons Why House Sales Fall Through

It is often said that moving house is the most stressful period of our lives. But what about the buying and selling of a home? This tense time can be fraught with worry and uncertainty – and often the sale will fall through.

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Last-Minute Jitters

The sale of a house can fall through right at the last hurdle. Unfortunately, this can sometimes not be helped – a buyer may be made unexpectedly redundant, there may be an illness in the family, or the buyer could merely change their mind.

If a seller decides to accept the offer and then suddenly decides to remain in their current home, it may be due to a lack of suitable alternative properties. The buyer may have difficulty with their mortgage request or lack of funds. The seller may receive a higher offer and accept it in place of the original, or the buyer can reduce their first offer last-minute.

These problems can stop funding being processed as per the previously agreed terms. Keep your terms updated as regularly as possible with your solicitors.

Survey Problems

There can be unexpected work required when a survey finds a problem with the building, and this can put buyers off. When selling a house, make sure you have thoroughly organised all surveys and paperwork. Get sound advice from conveyancing solicitors Guildford such as

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Communication Breakdown

Once the sale of a house gets under way, you have no control over the situation and must trust in your buyer, your solicitors and the legal process that must occur in order to get through to completion. There is a chain of people and processes involved, and if one link in this chain is broken – for example, if any one of these people has a change of mind – it can mean the end of the sale. The most important thing is to be flexible and compromise where possible.

The Little Things

Sometimes even the little things involved in a house sale can cause the biggest upset, from fixtures and fittings to fitted wardrobes and white goods. Ensure you have the best representation to negotiate and communicate well for you to follow through the sale with the correct information available. Be open to compromise – the small details are sometimes not worth jeopardising the sale for.

Author: Richard Brown

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