Selling your property can be a stressful process. Even when you have accepted an offer, you can’t rest easy. Existing rules mean that prospective buyers can change their minds and pull out at any point until contracts are exchanged. This can leave you financially out of pocket – with solicitor’s fees – particularly on any property you might be looking to buy on the back of your sale, as well as with significant stress and heartache. They don’t even have to give you a reason why.
If you are the one that receives that dreaded phone call, here’s what to do when your buyer pulls out:
Selling your property is stressful and emotional. When a buyer pulls out it is frustrating. But it isn’t the end of the world. If they weren’t committed to the purchase then ultimately it is better to find out sooner rather than later.
Ask your estate agent why
The buyer is under no obligation to give you a reason – but out of courtesy, most will if they can. Finding out their reason can be really helpful. For example, if it turns out to be something to do with a survey or a legal issue you can try and negotiate or at least be prepared for it to come up again with your next buyer. It may even be something you can rectify yourself or with the help of your solicitor.
If it turns out to be a personal issue – such as a job or relationship change, then you can be safe in the knowledge that it wasn’t your fault. There was nothing you could have done to change the situation and no reason to believe it would happen again.
Talk to your estate agent about what next
Usually, your estate agent will get your property straight back on the market, reactivating it on Rightmove, Zoopla etc. They will also ring round any other previously interested parties to let them know the property is re-available and to see if they are still interested or in a position to move forwards.
If you were planning to purchase a property on the back of your sale your estate agent should advise their estate agents about what has happened. They will ask them to be patient and do everything on your behalf to try and ensure you don’t lose the property you wanted.
It’s easy to say – and much harder to do. But rest assured that a professional estate agent will be as keen to sell your property as you are. They will work hard to ensure your sale gets back on track and is ready to proceed again asap.
At Check 4 Houses we have managed all sorts of property sales over the past 8 years.
Simple sales that sail through with offers accepted in less than 24 hours. Complex chains that finally complete after months of negotiations. Whatever happens along the way we support our clients with personal contact from start to finish and a reliable service.
It’s the reason Paul Hemmings started Check 4 Houses back in 2010. He recognised the notorious behaviour of many high street estate agents that sometimes complicated the selling or purchase of a property for customers. He wanted to create a flexible service for customers that was as stress free as possible; offering a personal approach and a cost-effective pricing structure.
We are proud that this commitment to customer service still holds true today. Our latest happy customer Ms Leightley of Farnborough said just last month:
“From initial contact through to completion of the sale of my property Check 4 Houses gave me an honest professional service. Moving house can be a very stressful time however, Check 4 Houses made it as stress free as they possibly could for me. I would, and have, recommend Check4Houses to anyone wanting to sell their house.”
From our head office in Fleet we sell properties in Fleet, Farnborough, Aldershot, Basingstoke, Camberley, Yateley, Farnham and beyond. We can sell your home from just £599 or 0.5% +VAT – saving you thousands in agency fees. Please give us a call on 01252 819725 or contact us and we would be delighted to give you a free, no obligation valuation of your property.