020 7223 3837
108 Streatham High Road, London, SW16 1BW
020 7223 3837
108 Streatham High Road, London, SW16 1BW
estate agents
020 7223 3837
108 Streatham High Road, London, SW16 1BW

However, there are some issues that arise that cause a buyer to pull out of a property deal, taking a vendor back to square one.

Therefore, if you are aware of these main problems and know how to prevent them from arising or knowing what you can do to resolve them, you can be more confident in your deal concluding successfully. Therefore, knowing how to avoid these four problems that block property sales will be of benefit to most vendors.

Bear these four problems in mind

While a buyer may pull out of a property sale for many reasons, here are four common reasons:

Problems in the property chain

The buyer has changed their mind

Lawyers don’t correspond quickly enough

The valuation of your property causes concerns for prospective buyers

Problems in the property chain

You may not think that there is much you can do to prevent a problem from arising in a property chain. After all, if another buyer or vendor experiences problems, there is not a lot you can do. However, you may have an opportunity to minimise your exposure in dealing with property chains.

If you are fortunate enough to receive more than one bid, don’t automatically assume the highest bid is the best bid for you. Review the bid and the buyer and if the lower offer comes from a buyer who isn’t part of a property chain, consider the impact this may have on the deal.

If you can afford to accept the lower offer, the confidence that comes from selling to someone who isn’t involved with a chain is appealing.

The buyer has changed their mind

If the buyer changes their mind, you may not think there is too much you can do to change it back. However, there may be reasons as to why the buyer has experienced doubt, and you could be able to help them.

It is natural for a buyer to experience nerves when committing to a property purchase. It is likely you experienced a similar feeling in buying your own home, and if you did, discuss this emotion and how you overcame it.

If the buyer is concerned about the value of the purchase, consider if there is anything associated with the house you can afford to leave behind with the buyer. When placing your home on the market, you should create a list of must-have items and things you are not willing to negotiate away from.

Once you have these items in place, anything else can be negotiated away or traded in order to conclude the deal. If you are willing to be flexible with the buyer, you may be able to make them feel happier with the deal.

Lawyers don’t correspond quickly enough

One issue that causes problems with some property deals is lawyers not corresponding quickly enough. Hiring a dependable lawyer with a strong reputation makes sense because not only will they provide you with guidance and support, they will stay in constant contact with the buyer’s solicitor.

If you have concerns about the buyer’s solicitor and their rate of correspondence, speak with your solicitor and ensure that this is a focus for your team.

The valuation of your property causes concerns for prospective buyers

Many deals collapse because a report suggests the property is priced too high. If you are willing to negotiate or you are happy to carry out repairs at your home, you can salvage the deal. As a vendor, it is worthwhile having your home reviewed and valued so you can price it accordingly and gain insight on how to improve your home before placing it on the market.

Selling your home is difficult and at times, you may feel as though you’ve hit a brick wall in the process. However, many house sales are concluded after numerous twists and turns and at Holmes, we are here to ensure you sell your home in an effective manner. If you want support from a skilled and experienced estate agent, get in touch and we’ll be happy to help.

020 7223 3837
108 Streatham High Road, London, SW16 1BW
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