Situation 2 of 10
Your house sale has fallen through
About one in four agreed sales collapse. Why it happened decides what you do next.
“The buyer's mortgage fell through.”
How to improve it
- Find out whether it was the buyer (credit, income) or the house (the lender valued it below the price).
- If the house was valued low, ask for the figure. Your next buyer's lender may say the same, so price for it.
- Next time, ask buyers for a mortgage agreed in principle and a broker's name before you accept.
“Their survey found problems and they walked away.”
How to improve it
- Ask for a copy of the survey. The next buyer's surveyor will find the same things.
- Get written quotes. A real number calms buyers far more than a scary sentence in a report.
- Then fix it, or reduce the price by the quote. Not by the buyer's guess, which is always higher.
“Someone further down the chain pulled out.”
How to improve it
- Ask whether your buyer can still proceed, for example by finding a new buyer for their own home quickly.
- Buying your next home at the same time? Ring the owner of that house straight away and explain. Many will wait a few weeks if you're honest with them.
- Next time, favour chain-free buyers: first-time buyers, people renting, or cash buyers.
Your 48-hour plan after a fall-through.
Other situations
- Your house isn't selling and nothing's happening
- Selling a house you've inherited
- Selling a house that needs work
- Selling a house during separation or divorce
- Selling a house with tenants in
- Behind on the mortgage
- When you owe more than your house is worth
- Selling your house when you're relocating
- Selling a parent's house to pay for care