What is a Fall-Through?
A fall-through happens when a buyer agrees to purchase your home but pulls out before the sale is completed. This can be frustrating and costly, but there are steps you can take to reduce the risk.
Why Do Sales Fall Through?
Sales can fall through for various reasons, including:
- Buyers changing their minds or facing financial difficulties
- Issues raised in property surveys
- Mortgage complications
- Problems in property chains where multiple transactions are linked together
How to Minimise the Risk of a Fall-Through
1. Set the Right Asking Price
Overpricing your home can lead to delays and discourage serious buyers. A realistic asking price increases the chances of a smooth sale.
2. Get Your Home Sale-Ready
First impressions matter! Ensure your property looks its best by fixing minor issues such as leaky gutters, damp patches, or a faulty roof. A well-maintained home reassures buyers and avoids problems later.
3. Organise Your Paperwork
Having all necessary documents ready can speed up the process. This includes:
- Details of boundaries and alterations (e.g., extensions, new boilers, or windows)
- Lease and ground rent information (for leasehold properties)
Being prepared prevents delays during conveyancing.
4. Choose the Best Buyer
If you receive multiple offers, consider:
- First-time buyers or cash buyers (as they aren’t part of a chain)
- Buyers who have already sold their home
The more committed the buyer, the lower the risk of a fall-through.
5. Pick a Reliable Conveyancer
A good solicitor or conveyancer can make all the difference. Look for professionals with excellent reviews and a reputation for efficiency rather than just opting for the cheapest option.
6. Respond to Queries Promptly
During the sale, your solicitor will have questions about your property. Quick and accurate responses prevent unnecessary delays.
7. Stay Proactive
If you sense any issues, don’t hesitate to ask questions. There might be a simple solution that prevents the sale from falling through.
8. Be Certain About Your Move
Ensure you genuinely want to sell. Know where you want to move, what you can afford, and what offers you’re willing to accept. Uncertainty from the seller’s side can contribute to a failed sale.
How Belvoir Southampton Can Help
Choosing the right estate agent is key to avoiding fall-throughs. At Belvoir Southampton, we:
- Provide expert pricing advice
- Help find committed buyers
- Support you through every stage of the sale to ensure a smooth process
For a free market valuation and expert advice on selling your home, contact Belvoir Southampton today.
If you know someone thinking of moving, share this with them! Want more insights? Request our free guide – From Offer to Keys – for a complete breakdown of the home-selling process.
