05/05/2021
Mortgage issues, gazumping, survey faults or a chain-breaking, there are many reasons why a property sale can collapse.
According to recent figures, it takes an average of nine weeks or 63 days between the point of listing your home for sale and accepting an offer. Unfortunately in the 11 weeks it then takes for a sale to complete, there’s nothing stopping a sale from falling through. Aside from it being frustrating, fall throughs can cost a lot of time and a lot of money.
Newly released data from homebuying platform, Yes Homebuyers, reveals that while over a million transactions completed last year, 225,000 additional sales fall through before reaching the finish line.
Based on the average cost of £2,700 per fall through for these 225,000 sales, it’s costing home sellers £607,500,000 a year.
Not only this but with the 63 days between listing and accepting an offer equating to little more than wasted time, the 225,000 home sellers impacted are potentially losing a huge 14,175,000 days a year collectively, due to sales failing to complete. When you consider many fall throughs don’t happen immediately after accepting an offer, the time wasted is likely to be even greater.
If you're looking for a guaranteed assured sale contact us today to see how we can buy your house within 14-28 days!