There’s always the urge to pop open the bubbly once you’ve received an offer on your property. You should, of course, hold off on doing this. Why? Well, quite frankly it’s not a done deal until you’ve both signed on the dotted line and the money has been exchanged. Up until that point, there’s still the dreaded likelihood that the buyer might pull out – and as a result, you should keep an eye out for any signs that this might be about to happen. With this in mind, here are three clues that the sale of your home is about to fall through.
It takes two to tango when it comes to a house changing ownership. Since both parties stand to benefit immensely from the sale, it’s only natural that vendors and buyers will want to establish a firm stream of communication. Obviously, when this breaks down it’s a warning sign of sorts, perhaps indicating that one side has cold feet. After all, any unnecessary silence could hinder the sale – and who’d want that if they were genuinely keen for it to go through?
A buyer will have to summon a solicitor, meet with a mortgage advisor and hold a survey to get the process out of first gear. It’s not until these things happen that a vendor can fully assess the buyer’s level of seriousness. If they miss these important milestones – all of which should come within a few weeks of the bid being placed – it could reflect that the buyer isn’t interested in progress.
There are many reasons why a buyer might try to re-negotiate the original bid, such as that their finances have changed or because the survey has flagged up something that they’re not happy about. The fact that money is once again being discussed usually means that the buyer is ready to walk away from the deal if they don’t get their way.
It can be awful to have a buyer pull out of purchasing your property. However, if this happens you can still sell house fast with the help of Spring. Through going down this route you won’t have to worry about the same thing happening again, and instead can rest-assured that a quick sale will go through.