“The house sale fell through 2 days before exchange of contracts and lost your new home”
Does this sound familiar? Unfortunately due to current laws regarding the sale and purchase of property in England and Wales, this is an all too common occurrence. Currently approximately 30 per cent of all offers made do not make it through to completion. This can be for a number of reasons:
* The buyers simply changed their mind
* The buyer’s buyer changed their mind
* The vendor changed their mind
* Someone in the chain lost their job and can no longer afford their mortgage
* There was a problem with the structural survey within the chain
* Someone in the chain did not get their mortgage approved
The list goes. There are all sorts of reasons why your chain could fall apart and then you could be on the receiving end of that dreaded call to tell you that there has been a problem. It all tends to happen so close to exchange as people get ‘cold feet’ and pull out at the last minute.
In these circumstances, selling to a cash property buyer can be the simplest way out. No more viewing, no more hassle, just a quick property sale with quick cash offer and completion in 7 to 10 days.