10 reasons why house sales fall through
Our fall through rates were almost 23% lower than the industry average in 2024, but how do we do it?
Whether you’ve bought or sold a property before or not, it is likely you will know someone who has been impacted by a transaction falling through when typically 1/3rd of sales agreed don’t result in a successful exchange of contracts and sale completion…..but not at Sandersons!
Our fall through rate for 2024 was just 6% and there’s a reason it is so low.
A survey of fall through rates by Quick Move Now found more than 35% of property sales fell through in 2023 and 28.8% in 2024.
Why do house sales fall through?
Moving home is right up there as one of the most stressful things you can do in life. It is a lengthy process with several professionals involved, not to mention human emotions and personal challenges which can contribute towards sales falling through. The following are some of the reasons:
• The buyer or seller changes their mind mid-transaction
• The buyer struggles to obtain mortgage finance
• Conveyancing delays
• Issues with the property identified at survey stage
• Up/down valuations from lender differ to agreed purchase price
• The buyer can’t sell their own property –incomplete chain
• Someone further down the chain pulls out
• Title disputes & enquiries from local searches
• Gazunder - The buyer drops their offer just before exchange of contracts
• Gazumping- The seller gets a higher offer between acceptance and exchange of contracts
Some of the above are out of anyone’s control as personal and family circumstantial changes can’t be predicted. What we have however learnt from our decades of sales experience is that the risk of fall throughs can be significantly minimised if the entire transaction after an offer is accepted is well managed. When a sale is first agreed everyone is excited and keen to progress things quickly. If communication starts to slip, enquiries and other professionals involved in the transaction aren’t chased, people can become hesitant and less trusting of the process. It is for this reason we have a dedicated team driving every transaction forward, communicating with all parties and keeping constant forward momentum.
From the moment an offer is accepted on your property, our team works diligently to ensure a smooth journey through to completion. Regular communication, proactive problem-solving, and attention to detail are integral parts of our approach, aimed at minimising the risk of fall-throughs.
"Charlotte from the development team at Sandersons UK provided exceptional service! Her proactive approach and seamless communication ensured every party involved stayed informed and confident throughout the process. Thanks to her diligence and dedication, we felt supported and satisfied every step of the way. Bravo, Charlotte! The team at Sandersons UK acted professional and swiftly to make the process efficient as it could be. Thank you." ★★★★★ - Google review by O Max-Lino
"The Sandersons team went above and beyond to help support our purchase and navigate the challenges a long chain can present. All the way through the process they worked with other agents and solicitors to ensure we achieved a tight deadline. Charlotte Brown was our main contact and was exceptional, ensuring regular communication and follow ups. Moving is stressful but Sandersons will support you all the way" ★★★★★ - Google review By D Hartley
