My house sale has just fallen through and I'm really nervous about losing my onward purchase.
Unfortunately, house fall throughs are something that happen on a weekly basis with estate agents, which is never a nice experience. They can happen for several different reasons, mortgage offers may be declined, surveys may come back worse than expected, people might even have a lifestyle change and decide that actually, this is not the right house for them.
One in three house sales on average fall through, which means you have a thirty three percent chance of having that happen to you, so it’s definitely good to be prepared for that eventuality. How you react to it is really important. We suggest, if you have your house sale fall through and you're a month or two progressed, I would call the agent you're buying from and let them know 'Hey, I've just lost my buyer, we sold quite quickly the first time', and just ask them to hold on for a couple of weeks till you find a new buyer. More often than not, agents will be happy to do that. If they're not, that’s unfortunate, and sadly there's nothing you can do to control that. But there's certainly a plan to put in place. Our recommendation is to put your property back on for a good price, get viewings around straightaway, get it sold again and get moving. We've had some really great experiences with people who have lost their sales and been able to move on to still have a positive experience. We wouldn't be sat here in this office if the model didn't work. People do move, and it does happen, and the world doesn't come to an end when you have a fall through.