However hard you try to make sure your move runs smoothly, things do happen that may mean you lose your purchase or sale.
If you lose your buyer
If you do lose your buyer, don’t panic. There are options such as:
• selling via auction;
• selling to a cash buyer;
• if you have time, it is possible to put your property back on the market - someone may be keen to view who hasn’t done so yet, as it had ‘sold subject to contract’.
New data from View My Chain, which tracks property sales and purchases, suggests that if a sale does fall through, retaining your property with the original agent means you are as likely if not more likely to sell your property again.
If you lose the property you want to buy
If you retain your buyer but have lost the property you wanted to buy, the best way to deal with this situation is to first see if there is any way you could save the sale.
If not, do go out to look to see what else is on the market. You may also consider selling your home anyway, and renting a property or moving in with friends/family until you find somewhere new to buy.
“Careful management of your sale and purchase means we have halved the number of fall throughs compared to the national average. We will not rest until you have moved into your new home.”