Brought to you by Daniel James Residential
The property market in 2024 has presented a number of challenges for buyers and sellers alike. Recent statistics highlight key causes of failed house sales and provide insights on how to navigate these hurdles successfully. At Daniel James Residential, we are committed to helping our clients achieve smooth transactions and minimise disruptions.
Leading Causes of Sale Fall-Throughs in 2024
- Survey-Related Discounts: Surveys revealing unexpected issues were the leading cause of failed sales, accounting for 27% of fall-throughs. Cash-strapped buyers often demand significant discounts after receiving survey results, leading to breakdowns in negotiations.
- Buyer Withdrawal: 24% of failed sales were due to buyers changing their minds and withdrawing from the purchase.
- Mortgage Difficulties: Another 22% of sales fell through due to challenges in securing a mortgage.
- Chain Breakdowns: Only 7.3% of deals failed as a result of broken chains.
- Higher Offers Accepted: 14.5% of sales failed because sellers accepted higher offers from other buyers.
Tips to Minimise Fall-Throughs
At Daniel James Residential, we believe in proactive strategies to mitigate these risks. Here are our recommendations:
- Keep Your Property Available Until Surveys Are Confirmed: To avoid unnecessary delays and fall-throughs, we advise our sellers to keep their property listed as available until survey results have been confirmed. This ensures flexibility and minimises risks.
- Conduct a Pre-Market Survey: Sellers are encouraged to commission their own survey before marketing their property. By having a clear understanding of your home’s condition up front, you can address any issues in advance and present buyers with accurate information. This transparency builds trust and can prevent last-minute renegotiations.
- Set Realistic Expectations: Understand the current market conditions and prepare for potential buyer requests. Having a trusted estate agent guide you through the process can make all the difference.
- Secure a Pre-Approved Mortgage (For Buyers): Buyers should aim to have their mortgage pre-approved to ensure smoother negotiations and minimise the risk of delays or complications.
Insights on the Market
The property market in 2025 continues to be shaped by economic and political factors. Although mortgage interest rates have reduced slightly compared to last year, they remain higher than many had hoped. Inflation, which fluctuated throughout the year, is rising again, potentially impacting further base rate reductions. Additionally, international political uncertainty continues to influence the economic outlook and buyer sentiment.
Despite these challenges, the market remains cautiously positive. Quick Move Now reported that 29% of sales fell through last year, which is within the typical range of 18% to 40% experienced by agents.
Our Commitment to You
At Daniel James Residential, we understand how stressful property transactions can be. That’s why we take proactive steps to safeguard your sale and ensure you’re equipped with the information and support you need. Whether it’s advising on surveys or navigating buyer concerns, our expertise is here to help.
Contact us today to discuss your property needs and how we can help you achieve a successful sale.
Warm regards,
Daniel James McGowran MNAEA
Daniel James Residential
Oswestry’s estate agent
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