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Get a quick sale when your buyer drops out

Get a quick sale when your buyer drops out

Can you get a quick sale when your buyer drops out? That's the million pound question. The prospect of your property chain collapsing is the stuff of nightmares. But in the current market all too common.

Truthfully, it depends on how flexible you are. If you're not flexible on the timing of your house sale or the price you'll accept, then it's a tall order.

To get a quick sale when your buyer drops out you might have to consider trying to sell in a number of different ways at the same time.

It sounds daunting but doesn't have to be.

But any decisions you make should be made in relation to your priorities. And these may have shifted with the loss of your buyer.

Getting a quick sale can be easy. If you know how.

But, achieving a quick sale that meets your (possibly now shifted) priorities, is a different story.

Realise now. To get a quick sale when your buyer drops out suddenly may involve some compromise. And getting a quick sale is hard work. You'll realise by now you can't take a quick sale for granted.

Yes, you've lost your buyer at the eleventh hour. That can be hard to cope with. But you can still get a quick sale when your buyer drops out. You just have to pick yourself up and get on with it.

Now is the right time to pause to assess what really matters.

Are you up against a deadline? What happens if you miss it?

If you're emigrating or relocating you may be able to re-locate without selling your home first. You can always hand-over the responsibility for the sale (formally or informally) to someone else. Perhaps a relative. Be pragmatic. Likewise a probate property sale can usually wait for a buyer. Getting a quick sale may not really be as urgent as you first thought.

On other hand if you're suffering from a house chain collapse and you're at risk of losing your new house then you may just have to let it go.

It's best to prepare for  the worst.

 

To get a quick sale when your buyer drops out there are a few things you can do.

Get a quick sale when your buyer drops out if your deadline is flexible or you need sell at close to market value..

If your selling through estate agents you can try dropping the price of your property. Just a bit. You can also think about ways you might offer incentives to your agent. if using incentives incorporate both a deadline into the agreement and a price your agent must reach.

You can also consider opting to go the joint or multi-agency route but it needs to be handled with care.

Want more tips and tricks for working with estate agents? Try our guide to estate agents.

Depending on the type of agreement you have signed with your estate agent you may also want to try selling privately.

If time is of the essence and your property is suitable consider putting high profile ads in evening newspapers as well as on the internet.

Don't just think of using online estate agents. Also try general sites like Gumtree which have

 

sections devoted to property or sites which cater to your local area. Need more detail? Try our guide to selling privately.

Neither selling through estate agents or privately will definitely get you a quick sale when your buyer drops out. But they can be worth sticking with.

 

Get a quick sale if your buyer drops out if you simply have to sell..

But what do you do if your sale is more pressing? What if you do need a quick sale sale when your buyer drops out?

If you need to complete your sale within a month your options are limited. And if you need a high degree of certainty too, then selling to a professional cash property buyer is the more obvious route.

Time poor, but have some equity?

If you're fed up with higher mortgage or loan payments a quick sale sounds very attractive. A cash buyer can offer a way out. Quickly. Especially if you're interested in renting your property back or are already in arrears. A "rent your house back" arrangement is not available through an estate agent. This kills two birds with one stone. You get a quick sale when you buyer drops out and a place to live.

Trying to avoid repossession in days or weeks?  A firm commitment to buy will halt proceedings.

If you're having to cope with difficult circumstances such as bereavement or divorce or separation only you can decide how urgent your property sale really is. Yes you'll want to get a quick sale if your buyer drops out, but your time may be taken up elsewhere making it hard to get a quick sale on the open market.

Emigrating in a few weeks weeks but need to take cash with you? A professional cash buyer's "cash for your property" service may be the best option. Nine times out of ten it only works if you're prepared to consider a cash offer for your property below full market value.

Why the lower price? The cash buyer guarantees to buy your property. Estate agents don't guarantee to find you a buyer.

The "cash for your property" service is paid for using some of the equity you have in your house. There are no fees. No cash payments of any kind. It brings an end to uncertainty and lets you move on.

It is possible to get a quick sale when your buyer drops out. But you do need to compromise.

Just remember. Be sure of your priorities, know your buyer and be as flexible as you can. This will stand you well if you hope to get a quick sale when your buyer drops out at short notice.


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