A recent report from Santander has highlighted just how common collapsed property transactions are with half a million house sales falling through every year in the UK. Nearly one in four adults said they’d had a purchase collapse, citing reasons like long delays, sellers pulling out and survey surprises. But while there are risks, the good news is there are practical steps you can take to improve your chances of a smooth move. B P Collins’ residential property team says it’s all about preparation and communication.
For buyers: Get ahead of the issues
Buying a home is the biggest financial commitment many of us will ever make, so due diligence is essential.
- Book a full survey early which can uncover issues before you’re too invested, giving you time to negotiate or walk away.
- Local authority searches, planning permissions and title deeds can reveal legal or environmental red flags. The earlier these are done, the fewer surprises later.
- Make sure your mortgage agreement in principle is solid and keep your lender updated with any changes. Financing hiccups are one of the most common deal-breakers.
If you are seeking advice on how to keep a house sale on track, get in touch with B P Collins’ property team today by email or by phone on 01753 889995.
For sellers: Preparation is key
Buyers are more likely to remain in the process if you’ve done the groundwork.
- Title deeds, energy performance certificates, planning consents and warranties should be ready to hand over.
- Tackle boundary or legal issues upfront. A wobbly fence line or a missing building regulation certificate can derail a sale. It is better to resolve these before listing.
- Lack of evidence of planning permission and building regulations approval for prior works to a property is a common cause of delay and additional cost. Please collate all relevant paperwork as early as possible. If any is missing, please speak to your lawyer before taking any further action, as contacting the local authority can make the situation worse.
Protecting yourself from the unexpected
Even with the best planning, things can go wrong. Do consider:
- What if financing falls through? Some buyers take out insurance to cover costs like legal fees if their mortgage offer is withdrawn.
- What if the survey uncovers hidden problems? If complex issues arise, such as boundary disputes, restrictive covenants or unexpected contract complications, a qualified solicitor will be equipped to advise and resolve them, keeping your sale on track.
Buying or selling a home may never be entirely stress free. But by being prepared, transparent, proactive and seeking advice from an experienced property solicitor who is familiar with the local area, will provide the best chance of crossing the finish line with keys – not regrets – in hand.
For further advice, please contact B P Collins’ residential property team at enquiries@bpcollins.co.uk or call 01753 889995.
