Our quick, reliable property buying service rescues aborted sales and keeps chains intact.
We are speaking to an increasing number of customers who have lost a buyer. For many, the withdrawal can come just before exchange, jeopardising the seller’s onward purchase and putting the rest of the chain under immense pressure.
Open Property Group saves chains that are on the brink of collapse, with our professional purchasing team ready to become your buyer using a fully-funded cash offer - no waiting for a mortgage and no chain behind us.
1 in 3 property sales fall through, avoid this happening to you
If you have been left high and dry by a buyer, speak to us. We will make you a quick offer, with exchange and completion within seven working days for when speed really matters.
There are many different reasons why a buyer withdraws from a purchase. These include:
A property deal that’s labelled a ‘fall through’ is one where the buyer has aborted the transaction, leaving the seller without a purchaser. Worryingly, the UK’s fall through rate is on the rise, up 18.4% in the last three years. In fact, between 1st January and 17th March 2022, almost 54,000 deals failed to make it to completion – that’s a sale collapsing every two minutes. There are ways to reduce the risk of your sale becoming another fall through statistic, which we explain here.
Sadly, there is no way of knowing whether your buyer will proceed smoothly to exchange or back out before the sale is legally binding. If you find yourself in the unfortunate situation of losing a purchaser, there is no need to panic.
There are actually five options open to sellers whose buyer has walked away from the purchase. While we explain each one in detail here, we know you’re probably interested in the fastest, most secure solution.
Open Property Group offers a rescue service that provides you with a guaranteed buyer and also breaks the chain – all secured within a matter of hours. Here’s how our professional property buying service offers the quickest way to save your sale.
Get in touch with us today and we can give you a prompt, no obligation cash offer within 48 hours.
We buy property directly and you won't pay any agent's fees.
Once you have contacted us, we will provide you with a cash offer within 48 hours. If agreeable, we can exchange and complete within seven working days – a much faster timeframe than re-listing your home with an estate agent and finding a new open market buyer. You can set the completion date to suit you.
Sellers are reliant on their estate agent qualifying potential buyers and only putting forward offers from people who are genuinely able to proceed. While chain and finance checks will help, they only form part of the picture. We recommend you press for answers if your buyer repeatedly reduces their offer, becomes unresponsive to contact from your solicitor or fails to give you a mortgage update.
While relisting your property for sale is an option, it’s not obligatory. There are other ways to find a buyer and if it’s something you need to do quickly, you may like to consider selling directly to a cash buyer or using a property auction.
That depends on how far along you were in the conveyancing process. A buyer can walk away from a sale without any consequences if they do so before the exchange of contracts. If the buyer walks away after exchange – when the sale is legally binding – a seller can sue a buyer to reclaim any losses made.
There is something called Residential Abortive Transaction Insurance (RATI) – also known as home buyers protection insurance. It hasn't got the greatest reputation in terms of cover and even solicitors don’t generally recommend RATI as the policies are very particular regarding what they pay out for.
We buy property directly and you won't pay any agent's fees.
