One Third of Property Purchases Fall Through

According to a recent survey by consumer organisation Which? it revealed that nearly a third of homebuyers saw their purchase collapse after their offer was accepted.

The survey carried out was on 2000 homebuyers in February 2016, 28% said that following an offer being accepted the purchase fell through, 27% giving the reason as a change of mind by the seller.

The average loss suffered by those buyers who admitted to being out of pocket was
£2,899, this was mainly attributed to unrecovered conveyancing, survey, mortgage valuation and brokerage costs.

To read the full report from Which? click here

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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