Pattinson Auction - Combatting Sale Fall-Throughs
If your clients are trying to sell their properties, you may already be aware of the unfortunate truth that sale fall-through rates are on the rise in the UK. Despite strong demand in the property market, an increasing number of agreed sales are failing to reach completion.
Why Are So Many Property Sales Collapsing?
The reasons behind this growing issue are varied and complex, but here is what we have discovered is seemingly driving the trend:
- Rising Mortgage Rates: Higher borrowing costs mean more buyers are struggling to secure financing, especially when interest rates change between offer and completion.
- Stamp Duty Pressure: With the 1st April stamp duty deadline a couple of months ago, many buyers were scrambling to complete quickly. This sense of urgency led to many rushed decisions and more withdrawals.
- Survey Surprises: Negative survey results revealing structural or hidden issues can trigger immediate buyer hesitation or renegotiation, sometimes ending the deal altogether.
- Buyer Uncertainty: Financial insecurity, shifting priorities, or simply ‘cold feet’ are more common in today’s economic climate.
- Market Overload: Increased market activity means more transactions, but also more chances for things to go wrong within fragile chains.
The Real Cost of a Fall-Through
Sales falling through aren't just emotionally draining for you and your clients, they can be financially damaging for you both also.
- Wasted time, as well as solicitors, and fees
- Delayed timelines causing logistical headaches
- Lost marketing momentum
- Risk of price reductions when relisting
- Potential legal disputes if contracts were exchanged
By partnering with Pattinson Auction, you can offer your sellers a safer, faster, and more transparent way to sell their property not to mention a better price. Our modern auction service is designed to eliminate the most common reasons sales fall through.
Why are More Estate Agencies Choosing Us?
- Upfront Legal Packs and Legally Binding Agreements: Unlike traditional methods, auction sales are secured with a legally binding contract or reservation agreement from the moment the hammer falls which reduces fall-throughs considerably.
- Fast Completion: Most of our sales complete in 28 to 56 days, meaning less time for delays, surprises, or changes of heart.
- Transparent Process: Buyers bid openly, ensuring fair market value with no hidden renegotiations or gazundering.
- High Buyer Commitment: Auction buyers are pre-qualified and financially ready, reducing the risk of failed mortgage applications.
- No Upfront Seller Costs: Sellers can list with zero marketing fees in most cases offering a risk-free path to sale.
If you're facing delays, nervous buyers, or failed transactions, there is a better way.
Partner with us and discover how certainty, speed, security, as well as best price, can transform your sale experience.
Pattinson Auction – Auction by name, secure sale by nature.