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A quarter of house sales fail to complete – what to do when plans need to change

Written by on February 12, 2020

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You’ve found a buyer for your home, you’ve had an offer accepted on the property you want to buy – so now it’s just down to the legalities and hopefully you can be moved in within three months, all being well.

But for many people things might not be that simple. Research from independent home buyer Quick Move Now has shown that almost a quarter of house sales fell through before completion in 2019 (24.42 per cent).

Looking specifically at the final quarter of 2019, it rose to 28.21 per cent. Although those figures might sound scary, the annual average is actually the lowest it has been since 2013!

Sales fall through for a variety of reasons. The vast majority which failed to complete in October to December 2019 were down to the buyer changing their mind (36 per cent). A further quarter (27 per cent) failed due to the seller accepting a higher offer from an alternative buyer.

Other reasons for sales collapsing included problems securing a mortgage (18 per cent), a problem identified by a survey leading to the buyer pulling out (9 per cent) and a problem in the chain, with a sale elsewhere in the property chain falling through (9 per cent). Other reasons include the seller pulling out due to slow progress.

As a seller or a buyer it can be devastating when things fall through, and it can happen right up until the day of exchange. It’s one of the reasons we always recommend taking out insurance on your home removal booking, just in case things need to change last minute.

However, if the problem is with the house you’re buying, rather than the chain below you, you have the option of continuing with the sale of your existing home. For many people, especially if they’ve struggled with a chain previously or to get a sale at a price they’re happy with, they’d rather ensure their house was sold. They can then move into rented accommodation or in with friends and family, giving them time to house hunt for their perfect home, without the worry of a sale to manage as well.

If that’s an option you decide to take, storage can be a great help. You could continue with your removal booking and we would pack everything into containers on the van, before transporting them to our secure storage centre. They’ll stay there, safely sealed, until you need them. Handy if you’re moving into a furnished rental or sleeping in someone’s spare room for a few months – just take what you know you will need.

Alternatively self storage could be an option. At our secure self storage centres in Leeds, Harrogate and Wakefield, you can hire a storage unit to suit your needs and store items there yourself – accessing things as and when you need them. We can even help with a man and van service to get them to the unit – or safely deliver them to your new home.

If your sale has been left in the lurch, give us a call to chat through some options. Our friendly team is always happy to help!

Testimonials

Your Self Storage Experience

Have used self storage for some while now and our needs for the room size had changed, (needed smaller room). popped in to discuss and within 15 minutes a smaller room had been located and allocated. Completed the actual move the following week. Staff very helpful, knowledgeable and friendly.

5 Stars
Your Self Storage Experience

From the first phone call the service was excellent I obtained all the information I needed and pretty much made my decision there and then that I going to use them to store my belongings.
Upon signing up, Tina was amazing. Nothing was too much trouble for her, she showed me around different units so I could size them up before deciding which one I would need. She was so friendly and helpful and even gave me a direct contact number should have anything happened when I was at my unit.
I would definitely recommend using McCarthys again as their team are friendly and professional and the prices were the best in the area!

5 Stars
Your Self Storage Experience At Wakefield

Brilliant, professional and very friendly service. Flexible in terms of unit size and length of storage. Wendi & Santa deserve a special welcome!!!

5 Stars

Contact Us

Leeds

The Storage Centre, Meanwood Road,
Leeds LS7 2AH

Removals: 0113 262 3000 /
0113 262 4000 hello@mjmccarthy.co.uk

Storage: 0113 26 26 500 leeds@mccarthysstorageworld.co.uk

Opening Hours:
Monday-Friday: 08.00 to 17.30
Saturday: 09.00 to 16.00
Bank Holidays: 10.00 to 14.00

Harrogate

The Storage Centre, Ripon Road,
Harrogate HG1 2BS

Removals & Storage:
01423 625 000 harrogate@mccarthysstorageworld.co.uk

Van Hire: 01423 625 000 harrogate@mccarthysstorageworld.co.uk

Opening Hours:
Monday-Friday: 08.00 to 17.30
Saturday: 09.00 to 16.00

Wakefield

The Storage Centre, Kirkgate,
Wakefield WF1 1UW

Removals, Storage & Shredding:
01924 663 555 wakefield@mccarthysstorageworld.co.uk

Opening Hours:
Monday-Friday: 08.00 to 17.30
Saturday: 09.00 to 16.00