Sale fallen through- starting from scratch advice

[alesl360]

Hello All

Today we received news that sadly our buyer's mortgage was not approved and so their offer has been withdrawn.

Just yesterday we received our mortgage offer for a house that we absolutely love. It's taken us months to get to this point and we were over the moon. Today, however, we are feeling so deflated, and having to start from scratch again to sell our house feels so tedious and daunting.

The house has been relisted online but because it first came on at the end of June it's nowhere near the top of search results...

When the house first went on sale we had so many viewings and we accepted the offer after 2 weeks.

This time round I have a feeling things will be slower, especially since it looks like it's been on the market for so long

Anyone had a similar experience? Did you find less ppl were viewing the property the second time round? Just keen to hear some positive stories really as I'm feeling super dejected today!

Thank you

Hi, sorry this has happened to you. It happened to us twice! The first set of buyers offered at the end of September, then pulled out in early March. In order to keep the place we wanted to buy and the chain, we had an open day and the EA got 14 viewers in that day, which generated 3 offers. We were under offer again within a week of it falling through. Then at the end of May, a few days before we were due to exchange, our buyers pulled out citing devastating work news as their reason. Within 24 hours we were under offer again to a couple who saw It at the open day but had missed out. We completed yesterday! Something I never thought would happen! It’s been a long journey, but we keep going with our aim of moving house. We got here in the end. Good luck!

If you slightly reduce the price will it come up at the top of most recent?

I'm about to sell and buy and frankly it's terrifying.

Reduce the price slightly then you will be back at the top.

Your agent needs to reduce it by 2% to get it back into people’s rightmove inboxes. But the first port of all is them phoning all previously interested parties. Good luck.

This also your timing is pretty good as September can be when things pick up a bit after the summer. We had a nightmare spaced out over 3 years. Things like we listed 2020 in the summer and within 3 weeks of going on the market house prices for what we were looking at went up 50k in space of 3 weeks as lots of people wanted to move further out of the city, We were 100 miles away and prices stayed the same by us.

Year 2 we tried again, buyer within 48 hours who we thought would be a good bet with mortgage as solicitor but he was trying to downsize plus buy a house for daughter and couldn’t port mortgage so we gave up again,

Year 3 tried again. Stupidly went on in what I hadn’t realised was February half term plus on the day of a big storm .Nothing much happed for 6 weeks then 3 offers the same day. This person also couldn’t get mortgage despite everyone assuring us he could.

Agent took under offer sign off on his way home Friday night. Saturday morning neighbour turned up asking if cousin could look as was thinking of selling and agent called, someone had seen it had fallen through, could they loom on look as they were going away, I showed them around as agent couldn’t , dropping in the earlier viewing,

They asked what it would take to get itnthe house, decided not to be greedy, said what we had accepted before. Could have been tricky as a split chain with parents and daughter both selling but all went through smoothly in less than 10 weeks leaving us in rental in new area getting us 10% under asking on a house we didn’t think we could afford.

Thanks all for your responses
It's so reassuring to see that others in the same situation have had positive outcomes..
Calling the estate agent now to see if we can adjust the price!

Oops, wrong thread

edited out nonsense