Selling a house can be stressful, and one of the biggest frustrations is when a sale falls through. In 2024, a staggering 28.8% of residential property sales didn’t make it to completion, according to data from Quick Move Now. Understanding why sales fail is the first step to avoiding the pitfalls.
The Most Common Reasons House Sales Fall Through
Here’s a breakdown of the primary causes of failed sales last year:
- Buyer pulled out or failed to renegotiate after the survey – 27.3%
- Buyer changed their mind and withdrew – 23.6%
- Buyer struggled to secure a mortgage – 21.8%
- Seller accepted a higher offer (gazumping) – 14.5%
- Chain-break – 7.3%
- Seller pulled out due to slow progress – 5.5%
If you’ve experienced any of these issues, you’re not alone. Fortunately, there’s a solution that significantly reduces the risk of sales falling through: selling your property at auction.
Why Selling at Auction Is More Reliable
In contrast to the 28.8% fall-through rate for traditional sales, less than 1% of property sales fell through at Auction House Scotland in 2024. Here’s why selling at auction offers a fast, free, and secure way to sell your property:
1. Legally Binding Sales
When a property sells at auction, contracts are exchanged immediately when the gavel falls. This makes it highly unlikely for buyers to pull out or attempt to renegotiate the price after the sale.
2. Cash Buyers
Many auction buyers are investors or developers who purchase with cash, eliminating the risk of mortgage delays or denials. Without the need for financing, transactions are more straightforward and reliable.
3. No Chains
Unlike traditional sales, auction buyers are rarely part of a chain. This removes the uncertainty and delays that come with waiting for other property transactions to complete.
4. Fast Completion
Auction sales are designed to move quickly, with completion required within 28 days or less. Sellers don’t have to worry about slow progress dragging out the process or risking the buyer losing interest.
Make 2025 the Year of a Stress-Free Sale
If you’re planning to sell your property in 2025 and want to avoid the common pitfalls of traditional sales, consider selling at auction. With a legally binding process, cash buyers, no chains, and a fast timeline, auctions offer a secure and efficient way to achieve a successful sale.
Ready to explore your options? Contact Auction House Scotland today and discover how we can help you sell your property with confidence. Call 0141 339 4466 or find out how much your property is worth with a free valuation here.
