Selling with another agent and your sale falls through. What can you do?

This can be devastating news - you are back to square one - extremely stressful and upsetting. You will have legal fees to pay on the work that has already been done. You have lost the one you want to buy as this one also needs to go back onto the market. It's not right a buyer can walk away on a whim just before exchange of contracts.

There can be many reasons why you lose your buyer. It could be...

1. They've just changed their mind and won't give a reason.

2. They want to lower their offer price.

3. They now realise they can't afford all the fees when buying.

4. The survey has raised issues that has put them off.

5. They have problems with their mortgage

Is there a way to stop this?

Yes there is - Cooper Adams lock the seller and buyer into a Reservation Agreement - a legally binding contract to stop either side messing around. People can't then change their minds. The sale price is fixed. If unknown expensive essential repairs are discovered after a survey there are clauses for that. We are very thorough on checking mortgage suitability before we agree a sale but if two lenders move the goalposts and the buyer fails again it's not their fault which is accepted under the agreement.

Reservation Agreements will soon be standard UK law like virtually every other country in the world.

If your agent didn't offer this - we would love to help.

Make your sale secure and choose an agent that offers Reservation Agreements - if there isn't one near you - ask us and we can still help you with this.