Buying and selling property can be a brutal process. You pin all your hopes on a sale, push on with all the necessary admin, pack up all of your belongings, and then boom, your buyer pulls out, and you’re left with no security, surrounded by boxes, with no clear next step.
It can feel devastating when such a big event, that you’ve planned for so long, falls through at the last moment, and it’s natural that you will feel a huge mix of emotions including disappointment, anger, frustration, and many more besides! All of these feelings are completely normal, so don’t be afraid to let yourself feel them as you come to terms with the change of plan.
While you do process the change in circumstances, we’ve pulled together a few ideas for coping strategies and next steps that might help you adjust.
Seek professional advice
One of the first things to do if you’ve had a house sale fallen through is to get feedback from your real estate agent to try and find out a bit more about why the buyers pulled out. It could be that it’s nothing to do with your property at all, but simply a change in their personal circumstances like a job loss or illness. It might be though that an issue that was niggling them has become too big to ignore.
Perhaps they were compromising on outdoor space or parking and they realize they can’t make the sacrifice, or maybe they felt it was too big a renovation project after all? If you can understand what it was that made the sale fall through, there may be changes you can make to the property to improve your chances of completing.
Have a financial check-in
It’s important to think about how the change of plan is going to affect your finances, either directly or indirectly. If you’re moving because you’ve accepted another job that farther away for example, is this going to mean additional travel costs in the short term? Do you have the budget to keep living where you are if your house move was for downsizing?
Be brave and take an honest look at where you stand to help you regain that feeling of being in control.
Lean on friends and family
A lot of people feel reluctant about asking for help, but there is no shame in reaching out to friends and family for support, whether that’s for practical help with storage or simply a shoulder to cry on while you get yourself back on your feet.
They say a friend in need is a friend indeed, and you’ll find this is true – people get a lot of satisfaction from helping people they care about to get through a tough time and they’ll most likely be pleased that you asked.
Aside from anything else, stay positive! As disheartening as it is to have a house sale fall through, it could just mean an even better offer is just around the corner!