Yorkshire Post - Property

Heavy price of failed sales transactio­ns


Survey: Property purchasing specialist HBB Solutions has counted the cost of sales collapsing and say they cost UK homebuyers and sellers £880.4m in 2021, a £74m increase on the previous year.

The most common reasons include broken chains, survey issues, conveyanci­ng delays, gazumping and a breakdown in negotiatio­ns

The average cost of this collapse is £2,700, with buyers and sellers incurring costs such as survey fees, conveyanci­ng costs and the cost involved around certain mortgage arrangemen­ts. One in every five transactio­ns will fail to make it over the line.

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