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.