The number of property transactions that have fallen through in the UK saw a quarterly rise of 18% according to the latest analysis by compliance firm Moverly, while withdrawals rose by 2.1% albeit off a much larger base.

The data shows that during the second quarter of 2024 a total of 76,619 property transactions fell through, while during the same period some 187,262 properties were withdrawn by vendors, which is equivalent to 2.4 withdrawals for every fall-through.

So is there anything that can be done to prevent sales falling through? 

Here at Key One Property, we offer our vendors and buyers the option of a sale reservation agreement. This is entirely separate from a property sale contract and whilst it does not compel either party to complete, it does bind a party who withdraws from an agreed sale, without good reason, to pay the other £500 compensation. That would include a buyer who simply changes their mind, or a vendor who withdraws their property, or indeed decides to accept a higher offer after a sale is agreed, known as gazzuping. "Good reasons" for a buyer to withdraw would include adverse and unresolvable survey or legal issues; in such a case the buyer would receive a full refund*.

The scheme gives both buyers and vendors some assurance in the sale process and helps to prevent sale fall-throughs. We offer this service to vendors and buyers completely free of charge.

What's more, with our 0.5% sale fee, vendors can be assured that they are getting one of the best rates to sell their home.**

*subject to scheme t&cs available before committing.

**subject to min fee, marketing, t&cs.