How many sale agreed house sale's fall through???

Falf

Can anyone tell me how many house sale agreed sales fall through. It's very hard to find out how many are actually failing..???

coylemj

Who do you think is counting? Sales fall through for all sorts of reasons, it's usually sorted out privately so there is no central source of data to supply the information you're looking for.

T-Maxx

I think I read somewhere that it's about 45%. I could be wrong of course.

Falf

I ask because my friend had gone sale agreed on a house that she loved but vendor pulled out last minute, she got her deposit back. auctioneer had told her that it doesn't happen very often. I'd say myself it's happiness a lot but more so on the buyers side of it..

davo10

Falf wrote: »

I ask because my friend had gone sale agreed on a house that she loved but vendor pulled out last minute, she got her deposit back. auctioneer had told her that it doesn't happen very often. I'd say myself it's happiness a lot but more so on the buyers side of it..

Is this a rip off? Sales often fall through because the buyer pulls out, it's not always the vendor.

Falf

Apparently there was garage conversion to a apartment, there was planning for garage but not as apartment. Having said that I myself would not have bought if this was the case. It might have being all for luck. Vendor just changed his mind id say. O and i posted this in rip off ireland because I think myself house prices today are a rip off, over valued by auctioneers.

davo10

Falf wrote: »

Apparently there was garage conversion to a apartment, there was planning for garage but not as apartment. Having said that I myself would not have bought if this was the case. It might have being all for luck. Vendor just changed his mind id say. O and i posted this in rip off ireland because I think myself house prices today are a rip off, over valued by auctioneers.

Property is worth only what someone is prepared to pay for it, if a buyer overpays, that isn't a rip off, it is a buyer prepared to pay a certain price for a certain commodity.

saabsaab

From personal experience and that of family and friends I'd say 2 out of 10 or so where sale agreed doesn't go through.

VincePP

Falf wrote: »

Apparently there was garage conversion to a apartment, there was planning for garage but not as apartment. Having said that I myself would not have bought if this was the case. It might have being all for luck. Vendor just changed his mind id say. O and i posted this in rip off ireland because I think myself house prices today are a rip off, over valued by auctioneers.

If houses were over priced you'd have builders building thousands of them - but they are not because except for some prime areas the cost of bulding is higher than the estimated sale price.

An A -rated 3bed house of 90sqm costs about 140-150k to build in a good quality development. Remember its not just the bricks and mortar on the house that forms part of the price. Services to the estate such as water, sewage, open space, public lighting, paths and roads are all part of the cost.

As for sale falling through - in case above the buyer's solicitor would not have allowed sale proceed as there was a planning irregularity and the sellers solicitor probably pointed this out and hence it fell through.

The bank also would probably not have given a mortgage for something that had a planning issue.

But in terms of a seller cancelling out of a deal - its quite rare. Whereas buyers cancelling out, its common as many issue can arise esp planning and finance.

ben.schlomo

Why is this thread here? Think i'll start one about goats next.

VincePP

ben.schlomo wrote: »

Why is this thread here? Think i'll start one about goats next.

The OP thinks house prices are a rip-off.

Latest mart prices show Goats have gone up by a guinea a head - heading to rip-off territory. Another guinea and I reckon you be able to out the post up :P