Sale fallen through, what do I do next?

pjs493

Tiglet2 said:

@pjs493, oh no, I am sorry to hear your latest update.  It's a horrible thing for the buyer /tenant to do, but it sounds as though they would have loved to buy your house but it just wasn't affordable for them.

Now you have to start again and hopefully sell quickly to a keen and motivated buyer.  It sounds like you stand a good chance of your vendor being able to wait for you, especially since the property had been on the market for some considerable time. Definitely not a good idea to be thinking about bridging loans when the timescale is not clear.

Yes, having weighed up the cost of the added fees I’ll incur due to the buyer pulling out, council tax I’ll have to pay on an empty property, and paying more months of rent in the interim, etc it definitely works out cheaper than the interest on a bridging loan.