One thing still missing: did the previous buyer attach any survey or inspection condition to the offer? Even though the inspection was not the cause, understanding what protection they requested could help you judge whether the next offer is actually cleaner.
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Buyer withdrew over financing—what should I change before relisting at £811,200?
- Thread starter watchTheSlate
- Start date
Also ask when financing uncertainty first became apparent. If it was visible early but nobody imposed a response deadline for updated evidence, tightening communication may prevent another several-week drift. A deadline cannot force approval, but it can force a decision about continuing.
Have the property paperwork ready before viewings restart, not merely after an offer. That will not solve financing, but it removes a separate source of delay and makes it easier to tell whether the buyer is progressing. Your conveyancer can identify what needs updating.
On comparables, recency alone is not enough. A completed sale on the same street can still be misleading if the condition, size or tenure differs. Ask the agent to explain each adjustment rather than presenting a list that happens to cluster around £811,200.
For the new response deadline, state what must arrive by then: offer amount, chain details and financial evidence acceptable to the agent’s process. Otherwise buyers may meet the deadline with a bare number while the important questions remain unanswered.
Fatima’s point about borrowing proportion is useful, but I would also trace the deposit source. “Available deposit” may depend on a related sale or another unresolved event. That does not make the buyer unacceptable; it simply belongs in the risk comparison.
I’d give the agent three questions before authorising the relaunch: Was there any lender valuation issue? Which completed sales support the proposed price? What stronger evidence will be requested from the next buyer? Those answers should determine whether anything actually needs changing.
Agreed. If there was no valuation shortfall and the comparables support the price, I would relist at £811,200 with better screening. If the lender’s valuation was materially lower and the evidence supports it, then price becomes the issue rather than buyer selection.
On deposit exposure, I would not try to manufacture certainty by demanding unusual non-refundable money without legal guidance. It may complicate negotiations and still not address mortgage approval. Better verification and a realistic timetable are the cleaner first steps.
And don’t let “cash buyer” end the inquiry. The relevant point is whether funds are evidenced and accessible for the proposed transaction, not the label. Equally, a financed buyer with clear documentation may be preferable to a vague cash claim.
The agent’s incentives are worth remembering too. They may favour the offer most likely to be accepted or the price easiest to market, but you need the underlying facts. Ask for the offer comparisons and completed-sale reasoning in writing so you can make the trade-off yourself.
We know the inspection did not end the deal; what remains unclear is whether the lender rejected the buyer or disputed the property’s value. I would verify that first and check completed sales before changing the £811,200 figure.
Meanwhile, the conveyancing material can be refreshed so the property is ready to relist. When offers arrive, compare the amount with evidenced funds, finance progress and chain position, then give buyers a clear date for any missing documents. That avoids both an automatic discount and another open-ended wait.
Meanwhile, the conveyancing material can be refreshed so the property is ready to relist. When offers arrive, compare the amount with evidenced funds, finance progress and chain position, then give buyers a clear date for any missing documents. That avoids both an automatic discount and another open-ended wait.
That sequence also gives buyers a credible answer: the previous buyer’s financing failed, the inspection did not cause the withdrawal, and the property is ready to proceed again. No need to discount automatically or conceal the history—just resolve the valuation question before choosing the price.