Top 5 tips for pulling out of a property sale/purchase.

So how do you do the unthinkable?  It’s a lot easier than you think but it’s almost always rubbish for someone involved.  So what’s the protocol for doing something that you know isn’t going to be taken very well?  Here are my top 5 tips.

  1. Be honest.  It’s really hard for the other party to move forwards without knowing the truth.  Things change.  Your honesty will help the other party move on quickly.
  2. Be direct.  Rip the plaster in one go.  Every agent has had buyers/sellers change their mind.  If you’re going direct to a seller, be even more direct.
  3. Apologise for your part in the process.  This is very easy on the back of the honesty and is realistically the only consolation one can offer.
  4. Don’t try and console the other party or attempt positive spin on their behalf.  Just makes it worse.
  5. From a communication perspective, face to face is best, phone second best, email next, then a text message and then finally, doing it through your solicitor with no explanation to anyone.  Very un-cool.

So there you have it, how to do what everyone hopes never happens to them!  Happy house hunting.