In today's challenging market, houses needing work are less sought after. Zillow data shows US buyers seek discounts for refurbishment costs, while the Red Book Agency Index recorded an 11 per cent drop in UK renovation consultants in 2024/25, signaling demand for turnkey properties.
Yet sprucing up should be secondary. Paperwork pushes sales over the line. Twenty Ci reported 23.7 per cent of UK agreed sales fell through in Q1; 38% within four weeks. Connells notes nearly one in four collapses after three months, up from 18% in 2019.
Planning consents and building regulations cause most anxiety. Most homes have alterations; listed building status complicates matters. Retrospective approvals can break deals. The author urges sellers to gather all certificates, guarantees, and agreements before listing.
Early legal inspection of the property can prevent late collapses. Managing expectations with full disclosure makes the agreed price more certain and reduces nasty shocks.
Source: Financial Times Companies · Summarized by HeadlinesBriefing