The Broken System of Selling Property

Selling property in today’s market is a minefield. It’s not just about finding a buyer—it’s about ensuring that buyer can actually complete the purchase, which is where the entire process becomes unpredictable and frustrating.

Chains: The Biggest Headache

One of the biggest obstacles in selling property is the dreaded chain. You might find a buyer, but if their own buyer backs out because of an issue further down the chain, your sale collapses. That means months of waiting, renegotiations, and possibly starting from scratch. Meanwhile, if your property is vacant, you’re left covering council tax, insurance, and utility bills for an indefinite period, all while the market shifts beneath your feet.

The problem is, there’s no real safety net for sellers caught in this loop. You can invest months of effort into a transaction, only for it to fall apart at the last minute—leaving you with nothing to show for it.

Should You Reduce Your Asking Price?

Many sellers feel pressured to lower their price when a buyer requests a reduction due to a long chain. But does this really make sense? The only scenarios where reducing your price is justifiable are:

1.The buyer has no chain – meaning they’re a first-time buyer or already have funds available.

2.The buyer is a cash buyer with proof of funds – eliminating the risk of a mortgage rejection.

3.The buyer has a bridging loan – allowing them to purchase without relying on their current property sale.

Outside of these scenarios, why should a seller drop their price just to accommodate a chain? If the deal falls apart, you’ll have reduced your margin for nothing. Instead, sellers should factor in a contingency plan—can you afford the ongoing costs if the sale drags on or collapses? If not, pricing the property strategically from the outset is key.

The Harsh Reality

This situation primarily affects landlords with vacant properties, those who’ve moved abroad, or anyone caught in the middle of a chain. If your buyer falls through, the property you’ve already set your heart on could be lost because the sellers won’t wait. The entire system is flawed, forcing everyone involved to gamble on an uncertain timeline.

The Smarter Approach

If you receive an offer below your asking price but the buyer is chain-free, it might make sense to accept—provided it’s still a fair deal. In a market where transactions collapse regularly, a secure sale at a slightly lower price is often better than months of uncertainty. After all, what’s the point of holding out for a higher price if you risk never completing the sale at all?

Selling property shouldn’t be this complicated, but until there’s a more efficient system in place, careful negotiation and a realistic mindset are a seller’s best tools.