Yes, a cash house sale can fall through, although it is less likely than a sale involving financing. While a cash sale eliminates the risk of a mortgage loan falling through, there are still potential issues that can arise during the process.
According to the Property Solvers website, the buyer may conduct an inspection and discover issues with the property that they were not aware of before, leading them to back out of the sale. Alternatively, the buyer may have difficulty obtaining proof of funds, which could delay or cancel the transaction. There may also be legal or title issues that arise which could cause the sale to fall through.
In any case, it’s important to have a thorough understanding of the contract and any contingencies that are in place to protect both parties in the event of a failed sale. If you’re involved in a cash house sale and it falls through, you may need to work with your estate agent, solicitor or mediator to resolve any disputes and determine the next steps.
Best Wishes, Susan