When a buyer fails to complete
Your seller's options, side by side
When a sale collapses after exchange, the seller still has choices. Drag the slider to see what each option really costs — and what it leaves them with.
| If your buyer fails to complete… | Sale and purchase fall throughBuyer defaults; nothing in place | Obtain bridging finance and remarket existing homeBorrow to complete, then re-sell | Sell to an iBuyerQuick sale at a discount | ClozeSureBought on or before exchange |
|---|---|---|---|---|
| Deposit received | £50,000 | £50,000 | £50,000 | £50,000 |
| Deposit lost | £50,000 | 0 | 0 | 0 |
| Time to complete / delay on sale | n/a | Circa 6 months to sell; 10 days to arrange the loan | 10–28 days, plus potential loss of your onward purchase | 10 days3 |
| Additional purchase costs | n/a | On a 90% loan of £450,000: £4,500 arrangement fee + c. £20k interest1 | 15–20% reduction in sale price | £200 (chargeable on exchange) |
| 2nd-property SDLT surcharge | n/a | £25,000 (£500k @ 5%)2 | 0 | 0 |
| Sale price achieved | n/a | £450,000 – £500,000 | £400,000 – £425,000 | £450,000 |
| Conveyancing fees lost | £3,000 (on sale and subsequent purchase) | n/a | n/a | n/a |
| Lost removal costs / fees | Circa £1,200 | n/a | n/a | n/a |
| Agency fees | £7,5004 | n/a | n/a | n/a |
| Net cost to your client | £11,7005Lost | −£24,750 to +£25,2501, 5Uncertain | £37,5005Uncertain | £200Certain |
Scroll to compare all options →
- Assumes a 1% arrangement fee plus interest for 6 months at 9% APR.
- Selling your home later by using bridging finance incurs a 5% second-property SDLT surcharge (£25,000 on this £500,000 sale), reclaimable from HMRC once the original property is sold — so it is not counted in the net cost above (three year limit).
- As soon as ClozeSure is legally able (dependent on the cooperation of the seller’s solicitor / conveyancer).
- Estate agency fees calculated at 1.5% of the sale price (incl. VAT). The deposit forfeited by the defaulting buyer (10%) is credited to the net cost in every column.
- In principle the seller may recover these losses from the defaulting buyer, but only through protracted, uncertain legal action — often many months away and beyond the buyer’s means. Because ClozeSure completes the purchase at 90%, the seller is made whole by the buyer’s forfeited 10% deposit and the need to pursue them for further losses is removed: a materially better outcome for both sides.
Illustrative figures for comparison only. Every ClozeSure quote is personalised.
What the table shows
Why the ClozeSure column is almost empty
Every other option on this table is a way of absorbing a loss — a discounted sale, months of bridging interest, a second SDLT bill, or the abortive costs when a chain collapses. ClozeSure removes the loss rather than financing it.
If the buyer defaults after exchange, ClozeSure buys the property for 90% of its agreed sale price. Your client keeps the buyer's forfeited 10% deposit, so they still receive 100% of the price they exchanged on — and their onward purchase can go ahead. The only ClozeSure figure is the option fee: from £60, paid on completion.
Give your clients the certainty this table shows
If ClozeSure could spare your clients the costs on the left of this table, register your interest and we'll send you everything you need to raise the subject with confidence — there's no cost or obligation to you or your firm.
