Telford homeowners reminded contracts are crucial in property sales
Across Telford, more homeowners are discovering that an agreed sale means very little until contracts are exchanged, writes James Fielding at Telford House Auctions.
An offer is accepted. Surveys are carried out. Weeks pass. Chains stretch. Mortgage valuations come in lower than expected. Then the phone call arrives. The buyer pulls out. The property goes back on the market.
National figures suggest that close to one in three agreed property sales fail to reach completion. In the current market, that statistic feels less like theory and more like reality.
For sellers, the damage goes beyond inconvenience. Probate timelines drift. Onward purchases fall apart. Landlords trying to exit face extended void periods. Families planning relocations are forced to start again.
One of the underlying issues is pricing strategy.
Many properties are launched with optimistic asking prices in the hope that the market will stretch. Early interest may follow, but survey results and lender valuations often pull figures back to earth. Renegotiation begins. Confidence weakens. Deals unravel.
In a more cautious lending environment, certainty has become more valuable than ambition.
This is why traditional property auctions are quietly regaining ground in Shropshire.
In a traditional auction, exchange happens on the day of the auction. Completion follows typically within twenty working days. There is no prolonged negotiation period and far less opportunity for a buyer to walk away after weeks of delay.
Auctions are no longer reserved for distressed or run down properties. Increasingly, they are being used by sellers who want structure and control. Executors managing probate estates. Landlords reducing portfolios. Vendors who have already experienced one failed sale and do not wish to repeat it.
Auction pricing also operates differently. A realistic guide is used to stimulate competition rather than encourage slow negotiation. When structured correctly, competitive bidding can often exceed expectations while still delivering certainty.
The key question for sellers in 2026 is not simply what price might be achievable. It is how secure that price really is.
In a market where affordability is stretched and buyer sentiment can shift quickly, the traditional model of accept and hope is being challenged.
For some properties, the open market remains appropriate. For others, particularly where timescale and security matter, auction is becoming a deliberate strategic choice rather than a last resort.
In Telford, that shift is already under way.
James can be contacted on 07476 621894 or via the Telford House Auctions website.
