Around 30% of properties that are “sold subject to contract” will fall through and end up back on the market again (which is why agents value buyers who don’t mess them around so highly). Sales that have fallen through are brilliant opportunities, because by that point the vendor is emotionally invested in moving (and has maybe even committed to another purchase), and will be far more open to a low offer than they would have been a couple of months previously. So if you’ve viewed a property and been outbid (or enquired about a property that was already under offer by the time you called),
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