why, why why???

Hi Guys,

Sorry to hear of both predicaments.

Would you be willing to pay a bit more if this is the case?

However if it's only down to money then why didn't they come forward sooner and ask you for more!

There's nowt queerer than folk!!!

I do hope it gets sorted as it's sooo stressful without all this. I know I only moved 9 weeks ago.

Hope it all works out for you.

Debs

Really sorry to hear that.

The way around it is to have a large stiff drink this evening and rearrange any important work meetings in the morning.

And then pick yourself up and start looking for somewhere better! It's horrid but I'm sure it's for a reason. There will be something else and it will be better. It would be a good idea to complete on your sale asap though - perhaps try exchanging with a delayed completion would give you some time to find somewhere or rent. Don't lose what you have though.

Did you feel you got it for a good price? £1k off what they paid five years ago sounds pretty good. I'm surprised that they think they can get more though and are prepared to risk it; there's nowt so queer as folk!

QTPie wrote: »

Oh my goodness, if that is the reason that they pulled out, they are complete idiots.... :rolleyes:

The nerve of some people is completely shocking...

Keep pushing the EA's for an answer as to why the sellers are pulling out: you deserve a very honest answer.

QT

I agree with all you say but find the forum fascinating. On one hand you hear stories like this and then on the other you hear buyers who say if they proceed and they change their minds in due course they intend to pull out.

As an agent this is bl**dy frustrating and can happen like this.

Exchange due any day, or even on the day, with completion very soon head, even in a few days, so sellers usually all packed and ready to go.

Buyers solicitor calls us to say their client is pulling out but refuses to give a reason saying they are following their cleints wishes.

We call seller (often they bust into tears even the men have been known to) and their solicitor.

We then try to contact the buyer by home landline, work landline, mobile, email and letter sent same day. No reply so we retry and leave a message along the lines of you may as well call us and chat it through or we will jst keep chasing for the next week or month or however long it takes so may as well get it over. Nearly all call but not always convinced by their pathetic attempts to justify what they have done.

Even had one last year where the sellers solicitor called me to suggest I should not keep haressing her client. I was not intimidated as I am to old and too many years under my belt so I said to her on what basis legally could she ask me to stop. Then she admitted there was no real basis.

Yes people change their minds but for goodness sake just give the agent a clue to so we can let the seller down gently.

perrinoss wrote: »

Hi all sorry I have had to rejoin as I am at work and forgot my password. I am just so ANGRY I wanted to come on here and vent it! It was looking like we were going to excange on our sale and purchase this week, we are in a small chain - FTB - Buyer - Us - Our purchase. It was all going ok - very slowly but ok. However my sol rang me an hour and a half ago to say that the people we are buying from are pulling out, she didnt know why just had got a letter from their solicitors. So I rang my EA who didn't know anything about it and he rang their EA who didn't know anything about it either!!!! These people have already bought another property and completed on it therefore no onward chain. I don't understand why the fools have pulled out now! The general feeling from the two EA's is that they think they can get more money for the property now the market is going up (hmmmmm). Bearing in mind we offered only 15 k under the asking price (and having checked the property websites only 1k less than what they paid for it 5 years ago). Gosh I am just so angry - Any advice on what we should do???????

Sarah

Pour yourself a very large drink, I did this last year when i was moving, let me tell you, I got through a fair few bottles !!!:beer:

Definitely blow off some steam tonight (if you run o go to the gym - those might be a good way of getting rid of some frustration...) and try to think with a clar head tomorrow.

To be honest, if I was you, I wouldn't dwell on the sellers changing their mind (although that would be the optimum outcome), but start planning for the "the house has fallen through, that is it, what can we do now" approach. NOT to be pesimistic, but to plan for the worst case - then if things do change again (or the better) it is only a complete bonus

Think HARD about renting - go through all of the pros and cons. We are doing that at the moment, so I may be biased. I must say that I am very keen to own again, but during the present economic climate I am trying to be very restrained (luckily their isn't much on the market at all that I like at the moment, so that is helping!). If something VERY good comes along at a resonable price, then yes I think we will go for it (although, saying that, I am guessing that everyone else would too!) - if not I refuse to "panic buy" something that I am not 100% happy with and pay over the odds (yes peak prices) for it...

I think that right now (i.e. the next couple of months) is the wrong time to buy: there is definitely a "bounce" around (although - as you point out - many think it is an pwards trend and not a bounce...). Sellers ARE going to be less willing to negotiate (and, as you have even experienced, gazump!) and I don't think it is a good time to get a good deal... I think that going into September/October/Novmber should b a LOT more buyer friendly... (of course, IF there is anything left to buy...).

That is all personal opinion - I could be VERY wrong. The market sector (large family houses) in the area (very popular tourist town in the South West) are taking the longest to adust to market conditions (both the lower and upper ends of the housing market have generally seen more adjustment here). If I am wrong, I could come unstuck.!

Another way to look at it is, IF you can complete as soon as possible and sign a six month AST, then you have six months to find and buy a property: that actually is not a HUGELY long timescale really... take a month or two to find somewhere and negotiate, two/three months to exchange (let your solicitor "take their time") and then complete maybe a couple of weeks before your AST expires - perfect! IF you can find a nice rental property for the interim. Ok you do have to move twice - quite a lot of hassle and some extra cost. Renting before you buy again might also make it asier to take on a "project" if you desire it.

OR try to stall completion as much as possible (via negotiation from your buyers), RUSH through the opurchase of another house (may or may not be possible - depemding on the vendor's situation). If you have to complete on the sale before completion on the purchase, then put everything in storage and move in with family/friends/hotel for a couple of weeks (around here we have some weekly rentals on furnished apartments - holiday/executive lets... that would be a good short term option).

Hope that helps a bit. I think that carrying on with your sale is the best idea. Hope that you find a way to resolve the other end.

Good luck
QT

perrinoss wrote: »

aaaaahhhh I am trying to give up drinking although sinking an entire bottle of wine is VERY tempting. At least I didn't try and give up smoking as well this week :rolleyes:

There is no way I am losing my buyer. My hubbie isn't keen on renting he is scared the market IS going to go up and we'd be down the creek without a paddle so to speak. Still waiting for my EA to call to find out whats gone on today. Its too much to bear. People dont realise do they we are all packed, my sons looking forward to moving and now its all down the pan. Not sure what we are going to do. Will talk to hubbie tonight and parents. Just wonder if I should play hardball and say we'll look for something else and they can stick their house where the sun doesnt shine in the hope that they will realise and come to their senses. I am a great believer in whats meant to be is meant to be but thats not comforting me at the moment!

Thanks for the advice all!

Sarah