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  • FIRST POST
    • nadiamaj
    • By nadiamaj 6th Jan 18, 2:31 PM
    • 25Posts
    • 5Thanks
    nadiamaj
    selfish buyer pulls out
    • #1
    • 6th Jan 18, 2:31 PM
    selfish buyer pulls out 6th Jan 18 at 2:31 PM
    2 days before exchange my buyer pulls out because it was taking too long

    we offered to pay her rent....
    were breaking the chain to moving to rented property and putting our stuff into storage
    i mean seriously!!! and now shes starting the whole process again

    im furious
    3 of us in a chain and now houses all gone back on

    i need to sell mine quick as we negotiated hard and borrowed money and cant afford another house it was our perfect house
    Last edited by nadiamaj; 06-01-2018 at 2:42 PM. Reason: more info
Page 1
    • CommitedToChange
    • By CommitedToChange 6th Jan 18, 2:40 PM
    • 1,224 Posts
    • 3,857 Thanks
    CommitedToChange
    • #2
    • 6th Jan 18, 2:40 PM
    • #2
    • 6th Jan 18, 2:40 PM
    How long did it take? (No judging - I just can't be angry for you without knowing)
    Attempting to buy a house
    • G_M
    • By G_M 6th Jan 18, 2:54 PM
    • 42,823 Posts
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    G_M
    • #3
    • 6th Jan 18, 2:54 PM
    • #3
    • 6th Jan 18, 2:54 PM
    There's more to this than what's in your post.

    No buyer would pull out "2 days before Exchange" because it was taking too long and then start the process again.

    There's another reason they pulled out.
    • nadiamaj
    • By nadiamaj 6th Jan 18, 3:00 PM
    • 25 Posts
    • 5 Thanks
    nadiamaj
    • #4
    • 6th Jan 18, 3:00 PM
    • #4
    • 6th Jan 18, 3:00 PM
    could be another reason but sh didn't tell us and was the area she was looking at G_M

    12 weeks from accepting offer just pulled out before xmas yet our new house isn't complete until feb
    • G_M
    • By G_M 6th Jan 18, 3:07 PM
    • 42,823 Posts
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    G_M
    • #5
    • 6th Jan 18, 3:07 PM
    • #5
    • 6th Jan 18, 3:07 PM
    People rarely give the real reason.

    Maybe she found a nicer house. Maybe just went off yours. Maybe decided Feb was too long. Maybe getting separated suddenly. Maybe lost job or had a financial difficulty.

    You'll never know. Move on.
    • Doozergirl
    • By Doozergirl 6th Jan 18, 4:05 PM
    • 24,223 Posts
    • 67,024 Thanks
    Doozergirl
    • #6
    • 6th Jan 18, 4:05 PM
    • #6
    • 6th Jan 18, 4:05 PM
    I agree, it will be something else. Cold feet.

    Blames you, which is cruel, as you sound quite nice. It would have been something in her own head.
    Everything that is supposed to be in heaven is already here on earth.
    • TheGame21
    • By TheGame21 6th Jan 18, 4:42 PM
    • 144 Posts
    • 15 Thanks
    TheGame21
    • #7
    • 6th Jan 18, 4:42 PM
    • #7
    • 6th Jan 18, 4:42 PM
    We are close to completion however are worried about a similar thing happening to us. I think if someone pulls out at this late stage they should be liable to pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc.

    Someone has mentioned to me that this is the case in Scotland, is this true?
    • G_M
    • By G_M 6th Jan 18, 4:49 PM
    • 42,823 Posts
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    G_M
    • #8
    • 6th Jan 18, 4:49 PM
    • #8
    • 6th Jan 18, 4:49 PM
    We are close to completion however are worried about a similar thing happening to us. I think if someone pulls out at this late stage they should be liable to pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc.
    Originally posted by TheGame21
    So if at a late stage your solicitor told you there was a covenat prohibitting you from building an extension (and you'd planned to do so), or your surveyor told you the roof needed replacing, you would pull out and happily "pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc."

    ??
    • JoJo1978
    • By JoJo1978 6th Jan 18, 4:53 PM
    • 251 Posts
    • 279 Thanks
    JoJo1978
    • #9
    • 6th Jan 18, 4:53 PM
    • #9
    • 6th Jan 18, 4:53 PM
    TheGame21 if you have exchanged already and your buyer fails to complete them your solicitor can help you apply for costs from them. However, if they do complete on the specified day but so late in the day that you incur additional costs then they don't owe you anything because they are not in breach of contract. But if you haven't exchanged and the worst happens (in England) there are no grounds to reclaim any costs. I agree it sucks but I don't know if it's different in Scotland.

    Sadly our vendors never did find out honestly why their vendors withdrew on the day of exchange. Again, they gave a reason that blamed timescales but it was clearly a bigger and more personal issue. More positively they went ahead with our sale and found themselves another house to buy quickly, but they were out of pocket on survey and sols fees.
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Second career (what TBD!) 2018
    • TheGame21
    • By TheGame21 6th Jan 18, 4:54 PM
    • 144 Posts
    • 15 Thanks
    TheGame21
    So if at a late stage your solicitor told you there was a covenat prohibitting you from building an extension (and you'd planned to do so), or your surveyor told you the roof needed replacing, you would pull out and happily "pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc."

    ??
    Originally posted by G_M
    I'm talking within 5 days of exchange/completion. All the stuff you mentioned should be covered in the survey/searches well before that and obviously no one has started moving/packing at that point. I'm talking right near the completion date, why should everyone in a long chain suffer because some one pulls out because they have 'cold feet'? They should not be able to do that without consequences.
    • TheGame21
    • By TheGame21 6th Jan 18, 4:58 PM
    • 144 Posts
    • 15 Thanks
    TheGame21
    TheGame21 if you have exchanged already and your buyer fails to complete them your solicitor can help you apply for costs from them. However, if they do complete on the specified day but so late in the day that you incur additional costs then they don't owe you anything because they are not in breach of contract. But if you haven't exchanged and the worst happens (in England) there are no grounds to reclaim any costs. I agree it sucks but I don't know if it's different in Scotland.

    Sadly our vendors never did find out honestly why their vendors withdrew on the day of exchange. Again, they gave a reason that blamed timescales but it was clearly a bigger and more personal issue. More positively they went ahead with our sale and found themselves another house to buy quickly, but they were out of pocket on survey and sols fees.
    Originally posted by JoJo1978
    Thanks, our situation is that we have not been able to exchange on the date agreed by everyone because one of the Solicitors has failed to ask for the funds to be released and when they have, the bank have said it will take 5 working days. Exchange is now set for a week after the original agreed date and one person in the chain has also failed to return some paperwork.

    There are families in the chain wanting their kids to start school and also some children with specific needs who need to move. Everyone is now being held up because of someone's else's mistakes/incompetence.
    • goodwithsaving
    • By goodwithsaving 6th Jan 18, 5:00 PM
    • 762 Posts
    • 1,164 Thanks
    goodwithsaving
    I pulled out "just before exchange", and my sellers were genuinely taking too long. They kept saying exchange was imminent, and it wasn't. It had been "imminent" for 17 weeks. We were 23 weeks in. It gets to a stage where buyers feel taken for a ride and the sellers are taking the p a bit. Mine thought I'd keep hanging on and hanging on. There comes a point where I refuse to deal with people like that because I'm not a doormat.

    I wouldn't say I was selfish for pulling out. I found somewhere else nicer and the process has been a dream. I'm glad the other one took so long that I had to pull out!

    There are two sides to every story and we are only getting yours. I apologise for being blunt, but they probably had reasons.
    Every time you borrow money, you’re robbing your future self. –Nathan W. Morris
    • pinklady21
    • By pinklady21 6th Jan 18, 5:04 PM
    • 369 Posts
    • 236 Thanks
    pinklady21
    In Scotland there is no difference really.
    We call exchange of contracts: "Conclusion of Missives". Up to this point, either party may withdraw without penalty. It is apparently becoming more common for buyers to delay conclusion of missives - possibly because their house had not been sold, possibly for other reasons, as their own buyer has not concluded missives with them.

    Ask me how I know - our buyer pulled out at the eleventh hour having promised us faithfully for 4 months that they were serious buyers for our house, and "were about to conclude missives". We lost out on our "dream house" as well. Infuriating!
    O/P I feel your pain. Best of luck and I hope it all works out for you in the end.
    • ViolaLass
    • By ViolaLass 6th Jan 18, 5:22 PM
    • 5,217 Posts
    • 7,244 Thanks
    ViolaLass
    I'm talking within 5 days of exchange/completion. All the stuff you mentioned should be covered in the survey/searches well before that and obviously no one has started moving/packing at that point. I'm talking right near the completion date, why should everyone in a long chain suffer because some one pulls out because they have 'cold feet'? They should not be able to do that without consequences.
    Originally posted by TheGame21
    You seem to be mixing up completion and exchange. If they pull out between them then they will be liable for some costs.
    • theartfullodger
    • By theartfullodger 6th Jan 18, 5:36 PM
    • 9,255 Posts
    • 12,273 Thanks
    theartfullodger
    Perhaps it may be related to the title of another of OP's threads...
    soliciter fees..i dont understand terminology
    People are entitled to change their minds: If you wanted certainty you've picked the wrong legal system & country.

    I've long held the view that with property purchases, the place isn't yours until you are standing in it, keys in hand, previous owners & belongings gone, your solicitor having confirmed everything sorted: And even then it's not 100%....

    Better luck next time
    • davidmcn
    • By davidmcn 6th Jan 18, 5:40 PM
    • 6,555 Posts
    • 6,460 Thanks
    davidmcn
    Someone has mentioned to me that this is the case in Scotland, is this true?
    Originally posted by TheGame21
    No it isn't. Either you're in a contract (with penalties being applicable if you breach it), or you're not in a contract (and either side can walk away). Basically the same.

    The main difference is that in Scotland it is generally the case that you're in a contract at an earlier stage than in England, and the whole process moves along a bit faster. But certainly not always, and in recent times less so as everyone becomes risk-averse (e.g. in the old days you'd trust your bank manager to come up with the mortgage funds when required, rather than nowadays when you make your offer conditional on your mortgage offer until the paperwork has hit your solicitor's desk).
    • Aylesbury Duck
    • By Aylesbury Duck 6th Jan 18, 5:40 PM
    • 1,360 Posts
    • 1,781 Thanks
    Aylesbury Duck
    I pulled out "just before exchange", and my sellers were genuinely taking too long. They kept saying exchange was imminent, and it wasn't. It had been "imminent" for 17 weeks. We were 23 weeks in. It gets to a stage where buyers feel taken for a ride and the sellers are taking the p a bit. Mine thought I'd keep hanging on and hanging on. There comes a point where I refuse to deal with people like that because I'm not a doormat.

    I wouldn't say I was selfish for pulling out. I found somewhere else nicer and the process has been a dream. I'm glad the other one took so long that I had to pull out!

    There are two sides to every story and we are only getting yours. I apologise for being blunt, but they probably had reasons.
    Originally posted by goodwithsaving
    I’ve done something similar. After being mucked around for ages by the vendor, I set a deadline for exchange, made sure the other parties knew of the deadline, the vendors made all the right noises about meeting it then missed it, asking for one more week. I walked away and found somewhere else.
    • cjdavies
    • By cjdavies 6th Jan 18, 6:14 PM
    • 2,999 Posts
    • 3,123 Thanks
    cjdavies
    I'm talking right near the completion date, why should everyone in a long chain suffer because some one pulls out because they have 'cold feet'? They should not be able to do that without consequences.
    Originally posted by TheGame21
    Once exchanged you are committed, so backing out before completion will have consequences.
    • Margot123
    • By Margot123 6th Jan 18, 6:42 PM
    • 543 Posts
    • 554 Thanks
    Margot123
    I pulled out "just before exchange", and my sellers were genuinely taking too long. They kept saying exchange was imminent, and it wasn't. It had been "imminent" for 17 weeks. We were 23 weeks in. It gets to a stage where buyers feel taken for a ride and the sellers are taking the p a bit. Mine thought I'd keep hanging on and hanging on. There comes a point where I refuse to deal with people like that because I'm not a doormat.

    I wouldn't say I was selfish for pulling out. I found somewhere else nicer and the process has been a dream. I'm glad the other one took so long that I had to pull out!

    There are two sides to every story and we are only getting yours. I apologise for being blunt, but they probably had reasons.
    Originally posted by goodwithsaving
    I am a vendor and can say it works both ways. My buyers have been delaying for various strange reasons for almost 6 months now (they even argued over the curtains for nearly a month).

    I have signed the contract and transfer and my solicitor is now waiting for the get-go after they inspected the property today (8th time). It's an unoccupied property and they even left a window wide open!

    The point has come that I will have no choice than to wave them 'bye bye' if they come up with anything else at this stage. Some buyers just seem odd beyond comprehension.
    • goodwithsaving
    • By goodwithsaving 6th Jan 18, 7:06 PM
    • 762 Posts
    • 1,164 Thanks
    goodwithsaving
    I am a vendor and can say it works both ways. My buyers have been delaying for various strange reasons for almost 6 months now (they even argued over the curtains for nearly a month).
    Originally posted by Margot123
    Yes, I do see the other side of it, I was a vendor too. have been a few times now, I know how horrible the process is. With my latest one, I offered to break the chain and go into rented and storage because I felt bad that my buyers were having to wait and wasn't willing to risk losing my sale because of my vendors.

    What I was saying but perhaps unsuccessfully, is that exchange is something that suddenly happens. Being "close to" exchange may mean searches are due etc, well searches can throw additional things up. Being ready to exchange is different. You can't say, 'we'll exchange in 2 weeks' because you have no idea what may come up in those two weeks.

    We were only getting one side and sometimes it is as simple as, it was taking too long.
    Last edited by goodwithsaving; 06-01-2018 at 7:09 PM.
    Every time you borrow money, you’re robbing your future self. –Nathan W. Morris
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