> Truth about why a house purchase has fallen through twice in 5 months? <

CharleneUK

Hi all, hubby and I saw a house we liked, in our budget and went away with our broker to secure a good mortgage deal before coming in with an offer. A day later we called them, only to be told it was now under offer. We were gutted to say the least as we did tell them we are very interested, but wanted to clarify some things with our broker first.

Anyway, we wrote them a letter, telling them if anything went wrong, and we were still looking, to contact us, as we really liked this house.

Well, less than a month later, we get an email to say it's back on the open market :eek: Thing is, I'm beginning to worry as it's the second time (According to that right move add on thingy) and we know the owners do not live in the country and want rid of it, as it's costing them money.

Apparently, the first deal fell through because the buyers couldn't raise the cash after all, but it's strange they only realised this 3 months after it was taken off the market? We're going to call them in a minute, but are they actually obligated to tell the truth (e.g the survey came back super dodgy, or some other drama) Or can they just say whatever they feel like?

I do appreciate I'm a bit paranoid, it could simply be as the agent says, who knows really?

Here's the info if anyone is nosey, like me! :rotfl:

Tue 26 Aug 2008 11:31:15 GMT

• Status changed: from 'Available' to 'Under offer'

Wed 20 Aug 2008 13:17:11 GMT

• Detailed Description changed: Place your bid on this three bedroom terraced cottage set in a no through road. The property benefits from having two reception rooms, 13'4 x 9'2 kitchen, upstairs bathroom and no onward chain. Located within 1/2 mile from Wallington high street and BR station. With an initial starting price of ?210,000 this is available for viewings until Sunday 10th 17th August with all bids to be placed by 12pm Monday 11th 18th August. For more info & to arrange a viewing call our sales team on 020 8773 4455Room DescriptionsEntrance HallLounge 12'8 x 10'9Dining Room 11'6 x 11'2Kitchen 13'4 x 9'2LandingBedroom One 13' plus wardrobe depth x 10'3Bedroom Two 11'8 x 8'3Bedroom Three 9'13 at max x 7'6BathroomRear Garden 52'4 narrowing to 38'3 x 14'6

Wed 20 Aug 2008 13:16:19 GMT

• Price changed: from 'Offers in Excess of £210,000' to '£199,950'

Tue 05 Aug 2008 21:59:26 GMT

• Agents Address found: 2 Wallington Square Wallington SM6 8RG
• Detailed Description found: Place your bid on this three bedroom terraced cottage set in a no through road. The property benefits from having two reception rooms, 13'4 x 9'2 kitchen, upstairs bathroom and no onward chain. Locate...

Tue 05 Aug 2008 20:57:00 GMT

• Agent found: Andrews Estate Agents
• Agents Location found: Wallington
• Agents Telephone found: 08452173280
• Brief Description changed: A unique opportunity to place Place your bid on this three bedroom terraced cottage set in a no through road. The property benefits from having two reception rooms, 13'4 x 9'2 kitchen, upstairs bathroom and no onward chain. Located within 1/2 mile from Wallington high street and BR station.

Tue 05 Aug 2008 08:03:36 GMT

• Brief Description changed: Place A unique opportunity to place your bid on this three bedroom terraced cottage set in a no through road. The property benefits from having two reception rooms, 13'4 x 9'2 kitchen, upstairs bathroom and no onward chain. Located within 1/2 mile from Wallington high street and BR station. [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Price changed: from 'Offers in Excess of £214,950' to 'Offers in Excess of £210,000' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

Tue 22 Jul 2008 07:26:38 GMT

• Brief Description changed: A unique opportunity to place Place your bid on this three bedroom terraced cottage set in a no through road. The property benefits from having two reception rooms, 13'4 x 9'2 kitchen, upstairs bathroom and no onward chain. Located within 1/2 mile from Wallington high street and BR station. [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

Thu 03 Jul 2008 22:52:10 GMT

• Brief Description changed: CHARMING CHARACTER COTTAGE Andrews are pleased to offer to the market A unique opportunity to place your bid on this three bedroom terraced cottage set in a no through road. The property benefits from having two separate reception rooms, 13'4 x 9'2 kitchen, upstairs bathroom and no onward chain. Located within 1/2 mile from Wallington high street and BR station. [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Price changed: from '£264,950' to 'Offers in Excess of £214,950' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Status changed: from 'Under offer' to 'Available' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

Mon 24 Mar 2008 06:17:55 BST

• Status changed: from 'Available' to 'Under offer' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

Sat 15 Mar 2008 20:14:12 BST

• Brief Description found: CHARMING CHARACTER COTTAGE Andrews are pleased to offer to the market this three bedroom terraced cottage set in a no through road. The property benefits from having two separate reception rooms, 13'4... [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Price found: £264,950 [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Status found: Available [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Subtitle found: 3 bedroom terraced [IMG]chrome://property-bee/skin/user_comment.png[/IMG]
• Title found: Mellows Road, WALLINGTON [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

ruggedtoast

It could be any one of a million reasons. Its unusual that the vendors didnt insist on an exchange date somewhat sooner, as they got dicked around for 3 months waiting for buyers who eventually just backed out anyway.

Its even possible that they exchanged and then pulled out after, losing their deposit. Who knows. If you like the house and you want it then make sure you have a full survey done and knock on some other doors in the street to check there isnt an neighbour from hell problem, and im sure youll be fine.

Looks like youre well placed to get another 10k or so off too.

GDB2222

This one?
http://www.rightmove.co.uk/viewdetails-20114075.rsp?pa_n=1&tr_t=buy&mam_disp=true

Debt_Free_Chick

Only the buyers can tell you why they backed out. We can never know whether or not they told the EA or the vendors "the whole truth". They might have said "no mortgage" as that's a plausible excuse at the moment. Who knows why they backed out

Even if you did know, I'm not sure it should have too much influence on your own decision. You have to do your own research/due diligence and make your own decision, for your own reasons. Otherwise, you'll be forever wondering whether the other buyers were right or not!

Regards

GDB2222

If so, I can see why you like it, and it's got the lowest asking price of similar properties around the area. On the other hand, it's hardly unique. I would tend to assume there is something a bit wrong with it and offer just below the £175k stamp duty threshold. I don't think the agents have a duty to disclose the findings of an adverse survey, and in any case the buyers could have pulled out for all sorts of reasons. Bit stupid of the vendors to let them have 3 months before pulling out, but maybe there weren't any other buyers around?

If you lose this one, prices are expected to come down some more anyway, so there'll be more to choose from.

You are aware of prices actually fetched in the road in the last few years? (Yours may well be in the list, anyway, so you have an idea of what the vendors can afford to accept without losing hand over fist. What you don't know is how much they spent doing it up.)

2 Mellows Road
Freehold (Terraced)
Sold for £286,000 on 30 Jun, 2008
23 Mellows Road
Freehold (Terraced)
Sold for £265,500 on 16 Apr, 2008
27 Mellows Road
Freehold (Terraced)
Sold for £271,000 on 18 Oct, 2007
10 Mellows Road
Freehold (Terraced)
Sold for £265,000 on 24 Aug, 2007
43 Mellows Road
Freehold (Terraced)
Sold for £225,000 on 24 Aug, 2007
61 Mellows Road
Freehold (Terraced)
Sold for £250,000 on 09 Aug, 2007
33 Mellows Road
Freehold (Terraced)
Sold for £267,000 on 13 Jun, 2007
6 Mellows Road
Freehold (Terraced)
Sold for £236,000 on 30 Oct, 2006
33 Mellows Road
Freehold (Terraced)
Sold for £202,000 on 27 Oct, 2006
19 Mellows Road
Freehold (Terraced)
Sold for £214,950 on 29 Sep, 2006
9 Mellows Road
Freehold (Terraced)
Sold for £232,000 on 11 Aug, 2006
61 Mellows Road
Freehold (Terraced)
Sold for £228,500 on 20 Jul, 2006
7 Mellows Road
Freehold (Terraced)
Sold for £215,000 on 09 Feb, 2006
42 Mellows Road
Freehold (Terraced)
Sold for £214,000 on 05 Jan, 2006
55 Mellows Road
Freehold (Terraced)
Sold for £213,000 on 23 Sep, 2005
3 Mellows Road
Freehold (Terraced)
Sold for £219,950 on 09 May, 2005
55 Mellows Road
Freehold (Terraced)
Sold for £203,000 on 30 Mar, 2004
12 Mellows Road
Freehold (Terraced)
Sold for £250,000 on 24 Oct, 2003
53 Mellows Road
Freehold (Terraced)
Sold for £207,500 on 09 Oct, 2003
4 Mellows Road
Freehold (Terraced)
Sold for £194,950 on 29 Aug, 2003
46 Mellows Road
Freehold (Terraced)
Sold for £193,000 on 07 Aug, 2003
58 Mellows Road
Freehold (Terraced)
Sold for £182,450 on 06 Dec, 2002
9 Mellows Road
Freehold (Terraced)
Sold for £199,950 on 08 Nov, 2002
23 Mellows Road
Freehold (Terraced)
Sold for £175,000 on 27 Sep, 2002
37 Mellows Road
Freehold (Terraced)
Sold for £182,000 on 02 Aug, 2002
2 Mellows Road
Freehold (Terraced)
Sold for £190,000 on 12 Jul, 2002
65 Mellows Road
Freehold (Semi-Detached)
Sold for £182,000 on 13 Jun, 2002
3 Mellows Road
Freehold (Terraced)
Sold for £147,000 on 01 Feb, 2002
9 Mellows Road
Freehold (Terraced)
Sold for £110,000 on 28 Jan, 2002
26 Mellows Road
Freehold (Terraced)
Sold for £155,000 on 30 Nov, 2001
42 Mellows Road
Freehold (Terraced)
Sold for £136,500 on 04 May, 2001
7 Mellows Road
Freehold (Terraced)
Sold for £135,000 on 01 Feb, 2001
4 Mellows Road
Freehold (Terraced)
Sold for £136,000 on 08 Dec, 2000
59 Mellows Road
Freehold (Terraced)
Sold for £129,500 on 10 Nov, 2000
39 Mellows Road
Freehold (Terraced)
Sold for £139,950 on 20 Apr, 2000

CharleneUK

Thanks for the replies. I know I really need to get this sorted myself, in fairness, it would just be helpful if they knew it was related to a survey finding, that's the only real thing I'm worrying about, but will have to take a chance.

GDB2222 - Yep, that's the one (didn't really wanna post the link in case I do move there, but I guess it was easy enough to find! LOL)

You're right in everything you've said, it is the cheapest in the area, and I did check on nethouseprices but it's not listed on there, but was very interesting to see the amount of movement on this road.

We were thinking of offering something around £189,650, as we didn't want to go too low, because we know it is one of the cheapest around, so will generate a lot of interest, as it did when we went to view it... Ugh. Decisions decisions. Gonna call the Agent right now.

Thanks again!

poppysarah

Have you asked the EA and vendor why sales have fallen through?

Ask the EA "Has it had a bad survey"

duchy

I nearly bought a house in that road a few years back. Andrews are a pretty reputable agent -why not just ask them outright ?

CharleneUK

Well that was a big fuss about nothing. The buyer is still the buyer, thing is, they haven't had a survey arranged and it's been 3 weeks, so the seller has put it back on the market, however if the original buyer gets the survey done, they'll be going forward UNLESS, of course, someone puts a higher offer in.

Pah!

CharleneUK

duchy wrote: »

I nearly bought a house in that road a few years back. Andrews are a pretty reputable agent -why not just ask them outright ?

What made you change your mind, if you don't mind me asking?

poppysarah

Have you visited on a Friday evening? Just a walk past? Do that and then decide about offers.