gazumped. truely dont know what to do now

jamminjamaica

pawpurrs wrote:

Its the nightmare we all dread, sympathies JJ.
If you still want/need to move then, start looking for something (preferably no chain) so that you can continue with your buyer, although your house may sell quickly there is no guarantee, you may have been luckey first time around, matching the right person can take a week, or can take years (obviously some houses are more readily saleable.)
But have a thought for your buyer also, as she may well wait, I know she says she wont but that might be because she is fed up at the moment, and although not your fault if you do pull out then she will feel the same way as you do now.
You never know you may find a better house.
Chin up chook!

i know, the last thing i want to do is mess our buyer about. my husband has made it clear to me that if we dont move on friday then thats it. I know from several sources that our buyer will not hang about. she told our solicitor and our estate agent that if she wasnt in by the 27th then she was going elsewhere.

i feel so sick. i know our house will sell as they are sought after little properties. in the last 3 weeks 4 have gone up for sale and sold almost immediately.

hex2

Firstly full of sympathy, what an awful situtaion to be in.

Have you thought about looking for a short term rental - eg holiday cottages, after half term week they struggle to fill them and you might be able to get a reduced rate for a six week rental whilst you fins somewhere with no chain?

Is your buyer in rented or selling hers? If someone keeps her informed at least then she might be able to hang on for a week or two. We all threaten to pull out but faced with a genuine crises like this then I would be flexible if I could as long as someone was telling me honestly what was happening.

You must be so stressed and fed up. I hope you find a solution that is acceptable to you.

freebo_2

So surely your options are:

1) Sell on Friday and go into rented until you find something.

--or--

2) Tell your buyer you're very sorry but you been let down by your vendor and would they like to wait or do they want to pull out.

To be honest in a rising market 2) seems the only option, if you go rented you could loose significant money by having to pay more for your next house. If your current buyer decides to pull the plug from what you've said you could achive a higher price for your next buyer.

HTH,

jamminjamaica

well we are not going to let this get us down.

out plan of action is to keep looking for somewhere else. if buyer want to hold on great. if not the house goes back on the market. we had gone sale agreed on our house straight after getting out asking price. because the house we were buying were putting us under pressure to complete.

renting is not a option. i guess we will have to just hold on.

thanks to everyone for their kind words and comments.

Dead_Eye_Jones

our house buying process sucks, unlucky, it happens

jamminjamaica

will i still be liable for solicitor costs?

pawpurrs

unfortunately yes unless you went with a no sale no fee sol, and even then you normally have to pay some costs.

jamminjamaica

sounds like i am stuffed. the property buying and selling process needs to be reformed. it is far too easy for people to pull out at the last minute. there should be new legislation

cuffie

I agree. Shatters too many dreams and like pouring money down a huge black hole. I hope things get better soon. I'm sure you'll look back on this one day it all be a distant memory (albeit not a great one). We're waiting for the go-ahead to sign contracts. Have had a lot of heartache in the middle and just hoping and praying once we've signed we will actually exchange without any problems....somehow, the way things have been going, I'm not sure that will be the case!! Good luck JJ...it will come good in the end. x

freebo_2

jamminjamaica wrote:

sounds like i am stuffed. the property buying and selling process needs to be reformed. it is far too easy for people to pull out at the last minute. there should be new legislation

Definately agree with you, our chain lost a buyer on exchange day about 6 months ago nad we stood to loose about £2,000. Thankfully our buyer found a new buyer quickly and we all moved 2 months ago (got married in the meantime too :eek: ). Hope it works out for you.