gazumped. truely dont know what to do now

leftieM

Total nightmare. I just wanted to offer my sympathies. It's a risk we all take when buying a house. It's a lot of money to lose when it doesn't work out.
I think you should stay put if there are no other properties that you have a chance of getting in the short term. The money you lose in fees could be peanuts compared with the loss in equity if you sell and rent now. Prices are still shooting up here - I'm sure Derry is the same. It will be very sad for your buyer but you could stand to lose thousands if you sell with nowhere to go.
As for the vendors who pulled out - it can't be a happy home if they had split up and are now back together. Imagine the emotional turmoil they must be going through. I'm sure it wasn't their intention to mess you around.
All the best. You'll find somewhere more wonderful. It's bad fend shui to move into a house where the couple had split up so maybe they did you a favour!

izoomzoom

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

Oh, poor you, and I agree there should be new legislation, eventhough we pulled out of buying our first place within days of exchanging. In hindsight, the house just wasn't right for us at the time.

jamminjamaica

i just hope there is a house out there that ticks all the boxes for us. the one we lost was close to our perfect house. i guess it is not the end of the world but it is so disheartening to have to go back to square 1 and a long 3 months set back.

Morty_007

I really feel for you. The house buying process really sucks. My DH and I (FTBuyers) lost around £1500 on a property because we had the survey done and then the couple decided to split up and not sell (!!) the house. :mad: I was certifiable for about a week. :mad: Estate agent asked my DH not to let me out alone in case something happened to the vendor while I was out.

As it turned out we ended up buying a cheaper house in a better location with better parking and a better garden which hasn't mortgaged us up to our eyeballs.

Still could have done with that £1500 now though. It's beyond me how the system is allowed to remain so dodgy.

jamminjamaica

Morty_007 wrote:

I really feel for you. The house buying process really sucks. My DH and I (FTBuyers) lost around £1500 on a property because we had the survey done and then the couple decided to split up and not sell (!!) the house. :mad: I was certifiable for about a week. :mad: Estate agent asked my DH not to let me out alone in case something happened to the vendor while I was out.

As it turned out we ended up buying a cheaper house in a better location with better parking and a better garden which hasn't mortgaged us up to our eyeballs.

Still could have done with that £1500 now though. It's beyond me how the system is allowed to remain so dodgy.

just rang solicitor and informed that i will be charged for the aborted purchase and first sale of our property. we also loose our £350 valuation fee.

Mark_petty

so sorry to hear the bad news

Surely by exchanging contracts though they aren't suppose to pull out? if anyone does then surely they are liable for charges?

Did your solicitor mention this?

jamminjamaica

Mark_petty wrote:

so sorry to hear the bad news

Surely by exchanging contracts though they aren't suppose to pull out? if anyone does then surely they are liable for charges?

Did your solicitor mention this?

no she didnt and i asked her. she said that i had signed the contract and sent it back to the sellers solicitor for acceptance of the contract. not sure if they had signed the contract yet.

anyway my house is back on the market today and we are officially house hunting again.

pawpurrs

They hadnt exchanged, just signed.
Good luck with the next sale and house hunt.