I'm thinking of backing out of my purchase. What to do?

492800

Deleted Thread

hazyjo

Are you a FTB by any chance?

What did you like about the property in the first place?

If you're sure you want to back out, and it's not just nerves kicking in, I think you should ring the EA and obviously let your solicitor know. You will obviously have to pay for any work they've done.

Maybe people here could reassure you over the survey and searches? You'll never get anything that's 'perfect' and the majority of the time, they sound far scarier than they actually are.

Jx

grimsalve

Tell your conveyancer first. Just tell the EA that the problems highlighted by the surveys are too much of a concern and you have decided to pull out. No point saying anything more.

SailorSam

A simple phone call to the EA and maybe if you want to be a bit more courteous phone the sellers as well. You don't need to explain if you don't want to. just say you've changed your mind.
If you're getting a mortgage, one of the surveyors will have come from them, i think you should phone them as well, just to say your change of plans.

poppysarah

Email works too.
But make sure your solicitor knows too.


And don't feel guilty!

slkh

Listen to your instinct, it's never far wrong! If you really have changed your mind you definetly should'nt go through with the purchase, it is probably the most expensive thing you will ever buy so you need to be 100% sure the property is the one you want and in the current climate they are in abundance! Its a buyers market and I'm sure you will find your dream property if you look hard enough. If however its just the survey which is putting you off (depending on what the problem is) discuss with a trusted, independant surveyer and see what they think but to be honest if you have such a bad feeling I would'nt continue with the sale, there are plenty of house's out there that have no problems that could be the property for you! Best of luck what ever you decide anyway.

Doozergirl

I think if this house has been 'renovated' and they are selling it as the main benefit, then you should expect it to be nigh on perfect. I think it's totally unfair for people to make money from apparently fixing houses if surveys are showing problems. They are trying to con you if something as simple and obvious as the electrics is a problem.

If you did continue, I'd expect all the problems to be rectified properly before you even exchanged contracts. Whether it's worth a face to face chat with the vendor or a full email and conversation to the EA to air your concerns to see if things can be rectified before you pull out, is up to you. But I'm inclined to agree that if this house is supposed to be perfect and isn't, then they've clearly tried to pull the wool over your eyes and don't deserve your sale.

kingstreet

You've paid for your surveys and reports and don't like the results.

Don't worry about the money you've spent. That's why you spent it, so there are no nasty shocks later!

A simple "accumulation of negative information from professionals leads me to believe this isn't the property for me" will suffice.

Onwards and upwards. Fish in the sea 'n all that...

DVardysShadow

kingstreet wrote: »

... A simple "accumulation of negative information from professionals leads me to believe this isn't the property for me" will suffice.

Crackingly good presentation of the position. Minimal is far better. Avoid listing concerns, don't get drawn on discussing them. Once you identify specific issues to the EA, these become to them surmountable obstacles and they start drawing you back in.

ruggedtoast

I just called and said I wasn't prepared to proceed with the purchase based on the information from our searches and survey, all of which our sellers knew all about before marketing.

It was a difficult call though, not least because i was gutted myself.

LandyAndy

ruggedtoast wrote: »

I just called and said I wasn't prepared to proceed with the purchase based on the information from our searches and survey, all of which our sellers knew all about before marketing.

It was a difficult call though, not least because i was gutted myself.

What was the EA's response? It's quite likely they have heard this before on this property.