seller has pulled out at the last minute--- our house already sold

bindiboo

picardygirl wrote: »

bindiboo, i have been in the position where our buyers pulled out on day of exchange so i know how gutting it can be ....... more so for you as you moved out (sold) your house 2 weeks prior though, really feel for you, but as others have said you are in an excellent position now to find a new property.

Can i ask why you completed on your sale 2 weeks prior to exchanging on your purchase? When we eventually moved a few years ago, half the chain wasnt ready so it had to be broken somewhere, we broke it by moving in with my parents, 2 adults 2 teenagers so i know how difficult it is, luckily my parents had plenty of room! But, we insisted we exchanged on sale and purchase at the same time, so the whole chain exchanged at the same time, but we had two completion dates 2 weeks apart ....... that was five years ago though, dont think i would do that now, as have too many stories of mortgages being pulled after exchange!

All the best and i hope you find your dream home very soon.

hi, our buyer was keen to get moved in so that his kids were settled before the start of school and with the knowledge that our seller was moving into rented accomodation we never thought we would end up in this situation.

Thankfully family are still putting up with us (2 adults and 3 kids).

We have asked the agent to contact the seller and suggest that his son could rent a property that my FIL rents out which is becoming vacate in 2 weeks. Failing that we will move there temporarily until we find an alternative house which will take a few months to sort when we do. Still I know we are now in a fab buying position but dont think I will ever do this again

mcc100

picardygirl wrote: »

Can i ask why you completed on your sale 2 weeks prior to exchanging on your purchase? When we eventually moved a few years ago, half the chain wasnt ready so it had to be broken somewhere, we broke it by moving in with my parents, 2 adults 2 teenagers so i know how difficult it is, luckily my parents had plenty of room! But, we insisted we exchanged on sale and purchase at the same time, so the whole chain exchanged at the same time, but we had two completion dates 2 weeks apart .......

My thoughts exactly ....... surely when part of a chain all exchanges should be completed at the same time ..... and this should be the responsibility of the solicitors .....

sunshinetours

mcc100 wrote: »

My thoughts exactly ....... surely when part of a chain all exchanges should be completed at the same time ..... and this should be the responsibility of the solicitors .....

Solicitors can only advise and as has been asked several times in this thread already - did the solicitor advise the dangers of exchanging at different dates? If so (as I would guess) then not sure what else can be done?

Only positive thing is OP has somewhere to stay and possibility if a family rental which would put you in a great position to find another house

bindiboo

sunshinetours wrote: »

Solicitors can only advise and as has been asked several times in this thread already - did the solicitor advise the dangers of exchanging at different dates? If so (as I would guess) then not sure what else can be done?

Only positive thing is OP has somewhere to stay and possibility if a family rental which would put you in a great position to find another house

our solicitor didnt warn us of any dangers and like I said before as our seller was moving into rental accomodation we didnt think there was a risk of a chain breaking especially within 30 mins of exchanging. Thankfully we have great family members to support us and should find out tomrw hopefully whether our seller is going to proceed giving that the flat they are going to see is a goer.

Failing that, we will move into my FIL house that he rents out as it should be vacant next week or so and then the hunt for a house begins again and my obsession with rightmove.com

sunshinetours

bindiboo wrote: »

our solicitor didnt warn us of any dangers and like I said before as our seller was moving into rental accomodation we didnt think there was a risk of a chain breaking especially within 30 mins of exchanging. Thankfully we have great family members to support us and should find out tomrw hopefully whether our seller is going to proceed giving that the flat they are going to see is a goer.

Failing that, we will move into my FIL house that he rents out as it should be vacant next week or so and then the hunt for a house begins again and my obsession with rightmove.com

If that's true then I refer you to my original post which would explain why you said your solicitor was "shocked" .

I would be asking why you weren't advised of the risks of not exchanging on sale and purchase at same time - its a key point for any solicitor to advise if they get asked by you to exhange at different times

bindiboo

just to update our situation,

4 weeks after completing on the sale of our house we had our offer accepted on a much better, bigger house and now coming to 8 weeks further down the line we complete on the sale tomrw (we exchanged 3 weeks ago).

For all those that said something better will come along, well it did and we are thankful. Our position (no chain) helped us with our offer being aceepted, mind you we did go straight in at the asking price.

So all good in the end....