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Buyer pulled out...
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The same thing happened to me three weeks ago - we were 'ready to exchange' and the FTB at the bottom of the chain suddenly couldnt get a mortgage after three months. The estate agent was complicit in creating an impression of everything is OK everyone is ready to exchange. My blood pressure is still sky high.
However! I had a meeting with the other three people in our chain and we decided to give it two weeks - and we each chipped in £2k (which we all would have lost in legal/survey arrangement fees) if we'd all pulled out if the respective properties. We then offered it to the FTB property to reduce the asking proce for a quick sale. 24 hours later it worked (miracles happen) and if all goes to plan we will all exchange on Thursday. Moral of the story? Dont trust estate agents, treat everything they tell you as a lie until YOU speak to everyone and prove it, If you,re in a chain keep the communication going, and finally dont be niave - if it sounds strange its a covered up problem. I cant tell you how stressful its been - especially as I'm now working 300 miles from home....
Good luck positive actions, positive thoughts and it will come good0
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