Exchanged. Wake up crying most days. Advice pls.

Miss_Ratty

Oh dear. I have been reading this thread and feel incredibly sorry that you are this position. Is it at all possible that you could rent for a time? It could be an opportunity for you to take some time out to take stock of the situation. Have you got friends or family who can support you through this difficult time? As a long time sufferer of depression I know how it can affect our ability to think straight, and I hope that you are seeking or being treated also. There could be significant penalties from pulling out, but I guess you have to balance that with whether you truly want to stay where you are. You never know, you may be able to move I with someone else or rent for a short period of time and find a lovely new home that will give you a new start and could be even better than where you are now. X

GDB2222

Miss_Ratty wrote: »

Oh dear. I have been reading this thread and feel incredibly sorry that you are this position. Is it at all possible that you could rent for a time? It could be an opportunity for you to take some time out to take stock of the situation. Have you got friends or family who can support you through this difficult time? As a long time sufferer of depression I know how it can affect our ability to think straight, and I hope that you are seeking or being treated also. There could be significant penalties from pulling out, but I guess you have to balance that with whether you truly want to stay where you are. You never know, you may be able to move I with someone else or rent for a short period of time and find a lovely new home that will give you a new start and could be even better than where you are now. X

I think it would be a mistake for SilveLady simply to sit tight on completion day and refuse to budge. Some people have done just that, but it must have been incredibly stressful. Besides that SilveLady evidently has money, so is worth suing, so very different from SarahJane's case.

The two sensible options are either to negotiate to get out of the contract, or if that is not possible to accept the hassle of renting somewhere and buying a replacement house. Viewed with a cool head, the latter course is possible - loads of people do it all the time and survive!

martinsurrey

I have only seen this situation from buyers pulling out post exchange, and in every case they have been taken to court, lost their 10% deposit, been told to pay another 10% to the seller in compensation, pay all sellers legal fees, pay all the court costs, so it ended up costing them 25% of the price of the property.

Their solicitor will either know the level of compensation to expect or will find out, it’s in his interest to go after you for as much as possible, as if it goes to court it just means more fees for him, and a better result for his client, which is what a good solicitor will do.

If I was the buyer, I would not want the money, I would want the house, the amount of frustration, work, negotiation, stress, time off work to sign documents, applications, credit report entries, planning, makes it all just too much to want to do again.

I also DONT agree that because the buyers live with their parents it makes it better, living with parents is in most cases a horrible thing, but is a necessity these days to get the deposit together. I would hate every day, (mainly due to a lack of freedom).

I’m so sorry about your situation, but complete, move out and rent.

Or offer them their deposit back, plus the same again, plus fees.

POPPYOSCAR

Eton_Rifle wrote: »

If I could; I would.
I would not be able to take something from someone in obvious distress no matter how much I wanted it if it would cost me next to nothing to give it up. It just isn't in my nature.

I would want all my costs reimbursed though and this would only apply, as in the OP's buyers' case (hopefully), if I still had somewhere to live. In a property chain with everyone committed, no, I don't think it would be reasonable to allow someone to pull out at a late stage and break the chain for everyone else.

I am the same way as you but I think we are in the minority.

If someone approached me personally and gave a rational explanation for why they had changed their mind, and I believed it to be genuine and not just to make more money, I would let it go as I would never feel comfortable living in that house.

Ronaldo_Mconaldo

If you were depressed before, you'll be very depressed when the buyers sue the life out of you. At least it'll help to teach you an important lesson.

DVardysShadow

Ronaldo_Mconaldo wrote: »

If you were depressed before, you'll be very depressed when the buyers sue the life out of you. At least it'll help to teach you an important lesson.

You are being bloody stoopid. It has been suggested that OP attempt to negotiate. And that advice still stands. you really are not bringing anything useful to this.

jbreckmckye

Talk to the buyers - who knows, they may be willing to drop this in exchange for any legal fees they've spent. I certainly wouldn't offer them 10k, though.

Of course, they might not, but I'd strongly advise getting in touch with the buyers ASAP. You do them no favours by stalling. They won't like you for it, but that's unavoidable now.

thelem

Ronaldo_Mconaldo wrote: »

If you were depressed before, you'll be very depressed when the buyers sue the life out of you. At least it'll help to teach you an important lesson.

That's really insensitive. She's clearly not in a good place emotionally, and comments like yours aren't exactly going to help her.