House sale fallen through and half way through buying

Muscle750

Early Sunday morning thought offer to rent the one you want until yours sells however I imagine the they need the sale to buy another longest chain we were in was 10 and in the end I had to pay the owners of our present house to get out

RoxieW

Tancred wrote: »

Surely you can sue the person concerned if you exchanged contracts, can you not? If you haven't then you are in a tight spot.

My advice is that you should never make any offers on another house until contracts are exchanged. You've gone too far, too quickly.

If everyone in the chain did that the process would take an absolute age!

MaxTheCat

RoxieW wrote: »

If everyone in the chain did that the process would take an absolute age!

My new plan is to sell to rent I'm not worried about getting another sale more about avoiding a chain. Actually the most annoying thing about the whole experience is the time wasted. I'm not bothered about the financial costs as a couple of thousand is trivial given the total costs involved. I'm not even bothered about loosing the house I was after because frankly it isn't a palace and there will be others. It's the waste of time that's annoying.

ixalon

Hi all,

Thanks for the advice. We asked around friends and family to see if they could cover the gap until this house is sold, but unfortunately we came up about 10K short. Close!

Thankfully we've not exchanged on the new house yet, as our buyer had not exchanged (we should have seen the warning signs, despite our solicitor telling us that everything seemed on track!), so as I said, it could have been worse

Our house is now back on the market and I've contacted the vendor's estate agent to tell him the bad news. I've also mentioned the 10K shortfall just in case the vendor is desperate to sell and can lower price.

Yep, the waste of time is very annoying - I commute Scotland to London every week and was so happy when I thought it was nearing an end. This has thrown a royal spanner in the works!

ixalon

Muscle750 wrote: »

Early Sunday morning thought offer to rent the one you want until yours sells however I imagine the they need the sale to buy another longest chain we were in was 10 and in the end I had to pay the owners of our present house to get out

Thanks! Muscle, interesting idea. The property is currently let to tenants, so this may be an option. I've asked their estate agents if they may be willing to do this.