Backing out of house sale

ognum

marjrie wrote: »

I can only say sorry, I didn't mean to ask for trouble

Don't apologise, I think this has been a very interesting thread, peoples opinions differ widely but that's what makes it interesting.

It is a forum for debate and advice.

I am interested that 'money' accepts marriage as an excuse as that involves love, I would include a grandchild as that also involves love in my mind.

anselld

moneyistooshorttomention wrote: »

It is simply a total waste of time and asking for trouble to expect many people (and I include myself amongst that) to understand "emotional" reasons for anything other than Marriage. Hence the "arguing" on this thread...its down to polar opposite ways of looking at things and many of us have been stung by "emotional thinking" by other people.

I would not class becoming a grandparent for the first time, especially when it was not thought possible, as some sort of emotional whim! It is a significant change of circumstance and probably quite a "life changing" experience.

JuicyJesus

FTB129 wrote: »

''You are perfectly within your rights to pull out before exchange'' some of these posts are sooo frustrating to read for people like me who's in the middle of trying to purchase a house!

It's entirely true. If you cannot deal with the fact that, as quoted above, 29% of property deals fall through, don't buy a house.

moneyistooshorttomention

Hmmm....,:think:...but then the whole point of marriage (as I understand it) is down to "You love them, they love you" and is basically an "emotional transaction" (though...hopefully...the people concerned have sat down and thought through together whether they have the same values and aspirations).

Housebuying is purely a "logical process"...as in someone has decided they can "get a better deal" by selling their place and/or buying another place. To most of us..the reason we sell is in order to get a place that is objectively better than the one we currently have.

Very different thought processes involved I would have thought in both cases. Marriage is an emotional decision which (if you've got any sense) you sit and think through whether you are compatible. Housebuying and selling isn't in my book.

Will now have that as a thought to ponder on for the evening as to whether emotions can come into marriage decisions when there is/has been a lot of "available choice" so loads of options (ie available members of the opposite sex to choose from) on the table, but pure cold logic has to be the only factor to take into account if housebuying chances are severely restricted by lack of money on the other hand.....

...goes off head spinning to contemplate that...

But...it is the case that the vast majority of us simply cant afford (quite literally) for other parties involved in our housebuying transactions to let us down because their emotions have been allowed to come into it. I still hold to the view that emotions are virtually totally irrelevant when it comes to pure and simple financial transactions and that other people shouldn't be hurt because of some other persons emotions.

AdrianC

marjrie wrote: »

Told the agent today, what a relief

Good for you. Have you told the solicitor? He's the important one to be informing.

ognum

moneyistooshorttomention wrote: »

Hmmm....,:think:...but then the whole point of marriage (as I understand it) is down to "You love them, they love you" and is basically an "emotional transaction" (though...hopefully...the people concerned have sat down and thought through together whether they have the same values and aspirations).

Housebuying is purely a "logical process"...as in someone has decided they can "get a better deal" by selling their place and/or buying another place. To most of us..the reason we sell is in order to get a place that is objectively better than the one we currently have.

Very different thought processes involved I would have thought in both cases. Marriage is an emotional decision which (if you've got any sense) you sit and think through whether you are compatible. Housebuying and selling isn't in my book.

Will now have that as a thought to ponder on for the evening as to whether emotions can come into marriage decisions when there is/has been a lot of "available choice" so loads of options (ie available members of the opposite sex to choose from) on the table, but pure cold logic has to be the only factor to take into account if housebuying chances are severely restricted by lack of money on the other hand.....

...goes off head spinning to contemplate that...

But...it is the case that the vast majority of us simply cant afford (quite literally) for other parties involved in our housebuying transactions to let us down because their emotions have been allowed to come into it. I still hold to the view that emotions are virtually totally irrelevant when it comes to pure and simple financial transactions and that other people shouldn't be hurt because of some other persons emotions.

the problem with house buying is that too many people's emotions are involved. 'I have fallen in love ' with a house is a very common expression!

you to hold the view that emotion are irrelevant but while the law remains as it is other people do not have to hold that view and any reason or no reason is good enough!

demontfort

Splendid result, several people in the chain left thousands of pounds out of pocket as the OP has pulled out on a whim. I give up on MSE and some of the clowns that have posted on this thread. Let's just hope that I never have to do a business deal with any of you unscrupulous timewasters! :rotfl:

martan01

ognum wrote: »

the problem with house buying is that too many people's emotions are involved. 'I have fallen in love ' with a house is a very common expression!

you to hold the view that emotion are irrelevant but while the law remains as it is other people do not have to hold that view and any reason or no reason is good enough!

For me it's more the case that I have forked out over a grand for searches, valuations, fees, and the market has risen while the sellers are dithering.

If they pull out I lose the money I have put in and I will not be able to secure a similar property in the area I am buying for the same money.

So no it's not emotion, it's pragmatic and financial. The system as it is has me at the total mercy of a stranger and their whims.

Jason74

marjrie wrote: »

I really think this is a bit strong, crooked behaviour is very harsh

I agree that "crooked behaviour" is way over the top. You haven't set out to rip anybody off, and have gained nothing from this whole episode. You've simply found yourself in a situation (congrats on that by the way, miracles iike that are something to be treasured), and responded to it in the way that works best for you. To describe your behaviour as "crooked" is out of line imho.

That said, I would also disagree with those who say that you have no responsibility to the buyer of your place. In law, that is undoubtedly true, but imho there is no better example than our housebuying system to demonstrate that the law is an !!!. You chose to market the property, accept an offer, and get to this stage. You have decided (with good reason) not to go ahead at the last minute, and as a result of that, someone else has spent a lot of money through no fault of their own.

While legally you are able to walk away Scot free, I would be very much of the view that you have a moral obligation to ensure that the people who were due to buy your place are not out of pocket as a result of the experience.While your decision is an understable one, I don't see how it can be considered "fair" for you to effectively make someone else pay for that decision, regardless of what the law says. Indeed, for me, the very fact that the law says you can do this is clear evidence that it needs changing.

poet123

Life intervenes, a sale can fall through for a myriad of reasons, some of which will only be important to, or affect, those directly concerned, not the rest of those in the chain. That is life.

We lost a house 2 weeks before completion, we were gazumped, we were buying from a local Councillor and she took another £1000 from the local hospital who wanted the house for accommodation for doctors. We were devastated, but we survived, and actually the house we went on to buy was better.

OP life has intervened for you, go with it and do what you feel is right. Congratulations on your unexpected grandchild, don't let this tarnish your enjoyment of it. Ignore the naysayers if push came to shove and something that mattered to them came up, and it was a choice between that and going ahead knowing it was not right, you can bet your bottom dollar they would do the same as you.