Sale fallen through :(

Gem261

Hi all,

Absolutely gutted to be posting that our purchase which has been going on since February fell through yesterday

I haven't been posting throughout the purchase but have been on here reading occasionally, but here's the basic overview:

We had offer expected on a flat we were in love with in feb, had mortgage accepted with nationwide and the sale was progressing pretty well and we were expecting to complete at the end of April.

On April 15th solicitor calls to say that the vendor,who had the property as a buy to let, had had major building problems with his own house and needed to move into the property for six months, if we did not agree he said he would pull out. We loved the flat that much that we agreed and also negotiated the price back down to the our first offer due to the wait.

We have now found out that what happened is the vendor's tenants offered to pay above the odds in rent to stay for the six months while the sorted their purchase.

Our mortgage offer expired during this time so we had re-submit an application.

Anyway we bad been expecting to complete in September but after several excuses from vendor and mistakes from both solicitors exchange was set for this week but yesterday I received an email from my solicitor informing the vendor had pulled out stating no reason at all, this email caused me to burst into tears infront of the very important regional director at work who I was meeting for the first time.

I know we were stupid for hanging on this long but the flat was perfect for us and as we are both still living with parents I thought it was worth it.

I don't really know why I am posting other than to vent my anger and frustrations

Back to rightmove I go !

PS: Sorry for long post

Lord_Baltimore

Most people here have a story or two about a property deal that didn't work out or a survey problem or a money issue....the whole business can be a torture. Suffice to say that the buying experience often goes awry. The good thing is there are plenty more fish in the sea and what seems like the end of the world today will be something you just shrug your shoulders about when you get a better place sorted in the near future.

If you had posted sooner, the clever people here might have smelt a rat and warned of the folly of dancing to somebody else's tune but no matter, you'll benefit from the experience.

Good luck with the new search

Gem261

Hi, thank you for your words of advice, the one thing I said to myself was I wish I'd have posted in here in April for advice but to late now !

nubbins

Hi Gem,

I know its no consolation but sometimes things happen for a reason. I know you feel raw right now but before long you will find another property and you will look back on this one and it will be a distant memory, in fact you will find the one of your dreams and pity the person that bought that one.

Hang on in there I have gone through what you have and it does get better.

Cheers

kiddakidda

There is no official figures but something like 1 in 3 or 1 in 4 house sale or purchases fall through in England. Also happened to my partner and I about 3 weeks ago with a pair of naive kids who were poorly advised by the lender / solicitor when buying our property.

It feels devastating right now but keep your chin up. We had new buyers last week so there will be light at the end of the tunnel.

rosie383

I agree with the above. A d you haven't been stupid and no one could blame you for bursting into tears.
As others have said, everything happens for a reason and an even better property will be out there for you.
At least you have a safe comfortable roof over your head while you are looking and you aren't stuck up a mountain with no food and shelter. That's what I reminded myself when our sale didn't go through.

kaya

If people viewed a house purchase as a business transaction which is what it is.......... It's not personal until you move in and business transactions do to wrong

Jagraf

nubbins wrote: »

Hi Gem,

I know its no consolation but sometimes things happen for a reason. I know you feel raw right now but before long you will find another property and you will look back on this one and it will be a distant memory, in fact you will find the one of your dreams and pity the person that bought that one.

Hang on in there I have gone through what you have and it does get better.

Cheers

This. Give it a little while ad you will be glad all that waiting around and pressure is off. You will find something equally as nice, if not better. X

enthusiasticsaver

Hi Gem


So sorry to hear that your purchase has fallen through and hope you find somewhere better soon. The trouble with btl vendors is they usually just look on house buying and selling as a business transaction without thinking of the emotional attachment most people buying a future home have to the property. I hope the vendor gets his come uppance at some point !

hoglet121

Hi there,

Sorry to hear what has happened to you, but I'm another one saying things often happen for a reason. We had a house sale fall through and I was truly gutted, I felt it was the only house I wanted to buy and nothing could compare to it in our price range.

We agreed we would cool off the search as we were feeling raw and cheated, but I sneakily went online 2 days later and found an amazing house, 20sq feet bigger, bigger garden and for $40K less. We viewed it that weekend and 7 weeks later (things move quickly in NZ) we moved in.

You really don't know what's around the corner, it will work out for you. Keep your chin up :-)