Purchase fallen through

lacuna1

Put our flat up for sale at the start of July and were thrilled when we were under offer after only 3 days (must be a record) So then it was a case of finding a place we liked for the right price which after a couple of weeks we did, so all good.

Over the last month we have been getting frustrated by our buyers asking silly questions holding up the whole process. Anyway it finally looked like contracts were going to be exchanged on Friday but on Thursday we were told the seller had decided to pull out due to the fact she has had a fall and been advised not to move at the moment, but had known this for at least a couple of weeks but decided to wait till the last minute to tell anyone.

So we have had to rush around looking at new places in case our buyer pulls out due to what looks like a lengthly delay but we can see nothing suitable.
We are now getting worried about the costs we may have to pay out, utter nightmare and i feel like crying

TheSpaniard

We had something similar happen to us, prepare yourself now for everyone to say that 'everything happens for a reason' - will drive you nuts!!

We ploughed on anyway, proceeded with sale, moved iut and shelled out for sstorage to put us in a better position....and we dd finally find another place that dare i say it ticks all our boxes!!

kiddakidda

The reasons are always some form of pointless BS.

No one ever gives the real reason. They are scared of commitment, fell out of love with the place etc. I can give people credit for those reasons.

It's happened to me recently with a very young couple of FTB. Didn't fully understand why one couldn't pay the deposit while the other was on the sole mortgage.

3 months of our lives and around £1000 I'll never get back.

Chin up, we have new potential buyers again but we are cautious.

lacuna1

No wonder people say moving home is one of the most stressful things you can do.
I think the solicitors charges will be around £1000 for the sale and £2000 for the purchase, makes me feel sick just thinking about it. One option is to move into a rented place until something turns up but with house prices still rising and rent being high in the area we might be even worse off that way. I don't think i can win either way

hcb42

unless you are buying a small mansion, those solicitor costs seem excessive

TBagpuss

Sorry to hear that. I've had a similar experience, and it is awful.
I hope you are able to find a new buyer. AS you were able to sell so quickly the first time, there is a good chance you'll find a new buyer quickly, too.

enthusiasticsaver

How infuriating!! Whichever way you look at it you will be out of pocket so I suppose it depends on whether you want to go back to scratch, try to find a new house hope your buyer is patient or move into rented accommodation. Depends on how much is around in your price bracket. You could argue that the buyer wasting time on pointless queries could partly be the cause of all this as otherwise you might have been able to exchange before the seller had their fall, if that is really true of course. Good luck with whichever way you decide to go.

bexs2247

Our purchase fell through 3 weeks ago today and we were so close to moving too, I have a buyer for my (shared ownership) house, who has been waiting since May!! I am very scared of losing my buyer!

We have viewed 8 houses in 3 weeks, only one we liked but that was over priced and over our budget (we looked at it as it has been on the market 3 months and we thought there might be a deal to be done). Offered on it but they rejected our offer - even though apparently we are the only proper interest they have had in the place!

We don't know what to do for the best - keep looking but the market has slowed right down, pull out of our sale completely and wait until the Spring again or sell anyway and go into rented (a bit difficult as it seems very expensive and we have a dog so harder to find somewhere), or carry on looking and hope our buyer will wait it out!

Very stressful and upsetting. I can fully sympathise!

nickyg2000

Was in the same situation. two purchase fell through seller wouldn't wait for us to purchase our 3rd house. Asked us to go into rented. We didnt want to risk it with prices rising and high rental with long tie in's. Sold it again in 3 days took 8 weeks first time round.

Now just wait for the buyer to change their mind so stressful