Do we need to tell the EA about pulling out of purchase?

Guest101

Dan-Dan wrote: »

Leave her alone , she`s a FTB

Well she's definitely something....

eddddy

Based on the OP's previous posts, they were in a difficult purchase (unregistered property and deeds lost), and they were losing confidence in the seller's ability to get it resolved in a reasonable time scale.

TBagpuss

as others have said, it's reasonable to let the EA know and to let them know why, as they can then pass the information on to the seller.

The news will reach them via solicitos ecause your solicitor will tell the seller's solicitor, but letting them know direct avoids you or your solicitors being pestered by them chasing or querying it.

I hope your new purchase goes more smoothly!

Ithaca

At this stage you can still be informal, so a phone call to the Estate Agent is the best way to handle it. They will be used to this sort of thing, and although they might sound disappointed (it's more hassle for them) that's part of their job. You don't even need to give a reason if you don't want to, but if it's just a case that a house more suited to your needs has come up then that's not unusual or particularly unreasonable.

The reason for going via the Estate Agent rather than solicitors is mainly that you are not legally committed to anything at the moment, even though it might appear that way now that you've sent a formal offer across. It's sensible to keep all parties updated, but one of the enduring frustrations with the house-buying process in England/Wales is that right up until contracts are formally exchanged either the buyer or the seller can drop out for any reason and without giving notice or compensation, so there's (generally) no legal comeback.

And it's because there's no legal requirement that other posters have referenced "good manners", there's a lot of emotion tied up in buying and selling houses so being open and honest means everyone can avoid ill feeling and unpleasantness... I'd also suggest that if you're buying locally it's a small world and estate agents can and do chat with each other, so maintaining a good relationship with this EA even though you are pulling out is probably a sensible thing to do!

laurawilliams500

Not sure why some people feel the need to leave unnecessary comments, but yes the vendor attempted to sell the house without it being registered and without deeds. We're down £££s, have lost confidence in the house/seller and wouldn't proceed with purchasing a leasehold property with a possessory title. Hence when this freehold property came along that matched our criteria, we've taken our chances and done what we believe it best for us.

laurawilliams500

Anyway, I've now spoken to the EA. Apparently the vendor of the house we've pulled out from is lodging a formal complaint against his solicitor and the ombudsman as they're blaming the solicitors for losing the documents. So it wouldn't have been resolved for a long time. It's a shame, for both parties, but ultimately what isn't meant to be isn't meant to be!

hazyjo

These things usually work out for the best in the long run


(Sorry people were a bit narky with you, I expect it was just that they didn't know the bigger picture. To say you're buying someone's house then still keep viewing and pull out to buy another without telling them/the EA isn't really the done thing. Massive let-down for the vendors who think they have a buyer, maybe find a house themselves, think they have a complete chain. BUT... your situation was different and I can see why you've walked. PS Not speaking for anyone else, just explaining how it was first interpreted - by me too.)
Good luck!


Jx

laurawilliams500

Understood and yes I probably should have written more of a background but didn't want to write a novel!

We did actually forewarn the estate agent that we were losing confidence a few weeks ago and wouldn't hesitate to look at other properties matching our criteria (did ask for advice about this on the forum recently too!); our solicitor and broker were also aware so this by no means has just been dropped on the vendor and I'm pretty sure he would have been anticipating it! And also there was no chains at all, the property was rented out for the past few years and now empty and the vendor is already living elsewhere.

But, you'd think people would ask for the information before making assumptions!!

DaftyDuck

laurawilliams500 wrote: »

We're pulling out of a purchase (because of no fault of our own).......

Had an offer accepted on another, nicer, house .....


Everything happens for a reason I think...

So why is it no fault of your own? How will you feel when the owner of the new other "nicer house" tells you (after you've paid out for survey and legal fees) that they've decided to sell to another buyer? Only you find out some time later, because they only told their solicitor - who won't work late Friday or weekends?

I'm not actually criticising you for deciding to buy the nicer house... that's common sense, especially given what sounds like difficult circumstances..... Common decency is telling the vendor's agent at the first possible opportunity what you are doing, and why, so they can minimise the impact on their client, and start the search for a new buyer.... It's worth doing that, even if the seller has been a right pillock, as the agent will think the better of you, and that can be very useful - particularly if the seller is a pillock! I've made some very good purchases through agents who've ended up thoroughly disliking their client!

Estate agents do come in for all sorts of stick, but they are useful to both sides in speeding up the process, helping communication. Not always, of course, but worth remembering!

laurawilliams500

As I've explained I naively wasn't sure of the correct process and whether it was most appropriate for our solicitors to do this or us. I didn't know how "formal" withdrawing from a purchase needed to be, hence my question.

And we haven't pulled out just because "we've seen a nicer house"... we pulled out because of the issues with the unregistered deeds on the first property which all parties knew we were concerned about in advance and because we managed to have an offer accepted on a suitable property that coincidentally we feel is better for us (is also freehold tenure). It is unfortunate for everyone involved, but it was out of our hands. Best case scenario was us proceeding with that property and getting possessory title - we didn't want that. It isn't easy to withdraw from something when you invested your interest, time, energy and money into!


Anyway, thanks to those who have provided useful input but I'm going to refrain from replying on this thread again because some comments are just not necessary when someone comes on a forum to ask a genuine question and for help at a very stressful time! x