Buyers pulled out but won't say why...roof??

kissprudence

Hi everyone, today I feel like crying so be gentle with me....

House had been on the market three weeks over xmas (priced for a quick sale). House is a 1970s ex council house in Leeds. Got a CASH offer £3k below asking price so jumped at it. Buyers were a portfolio BTL couple. They provided proof of funds same day as offer was accepted but never instructed a solicitor. A survey was completed a week after the offer. They then ignored my EA's phone calls, texts and e-mails for two whole weeks and only today have said they are pulling out. They will not give a reason why and aren't interested in negotiating on the price.

My EA has got hold of the survey and said the only thing remotely of interest on it is that the roof is "poorly ventilated" and the surveyor has written that a "new roofing may be required in the near future". It doesn't say to what extent. The surveyor has also written "there may be asbestos in the roof cavity" - I presume this is to cover his own back as it has not been properly tested, by him or anyone.

My EA thinks they've been hedging their bets and have offered on several properties and unfortunately mine was the casualty. What does everyone else think? And do I need to get a roofer up there to correct the "poor ventilation"?

cooltt

OP please understand that there are a million reasons why a buyer pulls out and unless you go ask them face to face don't waste your time stressing over it.

"Roof" and "replace" are not two words any buyer wants to hear in the same sentence but like i said you'll never know. All you can do now is to explore what the survey has thrown up and establish if it's a problem or not.

Not nice to have people pulling out but house buying or selling is not for the faint heart'd

Thrugelmir

kissprudence wrote: »

My EA thinks they've been hedging their bets and have offered on several properties and unfortunately mine was the casualty.

Highly possible. I wouldn't concern yourself as to why. Move on.

Houses of a given age will have the surveyors caveat about the roof. Ours is 1930's and has a very old roof. When we moved in nearly 10 years ago we were told that the roof would require replacement. Had no problems in the interim. Finally getting round to replacing the roof this year. Purely because we want to do all the major work on the house while we are still working.

walwyn1978

I suspect your last paragraph covers itit. If they were trying to haggle about the roof they'd have come back with a lower revised offer based on the survey.

Get back on the market and don't worry.

Mickygg

Being btl I should imagine it was as simple as they found a better investment. It is annoying not knowing but forget it and get the house back on the market.
As for the roof, I'd leave it. The vents are no big thing, replacing the roof is just a sweeping statement and if these buyers were serious they would have at least have looked at the roof and looked to negotiate.

Crashy_Time

They probably twigged that the government are aiming to squeeze them for more tax and decided it wasn`t worth it, they are probably trying to offload their portfolio as we type.

ThePants999

This forum really needs an ignore facility. I'm constantly seeing posts that make me facepalm, and every single time without fail, I glance to the left and it's Crashy. Would be so nice to have the option of not seeing Crashy's posts in the first place.

Crashy_Time

ThePants999 wrote: »

This forum really needs an ignore facility. I'm constantly seeing posts that make me facepalm, and every single time without fail, I glance to the left and it's Crashy. Would be so nice to have the option of not seeing Crashy's posts in the first place.

Does reality often make you facepalm?

Gigervamp

ThePants999 wrote: »

This forum really needs an ignore facility. I'm constantly seeing posts that make me facepalm, and every single time without fail, I glance to the left and it's Crashy. Would be so nice to have the option of not seeing Crashy's posts in the first place.

There is an ignore function. Click on your User CP and one of the options is "Edit your ignore list". Click on that and add the user name of the person you want to ignore.

The only problem with it, is if somebody quotes that person, you will see their post in the quote.

Crashy_Time

Gigervamp wrote: »

There is an ignore function. Click on your User CP and one of the options is "Edit your ignore list". Click on that and add the user name of the person you want to ignore.

The only problem with it, is if somebody quotes that person, you will see their post in the quote.

And unfortunately reality is...well reality...the bubble burst folks...you need to get used to it.

moneyistooshorttomention

kissprudence wrote: »

My EA thinks they've been hedging their bets and have offered on several properties and unfortunately mine was the casualty. What does everyone else think? And do I need to get a roofer up there to correct the "poor ventilation"?

Your EA is probably right - and "It's not you (ie your house) - it's them". I had 2 investors after my last house. One offered a fixed amount and that was that when I didnt accept it (it was less than the house was worth). My EA and I had both assumed they would come back with a higher offer. They didn't. We found out, in the event, they had been doing a blitz of offering that sort of amount on that sort of house and had regarded it as "take it or leave it" (though they hadn't said that to the vendors). As far as I could make out - the only person who accepted them was a guy from a wealthy background (he'd downshifted to "our" type of house) and who might have been aware at some level he was going to die soon (though he was quite young).

The second ones who offered got into a bidding war with the would-be home-owner that came along at the same time and the would-be home-owner won.

My EA had told me from the outset not to accept a buy-to-letter if I could possibly help it. EA said that they have a rather greater tendency to try to gazunder a vendor than would-be home-owners and will try harder to get a house for less than it's worth.

Try and see the positives. If they've instantly offered only £3k less than the asking price - then chances are that your house is actually worth, say, £5k-£10k over the asking price. Well - you did say you'd priced it for a quick sale. Where they've led - then others will probably follow - and this time it will hopefully be would-be home-owners and you already have the knowledge tucked away in your brain that they should have little/if any discount on the asking price (ie because of the level you'd already been offered for it).