Buyer just pulled out... fuming!!!!!

Lc23

My buyer just pulled out!!! Absolutley fuming!!! Due to exchange on Monday! And she decided to pull out today!!!!

I know she is totally within her right but I just need to vent!!!

Our house (a newbuild) is all ready for us to move in to.

I'm so upset.

Guest101

did she say why?

xylophone

https://forums.moneysavingexpert.com/discussion/comment/73027866#Comment_73027866

Our house has been sold to a lady who owns 3 other properties already and will not be moving in to this one.

post 4

I'd be nervous of an investor that immediately offers full asking price.

did she say why?

"I'm afraid the price is too high but I could offer......."??

Cynical old me......

Lc23

No reason given 😔

Lc23

Yes someone said that they would be wary!! Lesson learned...

Do you think we could go back and bring the price down?

hazyjo

Gutting when that happens. Hope you find another buyer soon and don't lose the house. Any chance of the developer buying yours?

D00gie72

Totally feel for you. We had a buyer pull out on the day of exchange a couple of years ago. They had tried to "guzunder" us and we'd turned them down. In hindsight we should of taken their lower offer - however galling that would of been as by pulling out they cost us much more (and also our vendors too) than the reduction in offer would have done. Unfortunately at that late stage they've kind of got you over a barrel.

comeandgo

She sounded like a business, so I expect that is what she is hopeing will happen, she put offer in early, stopped any chance of other offers, and she can now offer a lot lower as you have no other offers to go to.

cloo

I suppose, for what it's worth, if you have a newbuild they might at least be more likely to be able to hold on for you finding another buyer than if it were a property in a chain? Really sorry it happened to you - never had anyone pull out really last minute, but it does make you want to scream when it happens.

eddddy

Sadly, this sounds a bit like an investor that I have crossed paths with.

She seems to make offers, get them accepted and then withdraw on a whim few weeks later.

FWIW, my assessment of why she does it is...

• She enjoys the buzz and attention she gets from EAs as a potential cash buyer. And the even greater attention she gets from the EA when she makes an offer.

• Plus I suspect she gets some level of sadistic enjoyment from withdrawing the offer, and seeing the pain it causes the seller.

I think people like that are in a small minority, but maybe it's good to maintain some level of wariness, just in case.

fiisch

New builds are even more likely to give you the boot as Developers have very strict timelines. We lost a new build in exactly the same circumstances, and it was galling at the time.


However, in the long run it did work out for the best. Good luck finding a buyer. If the worst does happen and the house you're intending to move to gets resold, if you kick up enough stink you can get all deposits/money paid towards fixtures and fittings refunded.