Bad luck or common theme...

Morata_

Since November, we have achieved 4 accepted offers on our house, all falling through, often the chain falling apart within a couple of weeks, one going 11, and then falling through.


I am considering taking my property off, ive lost confidence (and money!) and just wondered if I have been unlucky or is this what people are seeing happen more, offers being made and then falling though?


Needs to be more to protect people, maybe a fee on offer, say £500 given to vendor is buyer changes mind?


Desperately gutted, with a family with 3 children, its been heart-breaking.


Thanks for reading.

hazyjo

Why have they fallen through? Someone pulling out elsewhere up the chain, or usually pulling out of yours? Why hasn't everyone waited for another link instead of all giving up? Is there something wrong with your house that they've all spotted or been wary of? Have they had low valuations?


Yes, you have been unlucky. I believe it's still 1 in 3 chains that collapse - but they're often held back together when a new link joins the chain.


I don't agree about a fee. There are countless reasons why a sale/purchase might fall through and I don't see why it shouldn't be someone's right to change their mind up until exchange.


Good luck!

Morata_

Buyers, buyer twice pulling out.


First sale, buyer changed mind within 7 days.


We have sold our quickly eachtime within a few weeks, for 98% of asking everytime. I have lost faith. We are not "desperate" but with 3 kids, would like more space etc.


I get your point about, but believe its too easy to offer with little intentions.

hazyjo

Morata_ wrote: »

I get your point about, but believe its too easy to offer with little intentions.

Some sellers keep it on the market until someone shows commitment, like spending hundreds on searches or getting the survey arranged.


I've had chains collapse and (twice) it's taken around a year to actually complete from start to finish. I feel your pain and have been messed around lots myself, but I think it's just part and parcel of moving. For every one I've lost, I've always looked back and thought there was a reason. Mainly things have worked out for the best.

LandyAndy

Morata_ wrote: »

Buyers, buyer twice pulling out.


First sale, buyer changed mind within 7 days.


We have sold our quickly eachtime within a few weeks, for 98% of asking everytime. I have lost faith. We are not "desperate" but with 3 kids, would like more space etc.


I get your point about, but believe its too easy to offer with little intentions.

Why did the other three pull out? Did they give reasons? Had any of them had surveys?


You can't take a buyer too seriously until they've committed at least some money (survey fee) to the process.

davidmcn

Morata_ wrote: »

Needs to be more to protect people, maybe a fee on offer, say £500 given to vendor is buyer changes mind?

But you'd need to negotiate some sort of pre-contract contract to define what counts as justifiable or non-justifiable "changing mind".

PokerPlayer111

hazyjo wrote: »

Some sellers keep it on the market until someone shows commitment, like spending hundreds on searches or getting the survey arranged.

Yeah thats why when you put in a offer as a buyer you should state the property has to be taken off the market if offer accepted.

StumpyPumpy

Personally, I'd be speaking with my Estate Agent to find out why so many people are making offers and then pulling out. When we last sold our EA was very proactive in making sure the people offering were in a position to follow through and were really committed to the process. All offers came through to us but he would make a little aside about whether he thought it was a "good" offer.

The problem is that there are some people who will offer almost on a whim and then withdraw weeks or even just days later. There are even people that post on fora like these proudly declaring that they have made simultaneous offers hoping to play one buyer against another or have made offers without even viewing the property then withdraw because of something that would have been obvious if they'd actually spent more than 30 seconds considering the property.

Unfortunately, there is not much that you can do. Some people have no consideration for anyone else and do not appreciate, or care about, the problems and expense they cause others when they act in this way. You could ask the EA to confirm that buyers are in a position to proceed before you will consider an offer and also ask them to continue marketing your property until you are satisfied that they are serious. But even then, chains will break down. It is a pain, but hopefully the next offer will be the last you need. Good luck.

SP

enjoyyourshoes

Why not ask for an upfront none refundable deposit ?

davidmcn

enjoyyourshoes wrote: »

Why not ask for an upfront none refundable deposit ?

Because no sensible buyer would agree to that?

Marvel1

enjoyyourshoes wrote: »

Why not ask for an upfront none refundable deposit ?

I'm sure there are plenty of more to look at without asking for this.


Also what are the conditions?