Reasons for purchase offers failing

buggy_boy

Crashy_Time wrote: »

Do you have stats back to say...2001, so we can get a clearer picture?


https://www.propertyinvestortoday.co.uk/breaking-news/2018/2/sales-still-nowhere-near-pre-crash-levels-research-finds?source=related_articles


:rotfl:

Oh dear there goes the goal posts again... Come on Crashy how much has not buying cost you?

Crashy_Time

buggy_boy wrote: »

Oh dear there goes the goal posts again... Come on Crashy how much has not buying cost you?

Post up the chart and I`ll tell you.

buggy_boy

Crashy_Time wrote: »

Post up the chart and I`ll tell you.

I didnt post the charts... So how much have you spent on rent + the amount of house prices you have missed out on in the last 10yrs...

Crashy_Time

buggy_boy wrote: »

I didnt post the charts... So how much have you spent on rent + the amount of house prices you have missed out on in the last 10yrs...

Why not...?

buggy_boy

Crashy_Time wrote: »

Why not...?

Why didnt I post the charts? because I didn't post the charts...

Why is it so hard to answer the question, when did you sell to rent thinking prices would drop? How much rent have you lost in that time frame and how much have you missed out on house prices increasing?

Is the real reason you wont answer because you know if you answered it would show you to have absolutely no credibility and nobody should listen to any of your advice?

MobileSaver

Crashy_Time wrote: »

Do you have stats back to say...2001, so we can get a clearer picture?

Is this how sad you have become that you need to go back to stats from almost 20 years ago in a desperate attempt to make a point? :rotfl:

Crashy_Time

MobileSaver wrote: »

Is this how sad you have become that you need to go back to stats from almost 20 years ago in a desperate attempt to make a point? :rotfl:

If they actually showed lower transactions you would have had them posted up weeks ago :rotfl: It is tragic that you have to be dragged screaming and kicking to admit that the property market is running on vapours :money:

cloo

Reasons I have experienced directly (as buyer and seller):
- Vendor lost job
- Buyer didn't like survey - they were FTBs and we suspect had slightly overcommitted themselves in what they could spend
- Vendor put place back on market when we lost our buyer (and would have sold it under our noses if we'd been able to keep on if they'd got a higher price, agents were still showing it despite it being under offer)

I've also heard a lot of buyers not getting their mortgage despite in principle agreement - though maybe this is just an excuse agents use to cover up buyer pulling out for some other reason!

Sometimes people just overcommit and panic, sometimes circumstances change, sometimes solicitor turns up something that makes buyer unhappy such as a restrictive covenant or short lease.

I think England does need some mechanism that prevents pulling out unless there is a change of personal circumstances on either side (job, illness, divorce, bereavment) or survey shows up something incredibly serious.

studentguy

cloo wrote: »

Reasons I have experienced directly (as buyer and seller):
I think England does need some mechanism that prevents pulling out unless there is a change of personal circumstances on either side (job, illness, divorce, bereavment) or survey shows up something incredibly serious.

That's ridiculous though, so many things could change or go wrong between making an offer and exchange. Bank may withdraw offer (in which case how could they proceed?), circumstances change etc

Slinky

cloo wrote: »

I think England does need some mechanism that prevents pulling out unless there is a change of personal circumstances on either side (job, illness, divorce, bereavment) or survey shows up something incredibly serious.

We pulled out of a purchase when we found out the vendor (who would be our new neighbour) intended to keep a piece of land (a pathway from the front drive to our back garden) and create a right of way for us to walk across the path but not store anything on it, and for him to walk up our drive to 'maintain the back of his (newly built) garden wall'. He kept this intention from us until the draft contract appeared. There wasn't a hope in hell's chance we wanted to live next door to him as he was showing signs of being a control freak. We wasted over £1K on survey and solicitors fees.

This scenario isn't covered under your proposed checklist.