Buyers pull out of house sale

AnotherJoe

klik wrote: »

We looked the whole time there was nothing even worth going to view

Haven't you shot yourself in the foot then with respect to saying you were badly treated because you hung on to do a favour to your vendor and they won't return the favour? . Because it turns out you had no option but to wait ?!

I don't blame you ranting as it's an annoying process but it turns out you haven't really acted like saints, just in your best interests !

davidmcn

klik wrote: »

But then what do you do if you find a buyer as I wouldn’t want to be paying rent until such a time I found a property

But you also don't want what you've just been through. You need to decide which option you dislike less, but if you're being that particular about your next purchase it seems daft to put yourself in the middle of a chain and twiddle your thumbs for months hoping it will all fall in place.

Davesnave

klik wrote: »

I wouldn’t want to be paying rent until such a time I found a property

If you are going to be picky, that might be the better plan.

It was a bad time to be selling, so we lost 3 sales in a row. When the fourth went through, we rented because there was nothing we liked. Unlike you, we viewed property throughout; lots of it.

In rented, with money at the ready, we were finally able to make a purchase that would have been impossible if we'd still been encumbered with a house.

It took 6 months to find the right thing, looking in 7 different counties. Yes, I think that's picky too!

hazyjo

Suppose it's a bit late now, but for anyone else finding this thread in a similar boat...


NEVER pack before exchanging! If you are bursting at the seams and have a tonne of stuff, or don't have long enough between exchange and completion, pay removal men to pack. Trust me, it is worth EVERY PENNY (and that's me saying that on a money saving site).


I feel your pain. Been in that boat myself a couple of times. It's soul destroying. Fingers crossed you find something better!

comeandgo

We always sell then rent till next property available. No mortgage or property insurance to pay and no hassle. Has previously worked in our favour as interest on sale money paid quite a bit of the rent but with such low interest rates probably not applicable now.

klik

Thanks hazyjo

Crashy_Time

klik wrote: »

They were well aware of the situation And had six months to pull out why wait until the last week when we are ready to exchange that’s my point of view thanks

Maybe found a cheaper house? Offer them a price drop and maybe they will come back.

Marvel1

ChrisK..... wrote: »

Whilst not commonly pursued it is simple breech of agreement by your sellers when they broke your agreement initially, and if you take them to court you would certainly win and be awarded damages. Your problem is that you would have to evidence how much this cost you, and since you still have your house its probably not that much and might not even cover the time to recover it

PS Dont be surprised if this is contested on here because it's not common knowledge and not commonly pursued but it is legally water tight

Any links to cases? Just interested, as I never thought you could.

Crashy_Time

https://uk.reuters.com/article/us-britain-boe-lending/uk-banks-expect-biggest-mortgage-lending-cutback-since-2008-bank-of-england-idUKKCN1ML0ZT


Expect more buyer pull-outs?

Davesnave

cjdavies wrote: »

Any links to cases? Just interested, as I never thought you could.

That's wicked of you, asking for evidence!