Changed mind about a sale

AH1509

Last week I posted my dilemma regarding cold feet weeks before exchange. After viewing another property and paying £400 for a home buyers survey on the house I have offered I have decided not to proceed. I have not had the report back but viewing propertys today has confirmed I dont want that house as why would I still be searching.
Just to ask how many of you pulled out before exvhange, how did you tell your EA and what were their reactions and how did you know what house was ur ideal house. Is it a ‘when you know, you know’ kind of thing?

Thanks in advance.

hazyjo

Never done it as always been sure when offered.

Doesn't really matter how other EAs have reacted. Tbh I'd not really give them much thought, I'd be more concerned about the vendors were feeling.

Pointless hearing why others might have pulled out really, it's not going to help, I think you should just be honest and just say "we've been having second thoughts and don't feel it's the right house for us".

You ask why you'd still be searching. But it is VERY common for inexperienced buyers to panic and not be able to make that final push. They often need a bit of hand-holding. It could easily be cold feet.

I've always still searched. In fact, I still search even though I've been in over a year lol. I still believe we got the right house for us. Nothing is without its compromises.

lookstraightahead

I've changed my mind before, it can be done thing really simple like deciding I want to be that little bit closer to work, or feel I've offered too much, or any life circumstances. It happens both ways. Too big a commitment to worry about anyone else. Sometimes when the ball starts rolling it becomes real and you listen to your gut instinct. Don't feel bad - it happens all the time to buyers and sellers, that's why we have this process.

KiKi

I knew, when I walked into my second flat, and my current house. I knew immediately I was going to live in both of them, no question.

With the flat, I offered, but the vendor went with a cash buyer. So I carried on looking, and found another flat a few doors down which wasn't as nice, but I could certainly live in - and made an offer on it. Then the sale of the first one fell through and the EA contacted me and asked me if I was still interested. I was really torn - I felt really bad for letting the current vendor down, but I really, really wanted the first flat. I spoke to my dad as a sanity check as I felt really bad to pull out, but I knew I'd be there around 10 years, and it was the property I really wanted. It was only two weeks after offer, so not too bad, but I still hated calling the EA to apologise.

I simply said that the original flat I'd offered on was now back on the market and it was my first choice, and profusely apologised. At the end of the day, it was a commitment of nearly £200k, and in the end I was there for 8 years, so it had to be the right flat, not just the flat I ended up with because I felt bad changing my mind.

I think to change your mind randomly and not consider the vendor isn't great - but at the end of the day this is a massive purchase and you need to feel confident.

KiKi

lookstraightahead

I do it with clothes as well ��

lookstraightahead

A relative has a nervous breakdown following through on a house - she really didn't want it but thought she would upset the vendors (who were happy to leave the house late on the day and not mention various things that needed fixing). She moved again two years later.

Davesnave

About 30% of house sales fall through before exchange is reached. Many of these failed sales will be people changing their minds, perhaps through learning more about the property/area, following their gut instinct or seeing something better.

It's normal.

Few people find an 'ideal' house on a normal budget though. Compromises seem essential to achieve the most important elements people search for within their price range. Accepting those compromises is all part of gaining the confidence to stick with your choice.

macman

It's not 'your EA'. They are working for and paid by the vendor. Just contact them and say that you are withdrawing your offer, no reason is required.

Finchy2018

I just emailed them, we had sent our deposit over and signed contracts, but had not exchanged. They were annoyed but it was no big deal, that house has since gone back under offer, so it will be sold eventually to someone else.

Sanne

We pulled out around two weeks after offer, EA found out we were viewing as the second house was in a chain ready to exchange and the new vendor’s onward purchase was from that EA.
He didn’t really care as it rescued that chain which may have well collapsed otherwise and he still got his commission... was a bit awkward when he called me asking what’s going on though (we hadn’t even viewed yet).

Slinky

We had somebody pull out in the week before exchange. She visited on the Sunday to measure for carpets, told us she would be going into the solicitors with her deposit cheque (this was 15 years ago) on the Monday and we were due to exchange on Friday. We only found out on the Friday she hadn't paid her deposit and it took another week of the EA chasing to find out she'd changed her mind. Apparently phones don't work from visiting her mother in Devon. Silly cow. Anyway we sold again to somebody else for a higher price.


Stuff happens.