Changed mind about a sale

Beenie

We have pulled out of a house purchase. That was 20 years ago.

It wasn't pleasant at the time, but we had to be sure about the purchase. Something had cropped up in the days before exchange (an adjoining landowner had surrounded his land with razor barbed wire, so it looked like a prison camp in the field next door).

The EA acting for the vendor did his utmost to smoothe things out and really worked hard for his commission. Most of the barb was removed and we went ahead with the purchase, albeit with a 5 months delay.

We are still in this house after 20 years and very happy with the way it turned out, despite the initial awkwardness.

Mossfarr

My son and his wife pulled out of their house purchase a week before planned exchange.
The vendor was quite upset and annoyed so they called round to his house and explained the reason - my son had unexpectedly been offered his 'dream job' in Canada and they were emigrating as soon as their visa's could be arranged!
The vendor was much happier after receiving an explanation and agreed that if he were in their position he would have done the same.

I was relieved as I didn't think the house was right for them anyway.

middleclassbutpoor

We pulled out of a purchase because the purchase wasn't right.

Our conversation went along the lines of... Im really sorry to do this to <vendors name> but we are going to have to pull out of the sale. I appreciate that it won't be what <vendor name> wants to hear at this stage but we have to do the right thing for us. I appreciate you may want to understand further why we have changed our minds and very simply as much as we loved the house, we believe that it isn't the right house in hindsight.

You don't have to say any more than the above. Now clearly if there are reasons which can be given, i.e. you have found something out that you didn't know at offer, that of course may help the vendor understand.

Don't over think it, honestly within a day or two after telling them, you will be focused on the house you want and it will be a long distant memory.

ScoobyZ

We had someone pull out on exchange day. He decided that rather than put down a deposit on a house he would rent and take the kids to Florida.

We lost the house we were buying but got a better one. House prices are about 30% more now. I hope he is still renting and has some nice pictures of the rides his family went on