2 days away from exchage

Gillibobs

reformedEffortMaker wrote: »

macaque
I realise I am playing devils advocate a little here, and before I say anything else, last year I had buyers pull out of buying my flat TWICE.
The 1st couple because they realised a week before christmas that they couldnt get a mortgage for the amount they thought (after stringing me along for 6 weeks), and the second time was because the buyers couldnt make up their minds, one made an offer without the other one knowing and then it got messy.....
I know what its like to be on the receiving end of time wasters.....however, with all the negative press about house prices....is it any wonder people are pulling out?....forget dodgy roofs etc....lets just be honest, no one wants to throw money away-right?...or pay more for a house than what its worth....i am sure people are doing what zammo has done all over the country today

As I have been trying to point out these buyers who are pulling out should sort all their worries about buying BEFORE going ahead and then pulling out. It's not like all this negative press coverage has just suddenly appeared from nowhere there is enough information to equip themselves with the facts and make up their minds about whether to buy and then if so what they believe to be an acceptable amount to pay for a place before offering. And the fact that people can offer an amount on a place without even knowing if a) they can get a mortage for the amount and b) whether they can afford the repayments, I find totally irresponsible. I think sellers have the right to be annoyed when buyers are pulling out for reasons like this.

Romani_Ite_Domum

reformedEffortMaker wrote: »

macaque
I realise I am playing devils advocate a little here, and before I say anything else, last year I had buyers pull out of buying my flat TWICE.
The 1st couple because they realised a week before christmas that they couldnt get a mortgage for the amount they thought (after stringing me along for 6 weeks), and the second time was because the buyers couldnt make up their minds, one made an offer without the other one knowing and then it got messy.....
I know what its like to be on the receiving end of time wasters.....however, with all the negative press about house prices....is it any wonder people are pulling out?....forget dodgy roofs etc....lets just be honest, no one wants to throw money away-right?...or pay more for a house than what its worth....i am sure people are doing what zammo has done all over the country today

I would agree. I have been trying to sell my house for 30 months now. During that time I have had 4 buyers pull out for no other reason than they have changed their minds. As far as my current buyer, he is starting to drag his heels and I will not be surprised if he pulls out as the market has changed since agreeing to buy.

Although I think people should honour agreements, I can understand Zammo pulling out at this stage.

reformedEffortMaker_2

Gillibobs
Up until a few months ago, the HPC website was the best place to go if you wanted to talk about house prices dropping. The fact that The Guardian, the BBC, Nationwide, Halifax, in fact the media in general is now lending validity to these theories is what has increased the worries. Yes people should make their minds up BEFORE making an offer-but that has always been a problem with the way house purchases happen in the UK
Please bare in mind that not too long ago, vendors were accepting offers, and then ditching a buyer for a higher offer with no concern for the amount that the buyer had already forked out in mortgage/solicitor fees, causing similar anguish. Now its just a simple case of the shoe being on the other foot.

macaque_2

reformedEffortMaker wrote: »

Gillibobs
Up until a few months ago, the HPC website was the best place to go if you wanted to talk about house prices dropping. The fact that The Guardian, the BBC, Nationwide, Halifax, in fact the media in general is now lending validity to these theories is what has increased the worries. Yes people should make their minds up BEFORE making an offer-but that has always been a problem with the way house purchases happen in the UK
Please bare in mind that not too long ago, vendors were accepting offers, and then ditching a buyer for a higher offer with no concern for the amount that the buyer had already forked out in mortgage/solicitor fees, causing similar anguish. Now its just a simple case of the shoe being on the other foot.

If you could demonstate to me that the vendors being hit were in fact gazumpers themselves, I would concede that a measure of biblical justice lay behind this action. If not, then I'm afraid two wrongs don't make a right.

Doozergirl

macaque wrote: »

If you could demonstate to me that the vendors being hit were in fact gazumpers themselves, I would concede that a measure of biblical justice lay behind this action. If not, then I'm afraid two wrongs don't make a right.

Evidence that even those who want and expect falling prices can still have integrity.

Not to say that those who are concerned after having been previously uneducated shouldn't pull out, but that no-one deserves to be strung along.

Romani_Ite_Domum

Doozergirl wrote: »

Evidence that even those who want and expect falling prices can still have integrity.

That's so funny.

I thought they were all doom mongers who live in squats and would sell their granny given half a chance. Who'd have known.

Gillibobs

macaque wrote: »

If you could demonstate to me that the vendors being hit were in fact gazumpers themselves, I would concede that a measure of biblical justice lay behind this action. If not, then I'm afraid two wrongs don't make a right.

Yes exactly. I have never sold a property before now, therefore have never gazumped someone, yet am paying for it (especially as some posters on here give the impression that all sellers are evil. I'm simply someone who wants to sell my flat and move to somewhere bigger) I definitely believe in treating others as you would like to be treated and that house selling/buying is much more than a business transaction with a lot of emotional involvement that doesn't happen with pure business. Personally would feel very guilty in shafting someone where it could have been avoided. I do agree though that the law is majorly to blame here and that this will carry on until something changes

JanCee

hierrodaknuckles wrote: »

If you believe in Karma, be carfeul tho, when you have bought and it then comes to the time for you to sell I hope you don't get a buyer like you

Lets hope that sometime in the future the OP gets a buyer exactly like himself.

Zammo

Gillibobs wrote: »

As I have been trying to point out these buyers who are pulling out should sort all their worries about buying BEFORE going ahead and then pulling out. It's not like all this negative press coverage has just suddenly appeared from nowhere...

As has already been pointed out, I put the initial offer in before the credit crunch began and before the run on Northern Rock. The process of buying took so long not because I was stringing the vendor along, but because there were delays in getting quotes for various things that were wrong with the property and the building society surveyor also held things up when he advised not to lend against the house.

The economic climate was reasonably benign when I started the process, but up until now there has basically been a 3 month barrage of negative press and reports suggesting prices were dropping like a stone.

Any first time buyer with an ounce of sense who was in a position where they did not have to buy would have pulled out, unless they were stupid or clinically insane.

As for those people sniping at me for gazundering the vendor, they should be seriously questioning why on earth they are posting on a website called "money saving expert".

Doozergirl

Zammo wrote: »

As for those people sniping at me for gazundering the vendor, they should be seriously questioning why on earth they are posting on a website called "money saving expert".

Oh yes, let's tell Martin to suggest gazundering and tell people how to do it in next week's Tip. :rolleyes:

There are ways to save money without turning someone's life upside down.