New buyer...but now vendor pulled out!

lookstraightahead

tink_1983 said:

lookstraightahead said:

Why don't yo sell and then rent - you've will probably recoup your money as you've won't be in a chain when you come to buy again. That's what we've done. 

My partner and I discussed this. And with two young ones itll be too much stress to move twice. Especially when quoted to move is started at 900! 

Fair enough. I always found it easier and less stress as at least you are in control. Maybe stay put for a while.

tink_1983

UnderOffer said:

Oh so sorry to read this, do you think your vendors may change their mind? Maybe worth reiterating with their agent that you are still really keen and you’d be happy to reinstate offer etc., if they change their mind, the EA could pass this message on and well, you never know, come new year, new news. 

We did this morning. He went back and said we had a new buyer who didn't need to sell.
I admit I understand their position. They have a lovely home and dont need to move. The stress has been immense with covid ontop of it all :-(

Doozergirl

If you've only agreed a sale today then I think it's okay to go back to the buyer and let them know that your circs have now changed.  It's up to them whether they want to stick or increase their offer.  

Presumably there may be a small period of time, even if they say no, where you can search again and/or find another buyer.  

I feel your pain over the lack of control.  All I can say is that it will end one day.  Our debacle finally ended last week after 18 months.  If you want to move, it's the nature of the beast.  Sometimes you're lucky, sometimes it's a seemingly unending nightmare.  

There will be a better house down the line for you, though.  

tink_1983

Doozergirl said:

If you've only agreed a sale today then I think it's okay to go back to the buyer and let them know that your circs have now changed.  It's up to them whether they want to stick or increase their offer.  

Presumably there may be a small period of time, even if they say no, where you can search again and/or find another buyer.  

I feel your pain over the lack of control.  All I can say is that it will end one day.  Our debacle finally ended last week after 18 months.  If you want to move, it's the nature of the beast.  Sometimes you're lucky, sometimes it's a seemingly unending nightmare.  

There will be a better house down the line for you, though.  

Thankyou..
We have decided to look till the end of January and if we dont find something we want to pursue we will take a break.
Also talked our broker and we can look at higher priced homes than we thought!
We saw the last house and mortgaged to it.. but it turns out we can borrow nearly 50k more if we want to!. 
So allows us more flexibility which is positive.

Trying to her excited about new houses when you feel so gutted over the last is hard.
But also now know not to get too excited as it can all fall through without notice or reason! 

Carl2510

I know a lot of people give stick to new builds, overpriced etc. But I am buying one and I’ve exchanged and no worries of having to put up with people pulling out or changing there mind on the price. I sold mine to a cash buyer and that was stressful enough. 

tink_1983

Carl2510 said:

I know a lot of people give stick to new builds, overpriced etc. But I am buying one and I’ve exchanged and no worries of having to put up with people pulling out or changing there mind on the price. I sold mine to a cash buyer and that was stressful enough. 

Before now I have only ever purchased new build. But really we need more space than new builds offer, the room sizes, garden sizes and parking dont compare to older properties in this area.

gettingtheresometime

tink_1983 said:

Doozergirl said:

If you've only agreed a sale today then I think it's okay to go back to the buyer and let them know that your circs have now changed.  It's up to them whether they want to stick or increase their offer.  

Presumably there may be a small period of time, even if they say no, where you can search again and/or find another buyer.  

I feel your pain over the lack of control.  All I can say is that it will end one day.  Our debacle finally ended last week after 18 months.  If you want to move, it's the nature of the beast.  Sometimes you're lucky, sometimes it's a seemingly unending nightmare.  

There will be a better house down the line for you, though.  

Thankyou..
We have decided to look till the end of January and if we dont find something we want to pursue we will take a break.
Also talked our broker and we can look at higher priced homes than we thought!
We saw the last house and mortgaged to it.. but it turns out we can borrow nearly 50k more if we want to!. 
So allows us more flexibility which is positive.

Trying to her excited about new houses when you feel so gutted over the last is hard.
But also now know not to get too excited as it can all fall through without notice or reason! 

Could you warn your buyers that this might be the case?

It would save them spending money unnecessarily.

tink_1983

gettingtheresometime said:

tink_1983 said:

Doozergirl said:

If you've only agreed a sale today then I think it's okay to go back to the buyer and let them know that your circs have now changed.  It's up to them whether they want to stick or increase their offer.  

Presumably there may be a small period of time, even if they say no, where you can search again and/or find another buyer.  

I feel your pain over the lack of control.  All I can say is that it will end one day.  Our debacle finally ended last week after 18 months.  If you want to move, it's the nature of the beast.  Sometimes you're lucky, sometimes it's a seemingly unending nightmare.  

There will be a better house down the line for you, though.  

Thankyou..
We have decided to look till the end of January and if we dont find something we want to pursue we will take a break.
Also talked our broker and we can look at higher priced homes than we thought!
We saw the last house and mortgaged to it.. but it turns out we can borrow nearly 50k more if we want to!. 
So allows us more flexibility which is positive.

Trying to her excited about new houses when you feel so gutted over the last is hard.
But also now know not to get too excited as it can all fall through without notice or reason! 

Could you warn your buyers that this might be the case?

It would save them spending money unnecessarily.

Yes we discussed with our EA earlier this week so everyone knows where we stand

WiseOwl00

I'm sorry to hear this OP. I sympathise as we've been trying to buy a house since July 2020 and it has caused us so much stress. The vendor pulled out of our first property after 3 months (of saying he'd instructed his solicitors, when he hadn't). Then this second one has been delayed due to Covid. When stuff like this happens it really takes the joy out of it- I can't even bring myself to get excited about this one in case something bad happens again. 

Do you know why the first buyers pulled out? Also are these new ones in a chain or FTBs? Maybe give yourself a week to have a little break from it all and gather your thoughts. If these new buyers are willing to wait, I think searching until the end of January sounds reasonable. 

tink_1983

WiseOwl00 said:

I'm sorry to hear this OP. I sympathise as we've been trying to buy a house since July 2020 and it has caused us so much stress. The vendor pulled out of our first property after 3 months (of saying he'd instructed his solicitors, when he hadn't). Then this second one has been delayed due to Covid. When stuff like this happens it really takes the joy out of it- I can't even bring myself to get excited about this one in case something bad happens again. 

Do you know why the first buyers pulled out? Also are these new ones in a chain or FTBs? Maybe give yourself a week to have a little break from it all and gather your thoughts. If these new buyers are willing to wait, I think searching until the end of January sounds reasonable. 

Thankyou:-)
First buyer pulled out and gave no reason, he was an investor. 
New buyer is young man. Hes renting out his 2 bed and buying my 3 bed to live in, the EA says hes keen and willing to wait for us to find a house we want, but i find these EA tricky to read.
I must admit I'm mentally exhausted from the stress and worry of it all.