Bottom of chain Pulled out - When to Re-list

Skiddaw1

DairyQueen said:

Whatever happened to a moral compass? Several families' lives have been thrown into chaos by the cynical actions of one greedy, selfish person. I don't know how such people sleep at night.

OP: I feel very sorry for you and for all others in your chain. 

Here, here.

OP, I really hope things pan out. I think if I were you I'd get back on the market next week if Monday doesn't bring positive news. You have to think of yourselves too and it might just be that you'll find another buyer who is ready to go. Good luck.

Crashy_Time

Jaynorth_2 said:

Crashy_Time said:

A well priced in demand house would have other offers to fall back on though? The fact that the investor can do this and get such an emotional reaction says to me that the seller was kite flying and they know it! They just don`t like being called out it seems to me, maybe they believed all the stuff you read on the internet about the seller having "power" etc. and thought the buyer would roll over like a puppy?

I have had a look on zoopla and I think that their house is well priced but in my humble opinion the area is not very desirable in comparison with other areas nearby and that may stop them from getting another buyer quickly but the fact that it has been sold subject to contract since October means that any potential buyers will have already moved on by now to another property and this is sticking point for me.

I don't begrudge a buyer trying to negotiate as much as possible off a purchase price even after the price has been agreed but to wait until the point of exchange is absolutely wrong. Why not do it at the stage of the survey? The mere fact that the investor waited so long before pulling this stunt shows that he knows he is trying his luck rather than claiming that the house is overpriced and if it was not for the stamp duty deadline everybody would just ignore his tactics and wait patiently for the next buyer to come along.

I think that even if the SD holiday was permanent the buyers are not there in the numbers you seem to think, but surely the SD stunt just underlines how tapped out buyers really are at these price levels? Save a few thousand to go a lot more thousands into negative equity it seems like to me at the moment.

diggingdude

I will never understand how some fantastic members were given warnings and pushed away from this forum whilst Crashey gets to stay posting his nonsense. 
OP - there isn't really much you can do at this stage. Until contracts are exchanged no one is committed, just cross your fingers someone who can buy your house appears soon 

Jaynorth_2

I was about to re-list yesterday when news came through from my EA that my buyers had found a new buyer so we now have a chain again. They are FTB and are keen to beat the stamp duty deadline so they have agreed to use the same solicitors as the original buyer and also purchase the survey and local searches from the original buyer although I would be surprised if the original buyer agrees to sell them after pulling the £20K reduction or I am out stunt just before exchange but maybe I am just being pessimistic, will wait and see.