Having second thoughts pre-exchange - WWYD

Redwino222

LAD917 said:

ele_91 said:

The vendor is a divorcing couple. 

This adds complication and is another factor in favour of pulling out -- as quickly and respectfully as you can, as others have said.

I walked away from a "dream flat" being sold by a divorcing couple. The vendors were not on the same page about anything, and the vibe I got was that the party living in the flat was looking for any reason to delay or torpedo the sale. There were warning signs during negotiations - couple communicating only via their respective solicitors; responses taking a very long time; negotiations seemingly not in good faith, e.g., one party counter-offering above the ask price on a property that had been on the market for months.  Technically, they never accepted my offer because they came back several days after I gave them an "exploding offer" deadline following weeks of negotiations.  By the time they came back to accept, I said thanks but no thanks - not interested at any price.

Hopefully your vendors' divorce is not as acrimonious, but if it's already a shaky situation, this is likely to make it even shakier.

That’s bonker advice.  Who would base a decision based on one persons experience of one couple.

a huge proportion of houses are on the market because of relationship breakdown,

this person want to walk away because they want another house.  Inventing reasons that Put He blame on the vendors is disingenuous.

own your decision, be honest about your reasons.  Don’t make up silly excuses.

LAD917

I've bought from divorcing couples (and gotten great deals!), where both parties were eager to get out as quickly as possible. The OP, however, has said the vendors in this instance have been "slow," "flaky," and providing "mixed information."  Combine that with the information that they're divorcing, and it doesn't sound like a good situation to me.  Or at least not one I would rely upon.  The OP went to look at another property because they're having doubts about their vendors. To the OP, I'd say trust your instincts.  If you think something is off, it probably is.  If you like the new house better and think you have a better path to completion, go for it.

ele_91

Sorry it’s the new vendor that’s the divorcing couple. We thought this might make things easier as they have a clear reason to sell. Current vendors have said they would be perfectly happy to stay where they live now.

lookstraightahead

There are also lots of divorcing couples eager to sell. Don't be put off by sweeping general assumptions. Look at each set of circumstances instead. 

GDB2222

ele_91 said:

Sorry it’s the new vendor that’s the divorcing couple. We thought this might make things easier as they have a clear reason to sell. Current vendors have said they would be perfectly happy to stay where they live now.

Let me put it this way. I know a solicitor who has given up divorce work, and only does criminal work. “You know where you are with criminals,” he says.

moneysavinghero

GDB2222 said:

ele_91 said:

Sorry it’s the new vendor that’s the divorcing couple. We thought this might make things easier as they have a clear reason to sell. Current vendors have said they would be perfectly happy to stay where they live now.

Let me put it this way. I know a solicitor who has given up divorce work, and only does criminal work. “You know where you are with criminals,” he says.

And more importantly with criminals and you do a bad job you know where they are too.

Redwino222

Martial status is irrelevant, as illustrated by this thread. It’s not the original vendors who are divorcing.

take a quick decision And be honest about it.  You are messing people around, so be sensitive about it.

fishfingerbutties

Having been on the other side as the seller and buyers pulling out months down the line, I of course was pretty peed off. But I also understand it's a business transaction, and people change their minds all the time for various reasons.

I also in your position wouldn't hesitate to pull out. But do it sooner rather than later. They aren't your friends, they'll probably be peed off like I was, but that isn't your problem - you have to do what is right for you.