Sale fell through

CRISPIANNE3

We are selling our house to someone in rented accommodation. I have said to the estate agent we are not paying anything for conveyancing until we are certain the house goes through survey ok and we are reasonably certain the buyer does not pull out. 

jonnydeppiwish!

Sorry about this but glad they pulled out now rather than waiting.
The market is changing (south east Hampshire) at the moment - lots more properties on the market compare to 2 months ago, and 2 or 3 being reduced each day.
Fingers crossed you get a new buyer soon!

TBagpuss

Sadly it is not uncommon. 
Last time I moved house, mybuyer pulled out very late on in the process (they were a FTB and apparently went on a bit of a spending spress on credit, and got thei mortgage offer withdrawn as a result.) 

My purchse also fall through - the sellers kept moving the goalposts and they eventually pulled out ,(although having read the survey I was about to pull out, as it threw up some major  problems. I rather suspect that they knew this and decided to dump me before I dumped them, as it were, but it turned out for the best in the end as  the house I eventually bought was much nice, and in a better location. 

I think the current state of the market may mean it happens a bit more as I suspect that people may be  offering first and then having second thoughts, because propreties are moving pretty fast in many areas, but on the other hand it houls mean it is relatively easy to find another buyer. If this is your first sale and your market is mostly first time buyers you may find that there is a higher risk of people pulling out as FTB may be more cautious and more likely to 'spook' over any issues, and in most cases are probably also more likely to be maxed out on their borrowing capacity so have less margin for any adjustments . 

(while it was several years ago, so a differnt market, in my case, I put the house back on the market when my buyer pulled out and gt a new offer for full asking price within 48 hours, and the second lot of buyers were far easier to deal with (not least as they used a real solicitor and not a onveyancing factory!) 

Hopefully you will have a similarly happy ending. 

lookstraightahead

CRISPIANNE3 said:

We are selling our house to someone in rented accommodation. I have said to the estate agent we are not paying anything for conveyancing until we are certain the house goes through survey ok and we are reasonably certain the buyer does not pull out. 

Is the rented bit relevant? 

strong8096

Our buyer pulled out we were exchanging next week completing beginning August , 😡

Upcycling_Queen

lookstraightahead said:

CRISPIANNE3 said:

We are selling our house to someone in rented accommodation. I have said to the estate agent we are not paying anything for conveyancing until we are certain the house goes through survey ok and we are reasonably certain the buyer does not pull out. 

Is the rented bit relevant? 

Yes, we’ve taken a short hold tenancy for 6 months and paid up front because we have a dog. Not ideal but our vendors have been fairly awful. I haven’t rented for 30 years so your comment did wind me up!

MaiTai

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