Chain collapses AGAIN

RoyalDad

We are now 20 weeks into our 2nd chain and have told today that its collapsed for the 2nd time. Accepted offer on our house back in March at 8k less than the best offer. We were told the couple were just about to exchange. This turned out to be a lie and we waited 11 weeks for an exchange date, to then suddenly be told that their buyers buyer had pulled out. They begged us to stick with them and we agreed, few days later were told they had a cash buyer from had offered at the bottom and all was good. We had been told due to exchange next week and then the dreaded phone call - house at bottoms buyer has pulled out. Our 'sales negotiator claims there is a new buyer and we are 'only' looking at an 8-10 week delay. We are buying in Scotland and only had an offer accepted up there as were were almost at exchange. We now need to tell the people we are buying from that its looking like mid October before we can move. So So annoyed and sick of people not being upfront. 

NameUnavailable

So this buyer has lied to you twice now?

tealady

As Judge Judy would say
"Fool me once shame on you, fool me twice shame on me"
Your buyers sound like they are taking the proverbial. I would dump them and remarketing personally.

housebuyer143

Playing devils advocate here. The system is messed up at the moment. 
I offered on a house and my buyer immediately dropped out, my seller let me get a new one and then 3 months in, he dropped out. The seller stuck with me and I got a new buyer BUT proceeded to purchase the house without selling mine. I was incredibly greatful she stuck with me.

They might not be lying to you, just had bad luck. I would at this stage though tell them if they can't proceed without the chain you are going to remarket. 

Scotbot

NameUnavailable said:

So this buyer has lied to you twice now?

No it is the buyer's buyers. The OP'S buyer isn't to know that their buyer's are lying but it affects the entire chain.

lisyloo

I would be considering breaking the chain.
is there anyway at all you could stay with family or go into rented?

You could try tell them they have to proceed or you will not keep the house off the market for them.
its unlikely they’ll have many options though.

JJR45

Possibly an issue with your buyer's house for it to fall through twice so late?
I would bin them off and re-market it.

p00hsticks

lisyloo said:

I would be considering breaking the chain.
is there anyway at all you could stay with family or go into rented?

Breaking the chain is not going to be helpful if the problem is below them and the OP needs the money from their sale to make their purchase though....

lisyloo

p00hsticks said:

lisyloo said:

I would be considering breaking the chain.
is there anyway at all you could stay with family or go into rented?

Breaking the chain is not going to be helpful if the problem is below them and the OP needs the money from their sale to make their purchase though....

Correct, but the Op may lose the house they want to buy as a result of this.
if they sell and go into rented first, then next time around then guaranteed they won’t have any problems below them. It takes that out of the equation.

obviously there are downsides and costs and it’s not possible for everyone, but it’s 100% guarantee of losing the problems below you if there is no one below you.

user1977

lisyloo said:

p00hsticks said:

lisyloo said:

I would be considering breaking the chain.
is there anyway at all you could stay with family or go into rented?

Breaking the chain is not going to be helpful if the problem is below them and the OP needs the money from their sale to make their purchase though....

Correct, but the Op may lose the house they want to buy as a result of this.
if they sell and go into rented first, then next time around then guaranteed they won’t have any problems below them. It takes that out of the equation.

obviously there are downsides and costs and it’s not possible for everyone, but it’s 100% guarantee of losing the problems below you if there is no one below you.

And may be useful for a cross-border move, given the process in Scotland is generally faster so assumes buyers can get their sale "exchanged" at an earlier stage than would normally be the case in England. Depends how tolerant their sellers are.

housebuyer143

JJR45 said:

Possibly an issue with your buyer's house for it to fall through twice so late?
I would bin them off and re-market it.

Not really. Some buyers are just terrible and people drop out for all sorts of reasons. 
I would probably at this stage look to get a chain free buyer though.