Chain collapses AGAIN

PJBRFC

I would be considering re-marketing. If your buyer has had two buyers drop out maybe it's something related to their property? Survey results, service charges etc. I think I would be asking for the reasons behind the failed sales. 

trakky14

PJBRFC said:

I would be considering re-marketing. If your buyer has had two buyers drop out maybe it's something related to their property? Survey results, service charges etc. I think I would be asking for the reasons behind the failed sales. 

Absolutely, sounds like their house is the issue.

pinkshoes

RoyalDad said:

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. 

So the person buying your house had their offer accepted due to a lie?

A sale failing at exchange happens, but twice would make me suspicious that it could be a problem with their house. I think I would be remarketing the house again and looking for a new buyer, ideally someone chain free!

RoyalDad

Thanks all. Just to confirm it's not our buyers, it's the buyers buyers house at the bottom of the chain that has fallen through twice. This time it was a Chinese man buying for his daughter to attend Cambridge university. We think she didn't get accepted. Waiting to hear back from the people we are hoping to buy from in Glasgow, to see if they will wait. 

justwondering25

IMHO a lot of the current market is smoke and mirrors, too many chains, the whole thing is a house of cards. 

NameUnavailable

Scotbot said:

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.

OK but this means you can't rely on what the buyer is telling you and you can't (probably) speak to their buyers to verify the info. I'd bite the bullet and remarket, with the acknowledgment that if the current buyer comes good before another offer is accepted they can still proceed.

Sarah1Mitty2

PJBRFC said:

I would be considering re-marketing. If your buyer has had two buyers drop out maybe it's something related to their property? Survey results, service charges etc. I think I would be asking for the reasons behind the failed sales. 

A relative of mine trying to sell says that higher mortgage rates are the main reason people are giving for dropping out or disagreeing with the asking price.