Depressed our chain broke and now house not selling

amihaan

Hi all. I really hope to receive a response because I need to know if there is hope. 

We had our house on the market last year. It sold fairly quickly. We found a house and was all good to go even with a completion date , but then our buyers buyer chain fell. Then they found a new buyer. Again all seemed well but they found an issue with the roof so they pulled out. Them buyers said they will get their roof repaired. They didn’t. Another buyer came and put an offer in but after finding out about the roof pulled out. Now this brings us to almost a year. Them buyers now fix the roof. An investor finally came and said he will buy it at a reduced price. All the chain including us reduced our price but unfortunately the house we wanted had an offer from someone else and they accepted it. We lost the house we wanted and had no where to go. 

Our buyer said they will break chain,  but the same day called to say they have put an offer in on another house! They didn’t even give us a chance to look for another house. 

I’m so angry. Why didn’t that buyer just get the roof repaired when they said they would. Knowing how hard and long it’s been and the roof finally repaired why did who we are buying off not give us a chance because it’s not our fault (although I do understand they didn’t trust the chain below but im just angry). Why did our buyer not give us a chance to find somewhere because it was their buyer that was messing around. Everyone got a buyer and seller but us. 

So here we are now over a year later back to square one our house back on the market. Had viewings and it’s not selling. I have two young  kids and the  is small. All I do is clean or cry! The viewings are stressful. I always make sure I’m out. The feedback we get it lovely house small bedrooms. I can’t make the bedrooms bigger never mind how much I clean. We are living minimal with a lot in storage so it’s not cluttered.

We have reduced our asking price and have no viewings for the bank holiday so now I’m just losing hope will it ever happen??!!!! 

It’s all getting to me and so stressful. I need a bigger house for space for the kids. Living here daily is affecting me too as it’s small for us. It’s a bungalow. 

ReadySteadyPop

At the right price most houses will find a buyer.

Veteransaver

In a falling market, just console yourself that you next house (assuming you are upsizing) will be cheaper, even if you have to reduce the asking price of yours

MeteredOut

Veteransaver said:

In a falling market, just console yourself that you next house (assuming you are upsizing) will be cheaper, even if you have to reduce the asking price of yours

A fact often lost on people. If you're moving up the property ladder, a falling market is what you want.

Not easy to see when you're in the middle of all the stress, however.

ReadySteadyPop

Veteransaver said:

In a falling market, just console yourself that you next house (assuming you are upsizing) will be cheaper, even if you have to reduce the asking price of yours

Some sellers are struggling to accept that though, I think that is the problem.

gazfocus

I really feel for you OP. If you're feeling brave, you could share the rightmove link here and people here can give you some helpful suggestions as to whether you can do anything yourself to increase the amount of interest in your house.

sheramber

When the buyer wouldn't fix the roof at the beginning I would have put my house back on the market and told your buyer you would still sell to him if he got a sale before you received a new acceptable on your house
 

amihaan

Thanks for your reply. I’m new here and have no idea how to reply to you individually. How do I do that? 

But to sheramber our house and all the houses on the chain went back on the market, and in fact we didn’t even know that they didn’t fix the roof until the third time the chain broke for that very reason. It was just that we all each only had one buyer ie no other interest in our or our buyer’s house, and the house we wanted. Someone else just put an offer in at like the 11th hour. So gutted. 

I’m not feeling brave enough to share the link but thank you for your kind words. 

Can anyone share any experiences please?? Just to give me some hope. Thing is we got the house at a really reduced price because of the owners situation so with the falling market it may benefit for us buying but not selling, whereas the offer we had on ours was close to asking price but the house we offered on was  significantly lower than asking price. Honestly I’m just so annoyed it worked out for everyone but us AND that new buyer on the house we wanted benefited from our negotiations to reduce the price. 

I probs sound bitter - but I am. I am bitter angry upset depressed about it all and now feeling hopeless  

cymruchris

These kinds of issues are very much prevalent in recent months. Many estate agents will have seen it over and over again. I'm on my third time lucky sale - and it's currently on track - but I lost buyer number one and buyer number two along the way. I'd say at this stage, have a little patience. Mortgage rates have just edged up a few days ago, so there'll be people that are 'waiting' to see what happens next. 

On my second sale - I'd accepted £5k under asking - and my onwards was right at my budget limit - when it fell through I felt similar to you. 

Two weeks later I got my next offer at £5k under and decided to refuse it - and they upped to asking, so I was then £5k up on the previous fall-through. I then found a house on the same street as the one I'd lost, and negotiated a deal at a fair saving over the previous offer - so again better for my pocket. It's still in progress - and all the signs are currently good - but until you've exchanged, anything can happen. (and sometimes even beyond exchange).

Sometimes when things go wrong - the next attempt can be better than the last. So sit tight, and give it a little time before any knee jerk reactions. 

Just make sure the photos are good quality - that the description is accurate and not too flowery - and that any key benefits are mentioned (Such as being close to tescos, or the station, or the motorway or things like that).

gwynlas

Are you with the best agent to sell bungalows in your area, some specialise in them? Whilst you note that bedrooms at least you currently have two so the children can share. It is only recently with smaller families that many children have their own bedrooms. In the recent past there were often three of same sex in a double room whilst the only girl/boy in the family had the tiny box room in typical three bed houses. Could you extend upwards or outwards rather than move?

ReadySteadyPop

amihaan said:

Thanks for your reply. I’m new here and have no idea how to reply to you individually. How do I do that? 

But to sheramber our house and all the houses on the chain went back on the market, and in fact we didn’t even know that they didn’t fix the roof until the third time the chain broke for that very reason. It was just that we all each only had one buyer ie no other interest in our or our buyer’s house, and the house we wanted. Someone else just put an offer in at like the 11th hour. So gutted. 

I’m not feeling brave enough to share the link but thank you for your kind words. 

Can anyone share any experiences please?? Just to give me some hope. Thing is we got the house at a really reduced price because of the owners situation so with the falling market it may benefit for us buying but not selling, whereas the offer we had on ours was close to asking price but the house we offered on was  significantly lower than asking price. Honestly I’m just so annoyed it worked out for everyone but us AND that new buyer on the house we wanted benefited from our negotiations to reduce the price. 

I probs sound bitter - but I am. I am bitter angry upset depressed about it all and now feeling hopeless  

Are you saying that you expect to make a profit on this sale?