Are we being messed around?

CherryK87

Well, we have now lost our buyer so we are back to square one!   

CherryK87

So here we go again.

After our seller found a property and we found our second set of buyers, we were all moving forward, albeit with a slightly longer chain. To cut a very long story short, we were very close to an exchange date when we found out that our seller would not proceed and had tried to renegotiate another 20k off his property purchase, for absolutely no reason at all. We advised him that we had to complete by March 14th as our mortgage offer was going to expire after having already been extended by a month, and that we also needed to beat the stamp duty change. Again he was refusing to do so. Then out of the blue our buyers dropped out due to personal reasons. 

We put our flat back on the market but the chain above our seller and the one above that decided to remarket. 

We sold again on Monday and now have been advised by our sellers EA that they are unsure if they want to try and open conversations again with the original chain, both of which have not yet sold, or buy a new build. 

We have been looking for alternative properties and even put an offer in on one, but we were outbid with a no chain higher offer.

It's so difficult as the house is so right for us and we are just not finding an alternative, but the stress this is causing is beyond anything I have ever known. 

We are continuing to look constantly, trying to find something that comes close to our original option, but we are in a difficult market where we are based. 

This has all been going on since July last year and I cannot believe that the system is so poor in England and that people can just mess around and drop out whenever they want. It baffles me. 😔

poseidon1

CherryK87 said:

So here we go again.

After our seller found a property and we found our second set of buyers, we were all moving forward, albeit with a slightly longer chain. To cut a very long story short, we were very close to an exchange date when we found out that our seller would not proceed and had tried to renegotiate another 20k off his property purchase, for absolutely no reason at all. We advised him that we had to complete by March 14th as our mortgage offer was going to expire after having already been extended by a month, and that we also needed to beat the stamp duty change. Again he was refusing to do so. Then out of the blue our buyers dropped out due to personal reasons. 

We put our flat back on the market but the chain above our seller and the one above that decided to remarket. 

We sold again on Monday and now have been advised by our sellers EA that they are unsure if they want to try and open conversations again with the original chain, both of which have not yet sold, or buy a new build. 

We have been looking for alternative properties and even put an offer in on one, but we were outbid with a no chain higher offer.

It's so difficult as the house is so right for us and we are just not finding an alternative, but the stress this is causing is beyond anything I have ever known. 

We are continuing to look constantly, trying to find something that comes close to our original option, but we are in a difficult market where we are based. 

This has all been going on since July last year and I cannot believe that the system is so poor in England and that people can just mess around and drop out whenever they want. It baffles me. 😔

Not sure how much you may have squandered on aborted fees, but hopefully you are aware standalone policies exsist for loss fees arising from  the kind of nonsense you are having to endure. 

Having discovered these policies back in 2004 I will not enter to property purchase negotiations without one. Last took one  out in 2020  ( mad covid era ) , and  had to make a claim for aborted solicitor's and survey fees when the seller pulled out 1 day before contracts due to exchange ( they relisted a couple of months later at  £50 k higher).

See link below to one of the providers in this market - 

https://www.rhinohomeprotect.com/home-buyers-insurance/home-buyers-protection-insurance/

CherryK87

poseidon1 said:

CherryK87 said:

So here we go again.

After our seller found a property and we found our second set of buyers, we were all moving forward, albeit with a slightly longer chain. To cut a very long story short, we were very close to an exchange date when we found out that our seller would not proceed and had tried to renegotiate another 20k off his property purchase, for absolutely no reason at all. We advised him that we had to complete by March 14th as our mortgage offer was going to expire after having already been extended by a month, and that we also needed to beat the stamp duty change. Again he was refusing to do so. Then out of the blue our buyers dropped out due to personal reasons. 

We put our flat back on the market but the chain above our seller and the one above that decided to remarket. 

We sold again on Monday and now have been advised by our sellers EA that they are unsure if they want to try and open conversations again with the original chain, both of which have not yet sold, or buy a new build. 

We have been looking for alternative properties and even put an offer in on one, but we were outbid with a no chain higher offer.

It's so difficult as the house is so right for us and we are just not finding an alternative, but the stress this is causing is beyond anything I have ever known. 

We are continuing to look constantly, trying to find something that comes close to our original option, but we are in a difficult market where we are based. 

This has all been going on since July last year and I cannot believe that the system is so poor in England and that people can just mess around and drop out whenever they want. It baffles me. 😔

Not sure how much you may have squandered on aborted fees, but hopefully you are aware standalone policies exsist for loss fees arising from  the kind of nonsense you are having to endure. 

Having discovered these policies back in 2004 I will not enter to property purchase negotiations without one. Last took one  out in 2020  ( mad covid era ) , and  had to make a claim for aborted solicitor's and survey fees when the seller pulled out 1 day before contracts due to exchange ( they relisted a couple of months later at  £50 k higher).

See link below to one of the providers in this market - 

https://www.rhinohomeprotect.com/home-buyers-insurance/home-buyers-protection-insurance/

Hi, 

Unfortunately we weren't aware these policies existed before we embarked on this purchase. However, if we do find another property, then we will definitely be taking out one of these policies to protect us from this kind of issue. 

At the moment we are still continuing with the purchase if the seller decides to actually find a property and go through with it without messing around. However, if we are able to find an alternative property then we will pay the abortive fees applicable for the original purchase and ensure that we have a home buyer protection policy in place before instructing our solicitors to begin the process on the new purchase (if we ever find something suitable!)

Bigphil1474

We moved last year, first time in nearly 30 years. Definitely feels like it has got a lot harder. Think we were lucky to get moved within 10 months start to finish. Good luck.

poseidon1

CherryK87 said:

poseidon1 said:

CherryK87 said:

So here we go again.

After our seller found a property and we found our second set of buyers, we were all moving forward, albeit with a slightly longer chain. To cut a very long story short, we were very close to an exchange date when we found out that our seller would not proceed and had tried to renegotiate another 20k off his property purchase, for absolutely no reason at all. We advised him that we had to complete by March 14th as our mortgage offer was going to expire after having already been extended by a month, and that we also needed to beat the stamp duty change. Again he was refusing to do so. Then out of the blue our buyers dropped out due to personal reasons. 

We put our flat back on the market but the chain above our seller and the one above that decided to remarket. 

We sold again on Monday and now have been advised by our sellers EA that they are unsure if they want to try and open conversations again with the original chain, both of which have not yet sold, or buy a new build. 

We have been looking for alternative properties and even put an offer in on one, but we were outbid with a no chain higher offer.

It's so difficult as the house is so right for us and we are just not finding an alternative, but the stress this is causing is beyond anything I have ever known. 

We are continuing to look constantly, trying to find something that comes close to our original option, but we are in a difficult market where we are based. 

This has all been going on since July last year and I cannot believe that the system is so poor in England and that people can just mess around and drop out whenever they want. It baffles me. 😔

Not sure how much you may have squandered on aborted fees, but hopefully you are aware standalone policies exsist for loss fees arising from  the kind of nonsense you are having to endure. 

Having discovered these policies back in 2004 I will not enter to property purchase negotiations without one. Last took one  out in 2020  ( mad covid era ) , and  had to make a claim for aborted solicitor's and survey fees when the seller pulled out 1 day before contracts due to exchange ( they relisted a couple of months later at  £50 k higher).

See link below to one of the providers in this market - 

https://www.rhinohomeprotect.com/home-buyers-insurance/home-buyers-protection-insurance/

Hi, 

Unfortunately we weren't aware these policies existed before we embarked on this purchase. However, if we do find another property, then we will definitely be taking out one of these policies to protect us from this kind of issue. 

At the moment we are still continuing with the purchase if the seller decides to actually find a property and go through with it without messing around. However, if we are able to find an alternative property then we will pay the abortive fees applicable for the original purchase and ensure that we have a home buyer protection policy in place before instructing our solicitors to begin the process on the new purchase (if we ever find something suitable!)

I am surprised knowledge of this type of cover is not widely known or marketed, especially in England where aborted property transactions is a sad fact of life. I advise everyone I know looking to buy property,  to take out these reasonably priced policies.

A solicitor offered me such a policy back in 2004, and I shopped around for something similar for my subsequent transactions thereafter.

These days, it would appear solicitors either do not see it as their job to make clients aware of such policies, or do not know they exsist. Troubling.

user1977

poseidon1 said:

CherryK87 said:

poseidon1 said:

CherryK87 said:

So here we go again.

After our seller found a property and we found our second set of buyers, we were all moving forward, albeit with a slightly longer chain. To cut a very long story short, we were very close to an exchange date when we found out that our seller would not proceed and had tried to renegotiate another 20k off his property purchase, for absolutely no reason at all. We advised him that we had to complete by March 14th as our mortgage offer was going to expire after having already been extended by a month, and that we also needed to beat the stamp duty change. Again he was refusing to do so. Then out of the blue our buyers dropped out due to personal reasons. 

We put our flat back on the market but the chain above our seller and the one above that decided to remarket. 

We sold again on Monday and now have been advised by our sellers EA that they are unsure if they want to try and open conversations again with the original chain, both of which have not yet sold, or buy a new build. 

We have been looking for alternative properties and even put an offer in on one, but we were outbid with a no chain higher offer.

It's so difficult as the house is so right for us and we are just not finding an alternative, but the stress this is causing is beyond anything I have ever known. 

We are continuing to look constantly, trying to find something that comes close to our original option, but we are in a difficult market where we are based. 

This has all been going on since July last year and I cannot believe that the system is so poor in England and that people can just mess around and drop out whenever they want. It baffles me. 😔

Not sure how much you may have squandered on aborted fees, but hopefully you are aware standalone policies exsist for loss fees arising from  the kind of nonsense you are having to endure. 

Having discovered these policies back in 2004 I will not enter to property purchase negotiations without one. Last took one  out in 2020  ( mad covid era ) , and  had to make a claim for aborted solicitor's and survey fees when the seller pulled out 1 day before contracts due to exchange ( they relisted a couple of months later at  £50 k higher).

See link below to one of the providers in this market - 

https://www.rhinohomeprotect.com/home-buyers-insurance/home-buyers-protection-insurance/

Hi, 

Unfortunately we weren't aware these policies existed before we embarked on this purchase. However, if we do find another property, then we will definitely be taking out one of these policies to protect us from this kind of issue. 

At the moment we are still continuing with the purchase if the seller decides to actually find a property and go through with it without messing around. However, if we are able to find an alternative property then we will pay the abortive fees applicable for the original purchase and ensure that we have a home buyer protection policy in place before instructing our solicitors to begin the process on the new purchase (if we ever find something suitable!)

I am surprised knowledge of this type of cover is not widely known or marketed, especially in England where aborted property transactions is a sad fact of life. I advise everyone I know looking to buy property,  to take out these reasonably priced policies.

A solicitor offered me such a policy back in 2004, and I shopped around for something similar for my subsequent transactions thereafter.

These days, it would appear solicitors either do not see it as their job to make clients aware of such policies, or do not know they exsist. Troubling.

They've come up a few times on the forum but I think people need to be aware of the limited range of situations they actually cover, not simply any abortive transaction.

Wording of one of the policies here: policy-wording-02-02-2025-23-02-14.pdf

poseidon1

user1977 said:

poseidon1 said:

CherryK87 said:

poseidon1 said:

CherryK87 said:

So here we go again.

After our seller found a property and we found our second set of buyers, we were all moving forward, albeit with a slightly longer chain. To cut a very long story short, we were very close to an exchange date when we found out that our seller would not proceed and had tried to renegotiate another 20k off his property purchase, for absolutely no reason at all. We advised him that we had to complete by March 14th as our mortgage offer was going to expire after having already been extended by a month, and that we also needed to beat the stamp duty change. Again he was refusing to do so. Then out of the blue our buyers dropped out due to personal reasons. 

We put our flat back on the market but the chain above our seller and the one above that decided to remarket. 

We sold again on Monday and now have been advised by our sellers EA that they are unsure if they want to try and open conversations again with the original chain, both of which have not yet sold, or buy a new build. 

We have been looking for alternative properties and even put an offer in on one, but we were outbid with a no chain higher offer.

It's so difficult as the house is so right for us and we are just not finding an alternative, but the stress this is causing is beyond anything I have ever known. 

We are continuing to look constantly, trying to find something that comes close to our original option, but we are in a difficult market where we are based. 

This has all been going on since July last year and I cannot believe that the system is so poor in England and that people can just mess around and drop out whenever they want. It baffles me. 😔

Not sure how much you may have squandered on aborted fees, but hopefully you are aware standalone policies exsist for loss fees arising from  the kind of nonsense you are having to endure. 

Having discovered these policies back in 2004 I will not enter to property purchase negotiations without one. Last took one  out in 2020  ( mad covid era ) , and  had to make a claim for aborted solicitor's and survey fees when the seller pulled out 1 day before contracts due to exchange ( they relisted a couple of months later at  £50 k higher).

See link below to one of the providers in this market - 

https://www.rhinohomeprotect.com/home-buyers-insurance/home-buyers-protection-insurance/

Hi, 

Unfortunately we weren't aware these policies existed before we embarked on this purchase. However, if we do find another property, then we will definitely be taking out one of these policies to protect us from this kind of issue. 

At the moment we are still continuing with the purchase if the seller decides to actually find a property and go through with it without messing around. However, if we are able to find an alternative property then we will pay the abortive fees applicable for the original purchase and ensure that we have a home buyer protection policy in place before instructing our solicitors to begin the process on the new purchase (if we ever find something suitable!)

I am surprised knowledge of this type of cover is not widely known or marketed, especially in England where aborted property transactions is a sad fact of life. I advise everyone I know looking to buy property,  to take out these reasonably priced policies.

A solicitor offered me such a policy back in 2004, and I shopped around for something similar for my subsequent transactions thereafter.

These days, it would appear solicitors either do not see it as their job to make clients aware of such policies, or do not know they exsist. Troubling.

They've come up a few times on the forum but I think people need to be aware of the limited range of situations they actually cover, not simply any abortive transaction.

Wording of one of the policies here: policy-wording-02-02-2025-23-02-14.pdf

Indeed, with all insurance it pays to study the fine print to ensure your situation falls within the 'four corners' of the policy contract.
With this policy you cannot have incurred any costs ( including surveys) prior to the policy commencement date. That said my last successful claim was 2020.