Just need somewhere to vent!

janoid19

I spoke to the agent this morning. She has been brilliant and said she spent 25 mins on the phone yesterday with the buyer going through the survey (which is apparently really good for the age of house, 1930's) and said if this survey scares you then you need to be looking at new builds.

The 3's on the survey were just gas, electric, hot water etc so the EA was giving her over night to think about it, so lets see.

EssexHebridean

Get the house back on the market ASAP - you can always pull it again if the buyer comes back and proceeds. 

penners324

The house buying and selling process in England & Wales is ludicrously antiquated.

Unfortunately there's no real political willingness to update the process and when they did make a very poor effort (Home buyers packs) about 20 years ago was a waste of time.

ReadingTim

To the extent she hasn't already, get your EA to remind them that all the money they've spent on surveys, legal fees etc thus far will be wasted - you don't get a refund if you don't complete the purchase.  That might concentrate their minds....

If it doesn't, perhaps be wary about accepting offers from FTBs in future: some get spooked over the slightest thing, making for a fraught sale, and the so-called benefits of them being chain free aren't always what they're cracked up to be.  

janoid19

ReadingTim said:

To the extent she hasn't already, get your EA to remind them that all the money they've spent on surveys, legal fees etc thus far will be wasted - you don't get a refund if you don't complete the purchase.  That might concentrate their minds....

If it doesn't, perhaps be wary about accepting offers from FTBs in future: some get spooked over the slightest thing, making for a fraught sale, and the so-called benefits of them being chain free aren't always what they're cracked up to be.  

I was thinking this. FTB's are made out to be what you want as they have no chain however its not always the best option as like you said, they can get scared easily in the process.

janoid19

Back on the market! 

EA just couldn’t even get hold of the FTB. Very frustrating. 

On the upside, the EA has a request to view already so fingers crossed. 

annetheman

janoid19 said:

Back on the market! 

EA just couldn’t even get hold of the FTB. Very frustrating. 

On the upside, the EA has a request to view already so fingers crossed. 

Good luck with the viewing! You had multiple offers quickly last time which indicates you are priced right and have a desirable home; use that as very good reason to convince your seller to give you time to go under offer ASAP.

Earlier this year I not only lost my buyer (they gazundered so I pulled out), I then dumped my terrible, chain EA, changed to a local firm, re-listed and went under offer again within a month. That sale then finished MONTHS before my purchase was anywhere near to exchange - an empty house with no further onward chain.... Long story short an easy sale can catch up, no problem!

I would recommend keeping your seller informed with every little update - a viewing, or even just updating the listing etc - to give them the reassurance you're still very much committed and super "on it" and that it'll be just as quick as before!

TripleH

From a buyer perspective, these are some of the seller stories we faced 3 years ago as chain free buyers (we didn't offer on all of these properties).

1. Chain free sellers (moving abroad) onward purchase in UK fell through, we were told to wait until they found a property they liked. Plus he wanted to sell, she didn't. Real reason we suspect is that they wanted more money and had 3 aborted sales in 16 months

2. Wife wanted to sell, husband didn't as they were moving in with his MIL, they weren't communicating this to each other.

3. Penthouse flat in major city centre 'didn't know status of cladding' which is unlikely, suspect they were trying to avoid a major cladding bill but priced property as if no cladding issue. Kitchen and flat were trashed and needed replacing 'but were only 3 years old'.

4. Newly refurbished flats (to poor standard) were visibly leaking through roof but the developer refused to allow any scaffolding up to fix leak as he was on site building a black of flats behind it

5. New Flat in converted mill had issues with lease that they 'promised to fix once we exchanged'. Lovely flat but about 3 months after we were meant to move in the carpark next door had permission to be build on for more flats.

6. Newish build house up for sale (divorcing couple?) Wanted more for a 1 year old house than brand new houses on the same development.

We did look at more properties than the above and despite the subsequent issues, are happy in our current home.

As sellers, we sold our flat during lockdown and had to travel down from the north of England to the south 1 day to get photos of the boiler servife record to stop the sale falling through as it was important and apparently we'd have it with us rather than ieave it in the flat itself.

Think my point is that house buying is an unusual part of life and expect the weird and illogical.

whizzywoo

Rubbish isn't it!

It's happened 3 times to us now.

1st buyer pulled out two weeks after offer accepted.  Decided it needed too much work.

2nd buyer pulled out after being incredibly slow for 4 months.  Said it was the survey but he knew the work it needed.  FTB with cold feet we think.

3rd buyer - a developer who was a cash buyer.  Got as far as Exchange and Completion set for the same date in early December.  Never happened and for 2 days no one could get hold of him.  Turned out that he had health problems and had been in hospital and no longer able to proceed.

Back on the market now - hopefully 4th time lucky.  Just so so stressful.  Luckily we are in temporary accommodation and so until the money is in the bank we are not viewing anything to move into.

MikeJXE

S**T happens 

I have bought and sold 10 homes in my lifetime and only 1 buyer has ever pulled out

That was my first back in 1969 

My brother got cold feet the day of exchange