My Buyer pulled out. HELP

debasur

Had a buyer for my house who , even though we had not found a place, was in the EA everyday wanting to go ahead.
So me and other half stepped up our searching and a house came back on the market which we were stunned by.So we had a offer accepted and were just starting to get the legals moving along when this morning i get a phone call from my EA telling me my buyer is pulling out.
We are both absolutley gutted.
I know nothing has been signed so nothing legal but what happened to verbal contract if there is such a thing. Also yep it sounds petty but this guy has really ruined it all for us and i want to know if i can threaten to sue or sue for his pulling out. We were at the stage where solicitors were involved but as said nothing legally signed.
Looks like we are losing our fantastic house that for the last week we have been dreaming about living in.

chelseablue

If no contracts were exchanged/signed then no you cant sue.

A buyer can pull out at any time before signing

wendym

I know it doesn't really make it feel any better, but after this happened several times to my daughter they grabbed a buyer, lost the house they were within a whisker of getting, and ended up renting a horrible unfurnished house, just to have a roof over their heads.
House selling and buying is so stressful.

Vaux-Hall

Sadly the above is true; it's happened to me before. Until you exchange contracts there is nothing binding. Hope you find something better or cheaper.

marvin

My Girlfriend is in a similar situation except the offeree is still interested but changed their story part way in.

They made an offer an indicated they would be cash buyers not reliant on the sale of a property or a mortgage to buy (Were not talking the low end of the market here talking in the region on £1/2 m).

Then when the legals were in the process of being sorted they cahanged and said they would, on advice of their accountants, have to wait to sell one of their other properties first.

So stuck in nowhereland.

She has also had other offers on the property which later on they have pulled out of.

I think its time that if you make an offer on a property you have to seal that offer with a non refundable deposit.

sadly there is no action you can take against them.

Gillibobs

I definitely feel for you as we had similar, found a buyer who seemed really keen, had an offer accepted on a house and a week later just as we were sorting the mortgage our buyer pulled out (FTB - due to nerves) It made me VERY angry at the time, but unfortunately like others have said the system is an !!! and there is nothing you can do.

We were lucky in that our vendor is moving to the states so wasn't in a rush to sell and agreed to hang on for us to sell which we then had another offer two weeks later of which has now exchanged.

Hang in there, I know it's tough but hopefully it will all work out in the end. Can you talk to the vendor and try and come to some arrangement maybe if they keep it off the market for a certain time period for you to hopefully sell again?