Would you feel guilty pulling out of a sale

Davesnave

If you've decided to pull out, ring the sellers personally and explain. Don't leave it to a third party. It won't be pleasant and they'll not want to hear what you say, but at least they might respect you for having the decency to do that.

Our buyers kept us on the hook for three months, then went on holiday not long before exchange, but they'd already decided to pull out. I won't go into the awful details, but it was the fact that I had to ring them to ascertain the truth which jarred. It was worse than the disappointment of losing a property the like of which may take us another year to match.

kingkano

Or worse. The buyer just stops answering the phone and you don't know for weeks whether there is a problem or they are just 'on holiday' or something else.

I agree you must have realised the writing was on the wall 6wks ago. You've negotiated a 10% discount. Ultimately its your decision. I would feel guilty but I would also do the best thing for myself and my family. Its a dog eat dog world afterall.

It comes down to you gambling 30k on whether the prices of the houses that fit your needs will drop 6% in the next 12mths. Add into the equation the credit crunch will probably be even more severe then (will you be able to get the money) and who knows what else will have happened in the economy.

My last point is if your going to pull out, for goodness sake stop talking about it on a forum and tell the vendors as soon as. DOn't leave it till the day before exchange when arrangements have been made for moving by them (not by you as you know what your doing)!

poppy10_2

happinessfactory wrote: »

I'm actually really surprised that a psychiatrist is prepared to make such a simplistic observation.

1 in every 3 sales fall through. Do you expect those vendors to kill themselves too?

Your patient was no doubt extraordinarily fragile, but to suggest his suicide attempt was simply the result of a lost house sale is a bit sweeping.

If you actually read my post, I never said the chap attempted suicide because of the house sale falling through, nor that the buyer was to blame to pulling out.
Of course this guy had other problems, this was just the last straw that broke the camel's back. I know not everyone in his circumstances would have done what he did. But nevertheless, millions of people are going to be hit very badly indeed.You can argue about whether it is their own fault or not, but you can't deny the sheer scale of the human tragedy that is about to unfold.

Jonbvn

Buying a house is simply a business/financial transaction. For the majority of people, it is the largest and most important transaction they will ever undertake.

As difficult as it is to put into practice, such transactions and the related decisions should be executed in completely logical & non-emotive manner wherever possible. Ideally, you should think about purchasing a house like you do purchasing a normal item of clothing. Unfortunately this is extremely difficult, since 90% of the UK population have got property OCD.

happinessfactory

poppy10 wrote: »

Just a note - I am a psychiatrist and today we have just admitted a chap who tried to kill himself after his house sale collapsed, due to the buyer pulling out,

[quote=poppy10;9096631If_you_actually_read_my_post,_I_never_said_the_chap_attempted_suicide_because_of_the_house_sale_falling_through,_nor_that_the_buyer_was_to_blame_to_pulling_out._[/quote]


Apologies for misunderstanding you, Poppy10, but the conjunction usually suggests a causal relationship

I'm sure it wasn't your intention, but your post came across as piling on the guilt so far as the OP was concerned, whereas I think we're all speaking from the same sheet - don't borrow more than you can afford

merlinthehappypig

happinessfactory wrote: »

Apologies for misunderstanding you, Poppy10, but the conjunction usually suggests a causal relationship

I read it that way as well, to be honest.