PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Buyers pull out of house sale
Comments
-
Yeah I understand that I just feel it’s not correct what the sellers have done after all the time we stuck around there you go tho being nice doing the right thing is clearly wrong0
-
Yeah I understand that I just feel it’s not correct what the sellers have done after all the time we stuck around there you go tho being nice doing the right thing is clearly wrong
But it's also important to recognise situations where further action isn't likely to win anything, except more grief.
The well-used expression, "What doesn't kill you, makes you stronger" applies. You go out and find a better property. That's what we did.0 -
Yeah I know thanks0
-
Both really the house was almost perfect and if we pulled and we didn’t see anything else but more the fact we felt obliged to continue without letting anyone down.
Don't take this personally but if the house was almost perfect and there wasn't anything else to buy, it's not really that you were doing them a favour by waiting was it, it was for your benefit ?
The most you could have done was look around in case there was something else better. And even then trade that off against the possibility of hassles with the new purchase.0 -
I'm selling - and will be buying.
While not ideal - and I don't want to do it - I'll be treating the two transactions as separate and am prepared to sell without buying. Chains are awful and it's worse to lose a buyer because you took too long to buy than the pain of "living on the hoof/anywhere" during a gap.
After six months maybe your buyers' mortgage offer ran out.
While I've viewed 2-3 ... I'm not even viewing until I find a buyer as it's a waste of time if what I'd fancied had been sold while I was waiting ... and you can't have an offer accepted before yours has sold, so that's just making more stress for oneself. I have a shortlist of 46 to view... although, to be honest, none float my boat.0 -
ChrisK..... wrote: »Whilst not commonly pursued it is simple breech of agreement by your sellers when they broke your agreement initially, and if you take them to court you would certainly win and be awarded damages. Your problem is that you would have to evidence how much this cost you, and since you still have your house its probably not that much and might not even cover the time to recover it
PS Dont be surprised if this is contested on here because it's not common knowledge and not commonly pursued but it is legally water tight
This is not true. Verbal agreements are not valid in relation to property.
s2(1) of the Law of Property (Miscellaneous Provisions) Act 1989:
A contract for the sale or other disposition of an interest in land can only be made in writing and only by incorporating all the terms which the parties have expressly agreed in one document or, where contracts are exchanged, in each.0 -
We looked the whole time there was nothing even worth going to view0
-
People will always act in their own interests and you can't expect them to act in yours. They don't know you or owe you anything.
Going forward, you need to consider how you can minimise the chain - can you sell and rent before you buy? Can you be more picky about who you sell to (ie their position as a buyer - not in a chain etc).
The english system is flawed in many ways but its what we have. It requires you to spend money on a sale / purchase that the other party can walk away from at any point up to exchange. Sellers packs that the government tried to introduce about 10 years ago would have solved most of this but sellers didnt want to have to pay for legal documentation up front in case they didnt sell. It is what it is0 -
No we are the same no point viewing until you have a buyer but there is nothing we have seen that we like not even a few likes. But then what do you do if you find a buyer as I wouldn’t want to be paying rent until such a time I found a property0
-
No we are the same no point viewing until you have a buyer but there is nothing we have seen that we like not even a few likes. But then what do you do if you find a buyer as I wouldn’t want to be paying rent until such a time I found a property
You'd be paying rent instead of a mortgage. It would make you a stronger buyer in the seller's eyes and potentially get you the property you want more cheaply because you are a more attractive buyer. Up to you of course, but my advice is based on how to minimise disappointment - you might consider it not worth it, but then again, you might think its worth some additional effort to get the house you really want.0
This discussion has been closed.
Categories
- All Categories
- 343K Banking & Borrowing
- 250K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.1K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards