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Buyers pull out of house sale

24

Comments

  • klik
    klik Posts: 9 Forumite
    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
  • Davesnave
    Davesnave Posts: 34,741 Forumite
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    klik wrote: »
    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
    Doing the right thing and being nice is generally rewarded, but not every time. It's the average over a lifetime that counts .Of course, its good to recognise the difference between being 'nice' and being a doormat.

    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.
  • klik
    klik Posts: 9 Forumite
    Yeah I know thanks
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    klik wrote: »
    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 ? :D

    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.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
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    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.
  • steampowered
    steampowered Posts: 6,176 Forumite
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    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.
  • klik
    klik Posts: 9 Forumite
    We looked the whole time there was nothing even worth going to view
  • SmashedAvacado
    SmashedAvacado Posts: 1,262 Forumite
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    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 is
  • klik
    klik Posts: 9 Forumite
    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
  • SmashedAvacado
    SmashedAvacado Posts: 1,262 Forumite
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    klik wrote: »
    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.
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