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  • FIRST POST
    • klik
    • By klik 11th Oct 18, 5:00 AM
    • 9Posts
    • 2Thanks
    klik
    Buyers pull out of house sale
    • #1
    • 11th Oct 18, 5:00 AM
    Buyers pull out of house sale 11th Oct 18 at 5:00 AM
    Hello

    New to this just wanted to let off a bit of steam and some advice.

    We have been selling our house put it on the market in April had an offer in the first few days and accepted, found ourselfs a house we wanted to buy offer accepted did all the legal stuff there was a problem with the house we were buying and had to wait until last week for it to be resolved no fault of ours all down to the people selling the house we wanted to buy. That all gets sorted and our buys decide they just don’t want to buy now and the people selling us the house after waiting for 6 months for them to sort there !!!! out decide there not waiting for us to find new buyers and also pull out and put there house back on the market.

    How is this fair after waiting all this time for them they didn’t even wait 10 minuets we are so devastated there is nothing at all we can do is there.

    We were meant to exchange next week the whole house is packed up and ready to go, how are these things legally allowed to happen when you get so far in. Fine if there is a problem with the property while doing all the searches and surveys but not when it’s all fine.

    After spending all that time and money on something for people to do that to you.
    Last edited by klik; 11-10-2018 at 5:19 AM.
Page 2
    • SmashedAvacado
    • By SmashedAvacado 11th Oct 18, 9:12 AM
    • 384 Posts
    • 418 Thanks
    SmashedAvacado
    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
    Originally posted by klik
    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.
    • AnotherJoe
    • By AnotherJoe 11th Oct 18, 9:20 AM
    • 11,068 Posts
    • 12,759 Thanks
    AnotherJoe
    We looked the whole time there was nothing even worth going to view
    Originally posted by klik
    Haven't you shot yourself in the foot then with respect to saying you were badly treated because you hung on to do a favour to your vendor and they won't return the favour? . Because it turns out you had no option but to wait ?!

    I don't blame you ranting as it's an annoying process but it turns out you haven't really acted like saints, just in your best interests !
    Please dont criticise my spelling. It's excellent. Its my typing that's bad.
    • davidmcn
    • By davidmcn 11th Oct 18, 9:22 AM
    • 8,834 Posts
    • 9,359 Thanks
    davidmcn
    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
    Originally posted by klik
    But you also don't want what you've just been through. You need to decide which option you dislike less, but if you're being that particular about your next purchase it seems daft to put yourself in the middle of a chain and twiddle your thumbs for months hoping it will all fall in place.
    • Davesnave
    • By Davesnave 11th Oct 18, 9:30 AM
    • 26,439 Posts
    • 95,555 Thanks
    Davesnave
    I wouldn’t want to be paying rent until such a time I found a property
    Originally posted by klik
    If you are going to be picky, that might be the better plan.

    It was a bad time to be selling, so we lost 3 sales in a row. When the fourth went through, we rented because there was nothing we liked. Unlike you, we viewed property throughout; lots of it.

    In rented, with money at the ready, we were finally able to make a purchase that would have been impossible if we'd still been encumbered with a house.

    It took 6 months to find the right thing, looking in 7 different counties. Yes, I think that's picky too!
    A garden is never so good as it will be next year....
    • hazyjo
    • By hazyjo 11th Oct 18, 11:20 AM
    • 11,002 Posts
    • 14,488 Thanks
    hazyjo
    Suppose it's a bit late now, but for anyone else finding this thread in a similar boat...


    NEVER pack before exchanging! If you are bursting at the seams and have a tonne of stuff, or don't have long enough between exchange and completion, pay removal men to pack. Trust me, it is worth EVERY PENNY (and that's me saying that on a money saving site).


    I feel your pain. Been in that boat myself a couple of times. It's soul destroying. Fingers crossed you find something better!
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin(!); shoes
    • comeandgo
    • By comeandgo 11th Oct 18, 11:30 AM
    • 2,213 Posts
    • 2,995 Thanks
    comeandgo
    We always sell then rent till next property available. No mortgage or property insurance to pay and no hassle. Has previously worked in our favour as interest on sale money paid quite a bit of the rent but with such low interest rates probably not applicable now.
    • klik
    • By klik 11th Oct 18, 11:30 AM
    • 9 Posts
    • 2 Thanks
    klik
    Thanks hazyjo
    • Crashy Time
    • By Crashy Time 11th Oct 18, 11:49 AM
    • 6,687 Posts
    • 2,478 Thanks
    Crashy Time
    They were well aware of the situation And had six months to pull out why wait until the last week when we are ready to exchange that’s my point of view thanks
    Originally posted by klik

    Maybe found a cheaper house? Offer them a price drop and maybe they will come back.
    • cjdavies
    • By cjdavies 11th Oct 18, 1:16 PM
    • 3,586 Posts
    • 3,910 Thanks
    cjdavies
    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
    Originally posted by ChrisK.....
    Any links to cases? Just interested, as I never thought you could.
    • Crashy Time
    • By Crashy Time 11th Oct 18, 1:30 PM
    • 6,687 Posts
    • 2,478 Thanks
    Crashy Time
    https://uk.reuters.com/article/us-britain-boe-lending/uk-banks-expect-biggest-mortgage-lending-cutback-since-2008-bank-of-england-idUKKCN1ML0ZT


    Expect more buyer pull-outs?
    • Davesnave
    • By Davesnave 11th Oct 18, 1:54 PM
    • 26,439 Posts
    • 95,555 Thanks
    Davesnave
    Any links to cases? Just interested, as I never thought you could.
    Originally posted by cjdavies
    That's wicked of you, asking for evidence!
    A garden is never so good as it will be next year....
    • lookstraightahead
    • By lookstraightahead 11th Oct 18, 4:48 PM
    • 477 Posts
    • 453 Thanks
    lookstraightahead
    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.
    Originally posted by klik
    You would buy a house purely because you felt obliged not to pull out? Of course you wouldn't. You were acting in your own best interests, as were every other party. That's what business transactions are about.
    • Crashy Time
    • By Crashy Time 11th Oct 18, 10:29 PM
    • 6,687 Posts
    • 2,478 Thanks
    Crashy Time
    You would buy a house purely because you felt obliged not to pull out? Of course you wouldn't. You were acting in your own best interests, as were every other party. That's what business transactions are about.
    Originally posted by lookstraightahead

    Exactly, people are just getting stressed because there are so few buyers about now.
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