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selfish buyer pulls out

nadiamaj
nadiamaj Posts: 27
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edited 6 January 2018 at 2:42PM in House buying, renting & selling
2 days before exchange my buyer pulls out because it was taking too long

we offered to pay her rent....
were breaking the chain to moving to rented property and putting our stuff into storage
i mean seriously!!! and now shes starting the whole process again

im furious
3 of us in a chain and now houses all gone back on

i need to sell mine quick as we negotiated hard and borrowed money and cant afford another house it was our perfect house
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Comments

  • How long did it take? (No judging - I just can't be angry for you without knowing)
  • G_M
    G_M Posts: 51,977
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    There's more to this than what's in your post.

    No buyer would pull out "2 days before Exchange" because it was taking too long and then start the process again.

    There's another reason they pulled out.
  • nadiamaj
    nadiamaj Posts: 27
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    could be another reason but sh didn't tell us and was the area she was looking at G_M

    12 weeks from accepting offer just pulled out before xmas yet our new house isn't complete until feb
  • G_M
    G_M Posts: 51,977
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    People rarely give the real reason.

    Maybe she found a nicer house. Maybe just went off yours. Maybe decided Feb was too long. Maybe getting separated suddenly. Maybe lost job or had a financial difficulty.

    You'll never know. Move on.
  • Doozergirl
    Doozergirl Posts: 33,775
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    I agree, it will be something else. Cold feet.

    Blames you, which is cruel, as you sound quite nice. It would have been something in her own head.
    Everything that is supposed to be in heaven is already here on earth.
  • TheGame21
    TheGame21 Posts: 187
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    We are close to completion however are worried about a similar thing happening to us. I think if someone pulls out at this late stage they should be liable to pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc.

    Someone has mentioned to me that this is the case in Scotland, is this true?
  • G_M
    G_M Posts: 51,977
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    TheGame21 wrote: »
    We are close to completion however are worried about a similar thing happening to us. I think if someone pulls out at this late stage they should be liable to pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc.
    So if at a late stage your solicitor told you there was a covenat prohibitting you from building an extension (and you'd planned to do so), or your surveyor told you the roof needed replacing, you would pull out and happily "pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc."

    ??
  • JoJo1978
    JoJo1978 Posts: 375
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    TheGame21 if you have exchanged already and your buyer fails to complete them your solicitor can help you apply for costs from them. However, if they do complete on the specified day but so late in the day that you incur additional costs then they don't owe you anything because they are not in breach of contract. But if you haven't exchanged and the worst happens (in England) there are no grounds to reclaim any costs. I agree it sucks but I don't know if it's different in Scotland.

    Sadly our vendors never did find out honestly why their vendors withdrew on the day of exchange. Again, they gave a reason that blamed timescales but it was clearly a bigger and more personal issue. More positively they went ahead with our sale and found themselves another house to buy quickly, but they were out of pocket on survey and sols fees.
  • TheGame21
    TheGame21 Posts: 187
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    G_M wrote: »
    So if at a late stage your solicitor told you there was a covenat prohibitting you from building an extension (and you'd planned to do so), or your surveyor told you the roof needed replacing, you would pull out and happily "pay any costs incurred for everyone in the chain e.g mortgage fees, removals etc."

    ??

    I'm talking within 5 days of exchange/completion. All the stuff you mentioned should be covered in the survey/searches well before that and obviously no one has started moving/packing at that point. I'm talking right near the completion date, why should everyone in a long chain suffer because some one pulls out because they have 'cold feet'? They should not be able to do that without consequences.
  • TheGame21
    TheGame21 Posts: 187
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    JoJo1978 wrote: »
    TheGame21 if you have exchanged already and your buyer fails to complete them your solicitor can help you apply for costs from them. However, if they do complete on the specified day but so late in the day that you incur additional costs then they don't owe you anything because they are not in breach of contract. But if you haven't exchanged and the worst happens (in England) there are no grounds to reclaim any costs. I agree it sucks but I don't know if it's different in Scotland.

    Sadly our vendors never did find out honestly why their vendors withdrew on the day of exchange. Again, they gave a reason that blamed timescales but it was clearly a bigger and more personal issue. More positively they went ahead with our sale and found themselves another house to buy quickly, but they were out of pocket on survey and sols fees.

    Thanks, our situation is that we have not been able to exchange on the date agreed by everyone because one of the Solicitors has failed to ask for the funds to be released and when they have, the bank have said it will take 5 working days. Exchange is now set for a week after the original agreed date and one person in the chain has also failed to return some paperwork.

    There are families in the chain wanting their kids to start school and also some children with specific needs who need to move. Everyone is now being held up because of someone's else's mistakes/incompetence.
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