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  • FIRST POST
    • Morata_
    • By Morata_ 6th Feb 18, 10:34 AM
    • 42Posts
    • 13Thanks
    Morata_
    Bad luck or common theme...
    • #1
    • 6th Feb 18, 10:34 AM
    Bad luck or common theme... 6th Feb 18 at 10:34 AM
    Since November, we have achieved 4 accepted offers on our house, all falling through, often the chain falling apart within a couple of weeks, one going 11, and then falling through.


    I am considering taking my property off, ive lost confidence (and money!) and just wondered if I have been unlucky or is this what people are seeing happen more, offers being made and then falling though?


    Needs to be more to protect people, maybe a fee on offer, say 500 given to vendor is buyer changes mind?


    Desperately gutted, with a family with 3 children, its been heart-breaking.


    Thanks for reading.
Page 1
    • hazyjo
    • By hazyjo 6th Feb 18, 10:41 AM
    • 10,335 Posts
    • 13,373 Thanks
    hazyjo
    • #2
    • 6th Feb 18, 10:41 AM
    • #2
    • 6th Feb 18, 10:41 AM
    Why have they fallen through? Someone pulling out elsewhere up the chain, or usually pulling out of yours? Why hasn't everyone waited for another link instead of all giving up? Is there something wrong with your house that they've all spotted or been wary of? Have they had low valuations?


    Yes, you have been unlucky. I believe it's still 1 in 3 chains that collapse - but they're often held back together when a new link joins the chain.


    I don't agree about a fee. There are countless reasons why a sale/purchase might fall through and I don't see why it shouldn't be someone's right to change their mind up until exchange.


    Good luck!
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin!
    • Morata_
    • By Morata_ 6th Feb 18, 10:47 AM
    • 42 Posts
    • 13 Thanks
    Morata_
    • #3
    • 6th Feb 18, 10:47 AM
    • #3
    • 6th Feb 18, 10:47 AM
    Buyers, buyer twice pulling out.


    First sale, buyer changed mind within 7 days.


    We have sold our quickly eachtime within a few weeks, for 98% of asking everytime. I have lost faith. We are not "desperate" but with 3 kids, would like more space etc.


    I get your point about, but believe its too easy to offer with little intentions.
    • hazyjo
    • By hazyjo 6th Feb 18, 10:54 AM
    • 10,335 Posts
    • 13,373 Thanks
    hazyjo
    • #4
    • 6th Feb 18, 10:54 AM
    • #4
    • 6th Feb 18, 10:54 AM

    I get your point about, but believe its too easy to offer with little intentions.
    Originally posted by Morata_
    Some sellers keep it on the market until someone shows commitment, like spending hundreds on searches or getting the survey arranged.


    I've had chains collapse and (twice) it's taken around a year to actually complete from start to finish. I feel your pain and have been messed around lots myself, but I think it's just part and parcel of moving. For every one I've lost, I've always looked back and thought there was a reason. Mainly things have worked out for the best.
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin!
    • LandyAndy
    • By LandyAndy 6th Feb 18, 10:55 AM
    • 24,215 Posts
    • 51,156 Thanks
    LandyAndy
    • #5
    • 6th Feb 18, 10:55 AM
    • #5
    • 6th Feb 18, 10:55 AM
    Buyers, buyer twice pulling out.


    First sale, buyer changed mind within 7 days.


    We have sold our quickly eachtime within a few weeks, for 98% of asking everytime. I have lost faith. We are not "desperate" but with 3 kids, would like more space etc.


    I get your point about, but believe its too easy to offer with little intentions.
    Originally posted by Morata_

    Why did the other three pull out? Did they give reasons? Had any of them had surveys?


    You can't take a buyer too seriously until they've committed at least some money (survey fee) to the process.
    • davidmcn
    • By davidmcn 6th Feb 18, 11:53 AM
    • 7,310 Posts
    • 7,347 Thanks
    davidmcn
    • #6
    • 6th Feb 18, 11:53 AM
    • #6
    • 6th Feb 18, 11:53 AM
    Needs to be more to protect people, maybe a fee on offer, say 500 given to vendor is buyer changes mind?
    Originally posted by Morata_
    But you'd need to negotiate some sort of pre-contract contract to define what counts as justifiable or non-justifiable "changing mind".
    • PokerPlayer111
    • By PokerPlayer111 6th Feb 18, 11:54 AM
    • 243 Posts
    • 84 Thanks
    PokerPlayer111
    • #7
    • 6th Feb 18, 11:54 AM
    • #7
    • 6th Feb 18, 11:54 AM
    Some sellers keep it on the market until someone shows commitment, like spending hundreds on searches or getting the survey arranged.
    Originally posted by hazyjo
    Yeah thats why when you put in a offer as a buyer you should state the property has to be taken off the market if offer accepted.
    Last edited by PokerPlayer111; 06-02-2018 at 12:12 PM.
    • StumpyPumpy
    • By StumpyPumpy 6th Feb 18, 12:56 PM
    • 1,239 Posts
    • 3,325 Thanks
    StumpyPumpy
    • #8
    • 6th Feb 18, 12:56 PM
    • #8
    • 6th Feb 18, 12:56 PM
    Personally, I'd be speaking with my Estate Agent to find out why so many people are making offers and then pulling out. When we last sold our EA was very proactive in making sure the people offering were in a position to follow through and were really committed to the process. All offers came through to us but he would make a little aside about whether he thought it was a "good" offer.

    The problem is that there are some people who will offer almost on a whim and then withdraw weeks or even just days later. There are even people that post on fora like these proudly declaring that they have made simultaneous offers hoping to play one buyer against another or have made offers without even viewing the property then withdraw because of something that would have been obvious if they'd actually spent more than 30 seconds considering the property.

    Unfortunately, there is not much that you can do. Some people have no consideration for anyone else and do not appreciate, or care about, the problems and expense they cause others when they act in this way. You could ask the EA to confirm that buyers are in a position to proceed before you will consider an offer and also ask them to continue marketing your property until you are satisfied that they are serious. But even then, chains will break down. It is a pain, but hopefully the next offer will be the last you need. Good luck.

    SP
    Come on people, it's not difficult: lose means to be unable to find, loose means not being fixed in place. So if you have a hole in your pocket you might lose your loose change.
    • enjoyyourshoes
    • By enjoyyourshoes 6th Feb 18, 12:59 PM
    • 1,047 Posts
    • 1,280 Thanks
    enjoyyourshoes
    • #9
    • 6th Feb 18, 12:59 PM
    • #9
    • 6th Feb 18, 12:59 PM
    Why not ask for an upfront none refundable deposit ?
    Debt is a symptom, solve the problem.
    • davidmcn
    • By davidmcn 6th Feb 18, 1:08 PM
    • 7,310 Posts
    • 7,347 Thanks
    davidmcn
    Why not ask for an upfront none refundable deposit ?
    Originally posted by enjoyyourshoes
    Because no sensible buyer would agree to that?
    • cjdavies
    • By cjdavies 6th Feb 18, 2:12 PM
    • 3,211 Posts
    • 3,426 Thanks
    cjdavies
    Why not ask for an upfront none refundable deposit ?
    Originally posted by enjoyyourshoes


    I'm sure there are plenty of more to look at without asking for this.


    Also what are the conditions?
    • hazyjo
    • By hazyjo 6th Feb 18, 3:48 PM
    • 10,335 Posts
    • 13,373 Thanks
    hazyjo
    Yeah thats why when you put in a offer as a buyer you should state the property has to be taken off the market if offer accepted.
    Originally posted by PokerPlayer111
    I always do - but all you can do is ask. They're not obliged to accept.


    They know to take me seriously and I start balls rolling in every direction at once and turn everything round by return. I don't wait for one thing before doing the other.


    In the OP's shoes, I would want to see some sign of action from a buyer before taking my property off the market.
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin!
    • Crashy Time
    • By Crashy Time 7th Feb 18, 2:31 PM
    • 5,873 Posts
    • 2,319 Thanks
    Crashy Time
    Most sellers would do themselves a large favour by just cutting the price, asking people viewing something you need to sell to put down a deposit in case they don`t like it or work out it is over-priced is laughable, sorry
    • cloo
    • By cloo 7th Feb 18, 4:16 PM
    • 1,012 Posts
    • 937 Thanks
    cloo
    There are schemes that offer deposit schemes aiming to stop people pulling out, eg https://www.gazeal.co.uk/ but no idea how effective or accepted they are.

    Four dropouts is unlucky but not totally unusual... someone I know said her sister had five buyers pull out. In that case she thinks it was because the property was lovely and in a very desirable area, but it was therefore expensive for the size, so people fell in love with it but then panicked they'd paid over the odds. (I think this happened with the buyers we lost in our last place) Could it be the case that your place is really a bit too pricey and buyers are getting cold feet?

    Good luck with sorting it out - I feel your pain about needing more room, that was our situation for a while!
    • JoJo1978
    • By JoJo1978 7th Feb 18, 4:31 PM
    • 342 Posts
    • 423 Thanks
    JoJo1978
    Does your EA !!!8216;pre qualify!!!8217; buyers before letting them view? Ours did although the buyers were obviously under no obligation to comply. But I think serious buyers who already have their ducks in a row with AIP etc won!!!8217;t mind showing that they!!!8217;re ready and able.

    Maybe instruct the EA to only accept viewings from proceedable buyers. It will cut down footfall but maybe also eliminate some pain.

    Best of luck
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • Crashy Time
    • By Crashy Time 7th Feb 18, 5:38 PM
    • 5,873 Posts
    • 2,319 Thanks
    Crashy Time
    Does your EA !!!8216;pre qualify!!!8217; buyers before letting them view? Ours did although the buyers were obviously under no obligation to comply. But I think serious buyers who already have their ducks in a row with AIP etc won!!!8217;t mind showing that they!!!8217;re ready and able.

    Maybe instruct the EA to only accept viewings from proceedable buyers. It will cut down footfall but maybe also eliminate some pain.

    Best of luck
    Originally posted by JoJo1978

    Buyers will get serious when they see value, until then it is a price standoff, luckily higher interest rates are riding to the rescue.....
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