Viewing 27 posts - 1 through 27 (of 27 total)
  • Rant Alert – Vendor Pulled Out on Day of Exchange
  • Premier Icon prawny
    Subscriber

    Just venting.

    We sold our house back in January, and made an offer on a nice house, which was accepted after a bit of haggling, I think we overpaid slightly but we were happy with it. The guy doesn’t live there any more he’s moved in with his fiancé and relocating further south. Then a week or so later our buyer lost his buyer and it all collapsed. Arse.

    Put our house back on the market and sold again within a couple of weeks, put the same offer in on the previous house and it was accepted again.

    Shortly after COVID happens, but solicitors wfh, so all paperwork continues. All contracts signed on all sides, and finally a couple of weeks ago we start discussing completion dates. The bottom of the chain who we waiting in suggest the following Friday! Panic stations but ok let’s do it.

    Guy at the top says too soon, needs to arrange his house to be emptied, can’t do before 5th August. Fine we say, better if anything, then a cohort of days of no news.

    Come Friday (yesterday) morning it’s all sorted, everyone has agreed on the 7th so we’ve got a week to sort everything, but everyone is ok with it so we all start booking removals, contracts will be exchanged in the afternoon.

    4 o’clock, phone rings, it’s the estate agent, who have been absent in the whole post sales process, I’ve done the chasing myself. Vendor has pulled out, citing ‘personal reasons’. They didn’t ask any more questions. Oh but can we still move our next Friday or our buyer will pull out!!

    WTF! Our buyer, has sold his old house, isn’t living there, it completed yesterday, I don’t know where he’s currently living.

    Old guy, is in the wind, no one can get in contact with him, I drove by the house but he’s not there.

    I’m fuming. The guy has had 6 months to decide he doesn’t want to move and he does it at the last possible moment.

    We can’t move our next week, we’ve got nowhere to go, I’ve spent today scanning Rightmove for anything acceptable that is no chain so maybe we can get it sorted and keep our buyer, although surely he’d be better off waiting so he doesn’t have to pay all of the solicitors costs on a new property and start again?

    He doesn’t have a dog and I don’t have any bombers so I really don’t know what to do. Contracts weren’t exchanged so we can’t go after him legally.

    I’m just hacked off. I was really looking forward to moving and we’d put off loads until we’d moved into the new house and now we’re stuck with a solicitors bill for a house we can’t buy and the prospect of starting again. The vendor has a house that he’s not living in sat empty bit unwilling to sell for no real reason.

    TL:DR – typical boomer, sh1ts on loads of other people because he feels like it.

    gobuchul
    Member

    It’s completely shit but nothing you can do about it.

    If your lucky your buyer will wait.

    Premier Icon bigdean
    Subscriber

    That’s crap, only thing I could suggest would be renting and storage. Till you get the place you want.

    Premier Icon prawny
    Subscriber

    I suggested that, they wouldn’t let me have his number and he’s not at the house that we’re trying to buy. Because he doesn’t live there 😒 god knows what he’s going to do with it if he doesn’t sell.

    I’m hoping he changes his mind back over the weekend and we only get delayed by a week but I’m not holding my breath

    This happened to me, 3 days before the move date, and in Scotland (don’t let anyone tell you it can’t happen here… missives are now often signed close to moving)

    I juggled my packing, put most of my stuff in storage and moved into a rented place. Very stressful at the time, but once the dust settled I was in a great position to buy and bought my current house at 30k below asking.

    Take a breath, look at the options. But my advice is to try and buy yourself some space. I’ve ended up with a better house in a nicer position… but with no kids it was easier for me. Good luck.

    mrlebowski
    Member

    typical boomer, sh1ts on loads of other people because he feels like it.

    Nice….nice lazy bit of stereotyping 👍

    Premier Icon footflaps
    Subscriber

    typical boomer, sh1ts on loads of other people because he feels like it.

    You had my sympathy up to this bit, now I think the Boomer just didn’t want to sell to you and I can see why.

    Premier Icon prawny
    Subscriber

    mrlebowski
    Member

    typical boomer, sh1ts on loads of other people because he feels like it.

    Nice….nice lazy bit of stereotyping

    The best kind 😎

    mrlebowski
    Member

    You had my sympathy up to this bit, now I think the Boomer just didn’t want to sell to you and I can see why.

    Karma?

    Makes you think..

    Premier Icon prawny
    Subscriber

    You had my sympathy up to this bit, now I think the Boomer just didn’t want to sell to you and I can see why.

    The vendor doesn’t know me from Adam, he was only at one of the viewings, and he was very sexist and quite racist at that. So I don’t think that’s got much to do with it.

    Premier Icon prawny
    Subscriber

    Surely for it to me karma he would had to pull out after I’d called him a boomer? Surely him being offended by me being angry about his actions are karma on him?

    He’s strung 2 families along for 6 months and then dropped us all in it at the 11th hour. I’m pissed off.

    julians
    Member

    He’ll have his reasons, they maybe good reasons or terrible reasons, but it doesn’t matter, those are his reasons and its his choice.

    it’s annoying but there’s nothing you can do at this stage to force him to sell to you, or get any compensation, these are the risks of buying and selling houses.

    Premier Icon rOcKeTdOg
    Subscriber

    , he was only at one of the viewings, and he was very sexist and quite racist at that

    Pretty good going to manage that just walking around a house?

    Premier Icon prawny
    Subscriber

    Premier Icon
    rOcKeTdOg
    Subscriber

    , he was only at one of the viewings, and he was very sexist and quite racist at that

    Pretty good going to manage that just walking around a house?

    Impressive indeed but not surprising. Totally ignored Mrs P until we got to the kitchen, then said here you are you’ll like this, turns to me, women love a nice kitchen etc etc. Followed by, it’s nice round here, no foreigners etc etc.

    Weird how often he said etc when I think about it.

    Premier Icon csb
    Subscriber

    It’s his estate agent you want to hold a grudge against.

    Premier Icon prawny
    Subscriber

    @csp you’re right, sadly they’re also our estate agents. If it does all collapse in on itself the only bonus is that the estate agents will lose both sales and we certainly won’t be relisting with them.

    ji
    Member

    When we first sawt our current house, we found it had already been sold. Frustrating but these things happen. Got a call a few weeks later saying were we still interested – buyer had pulled out for ‘personal reasons’. Went ahead and bought.

    The personal reasons turned out to be the death of one of the buying couple. Don’t judge before you know the facts.

    Premier Icon csb
    Subscriber

    We viewed a beautiful house years ago, absolutely immaculate and perfect. Couldn’t believe how lovely it was and just affordable.

    The only posession in the house were a pair of silver wedding shoes. When we asked what that was all about the estate agent sheepishly admitted the house was being sold by the parents of the newlywed couple who’d driven off a cliff on their honeymoon before they could move in. They left the shoes there sentimentally.

    We didn’t make an offer.

    hugo
    Member

    Very slight tangent, but the buying and selling of houses in the UK, and other places too, is a farce.

    Premier Icon prawny
    Subscriber

    I was more sympathetic yesterday, a lot of my post was slightly tongue in cheek.

    He may have a good reason, he might have been having a wobble selling the family home, I was just venting really. I’m disappointed because this has dragged on so long only to go tits up at the end. And I’m not impressed with how my estate agents handled it. But ho-him, buying houses is supposed to be shit isn’t it.

    Still going to move. Just not this week now.

    Premier Icon bigblackshed
    Subscriber

    And this is what is wrong with the UK (English) way of buying property. It’s the single biggest purchase of most people’s lives and it’s all run on pure chance.

    It should be a case of once an offer is accepted then it’s an enforceable contract. You will be hit with punitive costs if you pull out, either way. It would stop people **** others around.

    Premier Icon csb
    Subscriber

    You will be hit with punitive costs if you pull out,

    Buyers do have costs, assuming they’ve had a survey done. And presumably sellers have legal costs too if it’s late in the process?

    Premier Icon scaredypants
    Subscriber

    We had this 20 years ago – **** pulled out on final day

    His reason? He was trading up to a more expensive house and since the market was rising (it was the late 90s boom) he wanted to wait and get more from his sale

    A) What a ****
    B) Too stupid even to realise that the trade-up was probably rising at the same rate so he’d end up paying more. We were a no-chain buyer, so the timing was all to suit him at that point
    C) What a ****

    in the end it suited us since we left the area shortly after and would have had a whole resale to go through but, bugger me it was stressful at the time (we ended up having 4 rental addresses in 2 years, as successive landlords sold up in the boom)

    Frankly, if I ever met they guy again I’d have battered him and I’m really hoping he lost out big-time in the overall “deal”. I wouldn’t have gone back into a purchase from him under any circumstances

    D) WHAT A ****

    Premier Icon sl2000
    Subscriber

    What @flowerpower says – you could be in a good position. You’ve got a buyer for your house at pre-covid prices. Exchange on Monday and complete as planned for your sale and move into a rental – your estate agent can find you something. Then as a no-chain buyer you should save enough on the house you eventually buy to more than pay for the extra removal and rental costs.

    Premier Icon TiRed
    Subscriber

    Happened to me on the day. Seller pulled out. We were cash buyers with no onward chain. But we had a time pressure due to relocation. Agent unbelievably apologetic. We bought a house three doors down that was nicer but over budget and a struggle. The day we moved in a new for sale sign went up in the other house. They sold for £60k LESS than we had agreed to pay. The new owners basically rebuilt it after. I still think of it as “our house”. But the new owners are lovely.

    My company covered the sunk costs and were very understanding.

    Premier Icon jamj1974
    Subscriber

    I understand your upset and annoyance – very much so. He also sounds like he has unpleasant attitudes too…

    Amazingly stressful time for you.

    Premier Icon martinhutch
    Subscriber

    ou’ve got a buyer for your house at pre-covid prices. Exchange on Monday and complete as planned for your sale and move into a rental – your estate agent can find you something. Then as a no-chain buyer you should save enough on the house you eventually buy to more than pay for the extra removal and rental costs.

    This – get a six month rental and spend the extra time looking for something even better. As a cash buyer you could complete really quickly.

Viewing 27 posts - 1 through 27 (of 27 total)

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