Buyer has just pulled out :(

18
Found 3rd Feb 2014
Just a rant really.

Accepted an offer on our shared ownership property in Sept 13, have had a long and horrid drag of trying to get to exchange with the buyer. We returned our signed contracts 2 weeks ago and today have found out the buyer has pulled out. Blamed delays (which was his blooming mortgage!) Absolutely gutted, made worse by the fact that we have already moved in to rented accommodation (moved for work).

So stressed about it all, why didn't the buyer pull out weeks ago instead of leaving it until the last minute?!

Rant over
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18 Comments
Poor system here designed to help buyers but doesn't protect sellers. Scotland have got it right.
Maybe he didn't have a mortgage ready and wasn't expecting any trouble and got turned down in the end ?
Yes from what I've been reading online it seems your right! I can't believe someone can cost you so much money and get away with it. I feel so bitter about it, I suppose you just never think it will happen to you and obviously we only have ourselves to blame for moving out!
sn0ttyang3l

Maybe he didn't have a mortgage ready and wasn't expecting any trouble … Maybe he didn't have a mortgage ready and wasn't expecting any trouble and got turned down in the end ?


Nope his mortgage has been approved now, it was all with our solicitors :'(
gbspurs

Poor system here designed to help buyers but doesn't protect sellers. … Poor system here designed to help buyers but doesn't protect sellers. Scotland have got it right.


it can still happen in Scotland only there is a hefty fine (of solicitors fees) that buyer has to pay.
I might be talking out my **** here but I thought you could invoice them for your losses etc?
Huggett93

I might be talking out my **** here but I thought you could invoice them … I might be talking out my **** here but I thought you could invoice them for your losses etc?



I don't think you can until you've actually exchanged and we've only signed the contracts so not technically exchanged. I'm still sat here hoping for a miracle, praying that he changes his mind but the chances of that happening are slim!
Hang on there. I have been there, 3 fell through sales. Just recently sold mine after 11 months in market and 7 months vacant.
Work closely with your agents and solicitors - follow up buyer very closely. The law in England is pain in the ass, it down to people courtesy and some people are selfish - avoid telling the truth and leave seller in limbo. Keep positive and hope the best outcome coming soon
stout2212

Hang on there. I have been there, 3 fell through sales. Just recently … Hang on there. I have been there, 3 fell through sales. Just recently sold mine after 11 months in market and 7 months vacant.Work closely with your agents and solicitors - follow up buyer very closely. The law in England is pain in the ass, it down to people courtesy and some people are selfish - avoid telling the truth and leave seller in limbo. Keep positive and hope the best outcome coming soon



Thank you, I'm hoping I'll wake up tomorrow with a fresh take on it all. Just a concern financially, but that's our fault so we'll just have to manage!
dcx_badass

I've got a friend who started the process early October, was supposed to … I've got a friend who started the process early October, was supposed to move end of November, then pushed to the week before Christmas, they were excited to have their first home in time for Christmas, as it stands now they've still not moved in. They told the owner that 4+ months Is ridiculous and they just replied well if you want to pull out then let us know and we won't bother packing. It's an absolute joke, but with it being their first house, they don't want to lose all the money they've spent so far.


Your poor friends, I hope they get to move soon! X
lost £1k on our first house. she pulled out on day of signing. she had done it before too. We are buying selling too at moment. they are coming tomorrow to take another look even though we've accepted their offer. it just feels like they are coming round to try knock money off or ask for our white goods or they'll pull out. wish I lived in Scotland.
clare1987is

Thank you, I'm hoping I'll wake up tomorrow with a fresh take on it all. … Thank you, I'm hoping I'll wake up tomorrow with a fresh take on it all. Just a concern financially, but that's our fault so we'll just have to manage!



Dont forget to inform the council you move out, you might entitled for discount. We did have a few month discount, it helps a little bit for a few months
stout2212

Dont forget to inform the council you move out, you might entitled for … Dont forget to inform the council you move out, you might entitled for discount. We did have a few month discount, it helps a little bit for a few months



Luckily our council tax is paid until April, but goes up to full whack from then; hopefully we'll have permission to rent it by then
backyard

lost £1k on our first house. she pulled out on day of signing. she had … lost £1k on our first house. she pulled out on day of signing. she had done it before too. We are buying selling too at moment. they are coming tomorrow to take another look even though we've accepted their offer. it just feels like they are coming round to try knock money off or ask for our white goods or they'll pull out. wish I lived in Scotland.



It's awful that they can cause so much distress without any liability! X
clare1987is

Luckily our council tax is paid until April, but goes up to full whack … Luckily our council tax is paid until April, but goes up to full whack from then; hopefully we'll have permission to rent it by then



Even though council tax is paid if you are not living in property and it is empty and unfinished you can get vacant priority exemption. If it is not empty then discount for that is available. A refund should be given whatever.
Shared ownership eh.

If your finding it difficult to sell have to tried simultaneous staircasing and assignment?
op calm down, deep breths

find out were they live take them round a bottle of wine, and say no hard feelings,

while they are out at work the next day burn their house down, they will soon want to buy that house from the nice person who brought them some wine round
As 'buyers' we have been on the other foot....the day before exchange the seller decided not to go through with it and stopped the sale....cost us a fortune and a whole load of stress. The idiot eventually sold 6 mths later to someone else.

Hope things work out for you soon, good luck.
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