Buyer pulled out ... damn you Referendum

[thesnailandthewhale]

So we were almost ready to exchange, just waiting on one bit to come back from freeholder and my buyers (ftb's) have said they are worried about the interest rates / house prices because of Brexit and they have pulled out. I am so so gutted. I am a single parent and I spent weeks and weeks painting / replacing carpets etc, generally getting the place ready to sell, and have gone through all the stress of getting the mortgage sorted / survey / searches etc etc ... and now we're back at the beginning again.

I really hope no-one else has buyers that wobble this easily :(

[JT05]

No answers, but . Very stressful, but enjoy the lovely things you have done to your flat.

[Playduh]

[CatherineDeB]

Really sorry for you snail , sadly if we were in the middle of buying right now we would be seriously considering our position. Future EU funding drying up for DH very is bad for us.

[Didiusfalco]

So sorry, that sounds like such a pain for you.

Must admit though, if I was a ftb or making a big jump up the property ladder I would be questioning whether the value of the property I was buying was about to fall due to brexit.

[thesnailandthewhale]

Yep I know, I don't blame my buyers, I'd probably think about doing the same in their position, but it I just feel so gutted right now :(

[Andcake]

That's awful...but not surprised. Tbh we bought earlier this year a place which needs some work and cancelled some of the nice to have work today ( and it was not a foriegn builder)

[Sleepingbunnies]

[scurryfunge]

Sorry you are experiencing this. I'm in the process of buying and would not consider pulling out. I intend to stay for a while and despair at the panicky people.

[nemno]

My FTB family member pulled out today on a flat in London. Exchange date was today because the vendor kept delaying , my family member had been trying to exchange for a month. I am so relieved for them though they are fed up of sofa surfing. There will be plenty more London flats.

[nemno]

Sorry OP, I meant to post that on the other thread where that OP was getting a hard time for considering this. I hope you can get sorted soon.

[CatherineDeB]

Poor 'panicky' people who are in serious danger of losing their EU funded research incomes scurry?? As in wiped out beyond 2016/17.

Sorry OP but this decision is bad for so many reasons, some of them on a very personal level.

This happened to us a couple of years ago, our buyers owned a small business and their main customer went bust just before exchange, they had to pull out.

[scurryfunge]

Catherine, I was aiming comments at house buyers. I was a vote stay but you have to make the best of a bad world. My DH's company is European owned and we are worried but not panicking.

[CatherineDeB]

But if we were a house buyer we would be pulling out, not because we are panicking, but because our income is no longer certain post 2017. Relocation is now on the cards for us. It is not possible for us to make the best of a bad world, or pay a mortgage without an income.

Ironically, as it stands, we will be probably be looking to relocate somewhere within the EU as the likelihood is that a job offer will emerge from there.