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Buyer has pulled out on exchange day. Can't breathe.

(579 Posts)

MNHQ have commented on this thread.

Spuddington Fri 12-May-17 13:02:56

Well bollocks.

Sold our house to a cash buyer at a huge discount (there's a lot of work to be done). He's dicked us about from the word go. Tried to push us to find a property asap, suggested we move into a fucking hotel. Really pushed.

We found our dream property and had our offer accepted. Great vendors. Still it wasn't enough but we didn't want to lose our sale so put up with the bullying. Our buyer wanted to come in and renovate before completion, we said no. He sent builders round who weren't happy at being told they couldn't come in and start knocking things down. He's a nightmare.

So we've done our best to rush things along for the sake of the sale and today was exchange day. Got to solicitor and found out our buyer had pulled out this morning. Apparently it took too long (2 fucking months from offer to exchange!!) so he's no longer interested.

I'm now sitting at home hyperventilating because we're going to lose our dream home and we've lost so much money on fees and searches. Property on this street doesn't sell so there's no chance of finding a new buyer quickly. I'm heartbroken.

Someone please tell me it will be ok.

WellErrr Fri 12-May-17 13:05:39

What a twat.

I'm so sorry OP

CoperCabana Fri 12-May-17 13:06:18

I am so sorry. I have no advice but didn't want to not reply. Hope someone more insightful than me comes along soon.
flowers

worridmum Fri 12-May-17 13:07:33

This is were the Scottish system is better as legally you can get those extra costs back from the person withdrawing from the sell

SquatBetty Fri 12-May-17 13:08:06

I have no advice either but you have my sympathies and what an absolute cunt your buyer is.

dustmotesinthesun Fri 12-May-17 13:08:15

I'm so sorry. What an absolute arse. Could you offer him a further discount to entince him back, not that I'd remotely want to.

Goldfishjane Fri 12-May-17 13:09:20

I'd like to do a very large AAAAAAAAAAAAAAAAAARRRRRRRRRRRRRRRGGGGGGGGGGGGGGGGHHHHHHHHHHHHHHHHHH

on your behalf.
what an asshat.

Spuddington Fri 12-May-17 13:10:56

I don't think a discount would help. It's all a big power trip to him I think. He wanted us out the day we accepted his offer. He wasn't even going to live here, he was going to renovate it for his daughter to live in.

It probably means nothing to him but my tiny family are stuck now. Utter wanker.

BellMcEnd Fri 12-May-17 13:11:01

Utter fuckwit. Buying and selling houses is an absolute bloody nightmare.

iMatter Fri 12-May-17 13:11:10

I bet you he'll come back with a reduced offer if you exchange today.

What an arse OP. It's utterly shit when this happens.

Namechangearoo Fri 12-May-17 13:12:02

I hope you don't find this twee, but there's that saying: what's for you won't go by you.

A similar thing happened to us, and we lost that dream home. There isn't a word for how I felt that day - I cried and cried and still think I have a scar on my heart for it now (I realise how pathetic that sounds and how lucky I am to have such a small problem in the grand scheme of things). 4 months later we were able to buy/move into our current house and I simply can't imagine being happier.

There are other houses, you will find one and love one again, just like someone else will find your old house and fall in love with it.

Until then, there is gin.

flowers

BellMcEnd Fri 12-May-17 13:12:03

Are the vendors of the house you're buying reasonable? Do you think they might hold off remarketing for a while?

AnnetteCurtains Fri 12-May-17 13:12:30

I'm so sorry
Some people are just evil bastards

Gobbolinothewitchscat Fri 12-May-17 13:13:24

Just awful. Logically, this doesn't make sense. It will take him a while to find somewhere else and do the conveyancing

Rather than sending emails etc, I suggest your solicitor picks up the phone to his solicitor to see if this is a fit of pique or salvageable.

mummyretired Fri 12-May-17 13:14:00

Sympathies. On my last move, the vendor tried to gazump me on exchange day. Eventually, she proceeded at the original price plus kickback from the EA and my purchasers.

Could he be bullying you still, and trying to get the price down? It doesn't sound as if it's in his interests to pull out. Wonder if he actually has the cash?

AhAgain Fri 12-May-17 13:14:02

Oh that is utter crap - I am so sorry flowers

My only advice is to:
- let the people you were buying know, straight away. Say that you still want to buy and will they give you some time please.
- go straight bank on the market TODAY. I know you said that your street doesn't sell, but you never know! Go for it.

Don't have any contact with your buyer: he is a shady business man and sounded like trouble from the start confused

Goldfishjane Fri 12-May-17 13:15:06

oh yes - he might come back in with a reduced offer later today....

better think what you'd like to do if that happens OP. I'd say no myself but that's just me.

feathermucker Fri 12-May-17 13:15:09

All I can offer is sympathy. How horrible for you flowers

PollytheDolly Fri 12-May-17 13:15:12

Bastard! angry

Sorry OP. I hope you still get your dream house x

Spuddington Fri 12-May-17 13:15:14

Vendors are lovely, I called them when I got in and wept down the phone to them. However they're retiring and downsizing so they can't wait. They're going to give us 4 weeks before it goes back on the market. Once it goes back on it'll go so fast, we put our offer in the day it went on the market the first time.

I will say they are the nicest people ever. They've offered to bring us a bottle of wine tonight and help us work out what to do. Which made me cry more.

Goldfishjane Fri 12-May-17 13:16:29

OP that's nice of them
real issue is, are they in a chain, where are they moving to and when did they want to go?

SpuriouserAndSpuriouser Fri 12-May-17 13:16:42

It will be ok flowers

That is shit. So, so shit and the buyer sounds like a complete wanker. BUT things will work out, you will find a lovely home, and one day this disaster will all be an insignificant memory.

Usernameofawesomeness Fri 12-May-17 13:17:22

What absolute asshattery. Wishing you a decent buyer very quickly op. Get your estate agents to relist immediately.

Spuddington Fri 12-May-17 13:19:41

They're moving to a new build in an over 55's complex. They need to money from the sale to purchase it outright, they're ready to move. Not sure how long developers give people to complete purchase of new builds?

Eyerolling Fri 12-May-17 13:19:50

Would they consider buying your home (home swap) or have they also found somewhere?

Also, if there is a new build house being bought in the chain, sometimes the new build company itself will buy a house in the chain to avoid it all collapsing. This happened to a friend and Barrats (I think) stepped in and bought it.

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