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Argh! Buyers have pulled out!

(8 Posts)
Dillydollydaydream Fri 23-Sep-11 11:23:06

Just got a call from EA. Our buyers have pulled out. Apparantly they have split up.
We accepted their offer a month ago, they were uppity from the off wanting to know if we'd found anwhere to live as they wanted to be in beginning of October.

In the end we decided to rent to appease them and speed things along a bit.
So we paid application fee and holding deposit for a rental property.
Things had been very quiet the last couple of weeks, no survey taken place despite the buyers wanting to be moved in by begining of October!

So now we have no buyer and have lost money on the rental property!
Our estate agent has advised us to reduce price to hopefully get lots of interest but not sure how long it will take to sell so have had to pull out of the rental.
Really gutted!

lalalonglegs Fri 23-Sep-11 11:26:45

I'm sorry. I wouldn't reduce the price unless you had been hanging around for ages waiting for that offer. Get the agent to arrange an open house to drum up some interest.

Becaroooo Fri 23-Sep-11 13:40:09

Really sorry sad

Did you get much interest at the price it was on for? If so, leave it. If not, reduce.

Dillydollydaydream Fri 23-Sep-11 13:42:01

Yes the open house sounds a good idea. I'm a bit baffled why they suggested price reduction as we had interest before the offer.
Bit angry that no one told us they'd pulled put EA only found out after contacting mortgage advisor to query lack of survey. They were then told they were no longer perusing the purchase!

Dillydollydaydream Fri 23-Sep-11 13:45:21

Just looked. House on Rightmove at proposed new price?!
Hopefully we'll find another buyer but not holding out much hope this time of year.

FootballFriendSays Fri 23-Sep-11 14:13:42

Horrible. It's happened to us and it's awful. I hope you'll get a serious buyer next. (After one year and three goes, we're finally completing next Friday.)

Dillydollydaydream Fri 23-Sep-11 14:35:01

Oh god. 3 goes? sad
Not sure I could go through it again. So stressful!
Hope all goes well for you this time.

FootballFriendSays Fri 23-Sep-11 20:29:42

Thanks, Dilly. We exchanged last week and completing next weekend. It's been stressful, time consuming because of timewasters (including couple who pulled out 2 days before exchange) and we find ourselves now having to move house after the schools have started and no school lined up for the DDs. It's horrible and the high of getting to this stage doesn't quite compensate for all the lows of the process to get here. Good luck to you too.

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