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House Chain collapse!

(9 Posts)
Jancol18 Wed 19-Feb-14 14:26:25

When is the UK going to sort out our miserable Buying n Selling system! We signed yesterday to exchange contracts...our Buyers decided to defer until the 10 th March holiday in two days time...day after completion...they knew this from the get go! Decided against leaving the property empty, said insurance would be high....risk of squatters....their friends live 4 doors away! Emotions are raw right now....our stuff is in storage..dog in a Kennels , pure luck the dog was not on transport bound for Spain! We are now going down the rental road......a handshake and word was given....what was that worth.....is there a Lobby Group I wonder to get the system changed?

mrsnec Wed 19-Feb-14 14:39:07

I feel your pain and if I knew of such a group I'd join too. Our house sale has fallen through 6 times now!

I don't live in the UK now but here. You pay a 5k deposit when everything is agreed. If the buyer doesn't stick to that the seller gets the cash. It's a great system.

Jancol18 Wed 19-Feb-14 14:51:19

Thank you......as I sit here in our bare home....phone being disconnected tomorrow....Mail is redirected...worse things in life but, how these people rest easy is beyond me! Our system is a joke.....yours sounds slightly better........hope you got the cash!

mrsnec Wed 19-Feb-14 15:10:36

Sorry to hear about your situation. Sounds crap. No its our ul house that keeps falling through so no we didn't get any cash but I think the deposit idea is something that would help the uk system. I hear of too many people getting messed around and think something needs to be done.

PattyMcGinty Wed 19-Feb-14 15:12:17

The problem is not in the UK OP. The problem is the English system.

The system in Scotland works very well thank you.

LondonGirl83 Wed 19-Feb-14 15:14:11

Hi I feel for you but I'm not sure what happened. Did your buyers decide to push the completion date so you are stuck with double mortgage?

ohhifruit Wed 19-Feb-14 15:22:07

I'm sorry to hear about your situation, I don't envy you one bit.
How many people were in the chain?

HaveToWearHeels Wed 19-Feb-14 15:25:09

OP same as LondonGirl83 don't understand your post at all sorry.

Jancol18 Wed 19-Feb-14 15:34:39

Two in the chain...we are Sellers..they are cash Buyers....date was agreed by us both on Offer due to them going on holiday on the 22 nd.....neither of us have a mortgage....retirees.

Sorry re including Scotland.........least of my sane rationale at this moment in time as I sit here crying.

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