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Pulled out of house purchase

(11 Posts)
Yorkshirelass2016 Tue 25-Oct-16 07:51:43

i know it's contoversial but we have pulled out of house purchase and feel completely stressed out by the whole experience.

We are also in process of selling our house. So this has turned into a really difficult situation.

Our vendors kept renegotiating the price and cost of fittings within the house, such as lights and carpets which they didn't tell us up front. We ended up paying more then we wanted to to secure the house but tried to look on bright side as much of our list of 'must haves' was covered however we then found out that a new housing development was in the process of final approval right next to our house and running the risk the views we were buying would be no more. Therefore after much anguish we have pulled out. However I could really do with some advice from anyone in the same situation. My partner is now saying due to whole experience he doesn't want to buy another house and just rent forever. I'm just at my wits end, I never wanted to pull out. But it felt like it was the right decision now it just seems to have made everything worse. What do we do now ? Cancel the sale of our house or delay it ? What did you do if you have beeen in same situation ? X

Ifailed Tue 25-Oct-16 08:02:14

Sounds like your Vendors could easily become a royal PITA, add that to the new housing development that I assume you didn't like, then why not pull out and look elsewhere?
As to not buying - I don't understand; if you are in the lucky position to afford to buy, why would you throw money away on renting?

sm40 Tue 25-Oct-16 08:05:00

It sounds like a lucky escape. Hopefully the housing gods are on your side and your perfect house comes up for sale this week. As previous poster said if you can afford to buy I would do! Good luck!

bibbitybobbityyhat Tue 25-Oct-16 08:07:20

Of course you feel stressed but you've had a lucky escape with the housing estate! I would carry on with your sale, rent for a year, watch house prices fall, start looking again next Summer when you will be able to buy from the advantageous position of being at the start of the chain and only handling one transaction.

Hs2Issue Tue 25-Oct-16 08:07:22

We pulled out of a house purchase earlier this year (due to Hs2 changing route and negatively impacting house price, ruining views, building works etc). We lost some money but decided it wasn't worth the risk of our dream house turning into a nightmare.

However, we did move to a different house 2 weeks ago which is in a better location, better plot and schools - ok does need a load of work on it but doesn't phase me too much.

It did take us a while to look again after pulling out but the reasons we were looking initially were still true - we'd outgrown our old house and wanted somewhere more rural. Take some time to recover before you start looking again.

minijoeyjojo Tue 25-Oct-16 08:19:24

That sounds really stressful, I think I'd have done the same. I understand how your partner feels, but I suspect it's just a knee jerk reaction and that he'll come around to buying again.

Personally I'd continue with the sale of your current property if you are happy with the price. The market isn't great at the moment so I wouldn't want to lose a good buyer. Have a look at houses to buy, but don't rush. Worst case scenario rent for a few months to allow you to find another house. It'll also put you in a fantastic position for negotiating not being in a chain.

elfofftheshelf Tue 25-Oct-16 13:09:21

It's a stressful process and I can understand why your partner feels this way. But you've also done the right thing and wouldn't want to be living amongst a building site for years with no views at the end of it.

I suspect once they've put some space between the process you've been through and the reality of renting, your partner may feel better placed to start looking at buying again. As others have said, take some time and maybe start to look again in the spring? If you are chain free buyers with a good deposit you'll be great buyers. Good luck!

Cherylene Tue 25-Oct-16 13:16:28

Get out there and start looking.

Most people find a much better house grin. I think it focusses your mind on what you want and what to look for.

(ps the vendors were unwise to faff about when they were obviously moving to avoid the housing development hmm )

cheesymac Tue 25-Oct-16 13:19:21

I'm sure you've done what's right for you and maybe the vendors will learn not to be ass pains some lessons.

Yorkshirelass2016 Tue 25-Oct-16 16:07:48

Thanks ladies. Just very stressful situation he's agreed now thankfully to look for another house so we are going to do that. We should find somewhere. Just always believe what will be will be and as soon as we saw the size of the development and the fact there's is literally just one road to support it. I just don't think it's going to be right for us. We will find something else. Good to know other people have had to make tough decisions like this but it's worked out in the end. It all seems very dark and like the walls are collapsing of your life when you first make the decision not to go ahead. I know I should feel more for the vendors, but they pushed and pushed to get every last penny from us and had us over a barrel. If they had been nicer people I don't know if we would have done it, but as it was didn't mind changing our mind over it x

HarryPottersMagicWand Tue 25-Oct-16 21:07:13

We pulled out of a house purchase, good size house, massive garden, dirt cheap, next to relatives and I always said if it came up for sale I'm would buy it. It came up for sale exactly when we were looking to move. But we didn't go ahead.

It would have cost a fortune to do up, was a non standard construction that is only going down in price and quite far from schools with nightmare traffic to get through. We pulled out and bought a bigger house, near school and no where near as much work. So much happier and so relieved we didn't go ahead.

Everyone I've read about on here has always gone on to find a better house so I'm sure you will too.

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