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Due to exchange contracts today....the buyer pulled out yesterday.

(14 Posts)
LivinLaVidaLoki Tue 29-Nov-16 07:02:48

We are selling my deceased mothers house. Basically the buyer lied about their buying position. Said they were a ftb but we're actually a buy to let landlord. They called the estate agent to tell them the purchase was dependant on another sale(despite saying they had no chain at the start) and that sale didn't happen. But they can still buy it at 20k under the asking price. Estate agent said no. She reckons they've been dragging it out purposefully (accepted their offer in August searches came back fine at the back end of last week they were ready to send contracts back) so they could come in with a lower offer and expect us to take it. Nightmare. Am now worried we'll lose our dream house.
But tbh I just want it over. Just want everything done and dusted and a new start x I've had a year of dealing with moms illness, months of dealing with the shit comes after someone dies while trying to cope with losing her and I just want it all over.
Luckily there are other buyers interested so that's something I suppose.

Chottie Tue 29-Nov-16 07:05:20

We were in a similar situation when selling DM's house.

Looking back, I think the buyer just wanted us to squeeze us into selling at a lower price. I just told them (via the agent) to either sign on the dotted line or the house goes straight back on the market.

They signed. Good luck and stand firm.

JennyOnAPlate Tue 29-Nov-16 07:07:01

I'm so sorry for your loss livin flowers

Are the vendors of the house you want to buy willing to wait (especially if you tell them you have lots of other interest)?

LivinLaVidaLoki Tue 29-Nov-16 07:16:44

I hope so jenny going to call them today.

YelloDraw Tue 29-Nov-16 07:42:09

Oh what a bad thing, such cunts to do that the day before exchange.

BigGreenOlives Tue 29-Nov-16 07:43:37

We had the same behavior from my father's vendor (attempted 25% drop). We held firm, put it back on the market the same day & they then paid up the full amount.

SimplyNigella Tue 29-Nov-16 09:41:46

I'm hearing stories like this more and more, usually the buyer ends up paying the full price if the vendor stays strong. Good luck!

CocktailQueen Tue 29-Nov-16 09:44:09

Stay strong! We had just the same when dh was selling his mum's house last year. The buyer was a BTL landlord. He dragged his feet and dragged his feet and in the end dh had to say, if you don't exchange by X date, the sale's off. He exchanged. People just try it on, sadly. Good luck with getting another buyer flowers

Scrumptiousbears Tue 29-Nov-16 09:51:12

Cheeky fuckers. Good luck.

LivinLaVidaLoki Tue 29-Nov-16 12:41:16

Well, the plot thickens.
The "sales progression team" have called me to let me know that she has been on leave for the last two and a half weeks but while they have been off the solicitor at the bottom of the chain has confirmed that everything is now satisfactory for the lenders and have completed the purchase of our buyers property, so, while the exchange date is later than planned, we should be all systems go now.

I said "Thats weird, the branch called me yesterday and told me her sale had fallen through, and so she could no longer afford what was offered".

The sales progression woman then called me back and said she had called the branch and they confirmed that she had been in touch yesterday and confirmed that the sale at X Property had fallen through and so she could no longer afford my mums. The sales progression woman is confused as the sale that she had been chasing was for a different property, so she said maybe the sale is still on and does she want me to cancel the viewings shes got booked in for today/tomorrow?

WIBU to say no, go ahead and if someone else purchases then sack her off, because tbh she lied at the beginning of the process, my solicitor has never been able to get hold of anyone at her end, and tbh the whole thing feels dodgy.

Chottie Wed 30-Nov-16 07:36:16

OP - go ahead with the planned viewings. You can't put your life on hold, whilst the original purchaser is shillyshallying around.

Scrumptiousbears Wed 30-Nov-16 18:31:33

I agree. Let others view and if someone offers and you are happy then carry on. Can't stand chancers and time wasters.

ElleMcElle Thu 01-Dec-16 14:37:53

How much later is the new exchange date? I would let the viewings go ahead and at least find some reassurance in the fact that there is clearly lots of other interest. That might stop your buyer messing around. They do sound dodgy, but if you accept another offer now, you'll be back to square one with surveys etc. If you can still exchange contracts with the buy to let landlord asap, I'd do it - but I would be nervous of pushing the exchange date back by too much. The 'sales progression' team really should have had someone monitoring this process while your main contact was on holiday...

Scarydinosaurs Thu 01-Dec-16 14:41:17

Absolutely go ahead with the other viewings. The person purchasing sounds dodgy as hell.

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