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Flippant buyers(18 Posts)
My house has been on the market for 3 weeks and in that time I’ve accepted 3 offers from 3 different buyers who’ve all come to nothing.
1 removed their offer after 2 days, 1 didn’t produce any proof of funds or solicitor details and 1 has disappeared off the planet after submitting the offer.
Anyone else finding it’s quantity over quality with viewings at the minute or is this normal to be messed around like this?
I thought problems were ment to happen further down the process.
First time seller
I dont think its usual for buyers actually to make offers then vanish. But it's quite common for them to say we're ringing the estate agent right away with our offer and this is our dream house. Then tell the estate agent they didn't like the house and it was entirely unsuitable.
We had an offer then just dissappear off the face of the earth recently. Its so weird.
We are getting fed up with the viewers who don't look at a map before viewing and then say they don't like the area.
Are they first time buyers? I find those a little random at times.
One was a first time buyer, the other 2 were couples in their 50’s with high cash amounts.
I’m glad I’m not the only one then.
A friend of a friend has just said they’ve put their house up for rent instead as they’re sick of being messed around. I’m guessing uncertain times at the minute might play a part
I'm on my third buyer after going on the market in February. Had three offers then after a couple of days on the market. Went with a first time buyer with 60% LTV on £275k. He had a home buyer survey, got his mortgage offer and made his enquiries, pulled out in April due to covid job concerns (well, dropped his offer by 100k then pulled out when I laughed at that) Put the house back on the market end of May when things restarted, accepted an offer same day from a middle aged woman £262k. She had a full survey with no issues, did her searches and enquiries all proceeding for 5 weeks then she decided she didn't like the road. Now on third buyer, FTB offered 265k beginning of July has had mortgage valuation and if this doesn't happen I will take it off. Strangely, both FTB were keen to have all the furniture as part of the deal. Never known that before. Each time the house has had a glowing survey no problems.
The market where I am is forcing this kind of flippancy as property is selling so fast. If you don't offer on the day of viewing you are too late so there is a trend for people offering early then thinking about whether they really want it or not afterwards. We are trying to buy and have found this has happened a lot - people making big offers to 'secure' the property and then pulling out once they've had the luxury of time to consider it knowing no one else can view.
I think It seems to be a buyers market despite the stamp duty break.
With restrictions on mortgages and larger deposits now needed along with job losses it’s harder to find “decent” buyers
I could be wrong here just speculating, just want someone to stick by their offer or at least spend some money on a survey ggrrrrrr!!
Yes this has happened to us recently.
One couple viewed 4 times, said they wanted to make an offer and then didn’t (fine - just don’t say you’re about to and don’t make me tidy up 4 times!). One couple saw it 4 times, offered and negotiated and made an offer, we accepted. They disappeared off the face of the earth. 3rd couple saw it 3 times then made an offer £150k below asking price and said it was “very lucrative” for us as they wanted to move in within 2 weeks! We laughed at that and declined their lucrative offer. We’re now on couple number 4 who actually made a good offer and seem really keen - but they lied to the estate agent that they were proceedable and it turns out their house wasn’t even on the market at the time they offered. I’m getting totally fed up.
@MrsTWH you win!!
I can handle the disappearing bidders but tiding up 4 times for one cf........nope!
I have toddlers so their toys and high chairs get crammed in our cars for viewings
This has happened to us too! We felt our buyer just offered to secure the property and then was trying to decide whether they actually wanted it or not. After some extremely bizarre behaviour and no commitment we are now approaching other potential buyers.
Extremely frustrating and has wasted everyone's time.
My cousin has had this issue. Her 3rd buyer pulled out on Friday and she's got more viewing today so fingers crossed. but this is nothing new. When my dad sold three years ago it went under offer three times - the first one just disappeared after bringing three thousand people round on 6 different occasions, second couldn't get a mortgage, the third bought it but tried to gazunder on the morning of exchange (after claiming he was cash buyer and then taking ages to get two mortgages - one for the house and one for a flat he already owned for the deposit).
So yeah people are horrid. Good luck with it! it will sell and this will be over eventually!
Glad we are not alone in all this. We were fretting over ditching our buyer, but based on the above it seems to be a common problem at the moment. There were red flags all over the place.
They should really bring in some sort of nominal security deposit (£250 or so) if your offer is accepted on a place. Maybe it would stop a lot of this "offering to secure the property, but then flaking out" behaviour.
@thekaratekid i think the scottish system is so so much better
As a buyer in this market... we recently retracted an offer purely based on the agents playing games.
We loved the house and they said we had to make an offer the next day as the sellers had multiple on the table and were making an decision the following day.
We did and then heard nothing, after two days I smelt a rat and called their bluff to retract as I felt we played into them and offered too much... low and behold.. house still on the market and non of these mysterious other people have had their offers accepted.
@thekaratekid I agree with that. Change the system and it might change peoples actions.
Having to put so much faith and money into a stranger, no wonder it’s stressful
@Bells3032 thank you, I hope so 🤞🏼
Fingers crossed for your cousin too
I am both a buyer and a seller and find this shocking! We are selling my late father's property, and also because of this are looking to move ourselves. I have viewed properties despite not yet being able to make an offer, as our deposit would be tied up in my father’s property with the associated estate. I just wanted to start looking so I knew what was out there, but have been honest about our position. I can’t believe people make offers then disappear!
Incidentally, despite our estate agents being confident the property would sell ( true bungalow, driveway and garage, quite rare in our area ) we’ve only had 4 viewings since June and no further interest 😕