AIBU to drop out the day before exchange of contracts?

[Ginandtonics]

House purchase going on for so long we are starting to feel that with prices appearing to fall round here we are paying too much. We just discovered there's very likely to be a lot of nearby building work close by (which didn't show up on the searches) which will create dust and involve the loss of a lot of nearby trees. The house is expensive and maybe not 100% right in many respects but we do like it, although perhaps have some reservations about the area. Afraid we may be making a mistake, in normal circumstances we could just move again in a year or two if we weren't happy but in the current situation, which is increasingly looking like there'll be a significant economic downturn, that might not be so easy. It was advertized as chain free, and we aren't selling until after we move so not a long chain but still feel very uncomfortable dropping out last minute. We are due to exchange in a couple of days time, AIBU walking away?

[DorisDances]

Thanks for the update op

[AnnaBanana333]

I think you should treat people how you want to be treated.

[HeyMaCorona]

Please don't. We r moving in a couple.of weeks. If my buyers did this to me now it would destroy me. We've waited months already and are so close. We r relying on this move. Please don't :(

If you r my buyer - especially please please don't do this.

[HeyMaCorona]

Just realised this is an old thread so you r thankfully not my buyer. I hope this never happens to you.

[WanderingMilly]

If it doesn't feel right, it isn't the right house....don't get caught with a place you don't want.

Yes, it's awful to pull out at the last minute, and yes you'd hate it if it was the other way around but all the same, you aren't committed until exchange and you really don't want to be saddled with a place you will forever wish you hadn't bought after all.

Think about it carefully, do what you have to do.

[IwishIhadaMargarita]

@Mydogmylife in Scotland you can still pull out bevies the co tracts are finalised. It’s a misconception that you can’t. My friend had someone pull out three weeks after putting in an offer which meant she had to go back on the market. The is why it says ‘sstc’ sold subject to contract it can still fall through.

[TimeWastingButFun]

I would say YABU for stitching someone up at the last minute like that, except for the fact that you had the searches done in good faith and a deal breaker like this wasn't picked up. Someone is at fault and I don't think it's you, so this does change things considerably with building work and loss of green space around you.

[Thelittleweasel]

@Mydogmylife

Absolutely - what a silly system we have. I got quite excited [way back] when the idea was that the buyer got all the documents together so that the sale could be quicker.

[Moomin12345]

You know what people are going to say, do whatever works for you.

[NothingIsWrong]

I pulled out the day we were due to exchange when new information came to light very late in the process. No guilt whatsoever.

[Wheresthebiffer2]

Back in the 2008 financial crash, our buyers pulled out at the last minute. It was another 6 years before we finally were able to sell it. Extremely frustrating at the time, but we understood their reasons - the uncertainty etc of the economy, and just had to get on with things.

[CHIRIBAYA]

A great example of why moving home in this country is an absolute nightmare and English house buying legislation needs a radical overhaul!

[Ginandtonics]

Since pulling out prices have skyrocketed round here, the sellers will be fine. Yes, have had it happen to me and worse. Found out since that there were indeed some issues that we had suspected but not had firm evidence of, as well as the planning that went through just after we had done searches. The seller themselves actually called a halt on the day of exchange and then stopped for a fortnight to tie in an onward purchase which they denied at the time but only came to light later, had they not done that we'd not have discovered the planning issues in time to withdraw. There were a lot of things that made us uncomfortable, mostly, I think, a breakdown of trust. It's a horrible business.

[ECBC]

As someone who has pulled out of a house purchase before (not at the last possible moment and with good reason), only you can know if you are making the right decision.

[fairlyplump]

Its a shitty thing to do , but its a big purchase if your not 100% sure.

[thedancingbear]

It's a cunt's trick. Don't be a cunt.

Just because it's legal doesn't mean its moral.

[cyclingmad]

@Ginandtonics I think you got a lot of flack for no reason you made it clear in an update that the planning application went in after your searches and you only found out because you decide to check again which most people don't.

Sorry but I wouldnt be willing to buy a house and move in with that big a risk of having to live with building works for years.

As it turns out it was a blessing in disguise as your seller was playing their own game.

[cyclingmad]

People should note this is an old thread too

[dobbyssoc]

Personally I'd be gutted and fuming if you pulled out at the very last minute. If it's been going on so long you should've done it before now not wait until this point!
However I also feel like you're having that last min panic that everyone moving gets

[TheRealHousewife]

If you’re having serious founded doubts pull the sale. You’ll regret if you don’t. It’s a bit like a marriage .... those who consider jilting at the alter and don’t regret it.

[Backtoschoolwhen]

Zombie thread which OP has updated to say they WITHDREW & did not proceed

[Deadposhtory]

Pull out. I've done it before and not regretted it

[cyclingmad]

@Backtoschoolwhen they just dont even read

[AuntyRigsby]

Definitely not unreasonable. Everyone is free to walk away until they are committed by a contract. That's the point of the contract.

[Backtoschoolwhen]

@cyclingmad 🤦🏻‍♀️😂