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AIBU?

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Original poster

To pull out of house purchase

61 replies

Bluewhoglue · 13/10/2024 10:03

We had an offer accepted on a house in September.

Things are progressing but we have noticed a number of houses that have appeared on the market in the past 3-4 weeks which has made us question our decision as these houses are similar to our house but are slightly cheaper or a similar price but in better condition with more parking. We put it down to nerves and have continued our purchase.

However, a house has popped on the market and we are really having second thoughts. We think it would be a better fit because it has downstairs bathroom, 2 of the bedrooms are bigger (we'd get an additional 6.5 sq feet), the downstairs is larger, and it is much closer to schools.

It would come at an additional cost (£20k) but we could swing it, however I am concerned about the affect my decision will have on the seller.

what would you do? I have yet to make an offer so this might be moot.

Would it be reasonable to make an offer and see what happens?

OP posts:
outside1inside · 13/10/2024 10:06

This is probably the most expensive thing you will ever buy. You need to make sure you buy the right/best house you can.

Funderthighs · 13/10/2024 10:06

Don’t. When we had an offer accepted on a house, we stopped looking. Our buyers have just pulled out of our sale, just as we were about to exchange contracts. I have a very low opinion of them.

Brombat · 13/10/2024 10:09

Shitty thing to do but if you do pull out, do it now, not down the line.

It happens all the time. Best thing to do is not look at other houses.

2kbak · 13/10/2024 10:09

You can't go through with a house purchase out of guilt.

We have a poor system in this country and you'll have to do what's right for you.

greenjojocat · 13/10/2024 10:09

It's going to be frustrating for them but you can't buy a house to please someone else

Pieandchips999 · 13/10/2024 10:09

All you know at the moment is the asking price. You don't have any knowledge of the vendors. It could be a difficult probate sale or an entrenched divorce or a problem neighbour. You don't know whether it will go over asking. So you need to think about how you will feel if you end up with no house. I'm assuming you don't have anything to sell. If you are going to pull out you should do it promptly so your vendors can look at remarketing. I feel very sorry for them as they marketed at a good time to sell and they'd be bald to square one

Brahumbug · 13/10/2024 10:10

People get so precious over house sales 🙄. If a new one has come on the market that suits you better, then go for it. Simple as that.

Dulra · 13/10/2024 10:11

It's a risk though how do you know you will definitely secure this other house? You could end up in a bidding war and it goes for way more. As long as you think pulling out but not necessarily securing the other house is ok I wouldn't. But if you are falling out of love with the house you're buying that's something different

HavfrueDenizKisi · 13/10/2024 10:11

Go and view the other house and I'm afraid, if you prefer it, you must go with the right house for you. Even if that means pulling out of your original house. It doesn't matter whether people say it's shitty and you should stick. This is a huge purchase and you could be living in this house for years to come. It has to be the right decision. And that is how the English housing market works. Until exchange, anything can happen.

You will, however, incur more costs with your conveyancer as they will have been partway through the process with your original purchase.

TiramisuThief · 13/10/2024 10:15

View the new house ASAP and then make a decision.

Yes it's a bit shitty but better now than two months down the line

PollyPeep · 13/10/2024 10:15

I don't think it's a simple decision. You don't know what the chain is like on the other properties. Those sales might drag on for months, or the chain may fall through, or they might go over asking if they're genuinely better than the one you've offered on. Maybe better to stick with the one you've offered on and that you know is a sure thing, rather than get stuck with no house at all.

BabyCloud · 13/10/2024 10:15

Go view them. The last thing you want to do is buy a house you may regret.

Barrenfieldoffucks · 13/10/2024 10:16

If the offer was only accepted last month you're not that far along. Gutting for the seller, but hardly the day of exchange.

DogInATent · 13/10/2024 10:17

I am concerned about the affect my decision will have on the seller.

You're buying a house, not making a friend. Do what's right for you.

Its not uncommon for offers to be withdrawn after they've been accepted, and in England the system put no penalty on it - it accepted as a risk in the process. Often it happens once the survey is seen by the prospective Buyer, sometimes it's because there's a change in circumstance affecting either party.

You may have incurred costs with conveyancing or even survey, but just because you're down a couple of hundred quid isn't a reason to proceed with a purchases worth a couple of hundred thousand quid that will make you unhappy.

Dotto · 13/10/2024 10:19

You don't owe your sellers anything. They will need to revise their price anyway as the market has changed. Life is too short to go through with it, if it's not right, just because you don't want to upset someone. Such is life. Sellers should know there are no guarantees in the English conveyancing system.

namechangetheworld · 13/10/2024 10:20

Funderthighs · 13/10/2024 10:06

Don’t. When we had an offer accepted on a house, we stopped looking. Our buyers have just pulled out of our sale, just as we were about to exchange contracts. I have a very low opinion of them.

Are you saying the OP should martyr herself and spend hundreds of thousands of pounds on a house just to keep a stranger happy? Come on.

Of course she should pull out if she's having doubts. She owes them nothing.

Wellingtonspie · 13/10/2024 10:20

Meh it’s not a £10 jumper is a bloody house. You buy the one you want you don’t stick it out because you might feel bad that they need to find a new seller.

Guarantee they don’t feel bad for making a nice profit out of you for the difference between their purchase price and what they where about to charge you

DuringDinnerMints · 13/10/2024 10:20

Someone did this to us when we sold our last house. We accepted their offer but they continued to view other houses. We then had to pull out of our purchase and our vendor had to do the same. It fucked things up for a lot of people in the chain. It's a stressful time and it was a real dick move by them. I honestly don't think I could have that on my conscience.

AntiHop · 13/10/2024 10:21

Would your buyers wait for you?

DogInATent · 13/10/2024 10:22

Funderthighs · 13/10/2024 10:06

Don’t. When we had an offer accepted on a house, we stopped looking. Our buyers have just pulled out of our sale, just as we were about to exchange contracts. I have a very low opinion of them.

I'm sure your low opinion of them keeps them up at night...

Lavender14 · 13/10/2024 10:24

I agree with others that its way too big and expensive a commitment to have doubts over. You should view the other house and if you love it more then pull out. You've no guarantee you'll get it so you need to love it enough to be prepared to risk losing both over.

If you decide to go ahead with either house you need to stop looking at properties online and commit to what you're buying. Otherwise you're just torturing yourself.

Frenchvocab · 13/10/2024 10:26

What if you do and then a better one than this next one comes up

Funderthighs · 13/10/2024 10:30

DogInATent · 13/10/2024 10:22

I'm sure your low opinion of them keeps them up at night...

Show quote history

You’re absolutely right ofcourse but I’m allowed to feel aggrieved I think? 🤣

UpstartCrows · 13/10/2024 10:30

Don't buy it, pull out now.

This is the biggest purchase you'll make. If its not 100% what you want then you could end up spending thousands trying to get out of a wrong decision.

Take emotion out of it and do what is right for you. People who say they'll have a low opinion of you are only sore because they aren't getting what they want. You need to do what's right for your family.

Its purely a financial decision at the end of the day. Take emotion out of it.

Begaydocrime94 · 13/10/2024 10:30

Funderthighs · 13/10/2024 10:06

Don’t. When we had an offer accepted on a house, we stopped looking. Our buyers have just pulled out of our sale, just as we were about to exchange contracts. I have a very low opinion of them.

I’m so scared this is going to happen with mine just as things are inching towards exchange :( I don’t know why just it’s quite common