To pull out of house sale?

[EmM300725]

Hi all,

looking for some advice! We had an offer accepted on a house back in December, sellers are still to find somewhere. Nearly 6 weeks later and no real development. Our seller has said she has looked at everything in her budget and cannot find anything suitable - she’s selling due to divorce and doesn’t have many funds. She offered on something 3 weeks ago, offer was rejected and she could not increase. She’s now offered on somewhere else but they are basically waiting to see if they get a better offer before accepting. They also need to find somewhere themselves. She’s also refused to move into rented or in with family and has said we just need to wait for her to find somewhere.

We had agreed to wait until end of Feb for her to find somewhere, before we start looking. However we have been contacted by an estate agent about a house we previously like which has gone back on the market - it sold before we could offer previously - this house has no onward chain.

We did go and view this house and we really like it, even more so due the fact it has no chain. Our buyers are FTB so it would hopefully go through quickly!

My question is, AIBU to pull out now, even though we said we would wait? To further complicate things, we have the same estate agent, so I don’t feel I can speak to them and get advice as they are working in both interests!!

Any advice would be helpful :)

Sounds like she is being very fussy and not quite ready to accept a less nice house/home post divorce. I wouldn't wait around for her to get her head adjusted to her new circumstances. It's a buyers market, just crack on and don't lose your purchaser.

As the offer was accepted back in December I'm guessing it's before Christmas so that's 6-7 weeks ish looking and presumably she was looking before that too. I wouldn't wait. Go for the other one.

Do you prefer the other house to the one you are buying?

Put everything else out of your mind for now and just think. If you were starting again and saw both houses, which one would you offer on? Which house would you want to buy?

There is your answer.

Just because the other house has no onward chain doesn't mean you won't meet complications but if you really feel the first house is where your heart is then you have to go with what you want and put yourself first.

Its a shit situation and no-one wants to do it, but needs must if house number one is the one for you.

Good Luck with whatever you choose to do.

I'd make an offer on another house and, if accepted, pull out of the previous one.

Apart from one question - why is the other house back on the market so quickly? You may need to do some due diligence on that.

Otherwise you're free to buy whichever of the houses you like - your buyers must be equally frustrated with the delays as well so bear in mind they might start looking elsewhere and you might lose your sale.

I don’t think she sounds fussy at all. She can’t help it if her budget only stretches so far. This is the nightmare of moving house.. everyone is at the mercy of other people circumstances

^ This, a good reply.

But, gawd, the house buying process in England is ridiculous and needs reform!

Years ago we were in the same situation. After 8 weeks of waiting the lady had not found anything so we started looking but didn't pull out till we had an offer accepted on another house. Glad we did (it was two years later that the first house sold, might have been other issues but it did seem mad). Do whats best. Dont rush into another house because its quicker but if its the right house dont hesitate.

Agree with this. It’s nothing to do with being fussy. It’s how the process works.

i think the big question is which house you prefer. I would go with that more than anything else.

It depends how much you like the second house compared to the first one. Why did it come on the market so quickly again?
I can understand why your original seller doesn't want to go into rental it's expensive and disruptive and I wouldn't want to do that either.
It doesn't sound to me as though she is being fussy she's just trying to find somewhere in her budget. Basically it is your decision but if you are going to pull out you should let her know quickly so she can put it back on the market,

DN has just bought from a divorcing woman who clearly didn’t have much appetite for her move. She has spun the process out in such a way that the whole thing took at least 9 months, maybe more.

If you are keen to get in then go with the other house if you really like it. You don’t owe the first person any loyalty.

However we moved last year and waited over two months for our buys and the buyers up the chain to all find properties and because we really wanted the house we waited.

What sort of reform would overcome this sort of situation?

She cant find anywhere to buy herself, not her fault.

DD had this last year. She was FTB, had an offer accepted but then the vendor couldnt find anything at the price she wanted to pay. Vendor messed around with promises about moving into rented/in with family.

Eventually DD gave up on it and found somewhere else and is now happily moved in. Original vendor wasnt happy and I'm not sure if she has actually sold yet.

It's a shame for your seller but you wouldn't be unreadable at all to pull out at this stage - the process has barely started.

I feel awful saying this, but you have to be ruthless in buying and selling houses, and if there's an affordable house you like that's available and chain-free I'd go for it. Unless you really, really prefer the one you're currently waiting for, in which case you have to play hard ball, and say you're pulling out if she doesn't vacate ASAP, and get a written agreement.

I would put an offer in on the second house. See what happens. I would have no hesitation in going for the second one if my offer was accepted. The first buyer could mess you around for months.

Pull out, she's messing you about.
Good luck with the other purchase.

When I was getting divorced I knew someone in the same position, who was having to sell the marital home and buy her own. She was just delaying - looking at unsuitable houses, making ridiculous offers which would never be accepted etc. She dragged it out for a couple of years and put her buyers through a load of hassle. Don’t get sucked into that sort of situation.

Yes, it's tricky, but there is so much that could be improved. For instance, sellers having to prove they’re genuinely able to proceed before accepting offers would help... but that's another thread.

How would she be able to prove to her seller that she is able to make an offer if she didnt have an offer on her own property. But she cant get an offer on her own property because she hasnt go somewhere to buy

No one would ever be able to sell

It works better the way it currently is, its just not foolproof.

First of all decide which house you ideally would be happiest living in.

If it’s the chain-free house, you should go for it - and just apologise that your first-choice house came back on the market, so sorry.
They will understand.

Perhaps it was a stroke of luck that she took so long!

You've got to look out for yourself in these circumstances.

Find out why the second house is suddenly available.
Keep your offer on the first house, but also look to see if there is anything else.

How far have you got with searches, solicitors etc? If people are really motivated to sell, they will do their best to move the sale forward, even if that means short term inconvenience. If she doesn’t want to lose you as a purchaser, she will have to show her commitment to moving.

House buying and selling is a financial business, but it’s also a heart versus head one.
lDo what’s best for you.

If she’s refusing content, pull out.

Where I live, there are no chains. A contract is between the seller and the buyer. The seller accepts the offer (perhaps negotiated) and generally settlement is 30 or 60 days (sometimes agreed to be longer). Once the settlement date occurs, money is transferred, ownership is transferred and you have to be out of the house - your future living arrangements are your own problem to deal with, you don’t get to push back settlement arbitrarily to suit your needs.
It’s bizarre to me that you can have an offer accepted and you have no idea when or even if you will get to move into the house.

OP - I’d find out why the other house is back on the market. If you prefer this house then go for it - you owe the seller nothing and it could be months before anything happens here. House buying is one of the few times where actively being selfish and doing what is best for yourself should be encouraged.

I would hate that and glad we dont have that system here. I assume it leads to a lot of people moving in with other relatives that dont really want them and causing a lot of stress and hassle.