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Original poster

Pulling out of house purchase

15 replies

flowerbed · 12/02/2015 12:56

Nothing wrong with the property I am currently looking to purchase. Very nice house, good location and good price agreed.

HOWEVER... Had a look on rightmove last night and a house which I think may very well be my absolute dream home has come onto the market and I am so tempted to make an appointment to view it and possibly put in an offer if it is as good as envisaged. I would obviously lose money already spent on current house purchase (searches, surveys etc.), but nothing more as I am a chain free ft buyer.

But I feel so terribly guilty towards current vendors as they would not only lose money due to no fault of their own, but also very likely their own property purchase.

My mind is racing and constantly going round in circles. On the one hand I think that 250k is too much money to spend on something that I don't feel is perfect and I should just focus on what is right for myself. But then the guilt sets in, especially as I met the vendors when viewing and I know that they are desperate to move to get their child into desired school catchment.

So what am I to do? Has anybody else been in a similar situation and what did you do?

OP posts:

twentyten · 12/02/2015 12:58

Go and look. Find out if it is your dream house. Otherwise you will always wonder.

Owllady · 12/02/2015 13:00

Just go and look at the other house and emotionally detach yourself from the vendors of either really
It's not nice and I do think it's hard, but it's a business transaction really. You don't owe anyone anything

GothicRainbow · 12/02/2015 13:01

I think you need to go and look at the property you've seen on rightmove to find out if it is indeed your dream house or if it just looks good online.

The other thing you need to consider is that this is a big purchase for you and this could just be last minute wobbles over making such a big commitment - abit like cold feet on the wedding day.

Try and be as objective as you can when looking at this other house.

Theselittlelightsofmine · 12/02/2015 13:04

This reply has been deleted

Message withdrawn at poster's request.

BauerTime · 12/02/2015 13:22

You should definitely be automatically be blocked from rightmove and similar from the time you accept an offer or have an offer accepted until about a year after completion

But seriously go and view the house before you get too worked up about it. You might not like it so much in real life.

hereandtherex · 12/02/2015 14:03

Go ahead. Buyers market.

Bowlersarm · 12/02/2015 14:07

Go and view. You might not like it anyway, but would spend the rest of your life boring your nearest and dearest with tales of the one that got away.

If you do like it, sad as it is for your vendors, you need to do what is right for you.

Original poster

flowerbed · 12/02/2015 14:24

Thanks everyone.

Have made an appointment for Saturday and will view without emotional attachment (well, I'll try ...). Maybe I am just getting cold feet and the house is not as good as on the sales particulars, but like you said I will never know unless I go and view it.

Will remind myself that current house purchase is a business transaction and that I will never see vendors again. Just find this difficult as they seemed genuinely nice but then I suppose they would want to give that impression.

And Bauer you are right, people buying/selling should definitely stay of rightmove. I've become a bit of a rightmove addict and since deciding to buy have been literally checking every couple of hours to see what else is coming onto the market and if prices are falling or rising in my area.

OP posts:

SocialMediaAddict · 12/02/2015 16:02

I would definitely look at the dream house. You don't want to endlessly think what if.

specialsubject · 12/02/2015 16:07

it's way too much money to buy the wrong house.

go see the other one with an open mind.

BauerTime · 12/02/2015 16:45

flower I'm guilty of it too. I keep checking not only the area we are moving to but the one we currently live in to keep an eye on house prices. I think our current house would probably fetch a bit more now than we have accepted a couple of months ago

BauerTime · 12/02/2015 16:46

flower I'm guilty of it too! Lunchtimes are currently rightmove time! Luckily for me though we 100% can not afford anything better than we are buying in the area we are moving to

MadCatGirrrl · 12/02/2015 18:10

OP. Same thing happened to me - offer accepted/ full survey etc on house A. House B came on the market, went to view it, fell in deep love. So glad I pulled out of the first house, despite being over 1K out of pocket. I felt awful for the original vendors and wrote them a letter of apology, but I'm in my dream home now and as it's my forever home I have got over the guilt of pulling out of my original purchase. It's the biggest thing you'll ever do, so do it right.

stargirl04 · 15/02/2015 23:05

I'm dying to know how the OP got on with the viewing - come back and tell us, OP! x

meadowquark · 16/02/2015 05:51

I might be in your position. As my purchase has taken over 4 months so far, I am starting to feel serious doubts about it. It was never perfect, but was mean to be a compromise. I viewed a house later on which is much more expensive, but may be my forever house. My purchasing is approaching exchange date. I feel terribly guilty, but will view the 'forever house' again today and am likely to pull out of my purchase. I wish England didn't have this legal system in place allowing to pull out at eleventh hour, but as it is legal to pull out, I am going to use it to my advantage. I wonder how did your viewing go OP?

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