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Original poster

Buyers pulled out- next move?

15 replies

Tiredemma · 25/05/2017 16:43

Our buyers have pulled out following Homebuyers Report.
We are just trying to ascertain what is in the report to make them withdraw. The lady doing the valuation said that she would suggest that we update the fuse box but other than that I cant think what the issue is.

If we put the house back up are we likely to get stupid offers?

I cant even write im so deflated.

OP posts:
Lottie991 · 25/05/2017 17:27

Did they not give you a reason then?

PurpleDaisies · 25/05/2017 17:28

We sold our house for the full asking price after losing our first buyer.

It's more common than you'd imagine.

bojorojo · 25/05/2017 18:05

Has you Agent any idea? He could have asked for more details. Still could! It could be rubbish of course and your buyers have found somewhere else they prefer.

Maggy74653 · 25/05/2017 19:39

We 'lost' our first buyer in a similar manner. After survey she came back with a £10,000+ quote for work highlighted as non essential and may need attention in the future. Quotes were done by friends of her Dad and when we got our own quotes they came in at £3000 maximum. As it was non essential work and didn't impact the valuation of the property we offered to pay half to progress sale £1500. She refused and wanted much more off so we said no and put the house back on the market. It sold again within 6 days. We sold it for more than we did to the first buyer and also found a much nicer house to buy than the one we were going to buy. (The sellers refused to wait for us to find another buyer.) In order to make sure the work didn't impact another sale we had it done ourselves before we completed.

Original poster
Tiredemma · 25/05/2017 20:09

We have spoken to the potential buyers. They are FTB so are taking the homebuyers report as gospel and a deal breaker. Stuff that has come up relates to the gas and electric which I believe always comes up as the surveyor is not a gas engineer or electrician so will always recommend further investigation.
I don't want to put any of the other issues in here in case they put me to the prospective buyer but they are literally just general issues that are easily addressed and not uncommon in a house of this period ( 1950s semi).
The actual mortgage valuation agreed with the price that was offered ( just over asking price).
We have instructed estate agents to put it back up and it's just gone live on rightmove. We had four offers previously ( 3 over asking price) so I'm confident we can sell again but it's the stress of having people viewing again and the potential delay to us moving ( and the people we are buying off getting frustrated and also pulling out).

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Original poster
Tiredemma · 26/05/2017 05:42

Should we put back on at original price ?

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DoristheNovice · 26/05/2017 06:18

I feel your pain. Our buyers dropped out the other day too. A old coal mine (fully capped and safe!) was found 17ft from our garden and their lender wouldn't lend, but instead of switching to a lender that would, they freaked out and ran (ftb's!)

We've gone back on rightmove, dropped the price and hope we don't lose the house we're buying. We have got a lot of interest but need someone who's got their shit together because we can't hang around. House buying/selling sucks.

PurpleDaisies · 26/05/2017 06:25

If you had offers above the asking price, put it back on at what it was before and get the estate agent to contact the peolld who missed out first time round.

user1492287253 · 26/05/2017 06:33

agree with purple daisies. we sold same day for more than asking. we have a big standard 70s home so survey will come bsck with the usual. we have already decided that we will put back on market if there is any quibbling

Original poster
Tiredemma · 26/05/2017 06:49

Thanks all. I'm so stressed. Dp is calling our estate agent this am to state no time wasters and only people who have sold. We need the asking price. I am in catchment area of one of the top 1% state secondary schools so I'm hoping we grab someone who is hoping to apply this autumn for next year.
I'm worried someone will sense our desperation and come in with nonsense offers.

The stuff on the homebuyers report is just ridiculous and I am annoyed at their naivety. They should buy a bloody new build!!!!

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thecapitalsunited · 26/05/2017 08:54

This is so infuriating. Surveyors always cover their arses by putting that they aren't experts in gas and electricity so get a specialist in. You always get thing wrong with houses even new builds (snagging lists anyone?) you just hope that nothing is going to take you by surprise!

The survey on the house I'm in the middle of buying cautioned about the 'elderly wiring' which will need to be replaced soon but then said the bit about getting a sparky in. We're proceeding with the purchase because we know that the surveyor has to put that in just in case the house burns down to do an electrical fault. I'm not even convinced that getting a survey is that helpful - they are always full of backside covering statements and if they miss something you can never ever get them to cough up. I only got one done because if something were to go wrong I'd always wonder if a surveyor would have spotted it!

loveka · 26/05/2017 09:23

Our first buyer dropped out on the day of exchange citing 'too much work' from her survey. We saw the survey and it was ridiculous. Recommended to rip out the kitchen to check behind it for damp. Said our solid wood bespoke kitchen was 'only usable. Take the conservatory off as 'it is not a usable room'. We were furious as the buyer took all this as gospel.

We are now exchanging next week. Our buyers survey did not mention one single thing that the previous buyers survey did. It had 2 things on it, neither of which the previous survey mentioned!

You are doing the right thing rectifying these things now. Little things can freak people out, we did a few things that cost £250 but were highlighted on the first survey.

I am rather mistreating of surveyors now, I have to say.

Original poster
Tiredemma · 26/05/2017 14:59

We have SEVEN viewings arranged over the weekend!

3 of them cash buyers.

The rest FTB's with no chain.

I am slightly more relieved.

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Maggy74653 · 26/05/2017 15:08

Our first time buyer was exactly the same. Expecting a new build perfect house with no issues! Every survey says get the gas checked, get the electrics checked etc! I know FTB can be beneficial from not having a chain but some of them have no clue about the house buying process.

I hope your viewings go well and you get lots of offers this weekend Grin

Original poster
Tiredemma · 27/05/2017 10:13

SOLD at asking price to a family member. They are going to rent it out.

we might have got a little slightly over from other interested parties but family member is cash buyer and I know that they wont let me down and pull out.

Thanks all.

Off to have a wine.....

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