Seller pulled out, feel broken

[loveka]

Today I was meant to be waking up to a new life. We were meant to be moving 250 miles away to our dream house yesterday. It had a business attached, so it was going to be a new start for us.

Last Thursday afternoon the sellers pulled out at the moment the solicitors in our chain of 3 were actually releasing funds.

We have lost lots of money, time, effort and emotional stuff. The house was packed, removals booked and due to arrive on Monday as the move would take 2 days. My partner has given up his job. I am freelance and had turned down work worth £4k. We sold our endowment (had an endowment mortgage so had to do this to have funds on completion). We cancelled a holiday because our buyer wanted to move on a certain date, which was yesterday.

Their house was in the market for 18 months. They told us all along they would rent if they hadn't found anywhere. But they just changed their minds.

Unbelievably this happened to us just before Christmas when our buyer pulled out the day before exchange. The sellers waited for us to find a new buyer and now they have pulled out themselves.

This just wasn't just a house, it was a life change. I'm just lying in bed feeling so awful. I can't bring myself to start unpacking even. I'm just having a moan really.

I feel so bad reading that OP. Nothing will make you feel better 'right now' but when the real move happens it will be for the best.

Hugs from me, until then.

PS, I think the system sucks.

How have they managed to pullout whilst the money was being exchanged? It's the norm For contracts to be exchanged at least a week before completion and money transfers are done. If your solicitor didn't exchange contracts prior to Completion day I would be asking him some very stern questions. If contracts have been exchanged then your buyer is legally obliged to buy your house.

Oh OP, how heartbreaking.

Exchange doesn't have to be a week before completion. It can be on the same day if necessary, not that it makes it any easier for you now.

The deposits were being released, and contracts. I was just making the point that it was at the very last second they could have pulled out.

We only had 2 days between exchange and completion because of some indemnity insurance that had to be purchased.

I'm so so sorry ... I hate our buying and selling system here, seem so insecure and unfair.

Havingahorridtime - not always, my last 2 purchase we didn't exchange until the same day as completion.

In fact on 415 of the last move we had a phone call to say they still hasn't authorised completion and we were sat in the new house panicking about insurance on the old house, but at the last minute they sorted it out. It's not ideal to purchase like that, but it does happen.

Is there any possibility they will change their minds?

Did they give a reason for pulling out?

I'm so sorry, I have no words that will help, it's just an unbelievably selfish and shitty thing to do to you guys

x

Thanks so much.

They said that they were trying to buy a house (and exchange on it the same day we were exchanging ) then found out it had subsidence. But we had no idea of any of this! We thought they were renting.

They might change their minds, but we have lost our buyer now so we are no longer proceedable anyway.

I'm just devestated . Partner is now looking for a job, but he was unemployed for 3 years before he got the job he just left. His age is against him I think.

Would your buyer come back if they moved into rented?

I know it's slim chances but maybe better than finding new jobs etc etc.

I'm really sorry. It is awful for you.

Utterly crap of them to wait until the last possible second.

I wonder if your partner can ask for his old job back? I know he won't want to but it could be a while before you find another place. Worth asking at least surely?

Hindsight is a wonderful thing but, given the two bad experiences that you have had, when you find another place, get it all sorted, get the keys and then he can hand his notice in. It will mean that he has to kip on friends' floors for a month and travelling to see you when he gets a couple of days off but it would be worth it for peace of mind.

Sorry about it all.

What absolute barstools....

The system needs to change to stop this, im so sorry xxx

How awful for you .

When this happens on a normal house sale & purchase it's crappy enough, but when your whole family income/jobs were also dependant on it it must seem so much worse.

Why couldn't the Sellers ask to extend completion for a short while in order to organise a rental? I honestly don't know how some people manage to sleep at night.

So sorry for you OP. It truly sucks.

Sorry to hear this OP. Throughout the last 6 months, this has been our worst nightmare within our chain of 4, but we were fortunate that exchange occurred earlier today.

I wouldn't even know where to start with all you've gone through. I hope everything works out for you both.

Sending hugs.

Why didn't you go ahead with your house sale and rent for a but in a new place whilst looking gir a house there?

Oh God op, that sounds horrendous. I think you better get down the offlicence and get yourself a bottle of wine. Hopefully you at least have a mug to hand? You have my serious sympathies - we had buyers pull out two weeks ago and it has been the most stressful two weeks; we lost our house we are buying too. Luckily for us we hadn't got to the point of exchange yet, though we had already done all of the legal stuff (searches, fees, mortgage, survey) and were invested financially and emotionally.

Really hope it works out for you, it is the worst time, I know.

We couldn't rent as we have pets and also would have had no income.

Besides our buyer gave us 2 extra days to move out which we couldn't have done.

So sorry for you :(

Fuck that really really sucks :-( So sorry

So sorry loveka. Our system of buying and selling houses is deeply flawed. The stress we were under going through the sale of our house made me ill. Total nightmare and you have my wholehearted sympathy. Take care.

I'm really sorry that's happened to you OP. How horribly stressful

oh my goodness, this is the worst i've heard. i'm so sorry that you're going through this. people just dont give a shiny shit when it comes to buying and selling do they? i bet you're just stunned and shocked still. i hope you feel better soon.

It is shocking Hope it works out for you, OP.

It is utter utter wank. You have my upmost sympathy. I sold in Jan to first buyers and found out only today they can't get a mortgage. That's 4.5 months and 2k up the swanny. The system in this country is crap!

I'm so sad to read this

As others say our system is broken it just shouldn't be that you can do this to a person