Buyer has pulled out...☹️

[IceCreamIceCream]

Just that really. We were close to exchange and they pulled out this morning citing 'family reasons' but wouldn't give the EA anymore info. They think it's genuine as they will have lost money on the surveys etc.
The agents think they can sell it again quickly but the London market is slow...
Just needed to vent instead of crying in to my pillow!

Poor you.
Happened to us devestating. We ended up having to do let to buy so we could still move as we had to move for family reasons. I am an accidental landlord.

Don't worry, happened to us too, worked out for the better. We sold for more within a few days and ended up buying a nicer house.

Happened to us a week ago too. Devastating isn't it. I am trying to remain optimistic. But I share your pain and empathise as well as sympathise.

What kind of property and what part on London OP?

If it helps - it doesn't seem to slow to me! I've just completed on my ftb flat with mine offer secured over competing offers within a week of listing!

Feel for you! It's my worst nightmare.
We've just accepted an offer after 8 days on the market and have had to immediately offer / reserve on a new build (due to timescales)

I don't know how I will sleep for worrying what will happen if buyer pulls out

This happened to us 5 weeks ago, except it was the people we were buying from who pulled out. It's utterly devastating.

We had given up jobs, cancelled a holiday, packed up, had removals coming. Lost huge amounts of money. Our buyer had insisted on a certain date for completion with various threats if we didn't comply, so exchange and completion were only 2 days apart.

It shouldn't be allowed to happen.

loveka I think I remember your thread - bastards and I so so agree it shouldn't be allowed to happen.

I sold in Jan to ftb they pulled out 3 weeks ago after fucking be around for 4.5 months as it turned out on the end they couldn't get a mortgage after all. They were self employed so not easy to vet them in the first place.

Luckily I found a new buyer within 72 hours and that's proceeding but you spend the whole time living on a knifes edge as it could still go tits up. The whole system needs a major overhaul, it is 2017 after all!!