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Original poster

Sale price agreed not sure I want to proceed

70 replies

Rightnow1245 · 03/08/2018 00:29

So we have made an offer which has been accepted 50k under the asking price which we were amazed at! We are now having second thoughts due to a couple of reason and we probably won’t carry on with the sale. I feel really bad for the owners as they have waited almost a year to sell and was that desperate they were willing to take a massive hit on the house.

What reason can I give that we don’t want to carry on with the sale or do I not need to?

Thanks

OP posts:
LlamaPyjamas · 03/08/2018 00:30

You could just say that your situation has changed and for personal reasons you’re no longer in a position to proceed. No need to explain further.

MovingThisYearHopefully · 03/08/2018 01:00

What has changed?

Chickencellar · 03/08/2018 06:51

I'd be honest , look at the selling thread on here . It's happened to MNers who were devastated when it happened to them , moving is very stressful.

EsmereldaPepperpot · 03/08/2018 06:54

Start with the truth? Why don't you want to proceed?

RachelAnneJ · 03/08/2018 06:58

I would tell the truth.

sunshineandroses1 · 03/08/2018 07:11

Whatever you do don’t keep them hanging on. Make the decision and stick with it. You actually don’t need to give a reason but could say, as suggested earlier, something along the lines of ‘due to personal circumstances.....’ however if this is something about the actual house it may be kinder in the long run to tell the EA the truth if you can’t tell the sellers

Lonecatwithkitten · 03/08/2018 08:02

Swift and clean you have change your mind.
I have been on this from other side found house survey threw up massive amount of work needed. Went back as needed to renegotiate vendor messed about for 7 days before coming back with a figure we could not proceed. Wish we had know a week before.

FabulousSophie · 03/08/2018 08:06

Why have you changed your mind?

xyzandabc · 03/08/2018 08:10

What are your reasons you don't want to proceed?

Original poster
Rightnow1245 · 03/08/2018 09:12

So it’s half our fault because we didn’t know there was a train line about 300m away and we don’t want to live that close to the line. Also the estate agent told the vendor some personal information that we didn’t want our buyers to know and it was meant to be confidential but she let the cat out the bag! Now it just doesn’t seem right as people will know our business before we even move into the house.

I’m going to do it today just trying to see the best way to do it as I know the owner is going to be Devastated and I feel really bad! But it just doesn’t feel right and it’s a lot of money

OP posts:
specialsubject · 03/08/2018 09:15

it is indeed a lot of money so dont buy the wrong house and pull out asap. next time check a map first, saves a lot of wasted time.

also if you dont want information passed on, dont give it out - and get cross with the agent.

MaisyPops · 03/08/2018 09:17

The train line is a justifiable reason, though as a vendor I'd be a bit pissed off that we got this far and then you only just looked at a map.

The estate agent telling personal information. They shouldn't (not sure what it is), but that's no reason not to buy a house.

Thegirlinthefireplace · 03/08/2018 09:18

Rightnow, you have every legal right to pull out any time before exchange (more is the pity)

I initially thought you should tell them then the truth but looking at your reasons, you will look like a fool if you give those reasons, but up to you...

serbska · 03/08/2018 09:19

Train line, fine but you were pretty silly not to have checked that out before making an offer. You know google maps exists right?

The thing about people knowing your business sounds bat shit

Original poster
Rightnow1245 · 03/08/2018 09:19

Special I had to tell them I didn’t have a choice it was for legal reason!! Trust me we wouldn’t of if we didn’t have to lol!!!

But on the train situation I put my hands up we should of checked!

OP posts:
Bluntness100 · 03/08/2018 09:21

What confidential info and who did she let the cat out the bag to? Who will know your business?

This seems an odd reason to pull out. If it was so confidential why did you tell the agent?

ShotsFired · 03/08/2018 09:24

A rail line 300m away? Do you mean that, because that's pretty blooming far away. Or do you have cats who you fear might head there?

The personal info thing - unless it's "the lady who is buying it is a high class madam and will be entertaining clients in day long gang bangs and will be telling everyone you are her best customer" - the vendor probably doesn't even remember it now. It's not relevant or of interest to them. (And even if it is that, they probably still don't care - they just want to sell their house!)

What is the real reason?

SassitudeandSparkle · 03/08/2018 09:24

The vendor will be moving, does it matter that they know something?! That just sounds like you panicking about buying the house tbh, I assume it's something to do with the finances which they would normally talk to the vendor about your ability to buy (mortgage, finances, whether you currently own a property/renting etc) so be aware that it will come up again with the next house!

The train line - you obviously didn't notice it at the time you were viewing so it might not be so bad. But if you are going to pull out do it ASAP so as not to string them along.

Original poster
Rightnow1245 · 03/08/2018 09:24

Because we don’t need a train for work we just didn’t look I know it’s really silly but it was a little bit of an over site!

Just to say it’s only been 4 days since the accepted the offers so no solicitors have been involved yet so very early days.

OP posts:
Possumfish · 03/08/2018 09:26

I nearly pulled out of our house purchase because of a train line. I'm glad I didn't as you actually can't hear it! We are about 200m away n if the wind is blowing in the right direction we can sometimes hear the platform anouncements, but that's all. I'm so glad we went and sat near the house to see how "bad' it would be. If the house is perfect apart from that I'd keep it in mind!

loveka · 03/08/2018 09:43

They are moving so they wont ever see you again, it doesn't matter what they know.

The train isn't that near!

Juat say you changed your mind. That is fine after 4 days.

Saying what you should have done is pointless now.

Bluntness100 · 03/08/2018 09:56

Sounds like you just changed your mind and are looking for a reason. You really shouldn't offer on properties unless you're sure. It's a fairly shitty thing to do.

wowfudge · 03/08/2018 10:02

FFS - if it was that confidential why on earth would you mention it to the EA? And so what if the sellers know something about you - you won't be there living next door to them.

PugwallsSummer · 03/08/2018 10:03

You have every right to change your mind. It is a big decision and if you're unsure then you shouldn't proceed.

Having said that, I feel so bad for the sellers - especially if they need to sell so badly they were willing to accept £50k less than the asking price. They're going to be gutted. Not your problem, of course, but it's not good to mess people about like that. You need to be certain before making an offer on a house.

This happened to me earlier this year and it was devastating. We needed to sell for financial reasons, and the emotional rollercoaster of sheer relief at selling, followed by total disappointment when the buyer changed their mind was horrible and took several weeks to get over such was the urgent need to sell and all the anxieties that come with that

Lilmisskittykat · 03/08/2018 10:08

@Rightnow1245 don't feel bad it's a business transaction, a lot of money and will be your home for a long time with some luck... so you've cooled.

That's ok, only been a few days. I know your getting the other perspective but not need to stick with a decision cause of guilt for people you don't know.

Just agree about getting it done sooner rather than later. I would just say what I think second poster advised... no need to go into detail.