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Original poster

Buyers have pulled out!

13 replies

Welshy545 · 07/08/2019 22:06

I am absolutely devastated today. Our house has been under offer for 2 months now (were in scotland) and we are due to move to new house in 3 weeks times and today our buyers have pulled out. Apparently they couldn't get a mortgage, surely they would of known this before now? We're now going to loose our dream home!
We are moving 45 mins away from where we are just now and have my DD booked in to start nursery there in 3 months when i go back to work, on mat leave just now. It is where I am originally from so close to all my family and friends. we have no support system here.
Just feel gutted! Is there anything I can do to sell my house really fast in the hopes we can still move in to our new house? It was on the market for 12 weeks before we accepted thier offer.

OP posts:
Ellieboolou27 · 07/08/2019 22:08

@Welshy545 feel for you as this happened to us in January, we put it back on the market at 20k lower than others in the road and sold within 3 weeks, still waiting for exchange though!

It's a truly horrible situation and caused so much stress Thanks

Original poster
Welshy545 · 07/08/2019 22:18

Aw it's just so frustrating isn't it? Our house is full of boxes and everything ready to move and now we're going to have to get it back to a viewing condition. Totally wasted the last two month's with it being off the market! That's a long time for your exchange to not be complete if you sold again in jan/Feb! Hope it happens for you soon.

OP posts:
LegoPiecesEverywhere · 07/08/2019 22:26

I am so sorry op. It is horrible. We had the same. They never intended on going through with the sale at all but we were proceeding in good faith. At the last minute they used all sorts of excuses including the death of a family member (lie) and their house hadn’t sold (lie). About two weeks after we put it back on the market we got an offer of 15% more and we closed within 6 weeks. We were not packed up though so I really feel for you having to unpack and make it look saleable again.

Mosaic123 · 07/08/2019 22:40

Property auction?

Zandana123 · 07/08/2019 23:42

Sorry to hear. I can empathise as the same thing happened to us today... we were due to exchange. Deposits from them were with their solicitors and everything had been done. Then suddenly they have pulled out, out of the blue.

Very sad that we also will not be able to proceed with our purchase and have wasted money and time in the process.

I thought the Scottish system was different and harder to pull out of a purchase?

unfortunateevents · 07/08/2019 23:54

Was just coming on to say what the last poster said about being more difficult to pull out in Scotland? Surely the agent/solicitor is at fault for not checking their mortgage status more closely before now?

movingontosomethingnew · 08/08/2019 00:09

Go fixed price, it will sell quicker.

movingontosomethingnew · 08/08/2019 00:10

@Zandana123 no it's much easier. Buyer gets to walk away if you've not concluded the missives.

Original poster
Welshy545 · 08/08/2019 02:01

In Scotland the buyers can pull out at any time until the missives have been signed which is normally a few weeks before moving. It does mean they can't pull out on the day I suppose, sorry that happened to pp! Next time I'll make sure they are signed really quickly! X

OP posts:
sandybayley · 08/08/2019 08:33

Sympathies. Same thing happened to us back in February - and we lost our onward purchase as a result.

But we sold again within a month and complete at the end of the month.

Our purchase has been an absolute nightmare (don't buy from a divorced couple) but we are nearly done. The sale was pretty smooth as all lots of the work from the aborted sale was still relevant and we knew the survey wouldn't throw up any unpleasant surprises. Plus our mortgage application was easy to progress for the second house.

You'll get there but I know just how frustrating it is.

The2Ateam · 08/08/2019 11:14

Sorry to hear this. Same happend to us last year. We were also told our buyer was refused the mortgage at application because the bank found something in the hard credit search they didn’t like.

We put our house back on the market immediately but unfortunately our sellers (the EA) wasn’t prepared to wait for us.

We sold again two-week later for -£10k and found another house to buy. It was a short chain and took 6-weeks from offer to completion.

Good luck, things will work out in the end.

Everafter1 · 08/08/2019 22:07

So frustrating!
Same thing happened to us (in Scotland) put it back on at fixed price, price of what we accepted before. Got a buyer that day.

Nutellaontoast19 · 08/08/2019 22:19

Same thing has happened to me! Still very angry about it!

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