Advice on pulling out of house purchase

[OrangSky]

I need some advice please! How bad is it to pull out of a house purchase approximately 6 to 8 weeks after offer was accepted? We don't even have an indicative completion date yet. Would the estate agents put a black mark against our name and tell all other estate agents in the area to steer clear of us?
Do you have to have a very good reason, or is it acceptable to just say we have changed our minds?

What a shitty thing to do.

All the reasons you list have been known about for the whole time.

You're an idiot.

So what are you going to do? Continue to rent and hope the market doesn’t continue to increase, till you can’t even afford this one in six months, and you have to make bigger and bigger compromises?

It's not ideal but it happens. You went in with good faith but have had second thoughts, you're only human and it's a big deal moving. You won't be black listed but I'd make sure you're more certain next time you make an offer.

@OrangSky

Well the reasons are that the house needs a lot of work, the bedrooms are quite small and the garden faces east when I really wanted a south or west facing garden (for the evening sun). We had looked for so long and the house somehow felt really right so at the time I decided I just have to compromise on some things. The location is great, we can't actually afford any of the bigger or fully renovated houses in the area and I swear out of 10 houses that come up 9 have north or east facing gardens! However, over time I have started feeling that these compromises are too big and now I am just full of dread :(

So you pull out of this one and you still won't find one you want.

If you can't actually afford the house of your dreams, what's your plan?

You liked it at first. .,maybe you could go see it again?

I think it’s an awful thing to do and wish there was a penalty against it if you’ve cost other people money. The Scottish system is much better.

I’d think carefully though, if it’s a great area and you could add value it could be a good buy. What’s it they say, better to buy the worst house in the best street...

It sounds like you should have thought a little harder about putting in an offer. Everyone will survive, I just feel sorry for the chain.

Is it a big garden? Often if garden are large it doesn't matter which way they face, you will get sun well into the evening any way, just not in the entire garden. I think there is too much emphasis these days on which way the garden faces, not enough on the shape, size and surrounding trees.

You could have a south facing garden but if there are huge protected oak trees surrounding it you wouldn't get any light and there's nothing you could legally do about it.

We sort of have three gardens on our house (it's an odd lay out, they are all small). One is west, one east and one south. The east facing garden gets sun all morning and most of the afternoon. It's only lost completely at about 4pm? The south and west facing get more afternoon/evening sun but it's not enough of a difference that would put me off a house purchase.

As someone who's entire chain has just collapsed due to someone like you, with only 9 weeks until I give birth, I can hand on heart honestly say that due to the reasons you're pulling out, it's a really really shitty thing to do! If it had been a few days after then fine, but we're talking 2 months down the line and those reasons were there at the beginning when you made the offer.
Next time you decide to make an offer I suggest you make sure you definitely want it and the impact your actions have on other people, not to mention the financial implications for them as well, if you decide to selfishly mess people about in the same way you're doing to the sellers now.
At the end of the day, nothing anyone on here can say will change your mind, you'll do what's right for you. Just be wary that Karma is a bitch 🙄

On the one hand, I would say it's too much money to spend just because you'd feel guilty pulling out, however, if this really is the best you're going to get and you're just feeling a bit nervous about it then you might end up regretting it later.

Only you k ow for sure how likely it is that a better house will come up. Most people have to compromise on something, it really depends on your priorities.

Honestly getting the evening sun isn’t all it’s cracked up to be. I always wanted this and our last house had it but on a hot day the sun beat into the back of the house and made it too hot to sit in the lounge or in the garden. As others have said, think about what you did like and go and have another look around, it’s a big purchase and easy to get cold feet if the last time you visited was weeks ago.

Some very helpful questions in some of the responses which have helped me to try to shift my perspective, so thank you. Perhaps it is buyers remorse as someone suggested, I don't know.. We looked for months, researched house prices in all the areas and it felt like this one ticked more boxes than not and some really important ones like green spaces nearby, really quiet street, potential to expand.. And yes, as a few people have said, if we pull out of this one then we might just end up with the same compromise, or worse, but with months wasted :(.
If I think of the house as a project which we can sell in a few years if we don't like it then I feel much better about it, so thank you for that suggestion too. However, I am worried that if this house turns out to not be The One, we might find it even harder next time to find The One!. Estate agents around here seem to have a rule that they won't accept offers until the full chain behind has offers so I don't understand how people ever manage to buy the perfect house as surely there is only so long that you can keep looking if you have a whole chain waiting on you?
Our current place is in first time buyer market so there is basically no chain other than our buyers, so I feel like we will never be in such a a strong buying position again :(. The house we are buying price wise would not be in first time buyer market when we come to sell it.

'Is it a big garden? Often if garden are large it doesn't matter which way they face, you will get sun well into the evening any way, just not in the entire garden. I think there is too much emphasis these days on which way the garden faces, not enough on the shape, size and surrounding trees.'

I totally agree with this I have an east facing garden and I get sun all day until 7pm and the only reason for that is because of the way a house nearby is positioned which blocks my the sun from 7pm.

I agree, it’s a really shitty thing to do so far down the line. Our chain broke down last week, just days before we were due to exchange and complete, because someone at the bottom pulled out. We’ve spent hundreds on surveys and help to buy redemption valuations on our property, and now we have to start again from scratch. Even more annoyingly our daughter starts nursery next week in the town we were due to move to over half an hour away. The English system needs reform, because it’s peoples lives you’re messing with, not just a house!

'The English system needs reform, because it’s peoples lives you’re messing with, not just a house!'

I totally agree.

Garden is 16 m or so long I think.

I found my ideal house, offered and got accepted, and then sold ours. Depends on the house and how busy it is. Many people sell and rent to find ‘The One’.

The best piece of advice I was given when looking at houses was not to think of the negatives, but think of the opportunities. It's such a huge decision and nothing will ever be completely the way you want it.

So, instead of thinking that the garden doesn't face South, plan where you can put the patio furniture to maximise light or look at some of the beautiful fern / shade planting options for the darker bits.

The fact it needs work means that you can get exactly what you want. Choose your perfect kitchen for example and not have to put up with anyone elses horrid granite choice or awkwardly positioned breakfast bar.

If the house still fills you with dread, then perhaps you should pull out. But be aware that if you're the sort of personality to focus on the negatives like this, will you probably be the same with your next house?

Also before you do, think back and answer honestly, has your perfect house ever come up for sale at a price you can afford in the last few years? That will give you an idea about how realistic you are being.

Good luck!

That's a big garden. If I were you, I would think really carefully about what your options are if you don't buy this house.

Go and see the property again. And look through right move sold properties to see what you could buy for the sum you've agreed.

Its usual to feel like you're making a huge mistake, but you may be buying the only house you're actually ever going to be able to afford in that area.

@PinkCrayon

'Is it a big garden? Often if garden are large it doesn't matter which way they face, you will get sun well into the evening any way, just not in the entire garden. I think there is too much emphasis these days on which way the garden faces, not enough on the shape, size and surrounding trees.'

I totally agree with this I have an east facing garden and I get sun all day until 7pm and the only reason for that is because of the way a house nearby is positioned which blocks my the sun from 7pm.

Me too! I have a South facing garden, the sun is on there from 11am until sunset. Our bedroom is in the back with our baby sleeping in there so it was roasting in the recent heat wave

Having just had this done to me, I can tell you it's utterly shitty to be the seller on the receiving end of this but sadly it's a case of just sucking it up. Tell them ASAP so you don't waste any more of their time and please have a clearer idea in your own mind of what you are/are not willing to compromise on before you go making offers.

2 months down the line and you suddenly object to things you knew all along. If it was something that came up in a survey, then I could understand.

Of course, pull out if it’s not the right house for you. However, you have messed with people’s lives, cost them money and will create a lot of stress and upset. Pull out as quickly as possible if you have no intention of buying. People like you really piss me off!

Well, if you’d been looking for ages and the property felt right at the time, maybe your intuition has got it right?

In a 16m garden you’ll get morning and evening sun unless there are some huge trees casting shadow.

In terms of enjoying lovely sunshine beaming in through the window, the front of the property faces West so you will get the evening sun.

As a side note, have you had a look through sold properties on Rightmove? I did when I was looking and realised that only 2 houses in 5 years met my criteria so we adjusted our expectations.

I shouldn’t have ended my post with people like you really piss me off so I take that back. Please just really think hard about what you’re looking for before you put an offer in for another house. Also, consider that you may just be getting temporary cold feet as it’s just a big decision. In the cold light of day, you may find that it is the right house and the things you now dislike are compromises you’d need to make with any house depending on your budget.