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Original poster

Would you disrupt a chain for another house?

69 replies

Amerimoon · 10/12/2020 21:49

We offered on a gorgeous house a few months ago (at asking price) but were rejected as they had higher offers. We’ve now agreed to buy another house, nowhere near as nice, and the sale has progressed through surveys and most of the searches. Our house is being sold too and the chain is due to complete in January, although so date yet. Today we received a call saying the house we love is back up and the vendor wants to know if we’re still interested at that price, apparently they’re willing to go into rented. What would you do?

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PowerslidePanda · 10/12/2020 21:54

I'd be a bit suspicious, to be honest. Have you been told why the original sale fell through (and do you believe it)? You said you were rejected as they had higher offers - plural. Does that mean that not just one, but several other people who were interested, have passed up on it?

How would you feel about having given up the house you're buying if your attempt to purchase the "nice house" fell through?

HeelsHandbagPerfumeCoffee · 10/12/2020 21:55

I’d buy the house I really want. As disruptive as it is you're not compelled to buy the 2nd choice house just to keep the chain
Be aware folks will be justifiably hugely annoyed with you
But hey ho

PowerslidePanda · 10/12/2020 21:57

Sorry - said I'd be suspicious but forgot to say why! House prices have increased compared to a few months ago - and if the vendors had that much interest the first time around, they wouldn't struggle to get it sold at almost certainly a higher price. So why are they offering it to you instead?

Original poster
Amerimoon · 10/12/2020 21:58

@PowerslidePanda we’ve been told that they couldn’t find a house they want to move to and the buyers got annoyed and pulled out. They’re now thinking there’ll be a house price drop and want to sell now and go into rented (they want to upsize) so they can sit things out for a while and look to buy at their leisure. I’m suspicious for sure! No idea what to think about that to be honest.

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Original poster
Amerimoon · 10/12/2020 21:59

@PowerslidePanda we’ll round here there was a mini-boom a few months ago when that happened but to be fair things do seem to be dying off now. Perhaps it’s the cut off coming up in March??

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Original poster
Amerimoon · 10/12/2020 22:01

Thanks @HeelsHandbagPerfumeCoffee I’m genuinely torn between head and heart - the call came completely out of the blue today, really weren’t expecting that

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Viviennemary · 10/12/2020 22:02

I'd be suspicious too. No guarantee they'll go into rented. I'd be reluctant to deal with them. They sound a bit selfish and unreliable. If somebody else comes along with a better offer who is to say they won't accept that.

jelly79 · 10/12/2020 22:02

I'd go and see the house again and see how you feel. If you love it you should go for it if it is sensible to do so. All be it not great for your chain you have to go with what you really want

HeelsHandbagPerfumeCoffee · 10/12/2020 22:04

I’d want cast iron reassurances and exclusivity before I broke chain
I’d want them to confirm the verbal in writing and proceed quickly to contract

Original poster
Amerimoon · 10/12/2020 22:05

@Viviennemary yes they probably are quite awful people to deal with and it really puts me off. It’s definitely very risky!!

@jelly79 it’s one of those houses on one of those streets we’ve always loved and would be delighted to buy. It’s not the house, more the vendors and the chance they’ll just not sell it!

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Original poster
Amerimoon · 10/12/2020 22:06

@HeelsHandbagPerfumeCoffee can you get them to sign to agree to sell? I didn’t think that was a thing?

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HeelsHandbagPerfumeCoffee · 10/12/2020 22:09

Well it isn’t but I’d try get something written, email exchange, letter confirmation

PointyMcguire · 10/12/2020 22:10

I don’t understand why if they’re willing to go into rented they didn’t suggest that to the previous buyer with the higher offer before they pulled out?

We always wanted to link our sale and purchase but when our buyers threatened to walk we moved heaven and earth to not lose the sale as we’d got a good price. I can’t imagine letting our buyers walk away and then deciding to move into rented and accept a lower offer.

Original poster
Amerimoon · 10/12/2020 22:11

@PointyMcguire I know!!!! It’s baffling!!!

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Original poster
Amerimoon · 10/12/2020 22:13

@PointyMcguire according to EA on the phone today, that sale fell through two weeks ago and it’s been on the market since then. They just called us today (we didn’t notice it back on the market as we’re not still looking !) so I can only assume they thought they’d easily sell it again at that price but haven’t had any viewers?!

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CrimsonCattery · 10/12/2020 22:23

Can you ask the estate agent to contact the failed buyers and offer to buy the survey they presumably got for half what they paid for it? Should give peace of mind.

Original poster
Amerimoon · 10/12/2020 22:31

@CrimsonCattery oh that’s a good idea thank you!

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Mildura · 10/12/2020 23:08

[quote Amerimoon]@CrimsonCattery oh that’s a good idea thank you![/quote]
It isn’t a good idea, because if in the event you subsequently discover the surveyor has missed something you have no come back, as the contract would be between the surveyor and the previous buyer, not you.

The better idea is to find out who the surveyor is and get them to do a re-fresh survey of the property for you, at reduced charge as much of the work has previously been done. That way you get the survey cheaper and with the protection of a contract between you and the surveyor.

CatAndHisKit · 11/12/2020 01:32

I can't see anything dodgy or difficult regarding the vendors. The buyers has pulled out and they still were hoping to sell quickly again without moving into rented. But in many places things have slowed down, and as they had no viewings, they now want to sell (panicking a bit!) and knowing your position ready to go into rental.
I'd go for it if it's our drea house, but offer to compensate your vendors for time wasted (depends how long? not if a couple of weeks).

murbblurb · 11/12/2020 10:35

painful as it is, you can't buy the wrong house just to keep the chain together.

BUT

  • pissers-about like this are almost certainly lying about going into rental. They will find something they like, start the process and won't want to move twice. Been there...
  • I would suggest keeping your buyer and YOU prepare to go into rental, min six months if England. That at least sells your house, breaks your chain and puts you in a stronger position.
DiesalFive · 11/12/2020 15:51

They won't go into a rental. Honestly, 99% of the time when they say that (they may mean it at the time) it rarely actually happens. Their story doesnt make sense, you're far enough along now that I wouldn't pull out.

They will string the sale out to avoid going into rented and having two moves, and you could lose your buyers; I'd certainly be pissed off having to wait again for new searches etc, but I understand it's a dilemma!

Sparticle · 11/12/2020 16:31

It's a tricky one I think. I can totally see why your heart would go with the house you've been called about so part of me thinks 'go for it!' - but.... the vendors of the house you are currently buying will be heartbroken and I suppose it would be my total nightmare that my buyers would pull out this far into the process (I think my chain sounds similar to yours).

But you have to do what is right for you and your situation and if is to buy that house, yes your vendors will be devastated and you may become the subject of another MN thread (from the pov of the vendors!) but you'll have the house you really do want and in the long term, you don't owe anything really to them.

Tough one!

Original poster
Amerimoon · 11/12/2020 16:41

Ach such mixed responses. I do understand that our current vendors would be upset but then they haven’t played whiter than white with us either (lied and said property was freehold when they showed us round - later came out it was leasehold once we’d committed a bit of money 🤦🏼‍♀️). I don’t want to buy a house because I like or dislike the vendor though and we’re trying to make a good decision for the long run.

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Sparticle · 11/12/2020 17:00

Ah well on that point I'd pull out of that house on the basis that it isn't freehold and go for the other one. You have a ready-made excuse and don't need to say anything about the other purchase.

But other people on here have raised excellent points and concerns about the vendors of the dream property so don't take my advice for it. Confused

DiesalFive · 11/12/2020 18:08

@Amerimoon

Ach such mixed responses. I do understand that our current vendors would be upset but then they haven’t played whiter than white with us either (lied and said property was freehold when they showed us round - later came out it was leasehold once we’d committed a bit of money 🤦🏼‍♀️). I don’t want to buy a house because I like or dislike the vendor though and we’re trying to make a good decision for the long run.
You were told it was freehold but it's leasehold? Oh my word. I'd have no trouble pulling out! Do it!