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Original poster

Lost our buyers

16 replies

Ouchoc · 26/01/2021 11:58

At the point of exchange we've just lost our buyers. I'm so annoyed about the lost time and the fact that we have to go back on the market at a less busy time (I'm guessing). I don't know how to stop being angry and depressed about it. Advice welcome.

OP posts:
lambo88 · 26/01/2021 20:13

Oh god I really feel for you...it's crazy to think anyone can drop out of a sale even at the last minute...I've known people to have there whole house packed up ready to move the next day and for the buyers to pull out the day before...we're in the process of selling...last year was so stressful trying to sell our current house...went up for sale June and didn't sell until October...we are praying it all goes through and won't be happy until I have our new house keys in our hands...just try and stay positive and that it wasn't ment to be and something better is going to come along xx

Onmyleft · 26/01/2021 20:18

Sorry to hear this. Why did the buyers pull out?

Get your EA to contact buyers in their database that they know are ready to buy. There may be some who list out who are desperate to buy and possible do so before the stamp duty reduction ceases. Perhaps a bee buyer could buy the searches off the buyers who pulled out to speed up the process.

CityDweller · 26/01/2021 22:44

This happened to us. Twice. But it worked out ok in the end - sold to the people who’d made an offer when we first went on the market (which we turned down for the first lot of fuckers that pulled out) and completed with them in less than 2 weeks (whole process took 7 months in the end)

Didicat · 26/01/2021 23:35

Sorry rubbish timing did they at least give you a understandable excuse for pulling out?

Tomatoandbasil · 26/01/2021 23:43

This happened to us twice but third time lucky worked out.

user1471538283 · 27/01/2021 18:04

Oh no how awful. I dont understand people who get so far and then pull out. I had a buyer pull out earlier in February one year and I got a new buyer in 2 weeks with another agent. I made sure i only accepted viewings from buyers ready to go. However I really wish I had let the house I was buying go. It was the worst mistake of my life. I'm sure you will get another buyer soon.

RainingBatsAndFrogs · 27/01/2021 18:45

Oh, so sorry Sad

Why have they pulled out?

Such a bummer, with stamp duty holiday deadline looming. Angry

Original poster
Ouchoc · 27/01/2021 19:21

We have had an understandable reason why they pulled out. Nothing to do with our house, so I guess that's something. It just feels like really bad timing as assuming most people interested in buying at the moment have already made offers due to the stamp duty holiday.

@user1471538283 why do you wish you'd let the other house go?

OP posts:
Didicat · 27/01/2021 21:23

Have you come up with a plan of action? What have estate agents advised?

Candleabra · 27/01/2021 21:28

Oh bollocks, sorry for you that's rubbish.
I'm waiting for an exchange date from my buyers, and I know - despite everything going to plan so far - it could all go tits up at any moment.
What a system eh? Ridiculous.

Candleabra · 27/01/2021 21:30

I think there will be a lull in people looking for a little bit so people don't feel too ripped off about missing out on the SD holiday. Then things will pick up again soon after. People always want to move house.

rbubu · 07/02/2021 09:42

This just happened to us - accepted an in October to a FTB, had our offer accepted in November on our dream house, and a with a week or so to go until exchange our buyer has pulled out because they changed their mind. They visited 4 times in the past few months to measure up and were effusive with praise and excitement so super surprising and very depressing. Made a counteroffer to them to no avail.

Sellers gave us a couple days to find a new buyer but are now putting their property back on the market as there's a few in the chain above them all want to beat the stamp duty holiday. And we're left with a couple thousand in legal fees/surveys to pay for the purchase that now won't happen, and even more for the sale if we can't find a new buyer.

Absolutely stinks.

Candleabra · 07/02/2021 10:31

@rbubu sorry to hear that. And for everyone in the chain above.
I know if our buyers walked now there would be no chance in propping up the chain to complete before SD deadline even if we got another offer tomorrow. The searches alone took 5 weeks to come back.

rbubu · 07/02/2021 11:35

@Candleabra had your previous buyers already had searches done? If so your (or new buyer's) solicitor should be able to buy them for a small charge to save you a few weeks. That's what ours has done.

Candleabra · 07/02/2021 11:39

Sorry I misled you. We haven't lost our buyers, and they given us no indication that they have any intention of pulling out - I'm just feeling very jittery. Wrong thing to write on your thread though, sorry.
(That's really useful info though about the searches - thank you)

rbubu · 07/02/2021 11:59

@Candleabra my mistake, I misread your reply. Sound like very normal understandable jitters and hope you successfully complete soon - it will all be worth it!!! GL

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