Pulling out of house sale/purchase - what to offer our buyer?

[Clownpanda]

We accepted an offer on our house about 3 weeks ago. A few days later, we had an offer accepted on a house we thought we wanted to buy.

Except, we don't. We rushed it. We don't like the house enough to buy it. We've spent 2.5 weeks trying to convince ourselves it's the right house for us and it very nearly is, but not quite. It went to closed bids and we got swept up in it and bid more than we should have done. But even if we'd got it cheaper, it wouldn't make a difference.

Our seller is chain free anyway and will sell the house again in seconds once it goes back on the market. But I feel bad for our buyer. There's so little coming on right now and the market is so crazy that we're thinking of giving up and trying again in a year or two.

If we do this, I will feel so guilty that I will want to offer something to the buyer. I know they've already paid for a survey. Can I offer to pay for this? How would I do it? Through our solicitor?

Please don't be mean because I already feel terrible!

Just make sure you're not eligible to pay the estate agents fee anyway- as they found you a buyer and it's you pulling out.

I'm really worried about this but I've checked and re-checked and it seems to be ok. I could be wrong though...

Sorry you're in this position too. As a previous poster said, I don't really know how it can be avoided with the market as it is right now - you have to be under offer before you can even view anything! When I bought my current house, I didn't put my flat on the market until I'd found something to buy. You can't do it like that anymore.

@Clownpanda

We accepted an offer on our house about 3 weeks ago. A few days later, we had an offer accepted on a house we thought we wanted to buy.

Except, we don't. We rushed it. We don't like the house enough to buy it. We've spent 2.5 weeks trying to convince ourselves it's the right house for us and it very nearly is, but not quite. It went to closed bids and we got swept up in it and bid more than we should have done. But even if we'd got it cheaper, it wouldn't make a difference.

Our seller is chain free anyway and will sell the house again in seconds once it goes back on the market. But I feel bad for our buyer. There's so little coming on right now and the market is so crazy that we're thinking of giving up and trying again in a year or two.

If we do this, I will feel so guilty that I will want to offer something to the buyer. I know they've already paid for a survey. Can I offer to pay for this? How would I do it? Through our solicitor?

Please don't be mean because I already feel terrible!

Don't feel terrible. It's not your fault that we have this rididulous property sale system in this country.

Apologise and promise you'll give them first "dibs" if you find somewhere else. Use the money you'd have given them to go towards the 8 surveys you'll need as seller after seller messes you around over the coming years.