Buyer pulled out at the last hurdle! Talk to me about fixing the chain

[LuluLefevre]

FFS. We are almost at exchange in a small chain (cash buyer, us, chain free property). Our buyer today has decided to pull out. We assume they've found something else although the reasons are hazy.

Our onward purchase isn't in any particular hurry and we've already invested in the transaction. We need to fix the chain by finding another buyer ASAP - ideally another cash buyer or FTB.

Can anyone who's done this give me some advice or reassurance on how feasible this is? Can the EA stipulate FTB or cash only when choosing who to allow to view? I really don't want to lose this house. The property market is red hot here but even so, we had a few weeks on the market in early summer before we found the original buyers, when at the time everything else was under offer in a nanosecond.

Thanks @TakeYourFinalPosition!

Any advice on how not to go out of my mind with stress and frustration with all this?? Our agent called this morning to say that someone wanted to make a really low-ball cash offer (about 7% under) sight unseen and would we consider it The market has risen 20% here since we first listed it in Spring so...no?!?!?

Hi OP, don’t panic. It’s easily said but honestly, it’ll get sorted and you’ll sell again. I sold my dad’s house as a probate sale last year in the middle of the pandemic to a cash buyer and it all went through really fast all things considered. Sold my own house to a FTB this year, would’ve been super quick but the delays were down to us (long story!) but was 4 months from offer to completion which still isn’t bad given the delays caused by stamp duty holidays creating extra work. Keep a clear head and make sure you get what you deserve for your property, don’t feel rushed into compromising on a lower offer.

I should say we're keeping the asking price the same - not putting it up, so that really feels like a dick move.

Thanks @Retrievemysanity. I really need to hear those stories! I feel like the agent just wants us off their hands now. We actually can't take a low offer or we won't be able to afford the onward purchase as lending criteria has changed in the last few weeks and we can now borrow a lower amount, which was totally unexpected.

@LuluLefevre I feel your pain, house moving is super stressful but look, it could be worse, your sellers aren’t in a rush, these things happen, it’s no fault of yours and you will sell again. There’s lots of people in the same boat and I know it’s all consuming but honestly, keep calm!!!