Reasons for buyers pulling out

[RosieLeaLovesTea]

Hi all
what are reasons for buyers pulling out? I’ve been reading people’s experiences on here and I am
shocked that people would pull out so close to exchange or on the day. But o can understand it if people are feeling messed around or getting no where.

When you have invested in the process and are so close why would people pull out?

Someone I knew was due to exchange when she was 25 weeks pregnant so they’d be in the new house for the baby. She went into labour the night before exchanging and so they pulled out as couldn’t deal with it all plus prem baby. I sort of understood but 3 years later their stuff was still in boxes in their garage and she’d replaced all the things like plates, saucepans etc rather than unpack. The house they were buying was their friend’s house and she couldn’t understand why they were upset. Prem baby was fine and is now 10 and they’ve stayed in the original house.

Spite maybe...or just resentment after agent told them firmly no reduction, although they never asked for money off in terms but raised sthg which had come out of the survey which was a non-problem. After faffing around for two and a half months, they emailed they were pulling out. Didn't reply to phone calls but eventually said the house required too much work...doesn't require any work at all. So....they are buying next-door but one which had been on the market for some time while ours was under offer. Exactly the same layout and no difference in standard. It'll be "lovely" to see them if we can't get another buyer and haven't moved.
The system in this country is horrible, it's about as secure as picking up a leaf outside, putting it on the wall and hoping it'll stay there.

The buyers of our old house pulled out of buying next door just before exchange. They'd been planning to extend it from 3 to 4 bed, applied for permission and it was turned down. Ours was already a 4 bed but otherwise mirror image house so they went ahead with that instead.

I felt sorry for our old neighbour who had the sale fall through at the last minute but he had onward place already sorted and could afford to move out (also owned other properties he was renting out) so he wasn't totally stuck.

The house still hasn't sold, and is now on with a different EA and being marketed as suitable for extending(!). They have put subject to planning permission but they know it wouldn't be granted!

So sometimes it's a case of sellers/EA not always being truthful.

The sellers of the house we were buying pulled out just before exchange because they’d changed their minds about moving. The EA gave us this long sob story about how they’d been having sleepless nights about it etc etc and genuinely seemed to expect us to feel sorry for them. It was hideously stressful and we proceeded with our own sale and moved into rented then found somewhere much nicer. I also sent them a polite but pointed letter explaining the consequences of their decision for us and the financial costs. They may not have read it but it’s too easy for people to make this kind of decision without having to care about the impact. Sending it made me feel at bit better at a pretty rough time.