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Moral dilemma - to pull out of a sale?

63 replies

Pamela83 · 28/06/2022 13:15

So this is my situation....I put an offer in last November, which got accepted, and there was an expectation to complete the sale within three months as there wasn't supposed to be a chain. After these three months, the sellers said that they changed their mind and want to wait until they've found their new property before completion (so effectively putting it in a chain). I was less than impressed, I didn't agree to the delay nor did I pull out of the sale, I thought let's wait and see.

Fast forward 8 months. Yesterday I saw another property - the property of my dreams! And this morning I had an email from the old estate agent and my solicitor saying that their chain situation is resolved now and they propose to complete next week. Had already three phone calls from the estate agent since.

What shall I do? Pull out of this purchase and pursue the new property I've seen, or go ahead and exchange next week on the old one? I feel terrible for letting the old sellers down so late in the process, but on the other hand it's obviously a big investment and I should buy the best property for me.... I try to make myself feeling a bit better by telling myself that if the seller had completed 5 months ago as initially agreed, they wouldn't be in this situation now. They took a gamble by letting me wait another 5 months, so probably they knew there was a risk of them losing their buyer? What should I do?

OP posts:
Notonthestairs · 28/06/2022 15:36

I assume there will be other people bidding on your dream house. Would you be ok if you didn't get either house?

YouOKHun · 28/06/2022 15:37

the sellers said that they changed their mind and want to wait until they've found their new property before completion (so effectively putting it in a chain)

the sellers did what suited them best, now you do what suits you best.

SummerPuddings · 28/06/2022 15:38

Pull put. It's business. It's your home. Not about feeling bad. Someone else will buy the first house 🤷🏻‍♀️

Piffle11 · 28/06/2022 15:44

The only reason you are able to consider this dream house is because the original seller has messed you around… Do what is right for you and do not feel guilty.

MumbleAlwaysMumble · 28/06/2022 15:53

The sellers changed the rules.

Do what you want!

lamaze1 · 28/06/2022 16:17

By changing the agreement and making the sale subject to a chain, the sellers introduced the risk you'd find something else. Had they completed when they were originally meant to, then this wouldn't even be an issue.

I would go for the new place and not feel remotely sorry for the old sellers. Harsh but as I said, they have created this situation.

WhereYouLeftIt · 28/06/2022 16:20

"I feel terrible for letting the old sellers down so late in the process, ..."

Why? They let you down and kept you hanging on for 5 months, I very much doubt they felt terrible at all - so why do you?

Personally I would pull out of this transaction and pursue the dream house.

DogsAndGin · 28/06/2022 16:20

Put an offer in on the dream house and take it from there.

PerfectlyQuiet · 28/06/2022 16:24

I think you would regret not trying to buy the dream house. I'd stall for a few days and see if you get your offer accepted.
I'd feel bad about it but I'd feel worse buying the less good house because I felt some misplaced loyalty to the old buyers.

It's shitty to pull out of a sale but sometimes it can't be helped.

m00rfarm · 28/06/2022 18:01

Go for the dream one. Why feel guilty? If the original house owners ask, then tell them - you started to look as you had waited long enough. If you don't get an offer accepted on the dream one, then you can go back to the old one - the prices are no longer going crazy and you have all the documentation so are ready to proceed. They will not find anyone more quickly than you. And if they lose their purchase, that is their fault and not yours.

ChessieFL · 28/06/2022 18:45

How would you feel if you pull out of house 1 and then dream house also falls through for some reason? You may not even get an offer accepted on dream house and then you would have lost house 1 for nothing. If you can live with that then pull out and go for dream house.

rainingsnoring · 28/06/2022 19:25

Do what suits you. Put an offer in on the dream house and take it from there. The sellers have taken a risk messing you around and keeping you hanging on for months. If it falls through it is because of this.

FreyaStorm · 28/06/2022 20:03

I think go for your dream home. Will you have to pay any conveyancing fees? When I pulled out once due to a bad survey my solicitor charged me about £1,500 even though the deal didn’t go through.

Eatthecake80 · 28/06/2022 20:38

Go for the dream house,we hate the house we settled for,we’re selling as soon as we can!

Sallypally0 · 28/06/2022 20:41

They have messed you around so go for the dream house.

ZaraSizeMedium · 28/06/2022 20:48

Go for the dream house.

At the very least, delay exchanging on the current house until you're sure that you have an offer accepted on the dream house.

They've made you wait 8 months, they'd have a damn cheek to start whining because you are making them wait another couple of weeks.

Delectable · 28/06/2022 20:50

Put an offer in for the new one. Tell the old EA to give you a couple of weeks to revert re exchange.

Wheresmywoolyjumpers · 28/06/2022 21:20

Dream house. The first sellers should have been honest.

GettingItOutThere · 28/06/2022 22:49

dream house - offer and at least try first!!

Pamela83 · 29/06/2022 09:38

Thanks all - I've put in my offer, fingers crossed :)

OP posts:
WhereYouLeftIt · 29/06/2022 11:07

Woo hoo!! Good luck Pamela!

Pleaseletmeconfirm · 29/06/2022 11:52

Good luck!

Minimalme · 29/06/2022 13:00

Will you be liable to pay the conveyancing fees op? If you are don't forget to factor that into what you can afford to offer on the new place.

Pamela83 · 29/06/2022 18:30

Update: My offer got accepted =)

Yes, more survey and conveyancing fees, but hopefully worth it, if I can get the home I want.

Thank you all for encouraging me to go for it!

OP posts:
Pleaseletmeconfirm · 29/06/2022 18:36

Oh my! That's exciting. Good luck

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