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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:
SaorsaSolasta · 29/06/2022 18:43

Congratulations!

Rtmhwales · 29/06/2022 18:44

Happy for you! Always go for the dream house. We've been in ours two years this august and I often just looked around and go "wow I love coming home to this house". It's so worth it.

lamaze1 · 29/06/2022 18:52

Congratulations and good luck! Let us know how you get on (if you want to of course).

rainingsnoring · 29/06/2022 19:01

Congratulations @Pamela83 . I hope it all works out for you.

BlueMongoose · 30/06/2022 12:52

Your original vendors went back on their word, after that, I don't think they have anyone but themselves to blame. You were more than patient, Fate intervened, and I think you had a clear moral right to go for the other house in the circumstances. Good luck with the second house.

DisforDarkChocolate · 30/06/2022 12:55

Eight months!!

Go with the house you like best.

MinnieGirl · 30/06/2022 17:31

Are you told the original house owners yet?

Porridgeislife · 01/07/2022 06:51

MinnieGirl · 30/06/2022 17:31

Are you told the original house owners yet?

She’s under no obligation to. Personally I’d wait a bit and make sure my new purchase was progressing before I backed out of the existing purchase.

SausageAndCash · 01/07/2022 08:09

Rather than looking at the moral issue, I would be looking at the risk to you.

Is the new house in a chain? You could wait another 8 months…

Will your mortgage offer last? Any new offer will surely be at a higher interest rate.

Have you got buyers waiting for you? Will they wait another 8 months (potentially)?

If new vendors want a couple of weeks to get more viewings / go to best and final, etc, will your current vendors re-market while you keep them waiting? In which case you potentially end up with neither house?

Only you know how much better the new house is in relation to risk.

SausageAndCash · 01/07/2022 08:13

Sorry OP, I missed your later posts in the bloody endless page refreshing and adverts that is MN on my phone.

Well done and GOOD LUCK!

MinnieGirl · 01/07/2022 08:23

Porridgeislife · 01/07/2022 06:51

She’s under no obligation to. Personally I’d wait a bit and make sure my new purchase was progressing before I backed out of the existing purchase.

So would I….
I just wondered if the OP had

sunnyside238 · 01/07/2022 08:33

Wow good for you OP

Your sellers were happy to mess you around so I wouldn't even feel guilty

joycies · 19/05/2023 17:44

Don't have any hesitation about hurting these peoples' feelings. They strung you along for months and that is one of the nasty thing sellers can get away with. Jump in, go with your heart !

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