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Original poster

Would you pull out of this sale?

104 replies

Trainfromredhill · 26/08/2022 13:54

House ‘sold’ in early June- went to closed bids. 4 offers, lowest and highest chain free. We went for the highest. Was considerably over guide price (3 of the 4 were over guide price). Was assured they wanted a quick purchase- they were in rented. Mortgage and searches all done within 6 weeks. As far as we were concerned we were ready to exchange, and by this time we had moved out. 2 weeks later they announced they were booking their structural survey!!! I’d presumed they weren’t having one as it hadn’t been mentioned before. 10 weeks on from the offer the survey gets done, then they want a full heating and electrics survey. All done, few issues raised, conversation with EA along the lines of ‘you might need to accept a reduced offer’, but nothing official. Multiple emails from us begging for an exchange date……there is no reason to hold up any longer……but then there is. The buyers have equity in another property, they need this money to buy ours. The equity transfer hasn’t been completed. It’s going to be ‘a few weeks’. So they aren’t and never were chain free. The purchasers have also written to our EA telling them not to contact them for the next 10 days as they are ‘very stressed and on a holiday we really need’ and don’t want bothered with the purchase over this time. Im stunned with the breathtaking arrogance. DH thinks they are going to reduce their offer at the 11th hour and wants to pull out of the sale now and restart the process with a different EA. I think we should hang on for a month with the deadline to exchange in 3rd week of sept with completion within a week and inform the EA that if reduction in offer is mentioned we’ll pull out. I think both the EA and purchaser have behaved appallingly but pulling out now is potentially more stress and hassle for us than hanging in there. Thoughts?

OP posts:
PragmaticWench · 27/08/2022 08:18

I'd send that email today, I bet the estate agents are working.

RandomMess · 27/08/2022 08:26

Please phone the EA today, those 3 bidders may wish to come and view over BH weekend.

CornishTiger · 27/08/2022 08:48

I agree. I’d be on phone to EA at 9am telling him you want it remarketed and the other bidders contacted.

The CF don’t want contact. Well they can come back from holiday to someone else offering on the house then.

Also call the EA out on not doing their job.

RidingMyBike · 27/08/2022 08:50

EA will be working today - even if your one isn't, someone will be in the office and someone will be doing viewings. You can get hold of them today and potentially have one of the previous viewers view (or offer!) again by Tuesday. They've already got the RM details, they just need to change the setting to show it as available for viewings.

Thornethorn · 27/08/2022 10:09

Thing is, if there's a genuine problem other buyers will discover this on doing the survey and adjust their offer too. It might be quickest got the op to see this through. It's far more likely buyers will do a survey than not.

Thornethorn · 27/08/2022 10:10

for

Thesehills · 27/08/2022 11:07

This happened to a friend of mine. Five months later they were no further forward with their sale.

It was never a cash buy.

They pulled out and remarketed.

But the issue is with your estate agent. They've not established the buyers proof of funds correctly.

I'd pull out BUT I know nothing about your circumstances, it's a hugely personal decision.

Good luck with it all.

Endlesslypatient82 · 27/08/2022 12:36

Thornethorn · 27/08/2022 10:09

Thing is, if there's a genuine problem other buyers will discover this on doing the survey and adjust their offer too. It might be quickest got the op to see this through. It's far more likely buyers will do a survey than not.

This

plus when I was contacted mo the down the line to say a property I’d not been successful with in a sealed bid was now available - well, it was sort of tainted as I found myself thinking why did the highest bidder withdraw. What do they know that I don’t!

Added to which, previous bidders sure as heck won’t be getting the same mortgage rates now!

Original poster
Trainfromredhill · 27/08/2022 16:05

@Thornethorn the only ‘problem’ is that it needs a new boiler, nothing more significant. I’d happily disclose that from the start.

OP posts:
Endlesslypatient82 · 27/08/2022 16:09

Trainfromredhill · 27/08/2022 16:05

@Thornethorn the only ‘problem’ is that it needs a new boiler, nothing more significant. I’d happily disclose that from the start.

But op you said “issues”

implying more than one.

so the SS just highlighted one sole issue. A dodgy boiler?

TooMuchToDoTooLittleInclination · 27/08/2022 16:13

What you NEED is a hit man, ea, 2buyers, you should be able to get a good deal on the job lot!!

no advice, sorry, but it's definitely time for a drink 🍹

custardbear · 27/08/2022 16:18

I'd personally pull out - they're delaying and it smells fishy to me, buying themselves 10 days, bloody people!
Can you see if the other offers are still looking? Or put back on the market and see if there's interest. I think people who are awkward are not interested or only interested in getting a bargain

PeekabooAtTheZoo · 27/08/2022 16:34

Endlesslypatient82 · 27/08/2022 16:09

But op you said “issues”

implying more than one.

so the SS just highlighted one sole issue. A dodgy boiler?

Show quote history

Are you the absent buyer? This is property/DIY not pedant’s corner. 🤷‍♀️

senua · 27/08/2022 18:06

PeekabooAtTheZoo · 27/08/2022 16:34

Are you the absent buyer? This is property/DIY not pedant’s corner. 🤷‍♀️

Show quote history

Ahem, it's Pedants' corner.

<checks the post at least three times before hitting 'send'>
Grin

Original poster
Trainfromredhill · 27/08/2022 21:45

@Endlesslypatient82 the only issue we’ve been made away of is the boiler, which apparently has several leaks. We expected this.

OP posts:
girlmom21 · 27/08/2022 21:56

Trainfromredhill · 27/08/2022 21:45

@Endlesslypatient82 the only issue we’ve been made away of is the boiler, which apparently has several leaks. We expected this.

Did you make the buyers aware of this when they viewed?

Original poster
Trainfromredhill · 27/08/2022 21:59

@girlmom21 . Not explicitly, but there is a bowl catching the drips under the boiler- you can’t really miss it. We’ve just bought a house with a structural crack in one wall which will need £15k spent on it. Our sellers didn’t tell us, nor did we reduce our offer when the SS came back - we really wanted the house.

OP posts:
moistmingemist · 27/08/2022 22:12

Your house should be on RM. It uploads overnight so if it's not there dump the EA and refuse to deal with them anymore.

girlmom21 · 27/08/2022 22:15

Trainfromredhill · 27/08/2022 21:59

@girlmom21 . Not explicitly, but there is a bowl catching the drips under the boiler- you can’t really miss it. We’ve just bought a house with a structural crack in one wall which will need £15k spent on it. Our sellers didn’t tell us, nor did we reduce our offer when the SS came back - we really wanted the house.

See I think that would make me really nervous that there were other 'obvious' issues that I hadn't been made aware of and I'd expect a lot more to be uncovered once I started digging deeper

Salome61 · 27/08/2022 22:23

So sorry your buyers lied about being cash. I was downsizing and had a 'cash' buyer and everyone said I'd have to be prepared to move quickly, so I sold my huge and beautiful Tetrad sofa for a song. Bestard pulled out three weeks later, he didn't have any cash, his ex wife had it all in Sweden.

Donotgogentle · 27/08/2022 22:40

girlmom21 · 27/08/2022 22:15

See I think that would make me really nervous that there were other 'obvious' issues that I hadn't been made aware of and I'd expect a lot more to be uncovered once I started digging deeper

Show quote history

Well they’ve dug deeper with various surveys now. They need to move forward on the basis of that information or withdraw their offer. But of course they can’t move forward, because they don’t in fact have the funds to proceed.

If they’re actually deterred by a leaky boiler you need to bin them off asap op.

Personally I wouldn’t pull out, I’d test other buyers in parallel and see how that goes.

Monty27 · 27/08/2022 22:49

Trainfromredhill · 26/08/2022 13:54

House ‘sold’ in early June- went to closed bids. 4 offers, lowest and highest chain free. We went for the highest. Was considerably over guide price (3 of the 4 were over guide price). Was assured they wanted a quick purchase- they were in rented. Mortgage and searches all done within 6 weeks. As far as we were concerned we were ready to exchange, and by this time we had moved out. 2 weeks later they announced they were booking their structural survey!!! I’d presumed they weren’t having one as it hadn’t been mentioned before. 10 weeks on from the offer the survey gets done, then they want a full heating and electrics survey. All done, few issues raised, conversation with EA along the lines of ‘you might need to accept a reduced offer’, but nothing official. Multiple emails from us begging for an exchange date……there is no reason to hold up any longer……but then there is. The buyers have equity in another property, they need this money to buy ours. The equity transfer hasn’t been completed. It’s going to be ‘a few weeks’. So they aren’t and never were chain free. The purchasers have also written to our EA telling them not to contact them for the next 10 days as they are ‘very stressed and on a holiday we really need’ and don’t want bothered with the purchase over this time. Im stunned with the breathtaking arrogance. DH thinks they are going to reduce their offer at the 11th hour and wants to pull out of the sale now and restart the process with a different EA. I think we should hang on for a month with the deadline to exchange in 3rd week of sept with completion within a week and inform the EA that if reduction in offer is mentioned we’ll pull out. I think both the EA and purchaser have behaved appallingly but pulling out now is potentially more stress and hassle for us than hanging in there. Thoughts?

I had similar OP. The buyers threatened to pull out if I didn't go out and rent because I hadn't even offered on a property yet.
I refused and they reissued the threat. I refused again. I viewed a great property and had an offer accepted the very next day. Did another open day and new buyers are paying 25k more 🤷

Original poster
Trainfromredhill · 27/08/2022 22:54

@girlmom21 there is a planning application for 30 houses in the field opposite- we told all prospective buyers about it. I don’t think a replacement boiler really compares.

OP posts:
girlmom21 · 27/08/2022 23:00

Trainfromredhill · 27/08/2022 22:54

@girlmom21 there is a planning application for 30 houses in the field opposite- we told all prospective buyers about it. I don’t think a replacement boiler really compares.

It does if it's a few grand that they hadn't been told about. To me a boiler requiring replacing could lead to a heap of issues with heating systems that haven't been maintained. Buying a house coming up to winter with heating issues could cause a lot of grief.

I'm not saying their behaviour isn't shitty but I'd be concerned and be taking some time to consider my options.

Fifife · 27/08/2022 23:46

I would remarket as they sound like their heart isn't in it. The market is cooling in a lot of areas compared to June you might not get the same offers and bidding wars you previously got. Relist now before it further cools.

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