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Original poster

Should we pull out of purchase - vendors taking the p***

45 replies

Anevilintervention · 17/05/2023 20:31

We offered a while back on a house which ticked many of our boxes and really liked, but didn't love, it. Our offer was accepted at 20k over asking. Our vendors went back on the market about three weeks ago as they were worried about losing their onward purchase as their own vendor (top of chain) was unhappy that the person at the bottom of the chain hadn't found a buyer yet. We waited about as tbh there wasn't much else at the time that we were interested in.

Anyway, bottom of the chain announced today that they have their buyer and the chain is complete however, when our EA called over to our vendor's EA to tell them the good news, they were told that our vendor has decided to stay on the market for the time being as they have a few more viewings coming up and want to see if they can 'get a better offer'. In other words, have their cake and eat it!

We're pretty annoyed at this as the chain is finally, after months of waiting, complete and everyone is in a position to set a moving date etc. We're now debating whether to issue an ultimatum first thing tomorrow - take the house off the market or we walk away. There are a couple of other houses just coming to market which may meet our needs just as well as this one, so other options seem to be out there at present.

Would it be bad form for us to pull out, or is it our vendors who have the bad form?

OP posts:
PastTheGin · 17/05/2023 20:35

Your vendors are taking the mick, call their bluff and walk away.

kokotheguerilla · 17/05/2023 20:36

They’re being dicks. It’s really poor form on their part now the chain is formed. I’d issue the ultimatum and then if they still refuse to take it off the market, I’d walk.

Changingplace · 17/05/2023 20:39

I’d book in to see the other properties first thing tomorrow, and tell them first thing your offer is off the table unless they confirm by 12noon and mean it.

Cheeky bastards!

dudsville · 17/05/2023 20:39

I would withdraw and if they're still willing to sell to you properly i would agree to do so at the selling price, not the 20k hike. You can risk this as the house isn't a dream home.

Wheredideveryonego · 17/05/2023 20:40

I think if I were you I'd play the same game they are. Book in viewings at some other houses, but don't pull out of this one yet just Incase!

Most places prices have dropped recently so there's a fair chance you'll find something else out there

LindorDoubleChoc · 17/05/2023 20:44

Silly vendors. This is how entire chains collapse. They are taking a massive gamble.

IcedGemsandPartyRings · 17/05/2023 20:50

I don't really understand why they'd have accepted your offer in the first place, you were not proceedable without a complete chain beneath you?

But anyway, if the house is still on the market, they have effectively left your offer on the table. You have nothing to gain and nothing to loose. Carry on looking (remember you are now in a much stronger position to make offfers) and if they come back, make what offer you feel is right.
I hope you find a house you do love.

Ccvyvyan · 17/05/2023 20:52

Wow they are cheeky f*ckers!!

Modda · 17/05/2023 20:59

Not bad form at all. I would say off the market by 10am or you're withdrawing your offer.

KievLoverTwo · 17/05/2023 21:09

I would pull out completely because who knows what bastard tricks they are going to pull at the final hour, i.e. asking for another 20k the day before exchange.

You get one chance to be trustworthy in a falling market. They burned theirs. Burn their bloody chain.

Sotiredmjmmy · 17/05/2023 21:31

See it from their perspective - you were not proceedable until today, in a lot of ways you and the chain below are the ones that have been holding things up and being the CF expecting everyone above to incur costs etc on the hope that the chain would come tougher.

The chain above have been sitting there speculatively, that’s all, they are not committed. They have done the only thing they can, stayed on the market to help get themselves proceedable for the chain above. 99% people would do the same thing. They may well be totally fed up and not want to now jump and be expected to push on ahead all of sudden because the chain below is finally in a position to do so.

If they are still marketing then you are not really under offer on the purchase, you should really have already put your legals on hold until you got the go-ahead that your sellers were going to proceed with you.

If the buyer at the bottom is only just in place today then the chain is definitely not yet in a position to agree dates, or even discuss them - the legals at the bottom are only just starting, it’s likely weeks yet

Yes it’s horrible and stressful for everyone, but unless the person at the bottom had a buyer and lost them previously why on earth has the chain above even happened and progressed yet. It just sets everyone up to fail

tailinthejam · 17/05/2023 21:50

Cheeky gits. I suspect they are hoping that you will offer them a little bit more.

I'd go and view these other properties if I were you.

senua · 17/05/2023 22:58

I think if I were you I'd play the same game they are. Book in viewings at some other houses, but don't pull out of this one yet just In case!
This. Just because they have done something, it doesn't mean that you have to immediately react. Have a look around and see what your options are. And don't respond to the vendors yet, leave them guessing a while.

Original poster
Anevilintervention · 18/05/2023 06:47

A few of you are right, we dont owe each other anything seeing as nothing has actually been signed yet. We are not in England btw, it's not 'usual' practice to work the chain up from the bottom but if it does happen that way then great. Not sure about the 'us being the CF' comment - they were under no obligation to accept our offer, yet they did.
We will definitely look at other properties, one is only five doors away from the one we originally offered on 😬 but it offers us both a better layout and more for the same cash (no having to walk through the kitchen to access a bedroom, for example!)

OP posts:
TwoTowers · 18/05/2023 07:26

Aren’t you the bottom of the chain in these circumstances, or had you not found a buyer?

Original poster
Anevilintervention · 18/05/2023 07:34

No we aren't bottom of the chain, our buyer's buyer is. The sale at bottom fell through and it took a few weeks for them to find a new buyer

OP posts:
Original poster
Anevilintervention · 18/05/2023 15:50

Update - had a call from EA to say that the house is coming off the market and the vendors have also apologised. Looks like this move might actually happen!

OP posts:
DRS1970 · 18/05/2023 15:54

I would tell them to f off. They are really taking the piss.

KievLoverTwo · 18/05/2023 16:18

Anevilintervention · 18/05/2023 15:50

Update - had a call from EA to say that the house is coming off the market and the vendors have also apologised. Looks like this move might actually happen!

Haha, I wonder if they saw this thread?

Drivesafe · 18/05/2023 16:29

I’d still look at the other house I would t be able to resist.

IDontWantToBeAPie · 18/05/2023 20:43

I'd say no thanks and offer on the better house

Twiglets1 · 18/05/2023 22:35

I’d still look at the other houses but not mention it to the EA unless you find you prefer one of the others and go for that one instead.

NutellaNut · 18/05/2023 23:02

I’d still look at the other houses but not mention it to the EA unless you find you prefer one of the others and go for that one instead.

This^^ The vendors have shown themselves to be tricky at best. If you don’t love the house, something better maybe around the corner. Don’t limit your options, they have proved themselves to be greedy and unreliable. This doesn’t bode well for the sale. Do what’s best for you.

SheilaFentiman · 18/05/2023 23:17

Ok, I don’t think they are tricky, and they have apologised. I suspect after your buyer’s buyer fell through, they were getting pressure from their end and had almost resigned themselves to needing another buyer. They should have been more positive yesterday but they have shifted mindset within 24h and apologised. Don’t torch the whole thing as any other house you offer on will be in a different chain etc.

caringcarer · 19/05/2023 00:12

They are being unfair. If there are other houses you like out there I'd be ringing the EA first thing in the morning and withdrawing your offer. Buy one of the other houses. You offered £20k over the asking price in a market with house prices dropping. They are just plain greedy. I'd bin them off as they would not commit. I wouldn't be able to trust them now.

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