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Original poster

Stressing that buyer is going to pull out

23 replies

prayforthecottransfer · 26/06/2023 14:28

We agreed a sale on our house 6 weeks ago. EA rang me to ask how our search was going.

We've been a bit unfortunate as the first house we offered on was declined because the owners wanted a smaller chain, even though ours was 10k more than the other people. The second house we offered on was declined also but we were then told that the owner's onward purchase wouldn't be available until next April, so that was a non starter for us anyway. We had a third house booked in to see next week. The day before the viewing, the EA told us that the owner's had sold off half their driveway (pictured in the images), and half their garden to people who were building their own house. They wouldn't provide us with any planning permission images (nor could we find them) to show what we would be losing. For that, we cancelled the viewing.

Hardly anything is coming up at all. Our EA (who are also our buyer's EA) were white arsey with me on the phone this morning about the situation. I'm not sure what more I can do other that refresh right move every 30 minutes and hope for the best! It's our forever home we're looking to buy and it must be right for us.

Anyone else in/ been in this situation?

OP posts:

DrySherry · 26/06/2023 15:04

I haven't been in your situation but I can see why you are worried about loosing the buyer. The chances are they are going to get fed up shortly. Have you considered looking at whats available above your current budget and then trying a cheeky offer at your max budget ? That's what I would be doing if you have exhausted all the possibilities in budget. You never know you might get lucky, seems to be hard to sell at the moment.

Dinkler · 26/06/2023 15:04

In that situation now as the buyer, I think as long as you keep communications going but depends on the situation of the buyer I suppose and reason for move. Did they not give a timeline to you when they offered? If not, it's a bit unfair to be arsey now. Although it might be the estate agent being arsey trying to make sure there's no issues?

Asian · 26/06/2023 15:08

Considering the available options or soon to be available options with the buyers, it makes sense to target early exchange and completion.

LadyJ2023 · 26/06/2023 15:13

Don't be forced into buying something you don't really want. The best thing I can suggest is what a friend and a family member did they rented for short term so they wouldn't lose a buyer this gave them the time to find the right house and not end up buying a quick house that would have been wrong for them

Dinkler · 26/06/2023 15:14

Yes agree with above, we are really keen to move but would not want seller to move into a place they didn't want at all, as long as we know what is happening.

Original poster

prayforthecottransfer · 26/06/2023 15:14

@DrySherry first house was our max budget and nothing available in that bracket either! Our first offer on the first house was rejected at the actual asking price!

@Dinkler no, they didn't. They actually asked for a 4 week buffer from us in order to sell their own house, but they actually sold within the first week.

OP posts:

User63847484848 · 26/06/2023 15:17

I think either you offer to go into rented if you’re worried about losing the sale, or you don’t do that and take the risk.
it’s all so stressful. What if you find something you like but those sellers need to find somewhere to buy and so on and so on!

Dinkler · 26/06/2023 15:19

Oh, well maybe it's the EA being pushy rather than the buyer?

Original poster

prayforthecottransfer · 26/06/2023 15:30

We don't really want to rent anywhere as we're locked into a 1% mortgage until end of 2026, so would be madness to give this up for the current rates.

OP posts:

whirlyhead · 26/06/2023 15:44

Could you not move into a rental? I agreed a sale on my current house several weeks before finding my next house (don't believe in forever homes myself - houses just suit the situation you are in) but if I hadn't found somewhere I would have just gone into a rental in order to keep the buyer.

whirlyhead · 26/06/2023 15:45

I have a 1.3% mortgage until mid 2025 which I'm giving up to move.

KievLoverTwo · 26/06/2023 16:06

You've had a run of luck OP, I'd be expecting some good luck to come around for you soon.

I would be picking up the phone or visiting on foot all the EAs in the area I want to move to. I'd give them proof of my mortgage offer and that my own home is sold STC. I'd say 'I'm a motivated buyer trying to stop a chain from collapsing, please call me before stuff gets listed on Rightmove above other, serious, motivated buyers only.'

I'd then call each of them weekly so you're in the forefront of their minds when they get instructions for new listings.

KievLoverTwo · 26/06/2023 16:09

Also, ask the EA who keeps putting pressure on you 'okay, what do YOU have that I might want to buy? What about your friends in the industry, what do they have coming up?'

If they're keen to make sure the chain doesn't collapse, perhaps they can pull their finger out and help you find a new home.

hettiethehare · 26/06/2023 16:12

It's probably the EA getting angsty as much as anything - our seller took 3 months not to find somewhere before eventually agreeing to go into rental and our buyers were furious as our seller's agent had pushed everyone in the chain to move ahead with legals so as not to delay things when the chain wasn't even complete!

Definitely speak to local agents - they may know of houses coming onto the market soon. We had tonnes of off market viewings whilst we were getting our last place ready to sell from all of the agents we approached.

Original poster

prayforthecottransfer · 26/06/2023 16:26

@KievLoverTwo I'd love to do this but we're actually relocating back to my home town which is 200 miles away. We're making the trip weekly to do viewings. Hopefully you're right though, I feel like we're due a bit of luck!

OP posts:

KievLoverTwo · 26/06/2023 16:33

prayforthecottransfer · 26/06/2023 16:26

I feel your pain. It's really tough having to move far away. We had to do it last summer.

I would still make the regular phone calls, even if you can't doorstep them.

Twiglets1 · 26/06/2023 16:38

I do feel that you are at risk of losing your buyer because in the real world, luck doesn’t work like that- you don’t get some because you deserve some or because you’ve had a run of bad luck.

I would say rent, but I can understand why that’s not a good option in your case. So all you can do is keep looking hard and reassure the EA that you are doing everything you can to find a house. Maybe widen the search area slightly. There isn’t a lot more you can do but keep communicating with the agent and tell them every time you have a viewing booked so they know you are genuinely trying as hard as you can to get moving.

Sophieheidi · 26/06/2023 16:51

Some years ago I was in a very similar situation. In the end I went through with the sale of my property and rented close to where I lived (so that my kids could continue going to the same primary school). Yes, it was a pain, the rental property was run down, and smaller than we were used to. But it ended up being a great decision. I had the money from the sale in the bank, and when finally a property I really liked came on the market I was in pole position. My offer was £5k less than the next best offer, but I was told it was accepted as I had nothing to sell. In this market I really would prioritise getting your current property sold.

Original poster

prayforthecottransfer · 26/06/2023 17:52

@Twiglets1 of course not, but I like to think positive!

@Sophieheidi it just isn't worth me renting. I'll be either paying my mortgage of in the next 6 ish years for holding out, or goodness knows how much longer with current interest rates as they are.

OP posts:

Twiglets1 · 26/06/2023 17:58

prayforthecottransfer · 26/06/2023 17:52

@Twiglets1 of course not, but I like to think positive!

@Sophieheidi it just isn't worth me renting. I'll be either paying my mortgage of in the next 6 ish years for holding out, or goodness knows how much longer with current interest rates as they are.

Think positive but keep doing those weekly viewings. And make sure all agents in the local area are aware that you have sold and are ready to go asap.

And think about extending the search area/being open to compromises if you possibly can

Beehavewillyou · 26/06/2023 19:33

Hi OP we are in this position! 2 months under offer and no further forward.

We look at anything that comes on, even if over budget and make a cheeky offer. We have a cash buyer so really need to keep hold of them.

what else can you do? It’s out of your hands unfortunately. The market has completely turned into a stalemate where we are, we’ve not looked at a house for 6 week! Would just like it to happen!

Jacquel666 · 12/07/2023 16:27

Our buyer put pressure on us for a quick move, so we went ahead and racked up solicitor's fees, had sales contract pack drawn up etc Also had an offer accepted on a 'do-er upper' tiny house that needed work & extensions rather than our dream forever home. Hurry hurry hurry for 6 weeks. All because we wanted to keep the buyer happy, as she wanted to be 'in by August'.
Well guess what ... the buyer abruptly pulled out on Monday :(
Just wanted to say that no matter what you do in the buying/selling houses scenario you can never bet on anything happening smoothly.
Hope all goes well for you x

UncleRadley · 12/07/2023 16:33

Can you still port your mortgage rate if you buy a new place within 6 months of selling? That's often (well sometimes) a clause. Might put a different spin on renting for a few months?

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