Page 13 | Exchanging tomorrow. Buyers just pulled out

Newhousename · 2023-08-14T20:29:58+00:00

It’s not about money apparently . They just went off the house. The night before. After five viewings and months of paperwork. &@£$**>%€ anyway. Trying to be practical. Does anyone have experience of those we buy any house type organisations? Please. Or any other thought that could help.

Original poster

Newhousename · 16/09/2023 16:41

Oh good luck @Jacquel666 everything crossed you get your happy ending too.

OP posts:

angela99999 · 16/09/2023 16:54

So pleased to hear your news @Newhousename, there are so many awful people out there - and a few depressing ones here on Mumsnet too! Hope your move goes well.

Loobydoobies · 16/09/2023 16:55

Your thread was posted the same day my buyers decided to gazunder us by £60k! Glad you got a happy ending. Hoping I'll be able to share one as well soon!

FlamingoQueen · 16/09/2023 16:58

Awesome ending! Congratulations

Sothisiit · 16/09/2023 17:13

Sorry to hear this, some people have low morals.
Relist and suggest to your next potential purchasers that they use the previous buyers solicitor for conveyancing since all the searches will have already been completed so might speed up the process for them and you.

tt9 · 16/09/2023 17:21

you have my sympathies OP. happened to me just a few weeks ago. there should definitely be a penalty for this kind of behaviour.

WhenTheMoonShines · 16/09/2023 17:26

Fantastic news OP! So pleased for you

RedLollyYellowLorry · 16/09/2023 17:46

whyisitallsohard · 16/09/2023 15:49

This is happening a lot. It’s cheaper to pull out and offer on a new house that’s more realistic (reduced a lot) for today’s market, not months ago. Buyers are a savvy bunch right now. Another seller on MN is complaining on a different thread how awful this is when it was their own fault for accepting an offer and taking months to find their own house 🙄 The market is rapidly moving even within a couple of months. If you got a new buyer, awesome, just pray they don’t do the same and get on MN get get ideas and they get a mortgage (that’s been the other issue - people can’t get mortgages despite accepted offers). If all goes well, I would also recommend you exchange pronto.

Edited

Crashytime and chrony is back i see!

they got more- that rather defeats your doom and gloom doesnt it?

Iamanisland · 16/09/2023 18:45

Congratulations @Newhousename that's such great news 😊

DontDareToGetOld · 16/09/2023 21:36

Newhousename · 16/09/2023 15:39

UPDATE. !!! Wanted to update for those of you kind enough to offer condolence or practical help to my desperate plea a month ago when my buyers dropped out on the eve of exchange. I put the house back on the market the next day and got an offer that day . We exchanged yesterday. And here’s the golden silver lining. -for 50k more than the first buyers! I don’t even think the £ covers the amount of anxiety the last month brought but it did pay for a LOT of champagne last night. I hope this gives hope to anyone in the same situation.

Fantastic bloody news OP. Enjoy your new home 😊

Housebuyingfamily · 17/09/2023 08:19

Great work OP and FYI @CrashyTime and all the other doom mongers 😊

50k more 🥳

Roselilly36 · 17/09/2023 11:32

Many congratulations. So pleased for you, enjoy the new home

billybear · 17/09/2023 12:17

amazing news i had similar happen to me a few years a go payer was a buy to let bully,kept asking for money off an already cheap house,i #i rang me up with a drop price or he woukld pull out i told him to drop dead , back on the market sold fotr a lot more money ,great news

bloodyfootprint · 17/09/2023 21:15

milveycrohn · 18/08/2023 12:34

@Wibbleswombat
"It used to be that everyone offering on a house had to do a survey, so the seller getting a Home Report was brought in to change that and it's ok."
No one, least of all a mortgage provider is going to trust a Home Buyers report. This is why it does not work (in the UK). Mortgage providers still required a valuation survey, and buyers still wanted a survey, which is done at the same time.

The home report includes a moderately detailed survey and mortgage valuation and mortgage providers do indeed trust the home report, that's why the system works. There's room for influential estate agents to encourage reports to be massaged to a certain extent, and the valuations are definitely 'encouraged' by the estate agents, but these valuations are accepted by lenders and so wild estimations and completely dishonest surveys aren't worth being blacklisted by a lender. A home report is not the same as an English home buyers report, so dismissing a system that is working very well because you don't understand it is rather foolish.

While it's undoubtedly significantly better than the nightmare sellers in England seem so often to suffer, there are many things about the Scottish property buying and selling system that are misrepresented and portrayed as being better than they are, but the home report system is one of the very good things about our system and should be cherished.

bloodyfootprint · 17/09/2023 21:16

OP, I'm thrilled things worked out so well for you. Karma is sometimes a lovely bitch 😊

NicLondon1 · 17/09/2023 22:21

That’s amazing OP huge congrats!
@Newhousename please can I ask, how did you get to exchange within 4 weeks..? Did they buy the searches from the previous buyer?
(Sadly it looks like our sale is about to fall through and I will need to move ASAP as daughter has stated her new school aargh)

Rapunzel91 · 17/09/2023 22:35

what brilliant news OP! Hope you’ll absolutely love your new home and how amazing you came out with more money 👏

Original poster

Newhousename · 18/09/2023 09:12

NicLondon1 · 17/09/2023 22:21

That’s amazing OP huge congrats!
@Newhousename please can I ask, how did you get to exchange within 4 weeks..? Did they buy the searches from the previous buyer?
(Sadly it looks like our sale is about to fall through and I will need to move ASAP as daughter has stated her new school aargh)

yes. they bought searches from previous buyer so we jumped straight to enquiries. soo much luck for yours. these things can work out...

OP posts:

Soonenough · 18/09/2023 19:41

So pleased that you have had a happy outcome. I remember how devastated and anxious you were. Lovely to hear of your happy ending .

BlueMongoose · 18/09/2023 21:09

Newhousename · 16/09/2023 15:39

UPDATE. !!! Wanted to update for those of you kind enough to offer condolence or practical help to my desperate plea a month ago when my buyers dropped out on the eve of exchange. I put the house back on the market the next day and got an offer that day . We exchanged yesterday. And here’s the golden silver lining. -for 50k more than the first buyers! I don’t even think the £ covers the amount of anxiety the last month brought but it did pay for a LOT of champagne last night. I hope this gives hope to anyone in the same situation.

Well done you for sticking to your guns. And sucks to the 'buyers' who overplayed their hand. Win-win.
Excellent news!

MonkeyChiselTree · 18/09/2023 21:11

So pleased for you!! Wonderful news. Obviously the +£50k is the icing on the cake but to pull it off must have been such a relief.