Hi
We sold our house in April. Offer accepted on purchase in June. Should be exchanging soon. We have first time buyers who are in rented until October. Their mortgage offer will run out in November I think. I really don’t want to lose them in case we don’t get the same offer or even sell.
However - we’re having major doubts about the house we are buying. The seller has proven to be difficult and we just don’t feel like we can trust his word or that the house won’t turn out to be a bigger money pit than it appears. He said he would do certain things then didn’t because he’s run out of cash to do them. Other things he has done, I’m not sure they have been done properly. We looked at it again last week now it is empty and it is in a far worse state than when we offered. We asked for a price reduction, he said no and if we didn’t commit by the end of that day, he would withdraw from sale. He then demanded we exchange this week, but the solicitors say we’re not quite there yet. We feel he is hiding something. Just a gut feeling about how he is behaving.
There's another house for the same price, in a better location and it is immaculate. BUT - will we lose our buyers? In terms of mortgage, we will have to re-apply and potentially not be offered the same amount and higher interest rate. Or not be granted a mortgage at all! Plus the extra survey to pay for and wasted solicitors fees.
What would you do? Are we crazy for proceeding or crazy for pulling out? Thanks!