Vendor pulled out at exchange

[JH20000]

Vendor pulled out 30 minutes before exchange. Devastated.
I’ve spent over 3.5k in legal and survey fees.

please tell me it gets better. I’ve wasted 5.5 months to get to this point

I realise this isn't the point of the thread, but I'm confused about the '20 minutes before' and '30 minutes before'

I didn't think exchange was scheduled to take place at a particular specific time? It just sort of happens when it happens?

I know this is of no comfort to the OP, but i purchased homebuyers insurance from Rhino Home Protect. Our buyers pulled out, and they reimbursed incurred expenses pretty quickly. It was around £100 to purchase.

I think I'm going to look into this. Thank you. Same position as the OP. Our sellers changed their minds right as everyone was finally ready to exchange. Our buyers are holding on for us for now but I'm not sure how long for. People are such dicks. Hope karma bites them on the arse

i was told by my solicitor that it would happen at 2pm on xyz date and I got a call at twenty to two to tell me they’d pulled out. That’s all I know.

my solicitor is extremely fastidious though so that may be unusual.

I think technically exchange is arranged for a specific time, as the two sides' solicitors have a call and read out the contracts to each other, to confirm the details and completion date (if different). Then the contracts are dated.

Exchange is always scheduled, once it's agreed it will happen.

But how quickly you get there is generally driven by whichever side is lighting a fire under it to make sure it happens. Once the survey and searches have been completed to satisfaction, there is no reason that Exchange need be delayed further by either party.

It doesn't take 5-6 months for survey and searches to come back, so if things are dragging on that long neither party is particularly committed.

An extremely fastidious conveyancer!!! Please can you share their details as I've never had such luck 😅

It happened to me. 22nd December we were supposed to exchange and move. She pulled out that day. I was so angry! I was also pregnant and going through a bereavement so very stressed.

We eventually sold and I gave birth 2 days after we moved!

I still haven't forgotten what a shitty thing that woman did (there was no excuse really, she just changed her mind!) and my son is 22 now!

Similar experience to what happened to me . 30 minutes before the estate agent contacted me to say the vendor had just been on the phone pulling out.

I’ve got a viewing for a property directly opposite the one originally being purchased! Managed to get a viewing for later today so fingers crossed.

solicitor notified me the day he said we were ready to go. We had been waiting three weeks for her solicitor to respond to something.

I had the signed contract and deed/transfer of land registry etc in the post that afternoon.

I know. He’s marvellously anal and detail Focused and does what he says he will when he says he will. I do rather love him @Pixiedusty

Sadly no.
The system is terrible and stressful for everyone

The vendor wouldn’t have these to have to pass on because they are done by the buyer. I mean money though not paperwork. Not many vendors that charge their mind about selling are going to reimburse a buyer for the wasted money on surveys

It is and a horrible position for OP to be put in so close to the end. Unfortunately that’s a risk we all take that it’s going to go through because until contracts are in there is nothing to stop people changing their minds

Mine collapsed with 48 hrs to go. I had to take the day off work and drive to Cornwall from London to see my bank manager about a bridging loan (this was about 5 yrs ago) to keep the chain going. Again there had been lots of niggles with the survey, the boiler, what would be left….

I managed to sell within 2 weeks for an extra £15k.

I’ve got a viewing for a property directly opposite the one originally being purchased! Managed to get a viewing for later today so fingers crossed.

Are you sure that's wise? I don't think I could let go of the hate and anger if I got to see her every day even if the new house was better.

I think with Homebuyers insurance you can only purchase it within 2 weeks of MOS

I am so sorry this happened to you OP. I know how it feel and I had to take few days off from work as I was so very sick mentally after the shock of happening this.

To give you hope this is our story.

Our vendor pulled out on the day of exchange. Instead of the call from the solicitor saying we have exchanged, I got a call from the estate agent saying vendor pulled out. The reason given was that vendor was emotionally attached to his dad’s house that he has been renting out for past 15 years. Since our vendor insisted on a quick completion after exchange, we had only 5 days in between. So we booked the mover and basically packed the whole house. Our own buyers were having a baby and already rented their house and moved in with their parents. So they were becoming homeless with a new baby. I think it takes and exceptionally selfish and a vile person to pull this kind of a stunt.

We started looking for houses to rent ( our shitty vendor has put on the house we were going to buy for rent the movement he pulled out, how bad it can get!) and lost about £7000 in the whole process but we found our dream home in 2 months after and we could get it for much less price too. We now live in our dream house and very happy. I feel like we should be eternally grateful to our bad vendor for his stunt.

Yes other people said the same, did view the property and liked it and going back for another viewing tomorrow but still not entirely sure about it all. I’ve been too emotional to make any big decisions!

Glad it worked out for you in the end.

It’s such a stressful process isn’t it? My stress levels have been through the roof this week.

What is MOS?

Memorandum Of sale

you have to take out the insurance within 2 weeks of getting this from the estate agent