Help I want to back out of house purchase

[MoonMagic]

In brief - bid for, and won, a house (in Scotland) last week.

Due to circumstances we now wish to back out of it.

Missives etc not complete - can I back out of it?

This is urgent, please help. I am sooooooooooo stressed.

yes you can. sooner the better. everyone will be v. pissy but i don't think they can do anything without missives. if youa re quick they can offere it to next bidder

having said that. a verbal contract is legally binding in scotland but i honestly think if you act quickly so they can offer it to next bidder you will be ok.

Will they sue me?

10 years ago they would have.

have you had a survey? the great get out clause is to survey the property and then pull out cos the windows are crappy or some such

What is the outcome of my cancellation?

Would they take action against me?

Would I have to recompense seller?

My decision making is atrocious, moving house due to my inability to cope (I think I have PND, 2 DSs, age 2.6 and 11mo)

God I just can not cope at the best of times, both DSs ill, DS2 in A&E at weekend with nasty allergic reaction.

Survey all fine, the mortgage lender has accepted it. In Scotland the home report survey is done by the seller when property goes on market, a single survey.

Christ I am panicking....

Yes you can pull out of it as the missives have not been concluded.

Do you not have a solicitor you can speak to about this?

Yes, I bid thru a solicitor, but I am just terrified to do so. It's not like going back to a shop and "unshopping"

I am so stressed it's untrue. Have lost weight since purchase on Friday.

Called solicitor earlier but DS1 was screaming so had to call him back.

Am very concerned how much this will cost us.

listen , just phone solicitor and say you want to pull out.

As long as missives haven't been concluded, you aren't liable for any financial penalties (you'll have to pay your own solicitor's bill of course). You need to talk to the solicitor asap!

Is that true in Scotland too?

Is that true in Scotland too?

Have called solicitor. Actually quite painless. Cited personal circumstances. Horrible.

Thank you all for your help - it has been exactly what I needed.