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Vendor pulling out

(17 Posts)
Galen Fri 10-May-13 21:19:52

Dd made an offer on a house. It was accepted. Surveys done. No exchange.
6weeks later vendor pulls out!
Money spent on surveys and contracts!
Dd is pregnant, having already sold her house she is now having to live with in laws which is stressing her and sil and DGD out!angry

glassortwo Fri 10-May-13 21:24:15

galen that happened to my Sister the day they were supposed to be exchanging contracts, its about time we had the same system as Scotland. Your DD must be so upset. sad

Galen Fri 10-May-13 21:28:49

She is. They are now looking at a 3 bedroomed house rather than a 4. I think she would do better with a 4.

Ana Fri 10-May-13 21:29:57

The system is terrible - either side can pull out before contracts are exchanged, and that can be delayed for sorry, Galen sad

Mishap Fri 10-May-13 21:31:58

That is so dreadful - there really does need to be a new system.

granjura Fri 10-May-13 21:37:11

Happened to us in 73- daughter number 1, 19 months born by emergency Ceasarian, me 7 months pregnant with number 2, with Ceasarian on the cards and no family to help - and OH working in new location 50 miles away, living in digs. Nightmare...

And then 4 years ago, buyer pulled out at last minute- us having already bought a house here in Switzerland and my mum dying in an old people's home here, and dad in great distress. The system in the UK really stinks! Bonne chance.

NfkDumpling Fri 10-May-13 21:37:27

That must have been so disappointing, to have got that far before pulling out is really mean. I agree Glass the Scots system makes far more sense. I do hope things work out better next time.

janeainsworth Fri 10-May-13 22:31:40

Well I agree our system is rubbish, and I am sorry this happened to your DD Galen
But the Scottish system of closed bids is not great either - you have to have a survey done before you can put in your tender and if someone else bids lower than you, you have wasted that money. That has happened to a couple of young people I know trying to buy their first property sad

gracesmum Fri 10-May-13 22:48:47

Granjura exactly the same situation with me (or as near as makes no difference) DD1 was 25months, DD2 3 weeks old (also C- section) us in tiny 1st floor flat which we were desperate to sell and DH had actually found a buyer while I was in hospital (1st purchaser having pulled out) and the house we thought we had bought had gone as a cash sale to the local Baptist Church!! There is something about sellling and buying houses which brings out the VERY WORST in human nature. Every sympathy flowers

nanaej Fri 10-May-13 23:02:47

My DD has a buyer for her house but cannot find a house to buy. V little in her price range where they need to live for school and SiL proximity to fire station. This is the 2nd buyer as the first pulled out as it was taking too long.

DD cannot afford to rent or come and stay here as she needs to transfer her current mortgage as it is a good rate..this will cease if there is a 'gap'. It is a frustrating situation. Houses locally are snapped up quickly as there is so little on the market.

inthefields Sat 11-May-13 06:35:04

Always so upsetting when this happens.

The only 'upside' is that she will now be a cash buyer and in an excellent negotiating position.

Not much consolation, though, if you have lost a house of your dreams.

positivepam Sat 11-May-13 10:57:42

I am so sorry to hear that Galen, I agree with everyone else, the system we have is very unfair. I agree that being a cash buyer will put your DD in a very good position and also, I am a very big believer that things happen for a reason and so there is probably a better house out there for her and I know that is small compensation at the moment, but it might work out for the best later. I just hope your DD doesn't now rush into buying the first available house that comes along because of the stressful time they are having. Trust me, I speak from experience on this as I did exactly that and then totally regretted it. I hope everything works out for the best. smile

granjura Sat 11-May-13 11:07:26

Gracemum, sorry to hear you 'know' what it's like. We were so fortunate though. First our buyers, who had taken time off to move and do some alterations, were great and agreed they could not put us on the street- which they legally could have done. I'll be eternally grateful to them. We then spent the next day in Leicester looking at every vacant possession house in the area we needed to be (for OH's job) and it was heart-breaking. At 5pm, exhausted, we returned to one of the Estate Agents and said we were so desperate but just could buy any of the properties seen - and he said 'I've got just one more - but it is slightly out of the area you've said is a must'. I begged OH to go and have a look - all the neighbours were great and welcoming, Betty next door cooked some fish fingers and chips for little one, whilst we were having a second look- and then made us some coffee, and offered to phone the owners, as they lived along our route back to Staffs. We went, sat around the farm table with another cup of coffee- agreed we would meet 'half-way' (over our budget... little did we know interest rates would soon soar to 19.5%) - and shook hands. We moved in 2 weeks later, Betty having cleaned the house top to bottom and lined the kitchen shelves! Bless her cotton socks. Baby born just under 4 weeks later.

nonnasusie Sat 11-May-13 11:55:19

Here if the buyer pulls out they lose their deposit. If the seller pulls out they have to pay the buyer twice their deposit!! Stops any messing about!!

Tegan Sat 11-May-13 12:42:08

My daughter has just sold a house. She was desperate for her son to go to a village school so put her property out for rental and bought a house in the village so they would get a place at the school. I can honestly say that the situation has been a nightmare for the past couple of years and was one of the reasons why we fell out last year as she was stressed and I was stressed by not being able to help her. We were emotional wrecks leading up to the exchange date. The system needs to change somehow. The only people that do well out of it are the estate agents and the solicitors. My daughter has now sold two properties since she's been on the property ladder and each time has assured the prospective buyer that they would in no way let them down [ie if they had a better offer etc] as it would be bad karma to do so. What goes round comes round we feel. I hope things pick up for your daughter, Galen; I can only feel sorry for her sad.

Galen Sat 11-May-13 12:42:10

She was a cash buyer with the one that has collapsed. She's being very fussy about where she wants to live.

inthefields Sat 11-May-13 13:51:41

PositivePam - "a very big believer that things happen for a reason"

I do so agree. Sometimes we never know what may have been avoided, but I am absolutely sure that everything happens for a reason.