Re: Selling your House.

All part of the nightmare of moving house.

It depends too on whether they have been refused their mortgage application or hit a snag with the survey .... or whether, rather underhandedly , they just say they want your house just to get you to take it of the market, in effect reserving it for them and turning away other potential buyers.

Hope your luck changes and another genuine buyer appears on the scene Swims.

Re: Selling your House.

Sorry about that Swims, but this is probably only the beginning, so better not get stressed this early.
I agree with Muddy & Mort, people back out for no end of reasons e.g. they find somewhere more suitable, the Searches reveal something they don't like, they can't sell their own property, financial issues . . . loads of things.

This is precisely why I said the other day, that I wouldn't start doing all that work they were demanding until I had a positive comittment from them, and not just a verbal one.

Re: Selling your House.

I've been out of the house buying/selling merry-go-round for years but it used to be that if anyone wanted changes ... they knocked that off the asking price and did the work themselves.
And I do mean changes that are detrimental to the property like uncompleted jobs or reduced it's value rather than personal preferences over a pond and decorating.

Are folk that pernickety nowadays?

Re: Selling your House.

Selling my old house was a nightmare , two buyers decided they didn't want it as one found a nicer house all this after solicitor work started . Eventually we had 5 viewings arranged over easter bank hol . On good Friday a man viewed and offered asking price insisting if accepted it must be taken off the market instantly this we did and accepted . On the Tuesday after Easter Monday estate agent rang to say he was now offering £2000 below asking price take it or leave it . We took the lower offer due to personal pressures . But wasn't it a nasty thing to do .

I wish you all the best it's a stressful.time

Re: Selling your House.

Don't talk to me about house buying and selling. We have had those who claim they are cash buyer and gone as far as exchange of contracts, then backed out loosing other potential buyers in the bargain.

Te scottish way as I understand it is once a price has been agreed the buyer cannot back out or at least has to meet all the sellers expenses and potential loss

Re: Selling your House.

[QUOTE=realspeed;1407091]Don't talk to me about house buying and selling. We have had those who claim they are cash buyer and gone as far as exchange of contracts, then backed out loosing other potential buyers in the bargain.

Te scottish way as I understand it is once a price has been agreed the buyer cannot back out or at least has to meet all the sellers expenses and potential loss[/QUOHi


Hi

Exactly right.

Re: Selling your House.

That really does sound a deliberate underhand bit of manipulation.

Re: Selling your House.

We were gazumped twice when trying to buy our first home, we got one eventually though. You will get one Swim.

Re: Selling your House.

You're lucky Swimmers, we can't even get an offer on our House, we have been trying now since January to sell our property and all we get is Time Wasters come round.

Re: Selling your House.

Sorry Swim. It happens over here too and it's just one of the headaches of selling a house.

The scenario you describe is why it is important for the real estate agent to keep marketing the house until closing. That keeps scheming buyers from trying to drive the price down.

Fortunately, the seller can retain the earnest money if they back out and there is no contingency in the offer (like being able to obtain a loan).