Deal Fallen through...such a stupid system.

[BlueMR2]

You never know, the other person might pull out and you'll reduce your offer due to hassle and costs and get the house a few £k cheaper.

[blueg33]

RobDickinson said:

The UK system is st.

Here both parties agree and sign a contract, with conditions that need to be met, with severe penalties on both sides if someone pulls out. Checks can take a week, whole process can be done in 10 days. Much better.

Thats exactly the same as the English system, the only difference is the point at which you exchange. But you can agree to exchange with conditions, but no one thinks of that.

[russy01]

Part of me is a massive vengeful bd, so I'm already ready plotting plans to piss them off.

But at the same time part of me wants to just move on and find a new pad and let them have it - if it's not supposed to be etc.

The thing which pisses me off the most however is the "system". I've been shafted twice now.

Buying my first house - I made a deal and started proceedings, the gov had dropped stamp duty for my price level to get people buying. So all was looking good and I'd be £2k better off.
Several weeks in some tt come along and offered more all in cash, the solicitors wanted the extra cash as all proceeds were going to charity (deceased estate). So they cancelled on me and went with this bloke, the bloke disappeared and they never heard from him again - however the solicitors insisted they give this bloke 6 weeks to turn up with the cash.
So 6 weeks later they hadn't heard a thing and we got the thumbs up again, however by this date the gov. brought stamp duty back in, so it cost me another £2k. To top it off 10weeks later the gov. decided it was too early to bring stamp duty back so they dropped it again.
So this knobs offer cost me £2k! I see his companies vans about from time to time, going to let the tyres down one day!

[scenario8]

I must have forgotten a time when a stamp duty holiday period was halted and then re-instated. Without sounding too pompous, I don't have much delaings at that kind of value. When did that happen exactly?

(It sounds like you had a problem with politicians during that period mostly. Surely you can understand the logic behind the solicitors' actions?).

[prand]

russy01 said:

Part of me is a massive vengeful bd, so I'm already ready plotting plans to piss them off.

But at the same time part of me wants to just move on and find a new pad and let them have it - if it's not supposed to be etc.

The thing which pisses me off the most however is the "system". I've been shafted twice now.

Buying my first house - I made a deal and started proceedings, the gov had dropped stamp duty for my price level to get people buying. So all was looking good and I'd be £2k better off.
Several weeks in some tt come along and offered more all in cash, the solicitors wanted the extra cash as all proceeds were going to charity (deceased estate). So they cancelled on me and went with this bloke, the bloke disappeared and they never heard from him again - however the solicitors insisted they give this bloke 6 weeks to turn up with the cash.
So 6 weeks later they hadn't heard a thing and we got the thumbs up again, however by this date the gov. brought stamp duty back in, so it cost me another £2k. To top it off 10weeks later the gov. decided it was too early to bring stamp duty back so they dropped it again.
So this knobs offer cost me £2k! I see his companies vans about from time to time, going to let the tyres down one day!

What's your current position and ability to proceed quickly from this point - particularly compared to the other buyer (who as mentioned above, may be nowhere near a position to purchase yet)?

If you have a fair agent and a reasonable seller you may be able to present a strong case, that you are able to move as quickly and as flexibly as the seller needs, perhaps with a small increase in sale price as a goodwill gesture?

Also, if the house ticks enough boxes, and you really want it then why not divert more cash from DIY/Wedding to the house? If you are so desperate for the perfect house, then go for it, with everything you have, then worry about the other items later (wife to be may not agree...) e.g. £8k of DIY - is it really necessary to do all your planned refurb from day one? The house is obviously habitable...

[untruth]

russy01 said:

Just been browsing rightmove and there is a half decent looking 4 bed in Westbury sub mendip, might go have a nose.
We're looking at the wookeys/Westbury/Easton/Priddy etc - we'll just have to keep an eye out and hope our buyer (buying to let) is happy to hold on for a bit.

Russy, small world and all that... just looked on RightMove. One of the houses for sale is next door to the house I grew up in (and mum still owns), and one backs onto it. If you want some (very) local insight and info drop me a PM.

[surveyor]

It's not the system, but the people.

£10k is a lot of money for an ordinary punter to turn down.

[russy01]

scenario8 said:

I must have forgotten a time when a stamp duty holiday period was halted and then re-instated. Without sounding too pompous, I don't have much delaings at that kind of value. When did that happen exactly?

(It sounds like you had a problem with politicians during that period mostly. Surely you can understand the logic behind the solicitors' actions?).

I was 21 and it was my first house, so only £175k. It was all the way back in early 2010. I understand why they do it, but it certainly didn't help me, it would have really helped me and 20 yr old GF at the time who were desperately saving to make it work. Nowadays it seems like first time buyers get deposits chucked at them by the gov, all we wanted was £1750 stamp duty back!

As for the solicitor, yes I agree why they did it but it was handled very badly. We had a mortgage offer sorted and were ready to go at Full asking price. They then had one phone call from a local builders firm who wanted to buy it to sell on who offered £2k more, they didn't even go in and prove they had the funds. So the solicitors made no attempt to contact the guy and just gave them 6 weeks hoping this chap would come back - he didn't.

[russy01]

untruth said:

russy01 said:

Just been browsing rightmove and there is a half decent looking 4 bed in Westbury sub mendip, might go have a nose.
We're looking at the wookeys/Westbury/Easton/Priddy etc - we'll just have to keep an eye out and hope our buyer (buying to let) is happy to hold on for a bit.

Russy, small world and all that... just looked on RightMove. One of the houses for sale is next door to the house I grew up in (and mum still owns), and one backs onto it. If you want some (very) local insight and info drop me a PM.

I assume you mean Bell close? One of my work colleagues parents live there so I have some insight.
I'm tempted to have a look at both houses although I have to say I'm not completely sold on the close, ones £315 and the other £379 if we are on about the same houses.

[untruth]

russy01 said:

I assume you mean Bell close? One of my work colleagues parents live there so I have some insight.
I'm tempted to have a look at both houses although I have to say I'm not completely sold on the close, ones £315 and the other £379 if we are on about the same houses.

The 379 one is next door to the house I grew up in (converted barn to left of it). Used to go down the moors with the kid who lived in it! The 315 one I'm pretty sure I've been in too! Someone on Bell Close has got an amazing old 1920s (maybe 1900s even) car.

FWIW, Station Road is actually pretty busy (you've gotta love tractors in silaging season - I do, but that's another story) and Bell Close is quieter comparatively though a bit curtain peaky because of its cul de sac. The price difference is a bit baffling in that regard.

[untruth]

It's a great location if you've got kids though. I spent the best part of my youth time down the moors (straight down Station Road) frolicking in fields.

[russy01]

prand said:

russy01 said:

Part of me is a massive vengeful bd, so I'm already ready plotting plans to piss them off.

But at the same time part of me wants to just move on and find a new pad and let them have it - if it's not supposed to be etc.

The thing which pisses me off the most however is the "system". I've been shafted twice now.

Buying my first house - I made a deal and started proceedings, the gov had dropped stamp duty for my price level to get people buying. So all was looking good and I'd be £2k better off.
Several weeks in some tt come along and offered more all in cash, the solicitors wanted the extra cash as all proceeds were going to charity (deceased estate). So they cancelled on me and went with this bloke, the bloke disappeared and they never heard from him again - however the solicitors insisted they give this bloke 6 weeks to turn up with the cash.
So 6 weeks later they hadn't heard a thing and we got the thumbs up again, however by this date the gov. brought stamp duty back in, so it cost me another £2k. To top it off 10weeks later the gov. decided it was too early to bring stamp duty back so they dropped it again.
So this knobs offer cost me £2k! I see his companies vans about from time to time, going to let the tyres down one day!

What's your current position and ability to proceed quickly from this point - particularly compared to the other buyer (who as mentioned above, may be nowhere near a position to purchase yet)?

If you have a fair agent and a reasonable seller you may be able to present a strong case, that you are able to move as quickly and as flexibly as the seller needs, perhaps with a small increase in sale price as a goodwill gesture?

Also, if the house ticks enough boxes, and you really want it then why not divert more cash from DIY/Wedding to the house? If you are so desperate for the perfect house, then go for it, with everything you have, then worry about the other items later (wife to be may not agree...) e.g. £8k of DIY - is it really necessary to do all your planned refurb from day one? The house is obviously habitable...

My house is sold, the buyer is buying to let and has his mortgage offer. I have my mortgage offer sorted and was just having to wait for the solicitor to do the searches etc. I am ready to go and wanting to move ASAP.
This other chap has a buyer for his house (but is in a chain), he doesn't need a mortgage for the rest as his parents are giving him cash.
The vendor has no chain as he is moving into his parents house (who are going into an annexe he's built). So the proceeds of the sale is going into the bank (he's already retired).

I've already put my case forward and the chap (whilst apologetic) just wants the extra money. I offered an extra £2.5k (in cash or on the sale price) and he still said no, he wanted the extra £5.5k from the other chap.

At this point I had to draw a line. The house whilst nearly perfect for us is still only worth a certain amount, I'm not paying over the odds for it - I'm also only 25 and don't want to be spending every penny on the house.
We could throw in all our Reno money but this would still only match the other offer and he made it clear he would then try and get the other chap to outbid etc - he's just gone from being happy with my offer to a bit greedy.
Plus throwing all our cash in means we'd have to live in the house in its current state, which isn't great! I also have no sight of any spare money in the coming months with the wedding coming up, so the major works wouldn't get done for at least a year.

[russy01]

untruth said:

russy01 said:

I assume you mean Bell close? One of my work colleagues parents live there so I have some insight.
I'm tempted to have a look at both houses although I have to say I'm not completely sold on the close, ones £315 and the other £379 if we are on about the same houses.

The 379 one is next door to the house I grew up in (converted barn to left of it). Used to go down the moors with the kid who lived in it! The 315 one I'm pretty sure I've been in too! Someone on Bell Close has got an amazing old 1920s (maybe 1900s even) car.

FWIW, Station Road is actually pretty busy (you've gotta love tractors in silaging season - I do, but that's another story) and Bell Close is quieter comparatively though a bit curtain peaky because of its cul de sac. The price difference is a bit baffling in that regard.

We deal with a company in lodge hill business park, so have seen that it's pretty busy down there. I'll go have a look and see what they are like, only been on a drive by so far and I wasn't excited.

[Wacky Racer]

Would it be possible for the solicitors to give you a "credit" for £300 towards their costs of when you eventually find another house...(I understand that if they have laid out for disbursements, land searches etc, the answer would almost certainly be no).

[monkfish1]

I feel your pain. Just had the same done to me at the last minute. The difference was a lot more than 10K so im out.

As already observed, a deal is a deal in my world, but i think its a very small world.

I could get very angry, but it wont achieve anything.

My problem is suitable houses only occur very rarely round here. Which makes it even harder to take.

[russy01]

Wacky Racer said:

Would it be possible for the solicitors to give you a "credit" for £300 towards their costs of when you eventually find another house...(I understand that if they have laid out for disbursements, land searches etc, the answer would almost certainly be no).

I'm having this discussion tomorrow, but hopefully yes. If they are a pain they will be losing all the company work, so they best be considerate.

[Spare tyre]

Bid em up high drag it out, piss around and then change your mind

Perhaps get a mate to knock on the door and ask of its still for sale, people need to learn.

[anonymous-user]

Not being funny but if you've spent a few months negotiating then did you offer a lot less than their asking price ?
House prices are on the way up in most areas. No doubt theirs will be worth more now than a few months ago so it's not that surprising they got a better offer really.

[Durzel]

OP has said the property needs work so likely his offer reflected that, but also said that the other guy has said he's prepared to offer over asking so it sounds like OP's offer isn't that far off the mark.

You have my sympathies OP, however to play Devil's Advocate regards the whole "a deal is a deal" thing - you could've pulled out at any time up til exchange for any reason you chose, costing the seller ~2 months and whatever other preparations he/she may have made, so the door definitely swings both ways. I say this having myself recently pulled out on a property at exchange for personal reasons.

A deal isn't a deal until completion, at least in England & Wales (the Scots arguably have a fairer system)

[Dave_ST220]

Durzel said:

You have my sympathies OP, however to play Devil's Advocate regards the whole "a deal is a deal" thing - you could've pulled out at any time up til exchange for any reason you chose, costing the seller ~2 months and whatever other preparations he/she may have made, so the door definitely swings both ways. I say this having myself recently pulled out on a property at exchange for personal reasons.

A deal isn't a deal until completion, at least in England & Wales (the Scots arguably have a fairer system)

A deal is a deal once contracts are exchanged, you are then legally obliged to purchase the property. However the reality is even then things can go tits up & try chasing someone for money who then claims they have none!

You pulled out on exchange day, did you compensate all those involved?