Don

Not trying to piss on anybody's party but that's the way the UK house mkt is at the moment. Buyers are really scared of getting caught out by a sharp fall in house prices - I reckon they're correct to be worried, too.

I think I read that one on Motley Fool, there's a guy there, Calcaria, who posts virtually every single UK newspaper article on the housing mkt and I tend to follow his links. www.fool.co.uk

Maybe it was in the RICS survey - Royal Institute of Chartered Surveyors

tracey.d

What a nightmare. Karma sent, also sent some to John and netta because they are in the same boat

Good luck to you both.

Tracey

snowbunny

Due to buyers changing their minds whether due to whimsey or a bad inspection/survey, or the buyers not being able to get a mortgage?

moneypenny20

Unfortunately as so many of us find out, no house is sold until the money has been transferred and you hand the keys over. It shouldn't even be described as sold by the agents. Sale Agreed would be better. Even after exchange it can fall through, some people just not worried about losing the deposit. It's a rubbish system but no one in power seems to want to sort it out properly. The changes in 2007 will make no difference to how some people behave.

logan

Karma on its way (I'll even remember to sign it!)...bummer

Don

I don't think buyers are normally changing their minds due to whimsy etc.

Many people - who bother to think about this huge investment in a house, tying yourself to a mortgage for twenty-odd years and borrowing large amounts of money; or alternatively, tying up a huge amount of your family wealth - are correctly concerned by the way that house prices have risen far faster and higher than in the past vs average incomes.

Far higher and faster rises in the past have ALWAYS meant big price falls soon follow and IMHO this time will be no different.

So buyers are worried about the commitment, worried about the effect that losing (say) 10% of £200K in a year will have on their lives, 20% in 2 years, who knows?

So they think again, realise that they can manage OK where they are until the mkt stabilises, or seize on the survey etc to pull out or plead financing problems or try a bit of gazundering to make it financially safer for themselves (and because they can, in a buyers' mkt).

Houses aren't sold until the money's in the bank.

scissors

karma sent sorry to hear about your predicament,it really sucks doesnt it,hope you have somwe better luck soon

tracey

joho

I hate buyers that string you along they are complete bastards. Why leave it so late, did they know you were moving to oz.

I'd give you some Kama. But can't remember how.

Jo

ROBnCAZ

We can sympathise completely here!

Bought this house 4 years ago, put on market approx 1 year ago at DOUBLE what we paid for it....have had 2 viewers in 1 year! Have now dropped the price by nearly £100K....

1 was a developer wanting to bulldoze the place and build 5 houses!! The other didn't have a clue what they were looking for so was just speculatively looking at virtually every house in the village!

No sign of a buyer on the horizon soon..............

storerg

Thanks everyone for all the kind words of support. The house has gone back on the market this morning, and I already have two house viewings this evening.

I will spread some of the Karma around later on this evening.
Cheers
storerg

Three P's

Good luck with the viewings, let us know how you get on!

Jenny

floss

Ditto from me - there are SO many of us on the market or about to go on the market or even just thinking about selling in the near future... this sort of thing is just scary. Karma sent to all of you.

storerg

The viewings seem to go OK, should hopefully get some feedback in the morning.

I have now sread the Karma around.

Now time for a glass or two of wine.

snowbunny

And they only get cold feet AFTER signing an agreement? They've had plenty of time to mull over things, but I guess in a rapidly changing market, if there are an excess of houses for sale, they can punt.

In the US you have 30 days from signing the agreement to closing.

Seriously

To the person who started this thread. I'm sorry about your buyers - this house buying/selling process is a mess.

I'm curious ... why are you leaving the UK?