Akaubear

I can totally sympathise with you on this. Exactly the same thing happened to us this time last year (even down to the supposed bridging loan from our buyers). Removals booked, flights booked – plus resignations tendered.

What we ended up doing (after a lot of talking) was to continue with the removals, and have the stuff put in storage. We kept the essentials (sofa/telly/bed) – which we hadn’t intended taking anyway. We exchanged the one way tickets to return and had a fabulous holiday in NZ – which made us even more determined to live there.

We put the house back on the market, and were lucky to be able to sell it again. (And for £10K more than before…). It’s a lot easier to keep the house tidy when there’s nothing in it! This time we didn’t book the flights until we’d exchanged. We flew out in January, and now we’re happily living in New Zealand!!

I just thought you’d like to know that although it’s incredibly tough at the moment (I know!), there is light at the end of the tunnel.

All the best,
Nicola.

PS. To the person who said “why did you book the flights and removals when you had no contract� – ain’t hindsight a wonderful thing!

sundarize

The next scam proposed is just the same as PB touched on.

They want to lodge a £20,000 deposit with their solicitor to hold the place for 6 months.

I said "no way" to it being held by their solicitor - if the deal failed I could guarrantee the solicitor would give it back to them. As PB said, its held in "trust" but trust is something thats gone out the window!

I asked the guy whats the difference - he's still got to sell within 6 months. He replied that he would then only use his bridging loan at the end of the 6 months, effectively giving him 12 months.

I thought about this later and now agree with Jolyn - people who get bridging loans only do so to make them appear like 1st time buyers with ready cash - most have no intention of using them whatsoever. What this twat has done is get the price down on the basis of being a cash buyer, and now getting the 6 month breather at my expense.

Anyone want to buy a house ?

lynnj

Sundarize

It may seem like cutting off your nose to spite your face but i'd tell this f***er to get stuffed and get the house straight back on the market, you never know who might be round the corner willing to pay you what you want without the crap.

Good Luck
LYnn

sundarize

Thanks for that - it gives me some comfort that we can make something better out of this.

Im reluctant to take the guys offer of £20K deposit - if the market crashes, I could be stuck with a house worth £60K less and be 10000 miles away. Emigrating and setting up a new life on the other side of the world is bad enough without that stress!

Sunlover

Ummmmmmm sorry but what has the COUNTRY got to do with it ??????

Plenty of people who let you down in Adelaide too (like the pumber who was supposed to come last week and didn't , leaving us with a house an inch deep in water).

southerner

Kiwipaul,

I think the difference with England compared to Australia, NZ and Scotland, is that you get a buyer and generally have to take the house of the market when you accept their offer. It then takes at least 2 months on average to get an unconditional contract.

Any time during this period the buyer may change his mind, maybe because the market falls, because of personal reasons (relationship and job changes normally), or because he finds something better (because he is still free to view other properties). In some cases they try their luck and drop the price a few days before exchange.

It works both ways. Gazumping is where a seller has all the cards in a rising market, and then asks for more money before contracts are signed.

Getting an unconditional contract within 7 days, or getting a deposit on a conditional contract where the conditions are very specific, looks like nirvana to the many of us stuck in no mans land right now.

Anyway, the Uk Govt is trying to change it a bit in the next few years, but they are just scratching the surface with pre-prepared sellers packs. These might reduce the danger period from 2 months to 1 month, but no more.

southerner

Sundarize,

I sympathise with you, like I would sympathise with anyone caught out by England's house selling process and by a rogue buyer or seller.

But I must also say, you took a massive gamble booking everything up front, and you lost that gamble! You must have known the risks. Hard luck!

So please don't blame the buyer who pulled out for your other problems with the flights and removal company.

All the same, I wish you all the best in sorting out the mess. Maybe you could carry on with the move, and allow the house to sell in your absence.

There has been some evidence in the last week that the house market is firming up. Who knows, at the end of the day you might get a better price than before. You are due some luck!

markymark

What a nightmare !!!!!!!!!!!!

baldbutts

Know where you're coming from.We had to come here before our visas run out,leaving the property in the solicitors hands for our last buyers.They then pulled out after 22 weeks.
Now the current so-called purchasers are waiting for their buyers divorce settlement to come through,after telling us that it was an uncomplicated chain (and it's their sister buying,so they knew this)
You're right-there are tossers out there,and we have every right to slag em off.Just coz they find problems-what do they think they put us through.
It is easier to buy and sell out here,those "subject to finance" deals do exist,but just avoid em if you're selling,or you can put in a 48 hour clause where you tell them to stump up as you have another buyer.
We've had cash buyers who were fraudsters,buyers who haven't even put theirs on the market,the list goes to 6 purchasers in 15 months.Don't hear of many cases of this over here.

They are all tossers-shoot em

BB-now you've started me off.

sundarize

It was said in an earlier post that we were asking for trouble in making arrangements before we exchanged contracts, but that misses the point.

Under English law, anyone can back out at any time up to exchange. As the searches etc take so long, its usual for the exchange to be only 48 hours before completion anyway. Whichever way you turn, you have to take a risk as flights, shipping etc have to be booked well in advance.

Anyway, friends...... I've blown the f**ker out. I phoned him and said the deal is off, and he was almost in tears (good - hope his wife divorces him for being spineless git)

We taking solice from the following ;

Have more viewings lined up. Have advertised for more money and might get an increased offer.

At least we are not buying our dream home in Britain on the back of this, so there is no one else to let down.

My employer is relieved that he can keep me for a bit longer - I keep the car, fuel card, phone, laptop, pension etc for as long as it takes and I only have to give 1 days notice. (No bad eh?)

We have cancelled car hire, hotel etc and because we still have more than 14 days to go, no charge.

Gives us more time for exchange rate to recover (or worsen - yes thank you PB)

And.... I get to spend time with your guys !!

Oh, and if anyone wants to buy a lovely 4 bed house in a Derbyshire Village, try this one....

link removed for my security

Jolyn

Sundarize,

So glad you've found a way back to sanity from this mess. And hope the jerk who strung you along for so long never finds another house as nice as yours and regrets messing you about indefinitely! And wishing him a really messy divorce too...

If you can, get a longer completion time this time around to save you the stress of pre-booking everything. Maybe it's more difficult where you are but movers told us 2-3 weeks notice was plenty (having several choices of movers helps in case one can't do the date you want) and flights are OK at 4 weeks notice if you can be flexible and go anytime in the week or so before completion.

We contemplated booking everything too but I just can't cope with cranking up the stress levels any further. I've got a long list of things to do the minute contracts are exchanged: book flights, book movers, buy travel insurance, book temp accom in Oz with a list of phone numbers beside each one ready to go. Maybe that would work for you?

ACE - thanks for the sympathy! Our house is back on the market next week but keeping the current buyer going too. Estate agent thinks the extra pressure might help.

southerner

Nice looking house - hope the new leads come to something.

And I too hope the bloke gets a bollocking from his wife!

Itchyfeet

and that's part of the reason you'll be glad to go!
really feel for you - about time britain kicked it's buyers' asses into gear.
faye.

pommie bastard

Scotland is far diferent from England you place a bid and await to see if its accepted , then the sale is completed.
The problem with the UK market right now is very low interest rates and low unemployment has made sellers over price what their homes are realy worth , a home is only worth what a buyer will pay so if set the wrong price then the buyers will play the market .
Set a fair price and you will sell quick its too simple.

porkchop

No, The problem is the media hype on the falling house prices.
Buyers are standing off or expecting sellers to cut the price, in case house prices do fall.
Latest reports from Lenders and Land Regestry show house prices are still rising but at a slower rate. But the gullible general public believe the media. But then you are a great media fan arent you PB. Hope you get a bargain and prices dont fall.

PC