Another house sale lost
Everybody is having a rant, so I want one too. Our buyer's buyer withdrew,decided to go back to uni and not take on this financial burden. The buyer is still keen, but really no good to us until she sells her property. The estate agent quickly took "sold" board off and we'll be waiting for phone calls. The sale is the only thing holding us here. We've started considering letting the house out, just need to do more research, add up all figures etc. No an ideal solution though.
I spoke to a guy who is a professional landlord and runs a property management company, he gave me all pros and cons and then said I could come up with my bottom proce and he'll either buy it or ask around amongst other vultures like him. So there are people around with cash looking for bargains, I just have to decide what my bottom bottom price is and see if anybody bites.
Rant over. All the best to others in the same boat!
I feel so sorry for you and everyone else who has lost their buyer. Having bought houses in both the UK and Australia I can honestly say that I find the UK system very open to abuse by some parties. I can't understand why the government hasn't tightened up the law to protect people and make everyone do the right thing. It's not like there aren't systems in use in other countries that they could learn from and use as models of how to go about it. It's not rocket science.
Whilst we are lucky to have exchanged our buyers dropped the price on the day of exchange.
Last edited by Aussie pat; 03-09-2008 at 07:21 PM.
They wouldn't have to far for a good example, I think Scotland got it right, once you offer and offer is accepted, it is a done deal.
Thanks for your kind words!
Thats about 3 of us in a few days.
We know how you feel
not true about scotland as not binding until missives are concluded which is roughly four weeks after the offer has been accepted. Happened to us twice one when we were selling - people pulled out after the legal work had been being done for four weeks and once when we were buying - I was five months pregnant and the day before concluding missives they changed the goal posts on the entry date and wouldn't agree so we ended up having to walk away and had to live with the inlaws. Both times cost us two lots of legal fees and endless stress so I am sorry but you are wrong about the scottish system.
Adelaide has the best system but we can't sell our Bloody houses here to try out their system
Oops! I got it wrong then.