Due to personal reasons I am very reluctantly forced to pull out of a house purchase. I am at the stage of waiting for the vendors to complete searches on a property they will buy to enable a exchnage of contracts and completetion on the house i was due to purchse. A draft contract has been drawn up for my purchase but I have not signed anything and not paid out anything except valuation and solicitors fees. Please could someone advise on how to inform all parties in the best way possible?
I am on the otherside at the moment and I would prefer if my buyer just came out and told him they could not proceed so thaty I could put my property back on the market asap and and try to get another buyer.
Hi info please, best way to do this would be to inform your solicitor asap, so they can let the vendor know that you are no longer in a position to proceed - i would personally also tell the estate agent involved, but you don't have to do this if you dont want to! Whether you tell the agent or not, your bound to get them on the phone asking you questions!
Please, do this immediately though, that assuming your definitely not going to go through with the purchase, dont leave people thinking they've sold - they will want to/need to get their property back on the market asap.
info please, this situation is not unusual so don't be afraid to fess up. I can see this happening more and more as the uncertainty factor increases in many potential buyers.
