Sale Agreed- can we pull out? What costs?

Easttoeastish

We’re sale agreed on a property. Between the jigs and reels our gut is telling us to pull out.
It’s been niggling for a while and the whole process has been delayed which hasn’t helped.
We are nearly 8 weeks since offer accepted and nothing has moved.

Where would we stand if we pulled out now?
Other then it being a massive pain for the seller?

davo2001

Nothing stopping you pulling out as there are no contracts, your deposit should also be returned in full.

Spanish Eyes

AFAIK Sale Agreed has no binding obligation on either side, and until you sign the contract you can pull out at any time.

Better to do it sooner rather than later, then you won't be paying for surveys etc.

Go with your gut feeling, it is a huge emotional and financial committment to get wrong.

Ursus Horribilis

If you've not signed contracts, you can back out without any cost to you. The estate agent is obliged to return the booking deposit in full.

Odyssey 2005

If you're not comfortable, pull out. As said above, no contact signed so no repercussions.

happyfriday74

You can pull out with no penalty at all.

Easttoeastish

Thanks everyone.

I feel awful for the seller. It’s obviously been 2 months for them where they thought they were home and dry but I can’t shake the feeling.

We’ve only paid a booking deposit to the EA. Hopefully we can get that back.

Survey was due to happen this week but he’s put us off again.

2Mad2BeMad

Easttoeastish wrote: »

Thanks everyone.

I feel awful for the seller. It’s obviously been 2 months for them where they thought they were home and dry but I can’t shake the feeling.

We’ve only paid a booking deposit to the EA. Hopefully we can get that back.

Survey was due to happen this week but he’s put us off again.

They will find another buyer . Youd be in a worse position if you bought it then ended up hating while having to fork out money for the mortage. It's one of the biggest decisions you'll ever make so back out now while it doesn't cost you anything.

listermint

Easttoeastish wrote: »

Thanks everyone.

I feel awful for the seller. It’s obviously been 2 months for them where they thought they were home and dry but I can’t shake the feeling.

We’ve only paid a booking deposit to the EA. Hopefully we can get that back.

Survey was due to happen this week but he’s put us off again.

I don't understand your reasoning though.

You've no survey done yet. So what has he put you off on?


You've a gut feeling about what specifically? The long process ? I think the average is 4 months in Ireland.

Easttoeastish

listermint wrote: »

I don't understand your reasoning though.

You've no survey done yet. So what has he put you off on?


You've a gut feeling about what specifically? The long process ? I think the average is 4 months in Ireland.

Nothing specific. But it was always on the compromise side of things. The longer things go on the more I’m regretting compromising so much.
Like I said. Nothing specific. Just niggles.

Kenno90

I'm surprised after 8 weeks nothing has moved forward. Im sale agreed 3 weeks and there is not much left to do. Expecting to sign contracts next week.

Go with your gut on this, you'll find something else

Easttoeastish

Kenno90 wrote: »

I'm surprised after 8 weeks nothing has moved forward. Im sale agreed 3 weeks and there is not much left to do. Expecting to sign contracts next week.

Go with your gut on this, you'll find something else

It’s odd.

I remember the last time we were moved in and everything in 7 weeks.

They dragged their heels getting boundary maps in etc. It’s obviously worked in our favour if we are going to pull the plug.

Ursus Horribilis

I backed out of a house purchase because I started getting those niggles. In the end, I discovered there were valid reasons for them. Before that it was just my gut screaming at me the there was something not right. They were absent when I bought my house afterwards. If a house purchase doesn't feel right, don't buy. It's not the only house out there. I'm sure the seller won't have any great trouble shifting the house once you back out.

Easttoeastish

Ursus Horribilis wrote: »

I backed out of a house purchase because I started getting those niggles. In the end, I discovered there were valid reasons for them. Before that it was just my gut screaming at me the there was something not right. They were absent when I bought my house afterwards. If a house purchase doesn't feel right, don't buy. It's not the only house out there. I'm sure the seller won't have any great trouble shifting the house once you back out.

That’s reassuring. Thank you. And glad it worked out in the end.

Toots

Is it the vendor that's putting off allowing the surveyor in? That would be ringing alarm bells for me.

Sunrise_Sunset

If you pull out of a sale at the point of sale agreed, would you have to pay the solicitor, for the work they had done thus far?

Akrasia

Sunrise_Sunset wrote: »

If you pull out of a sale at the point of sale agreed, would you have to pay the solicitor, for the work they had done thus far?

Of course

Sunrise_Sunset

Akrasia wrote: »

Of course

I would presume the same, but no one else mentioned it.
I'd imagine the OP could be out of pocket for the solicitors work, but not much else.

Dolbhad

Sunrise_Sunset wrote: »

If you pull out of a sale at the point of sale agreed, would you have to pay the solicitor, for the work they had done thus far?

Yes - if your solicitor has done work they will charge you and that’s fair enough. An engineer will charge you for a survey carried out even if you don’t buy the house. However most of the time their work only starts once contracts have been reviewed by your solicitor. If it’s just a case you went sale agreed and quickly pulled out before contracts are reviewed, they haven’t done anything and you shouldn’t be charged.

Easttoeastish

Just thought I’d update since there was recent posts.

We decided to proceed with the purchase however we are still no closer to signing contracts.
The engineer has reservations that the vendor is currently working on.
We’re not in any rush. If the works are completed at the cost of the vendor this could be the perfect property for us. If not, we’ll keep searching. No loss.

terrydel

Backed out of a house we were sale agreed on recently over a right of way issue, good house in a lovely area, we'd already paid for a survey and the solicitor has done some work so no doubt there'll be a bill for that, but I'm absolutely certain in my mind we made the right decision. Don't regret it for a second.

Dolbhad

terrydel wrote: »

Backed out of a house we were sale agreed on recently over a right of way issue, good house in a lovely area, we'd already paid for a survey and the solicitor has done some work so no doubt there'll be a bill for that, but I'm absolutely certain in my mind we made the right decision. Don't regret it for a second.

Rights of way seems to be a big problem! But it’s always best to spend the money and know the problems so you can back out than not and be stuck with the problem.

whiskeyman

I'd advice you to keep searching for other houses right up to the point contracts are signed.
Until then, nothing is secure.

If its been 8 weeks and they havent got contracts to you yet, I would suspect that they're playing games or something is wrong from their side.
If your gut tells you to pull out, do it. If you wait longer you might find that its the seller that pulls out...

the_syco

Easttoeastish wrote: »

If the works are completed at the cost of the vendor this could be the perfect property for us. If not, we’ll keep searching. No loss.

8 week wait, and now works are being done on the 12/13 week mark? Would I be correct in saying that there was/is planning permission issues that had to be/are being resolved, and that this is what's causing the delay?

segunar

Looking back on that period im laughing now. On these days people buying every available property as mad. Im with wife already had biddings on 4th property and cant win it :-(

I think no one wouldnt be so fussy now. Unfortunatelly its seller's time now. Really I shoud concider buy house before COVID-19. But who knew it?

James 007

This reminds me of the first time I bought a house, I was sale agreed 3 or 4 houses at the time waiting for one to fall my way. At the time if you saw the house & put in a bid of €381,000 you would pay stamp duty of I think it was 3%, I can't recall exactly. Any bid over the €381k & the stamp duty doubled to 6% approx.

One time I went to one house view, there was a few possible buyers there before me, just going in the door I asked the estate agent if they were any bids on the property, he said no, right so I'll put in an offer of €381k & he accepted it, I then went round to view the rooms in the house.

Eventually one fell my way & whilst I paid more it was probably the best one when I do look back on it now. You can pull out of any sale agreed house.

happyfriday74

You'll get a bill from your solicitor for the work they have done on your behalf but otherwise you'll be fine.

Emma2019

Many solicitors wont bill if you pull out if you're going to use them for the next property you go sale agreed on.

Depends on the solicitor and how much work they've put into it. If they haven't even had to look at a contract its unlikely they'll charge.

Wildly Boaring

https://www.boards.ie/discussion/comment/117839300#Comment_117839300

Yep

We pulled out of a purchase at sale agreed in 2017.

At 8 weeks no paperwork from them so we walked

Our solicitor didn't charge us once he got sale of our house. He got our subsequent purchase too.

gogo

In similar situation at the moment, sale agreed 9 weeks ago and no paperwork yet.. property is perfect for us and as deposit is fully refundable we are sticking with it but actively looking elsewhere as well.. if something else comes up, we will walk, if nothing does we have nothing to lose by staying put. Couple are elderly, so giving the benefit of the doubt and chance for them to start to move 30+ years of possessions etc …. But it’s wearing thin ….

Gael23

You might have to pay your solicitor for work already done but that’s the only loss to you