To be so cross at the vendor!?!(44 Posts)
So last year dh and i were given the opportunity to buy (we've been renting for years) we had just discovered i was pregnant and wanted our own place to raise our child. So by December we had found our new place and our third bid was accepted, the estate agents and had several times they were not needing the asking price, and we managed to settle 7 grand under the asking price which was pushing us to the limit.
We unfortunately lost the baby at 8 weeks, but carried on with the process of buying as we still wanted our own place we had also told the landlord of our current flat about the pregnancy and were able to negotiate cutting our contract down so we could get out before the baby was born.
Roll on several months, and we are informed by our Solicitors that our contracts are being sent out in the post and we will be exchanging soon, great news as we have to be out of the flat by the end of this month. My husband who is away at the moment gets an email last night from our estate agents saying that the vendor is pulling out as she wants the full asking price!!!!!!
I cannot believe it, who actually does that to people!
She has pulled her own offer, and has decided to find something else to meet her criteria and to do that she needs more money and unless we meet the asking price she is putting back on the market. We have said no for several reasons, we can't afford it, we don't think it is worth that much, we think it will effect our resale options, she is making a huge profit on it already as we knew she bought it much cheaper, i don't even know why i am bringing it up probably just cause i am so frigging mad!!
And to top it off, i'm pregnant again and suffering from loads of anxiety due to previous miscarriage and a mumps case at work causing me to worry about early miscarriage! Oh and of course where are we going to live in months time!
Praying to anyone out there, that the landlord will extend our contract, i really don't want mess her around!!
Sorry that was long, feels good to write it all down!
Oh and the contracts came this morning!!
House buying is such a nightmare. Unfortunately I thinkwhat she's done is legal.
Have . I would say , but you will have to settle for .
Do not give into her demands. Hold fire. This is an all too common nasty trick used by people at the last minute to try to squeeze as much money as possible. She may or may not go through with it - you have no control over this. Tell her that your agreed offer stays on the table but for only 24 hours. She is trying to force your hand, don't let her.
If it falls through, go back to your LL and ask of you can stay on. Congratulations on the pregnancy.
This really should not be allowed, I'm angry on your behalf! I take it you have paid for a survey & solicitor already.
You really do not need anymore stress. Could you stay in your rented flat , have your baby then move when you are all feeling up to it. I know house prices are rising again so this may not be viable.
Oh and what she has done is perfectly legal from what I know. Immoral, but legal.
Oh it is legal, but is so annoying! i just can't believe someone can be so shitty!!
I work in an Estate Agents (on the financial side though thank god) and it makes me sooooooooooo angry when this happens (not a lot recently). People are so greedy when it comes to property.
The worst are probate cases.
House buying is horrible, you have my sympathy.
Not that it makes any difference to you, but could it be that someone has done something similar to her higher up the chain?
She may be 'playing' you, but there again prices are supposed to be rising so she might be holding out. Stupid woman.
You are in a wonderful position to buy as you don't have anywhere to sell - start looking again and I hope you find something quickly.
Nothing i can do will change the situation, i am just so frustrated that she would leave us in the lurch does she not have a heart!
Given that you are not going to pay the higher price I would sign the contract and return it to your solicitor. I would then tell her she has until x date to sign it and you will proceed or otherwise you will not be purchasing the property.
I would also let slip that I am a member of a number of review sites in your area and feel it appropriate to post your experiences of buying
Obviously you feel obliged to advise her of this given any future buyers.
(not sure how this would work legally
Totally shitty but totally legal.
Some people have no morals, walk away with your head held high.
Try and try not to get upset, it's only bricks and mortar, you will find another place.
I work in this industry and sadly this is happening a LOT at the moment, however we are also seeing surveyors down valuing a lot, so fingers crossed they get full asking price and then it down valued and they are left in the shit.
What an utter bitch. Don't give in. I really hope she gets her comeuppance for doing this to you
I know this isn't helpful to you but for anyone else reading, it's really not a good idea to hand notice to your landlord until you've exchanged contracts. Nothing is certain until then.
Bad luck OP, just call her bluff and walk away if necessary.
Call her bluff and pull out.
Horrible thing to do on her part.
Try not to get too stressed.
This is unfortunately all too common, as house prices are rising in some areas and vendors get their properties re-valued. You also get some unscrupulous estate agents who intentionally value a house higher than is realistic, in the hopes that a vendor will go with them rather than another estate agent.
I'm wondering why it has taken "several months" to get from offer to close to exchange. I've always been in the middle of a chain & still managed to get everything sorted in 2-3 months from offer to completion.
We called her bluff, and now we are walking away, maybe it was a mistake to hand our notice in, but we couldn't afford to to pay for our rent and a mortgage if the exchange was going to happen.
I've got to think positive and look to forward to the viewings for new places
Thank you for your kind comments
Really feel for you OP, we've had this happen to us too. Our vendors used the excuse that they had been refused the amount of mortgage they had asked for due to age and needed the full asking price. They must have forgotten telling us they were mortgage free and downsizing to an apartment! The vendor put the house back up with the same agent, it was up for two months when we got a call from the agent asking if our offer was still on the table !
Welcome to Capitalism.............
I don't think that the estate agent should have said to you that the vendor was "not needing the asking price." That's nothing to do with them, and if they were acting for me, as a seller, I would be livid about that.
Equally, what profit they may or may not have made on the property is nothing to do with anyone else.
It's tough, I know, but they're not a charity. If they think they can get more for their property because values have increased in recent months, then one could argue they'd be fools not to try, rather than "give it away" to people they don't even know.
Legal but infuriating.
An old housemate of mine posted on Facebook recently that she was thinking of doing this to her buyers because house prices have gone up so much since the offer was made - she wants another £50k!
Someone else posted that she should do it, because she (the other poster) had done it the day before exchange on her sale because she changed her mind about her own purchase.
Most other people seemed to be of the view that it was a pretty shitty thing to do - it's been months between offer and exchange due to various hold-ups, so the buyers have committed a lot of time and money to the process.
I can assure Clam that they were not "giving it away" we were offering a more than fair amount of money for the property especially if you look at other flats in the area, which we had of course!
The seller had told the vendor to tell us they were not expecting/needing the asking price, so she has no right to be cross.
I could point out she had done the same thing to another buyer last year, we informed she had pulled out due to family issues, well to us its all a load of bull. I am also aware the flat was on for over 30 grand less then what we settled on. So we well aware of the situation.
And as much as this is legal, it is shitty and she is a spineless cow, but i guess we can smile because she did say she was happy with us as purchasers, how grand is that! NOT!
What do you mean SO last year? I don't understand....
Sorry Clam i read that back and it seems i was taking my anger out on you, rather then the real recipient! Again Sorry!!
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