Fuming with Buyer

[kookiekookie]

We accepted an offer yesterday for 87k and I've been pleased with myself today. Just had my estate agent on the phone saying that although our buyers are still interested in our property, they are still looking around and we should still have people to view ours. What the actual hell!

My estate agent knows this simply because they just tried to offer 85k for a 100k house which was not accepted. They are obviously chancers who realised they got a good deal with me at 85k and made this offer on a house a few doors down on the off chance. The only reason we know about this all is because the other house is listed with our agent. They are first time buyer, long term dickpickles.

What shall I do? Is this par for the course. This is the point at which I know I have to I let the agent do their job but I'm tempted to say 'get your survey done within the week or you can bugger off.'

Any advice?!

[MrsPigling]

How frustrating! but at least you found out now and not in a month's time...

I'd advise that you keep yours on the market and let more people view, hoping you get an offer from someone more reliable.

[ItsNiceItsDifferentItsUnusual]

I'm sorry to say but I'd just assume they're not going to buy it - proceed as if you have no buyers. What dicks.

[YelloDraw]

Yup keep it on the market and hope for another offer!

[kookiekookie]

We've got a buy to let gentleman who viewed the same day. He's keeping it cool and has told our agent he'll get back to us on Monday. I would love to stick it to the first 'buyers' if this guy makes an offer. Karma's a bitch.

I'm just so angry though. The woman is 27 weeks pregnant so I think they're desperate to move fast and the house they made the ridiculous offer on today is chain free.

[GoldFishFingerz]

Keep yours on the market and say you will consider their offer when they have paid for survey/searches. How can you go ahead with paying for your own valuations/surveys on the property you want to buy with them being uncommitted.

[PurpleDaisies]

You just act as if you haven't got s buyer yet. If they're still viewing other houses they seem totally uncommitted to yours.

We had someone make an offer we would have accepted and then they withdrew it the next day while we were checking we could make our onward purchase work.

Unfortunately it sounds like you need another buyer.

[HereIAm20]

First its not that ridiculous an offer if they offered £85K and they were going to get yours for £87K. Secondly if they need to move quickly then a chain free option may be better for them.

They are simply keeping their options open as must you. You are lucky it is the same agent. The agent will no doubt tell them that you will keep marketing your property and that if they wish to proceed the property won't be taken off the market until after the survey has been done.

Finally, can I ask where these days you can get a property for less than £100k?

[YelloDraw]

Finally, can I ask where these days you can get a property for less than £100k?

Large parts of the north.

[PurpleDaisies]

And Welsh valleys.

[TheBathroomSink]

And West Midlands

[kookiekookie]

I'm in the North.

Maybe that's what they thought... That offering on a house 3 doors down 15k less than the seller wants wasn't ridiculous, hence them chancing it.

Would anyone go back and say anything - I feel like they've got us by the cojones! What if I said, if you're interested in moving quickly, get a survey done within the week or forget it? What have I got to lose if they're so non committal anyway?

We're viewing houses tomorrow and are pretty sure we could offer by tomorrow afternoon, but what's the point?

[PurpleDaisies]

Try not to panic-you've still got a buyer and it sounds like you've got other interest anyway so you're in a good position.

I would be tempted to get the estate agent to ask them if they are serious about their offer if they're making other offers. You're better off ditching them if they're just going to mess you around.

[DiegeticMuch]

Keep marketing it until the survey is done.

[kookiekookie]

Thanks everyone. I'm viewing houses today and before we make an offer I'll get the agent to ask them if they're serious that they want this chain moving forward. I don't know why they're playing this precarious game seeing as she's due in 3 months!!

[kookiekookie]

Thanks everyone. I'm viewing houses today and before we make an offer I'll get the agent to ask them if they're serious that they want this chain moving forward. I don't know why they're playing this precarious game seeing as she's due in 3 months!!

I do get the feeling they want a chain free house. Perhaps we could offer to buy a chain free house to shorten the chain. I have 2 possibilities but then again if I prefer the other house we're seeing which is part of a chain I don't want to make that kind of compromise for them. It's too big of a decision to base it on what THEY required.

In essence I feel they've revealed how desperate they are.

[PurpleDaisies]

Don't let the buyers being shady influence the type of house you buy-if you see two houses you like but you prefer the non chain free one, don't offer on the other just to try and keep them. If they do pull out (if they are making offers elsewhere that seems fairly likely) you'll regret not trying to get the house you really wanted.

It's obviously ideal if you've already got a buyer in place for your place but you never know-if you're the only person bidding or they like you more you might be lucky anyway and they'll wait for you. Our sellers stuck with us when we lost our buyers.

I'm not sure you have revealed they're desperate for a chain free house. It's more likely they're not totally sure yours is right for them. If they really loved it they'd be waiting a little bit to see what happened with your purchase plans. Since this happened a day after you accepted their offer I think what's much more likely is you're their back up if they don't see somewhere else they prefer.

[rallytog1]

I'm sorry to say it but we lost two buyers in this way. The first got as far as a survey then stamped her feet and threw her toys out of the pram because it revealed that our 1930s house would require more ongoing maintenance than a new-build facepalm. She reduced her offer, which we would have accepted except the agent told us she was still looking at other houses and hadn't ordered any searches through her solicitor, so we called her bluff and pulled out ourselves. The second buyer was all keen and agreed to complete within 6 weeks but by 3 weeks she hadn't even booked a survey. She then vanished off the planet. Buyer #3 fortunately worked out.

Our agents said our experience wasn't common but they were seeing greater numbers of FTBs offering and getting properties taken off the market, then keeping their options open by looking elsewhere.

How is the market faring around your way? In your position and if the market is ok in your area I'd be tempted to say that you'll pull out if survey and searches aren't instructed by a certain date.

It's so frustrating

[kookiekookie]

I'm tempted to say get your survey done in the next 2 weeks or jog on. However we've been up for 4 months with 11 or 12 viewings and this offer came from their second viewing. We haven't had any other second viewings.

If we want to make an offer today my agent said to call him first and they'll go to the buyers with this information and see whether this makes them more committed. Do you think I should get him to give them a 2 week survey deadline too?

[kirinm]

I'm not sure I understand why you think they're desperate? With absolutely no disrespect, it is your house that's been on the market for 4 months with only one second viewing and you who has accepted a low offer.

If I knew a house had been on for 4 months, I'd be making low offers too.

It's not fair for them to mess you around but when I was looking (in London) we would frequently offer on 2-3 places every week because competition was so fierce.

[wowfudge]

The EA's plan sounds like a good one. Our agents insisted our house be marketed until the survey was done and the buyers had confirmed there were no issues. Only then did they mark the listing as 'under offer'.

The problem with giving them a two week deadline is that you don't know how long their mortgage lender is going to take to get that stage and if you don't then pull the plug you just look silly for making a toothless threat. I'd be more inclined to say you would like to be kept informed as to where they are in the process and will only instruct your own survey on your purchase once they have at least got an appointment in the diary for their surveyor to look at your house.

[SoupDragon]

I don't know why they're playing this precarious game seeing as she's due in 3 months!!

Because its a lot of money!

I'm not sure why you're fuming. Offers are not binding in England and no one has lost anything. Offers are made and withdrawn all the time.

[PurpleDaisies]

I'm tempted to say get your survey done in the next 2 weeks or jog on.

If you say that, you have to mean it. They can still pull out even after the survey is done. World you actually ditch them if their mortgage company was slow in instructing the survey?

[Runningupthathill82]

But mortgage companies don't instruct surveys, do they? They get a valuation, but buyers instruct their own surveys. Usually.
I think it's fair to expect them to get a survey done in the next fortnight. If they're spending £500 on a full structural, for example, that does demonstrate more commitment.
You just have to be prepared to follow through and tell them to stuff it, if that's what you say you'll do.
Because if you don't, and the purchase does continue, they know they'll be able to play silly buggers and hold you to ransom over stuff further down the line.

[PurpleDaisies]

It depends on the mortgage company. We had ours done through nationwide. We paid for an upgrade from the basic valuation one.

[YelloDraw]

But mortgage companies don't instruct surveys, do they? They get a valuation, but buyers instruct their own surveys. Usually.

But the mortgage co will make you pay e.g. £500 for a valuation (no choice) but often let you upgrade to a homebuyers report for another £200, total £700.

If you pay for the mortgage val £500 and ten instruct your own homebuyers at approx £400 you end up paying way more.