Very frustrated with sale/estate agent(24 Posts)
We put our house on the market at the end of May - going with an EA we believed to be the best of 3 (independent, local to the area, not a hard sales approach)
We probably had about 10 viewings over 4 days, 4 offers, 1 we accepted because the buyer appeared to be perfect (cash buyer, no chain) - offer was Â£15k below asking price
6 weeks in, we've answered the very many solicitor's questions
Got through all of them to now face next issue of survey: she's taken a week and a bit to tell us that there is an issue with down pipes, and some fascias at the front need sanding and painting.
6 weeks ago, EA was gushing about our house being great/best kitchen extension she's seen/good condition/no supply of houses like ours etc etc
Now she's saying we should cover the cost of these works thrown up by the survey because all buyers would expect that / we don't want to lose the sale / the market has slowed/ we'd be lucky to get viewings / we wouldn't get the same offer etc etc
Whilst we don't want to cut our nose off to spite our face, we are starting to feel that the EA is working against us...and why should we drop the price more when the things she now wants us to pay for have always been completely visible and therefore not a surprise, and should have been factored into the offer
It's been 8 years since we last bought and sold - is the buyer right to expect us to cover this, is the EA scaremongering to make us panic into settling a new deal....and what would you do in our position!?
When we sold our house we ended up doing similar, the work thrown up were small inexpensive jobs which we did with a sense of relief that nothing more serious/expensive had shown up...
You could pull out now but unless you change ea they will be obliged to inform others potential buyers of the problems they know about. This will make buyers suspicious about what else may be wrong/not picked up.
Could you try to negotiate with the buyers about splitting the cost?
The ea wants to sell your house and unless you have a fixed fee the more you sell for the more they make.
I hope things get sorted.
Happened to me too. I held firm saying that they could see that the work needed doing when they offered and was factored in. You have already accepted a lower price. I held firm and they caved. But I'd kept the house on the market to keep the pressure on. If they've already paid for a survey they will loose out if they pull out. Up to you. I felt my buyers were taking the mick. Estate agent should be on your side but in reality they want a sale...personally as it is visible of hold firm. They are invested in the house...
Hold firm these are minor visible jobs factored in to price agreed. You had 10 viewings and four offers and accepted for a quick sale I would hold out you will sell it again in a heartbeat. And threaten to change agents this lot are taking the p
Completely agree, say the £15k they've knocked off the purchase price should cover it!
Definitely hold out. But I agree you could also instruct agent to put house back on market while you are waiting for buyer to decide if they want to proceed at previously agreed purchase price.
The amount the agent's fees will be reduced with this new reduction is very negligible. E.g. if agent is on 1.5% and buyers are asking for another £5k off then that's only a £75 reduction in the EA's fee. That's why, I'd hazard a guess, the EA is pushing for you to lower price so that the sale doesn't get held up or fall apart altogether and they then risk you going with another EA altogether.
The agent is trying to force your hand because they don't want to lose the sale and have to re advertise your home.
You have reduced it by 15k. Tell them your answer is a firm no.
It's the survey that has thrown up these issues? Not the EA? If so, check if any of the issues raised will result in a retention on the mortgage - if not, feel free to stand your ground.
It's a cash buyer Fizrim so I'm assuming mortgage not an issue. What's the issue with the down pipes and the likely cost? We had similar things come up with our buyer who we accepted a lower asking price from. We reduced a further £1000 as a gesture but to be honest if I'd known what a twat he was going to turn out to be I would have told him to do one.
The Estate Agent is likely trying to keep the peace between you, taking the line of least resistance.
Whether you jeopardise your move by refusing to pay is your call and yours alone.
if all they are worried about are downpipes and getting the fascia painted I would hold out as well - none of that comes at great cost and is part of general maintenance when buying a house. As you had so much interest I would just say that to them.
Are they worried about damp (if there is an issue with the pipes), if there was any then it would have come up in the survey and I bet it didn't!
Good point about these being the cash buyers, so no retention possible but I bet they've paid a hefty sum for the survey themselves (yes, I'm bitter!).
EA's will always love the house when they are touting for your business! If you've already had other offers then I'm willing to believe that it might not put other buyers off.
I would be tempted to hold firm.
We did hold firm...DH emailed agent late this pm to say we've reduced as far as we're going to. The argument about it not costing a lot to fix goes both ways...and we have knocked £15k off, as well as leaving some blinds and curtains without ever suggesting she should pay for them!! No mortgage - "just her life savings and pension" to fund the purchase
EA is definitely after an easy life - so let's see how she manages the buyer (whom she has latterly revealed has known her DH for 40 years!!)
Thanks for all the replies, will keep you posted
There is your answer as to why the EA is supporting the buyer so much...
Had she declared an interest in knowing the buyer? Sounds very dodgy to me... did you get any other valuations?
Hmm v suspicious how many valuations did you get?
You've def done the right thing holding firm, no way would I reduce for general maintenance stuff like this - and especially not when you've already knocked off a huge amount of money.
Think it's very dodgy that your EA has a seemingly close relationship with your buyer. If they continue not acting in your best interests (because they are NOT) then I'd politely explain that if the buyer walks away over this you will relist the house elsewhere. The number of offers you originally had suggests you wouldn't have trouble selling again.
We did get 3 separate valuations...hers was the lowest.
We went with the middle one - which she didn't argue with when we actually engaged her. But that was brought up yesterday as a reason to cover these new expenses...because we put it on higher than she valued it. Not quite sure what the logic is there!
The relationship between EA and buyer has developed in an interesting way over the weeks; it started out that she "knew of her" from church....then it became they know her...now it's "known her for 40 years"
DH v suspicious and is now really digging his heels in!
If anyone interested...buyer pulled out.
Cited "pressure from the agent to complete in July" and not liking that our (non attached) neighbours are building an extension
Back to the drawing board....
Ugh, the whole house buying and selling palaver is so stressful - you did have a lot of offers so I hope a serious (and less contentious) buyer turns up ASAP.
And I would be asking the EA every single time they rang up with a viewer 'do you know this person'?
I hate this process, it is so stressful.
We've pretty much accepted our purchase is going to fall through because we're no longer in a position to proceed - we don't think the developer is going to be too forgiving
We had an offer yesterday, they withdrew today on the basis that they don't want to pay what they offered, they actually want to spend 75k less!!
Wtf is it with people making offers they don't mean
They sound like morons. How can you be 75K out? Perhaps they couldn't get the mortgage they wanted.
The developer may be desperate enough to wait, or do you know of any other interest in the house that you want?
Maybe...they apparently decided they would spend less money on a house and then do it up themselves
Our fear with the developer is that it is a v popular site, and it might just be marketing spiel, but they have apparently sold everything in the first phase (that we were in) and people are reserving for the future phases...which are anything from 10 mths to 4 years away! If they have someone ready to go now on a waiting list, I doubt they are going to feel morally bound to let us continue.
We're in a rental place, so could stay longer than initially planned...but can't imagine waiting FOUR YEARS to buy!!
And we've moved 200 miles from where we lived...
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