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WTF to do?!

(16 Posts)
Licketysplits Fri 10-Mar-17 10:52:04

Selling our house. Buyer 1 offered asking price and all was proceeding but their buyer withdrew after a few days so back on the market as they had no other interest and we needed a confirmed sale quickly to reserve a new build (dream house). Week later accepted £10k less than asking price from Buyer 2. Valuation done this week, all proceeding.

Buyer 1 now has a buyer for their house and has come back reoffering the original asking price. That £10k would make a huge difference to us. I'm flummoxed. So weighing up:

1) ditch buyer 2, feel like a cunt, get extra 10k (but there is more of a risk as well as buyer 1 is in a chain)

2) stay with buyer 2 (FTB), less risk, don't feel like a cunt, 'lose' £10k

What would you do? DH and I are erring towards 2 mainly because it's the 'right' thing to do and less risky, but the extra 10k is a huge amount of money to 'lose'.

CMamaof4 Fri 10-Mar-17 11:14:16

Id stick with number 2 FTB. If they withdrew their offer last time they could do it again and then think of the position you could be left in.
Plus the second buyer is in a much better position so you wont have as much worry with the chain.
First person just sounds like agro, Which is really not needed when buying a new house.

PuntCuffin Fri 10-Mar-17 11:17:41

3) be really cheeky and tell them you have received a further higher offer and is there any way buyer 2 can meet you halfway with another £5k.

No idea if it's allowed though.

EssentialHummus Fri 10-Mar-17 11:21:02

Stick with 2. You can have a go at asking for a bit more money, but I'd stick with it even if they couldn't.

We are buying currently and I am losing lots of sleep, hair and patience over it. Anything for a quick sale.

SoupDragon Fri 10-Mar-17 11:22:53

I would stick with 2 for all the reasons given. I would possibly tell them that you've had a higher offer but are happy to stick with them if they can exchange by X date to try and tie them in.

GinAndTunic Fri 10-Mar-17 12:00:46

Stick with the original buyer: think of how gutted you would be if the person selling a house to you accepted a higher offer at the last minute.

GinAndTunic Fri 10-Mar-17 12:01:10

Oops - I meant Buyer 2, but that wasn't clear from my post.

Oogle Fri 10-Mar-17 12:34:13

Stick with buyer 2.

Kiroro Fri 10-Mar-17 12:50:00

3) be really cheeky and tell them you have received a further higher offer and is there any way buyer 2 can meet you halfway with another £5k.

This

roadnottaken Sat 11-Mar-17 00:36:00

3) be really cheeky and tell them you have received a further higher offer and is there any way buyer 2 can meet you halfway with another £5k.

If you tried this with me, I would refuse and it would damage my trust in you. Alternatively, I might be tempted to agree to it, then drop the price by £5k on the day before exchange. Not nice is it, when people start playing games?

If you want to go with the higher offer and the additional risk that that entails that's up to you, just be straight with the FTBs and tell them before they fork out for surveys etc.

roadnottaken Sat 11-Mar-17 00:47:02

Ah, I see the valuation has already been done.

JoJoSM2 Sat 11-Mar-17 00:47:31

It's a tricky one as you did accept the lower offer in the first place even though you full well knew that you could get more. I wouldn't try to extract more money out of them and they might just walk away so the risk isn't worth it if you're really committed to the new house. Perhaps you could get some money off your new built to make you feel better?

bouncydog Sat 11-Mar-17 07:49:43

Stick with buyer 2. You haven't lost what you haven't had and if they've paid for surveys etc then they're obviously keen. Where we live, purchasers have to put down 10% on exchange of contracts. If they walk away the 10% is paid as damages. If the seller changes their mind they also have to pay 10%. Much better system IMHO as it prevents time wasters!

BikeRunSki Sat 11-Mar-17 07:55:27

I'd stick with the security of Buyer 2.

Licketysplits Sat 11-Mar-17 08:36:50

Thanks all...we've decided to stick with buyer 2 for all the reasons above and just as much because it's a crappy thing to do to let them down...I'm a firm believer in karma and messing around now could bite us on the arse later! Was just really interested in what others would do as I've not been in this position before.

loveka Sat 11-Mar-17 15:05:25

I am in exactly your position. Apart from the estate agent told us buyer 1 was out of the picture when they weren't. The two estate agent employees were vying for their personal commission on the sale, and the one who has buyer 2 as a client lied to us about buyer 1.

We are going with buyer 1 as they offered first. I feel like a total cunt though.

We had a previous buyer who pulled out on the day of exchange. We nearly lost the house we are buying and the people we are buying from lost their dream house. So I am a bit cynical about this whole process.

We really need the 10k too!

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