Gazundered and worried!(131 Posts)
We sold our house in early February to the first person who viewed it - she offered 10k under the asking price and we rejected because it had only been on the market 4 days and we had more viewings booked. She upped her offer to asking price the next day and we accepted. She then came round for another viewing and we were very accommodating - let her spend about 40 minutes looking round, didn't follow her around, made her a cup of tea even! All seemed to be fine until about 6 weeks later we were getting close to exchange and we get a call from the EA saying she's dropped her offer by 10k and if we don't accept she's pulling out! Of course by now we're invested in buying a house we love, which she knows. We were absolutely furious as there was no basis for the price drop, no survey issues etc, just because she felt like it. Anyway purely out of not wanting to lose the house we're buying we agreed to drop by 5k, but not 10. She agreed to this. Then she asked (via her solicitor) us to pay for a boiler service. We said no, because it's a 3 year old boiler and we've just dropped the price by 5k! She persisted with this for about 3 weeks before giving in and saying she'll pay for it and is sending a plumber round. Her solicitor has also pestered a lot about us taking out various indemnity policies for silly reasons (not anything like unauthorised extensions etc!) and the buyer has kept threatening to pull out if we didn't bow down to her demands. We've stood firm and she's given in on them. However we're due to exchange next week and she's insisting on coming back for another visit. I initially said no because she had a lengthy second viewing only in Feb and she's messed us about and blackmailed us into giving her 5k off! However of course she's said she'll pull out if we don't let her so I've agreed to a quick visit this week as long as exchange takes place soon after. I'm pissed off that I have to clean and tidy the whole house now and worried that she's not really sure she's going to go through with it or try get more money off.... apparently her solicitor has advised she must be allowed to come round again before exchange to check we haven't done anything to the house?! I've never heard of this and we're not going to view the one we're buying again. I don't really know how she's got the cheek to insist after her gazundering stunt or why she would want to see me after that?! She knows we are not at all happy about the whole situation.
She's taking the mick big time. To be honest, you've shot yourselves in the foot by letting her get away with so much up to now. There is only one type of people who behave like this and if you give them an inch they will take a mile. You should have put it back on the market the second she reduced her offer. I cannot BEAR people who pull these sorts of stunts and will give them no time whatsoever.
If she wants another viewing then I guess you just have to grit your teeth. Maybe go out so the agent can deal with it.
Well you've already said she can come back. I don't think the 2nd viewing was unusual, and a 3rd is ok but generally people say it's for measuring curtains etc rather than accusing vendors of removing stuff!! But the gazundering puts a whole different light on it, exacerbated by the boiler stuff. She seems to think you are some sort of charity for her especial benefit. I'd be tempted to ring your agent, let them know about your concerns that the extra visit will lead to another gazundering stunt, and to give them a heads up that if she so much as hints at a further price drop, you are withdrawing from the sale and will be needing them to find a new buyer quick sharp. Please could they be lined up for that?
Firstly it might genuinely be useful, secondly hopefully they will have a chat with the buyer, thirdly it might make you feel a bit better to take back some control. It's probably what I'd do, but that doesn't make it good advice. Gritting your teeth is probably more sensible, I don't know.
I'm glad it's not just me who thinks it's awful behaviour on her part!! It was such a tough decision when she pulled the gazundering stunt - we were sooo tempted to tell her where to go and put it back on the market but it was the fear of losing the house we badly want to buy that stopped us. I'm glad we didn't drop the 10k she wanted though - it enrages me just thinking about it!! Our EA know exactly how we feel about her, I have voiced my disgust on several occasions and I went mad at them when they rang me to say she is demanding another visit. We had no problem at all with the second visit and I don't think a third is unreasonable under normal circumstances (if a little annoying for the vendor...) but it's the sheer cheek of the woman after the stunt she has pulled and the whole boiler issue, I'm so unbelievably fed up of the woman I'm seething when I think about her!
I bet she asks you to lower the price again after this visit. Be prepared.
A gazunder is a bed pan.
No Dusty, gazumping is gazumping. This is gazundering. You're welcome.
No, it is gazundering, not gazumping
Your buyer is taking the piss op
I'd do what a pp suggested and line up the estate agent to deal with her - they won't want to start again at this late stage
DustyBustle, I suggest that you graciously apologise and stop
Dusty paragraphs 1 and 4 of your first link explain what gazumping is (not this) and what gazundering is (this).
A term used to describe what happens when a British house buyer drops the price just before contracts exchange. It's the opposite of gazump
Anyway, back to helping the op.
We had viewers who's sister had purchased a property and the vendors had ripped out the bath plants and fence among other things - he quite rightly wanted to check we hadn't and that we were packing and how to work the heating etc - it's quite normal I think!
Dusty -- I'd like to introduce you to Google:
This exact thing happened to us two years ago. Offered full asking price then just before exchange of contracts then demanded the price be dropped by 25k. This was after the third viewing.
We replied "no" and instructed the agent to find us another buyer. We lost a beautiful new build but we were not going to be manipulated or bullied by a complete stranger about an asset we still owned! We were excited about our next home but there is always another house. It wasn't the end of the world, we found a new buyer a number of weeks later and actually ended up with three buyers bidding against each other. We achieved £2.5k under full asking price and we were happy because the new buyers swept through the process cleanly and efficiently with no awkwardness and we felt happy when we moved out.
However, as a former poster says, that's our experience and not necessarily good advice for you.
I echo another poster's response and you should be prepared for her to come back with another reduction in her offer price.
Really sorry it's happened to you, it's a pretty shitty thing to happen and does muddy your excitement about moving on.
Keep us posted!
In readiness for the buyer attempting to drop the price again, I think I would be prepared to say you have already agreed to a reduction and various other demands which have made you uncomfortable about the transaction and that you cannot make a further reduction as you will not have sufficient funds for your onward purchase and will not be renegotiating with your vendor at this late stage. You might also want to add that you will, of course, honour everything you are contractually bound to.
I think I would also play hardball if she walks round asking you to leave certain items which may not be specified in the contents and fittings form. Tell her to refer to the form for details of what will be left.
Be prepared for her to pull out without any attempt to renegotiate too - she may be someone who is really not sure about the house and is trying to squeeze what she can out of you in order to justify going ahead.
If the purpose of the visit is supposedly to confirm that the property is still in the condition that she agreed to buy it in, perhaps you could offer for some professional person (not sure who would do this - her solicitor, EA?) to come and make an inspection that all is in line with agreed documentation?
I'm frustrated on your behalf. How annoying.
Don't worry too much about sprucing the house up for her when she visits.
Are you getting the agent to attend? I think I would.
I'm not usually petty but I wouldn't be worry in too much about leaving the house spotless when I moved out.
It is good practice to view a property pre exchange for a final check. I would be gracious. Let her in. Go out. Do not be there: let estate agent handle it. But tell your agent you will not budge a penny on the price. The agent can then handle her and give her advice about not being an idiot. But do not be there. This is why you pay an agent. Get them to manage her. Plus, the agent will be busy and hurry her along.
I would be tempted to ask the estate agent to plan a mailing to the buyers they currently have on their books and plan an open day next weekend. If you haven't exchanged by Wednesday see how many people you can get round to see the house this weekend.
Me too, we had a buyer drop the price by 10k on the day of exchange, I suspect that yours will try it again.
I walked away and lost our sale, I will not deal with people like that or be bullied by them.
It's known as 'chipping', slowly getting more and more reduction. Last year our buyer tried it after several visits with her remodelling team!
We said no every time and at one late stage threatened to put the house back on the market. ( fortunately we didn't have to move ).
She paid the agreed price pretty quickly when she thought she'd lose the house.
Thanks for all the input, I'm glad the consensus is that she's totally unreasonable and it's not us! Her solicitor has made us feel at times as though WE are being unreasonable for things like not gladly paying out for a boiler service! After dropping the price by 5k?! I've made my feelings totally clear to the EA and I've said if she doesn't exchange this week then I want the house back on the market immediately. The buyer has also been told this will be happening. At the moment she's saying she will exchange asap but I'm still concerned about the purpose of this 3rd visit... im going out and letting the agent do it.
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