What do you reckon to this? <<raging and (I think) gazundered>>(35 Posts)
A bit of back story..we found the perfect house, put ours on the market asap had 4 viewers & 2 offers within 5 days. We took it off the market as soon as we got the asking price (v quickly) & sale agreed on our dream house. Going all too swimmingly...
That was eight weeks ago.
We have been waiting and waiting for our purchasers (ftb - no chain, cash buyers ...perfect you'd think ) to sign the contracts which have been ready with their solicitor, ready, for almost 2 weeks.
The ea and our solicitor has been trying to get in touch with them & their elusive solicitor all this past fortnight with not much luck, they finally did (rang the ea) last Tuesday saying they had been away on holiday. The ea stressed we need to sort out schools & kitchens need to be booked 8 weeks in advance so the completion dates would be set once they had signed.
They have over the past few days become quite difficult to get hold of but stated they were waiting for a completion date from their solicitor but stated there was no problem and they would make an appointment to sign but it has always been 'tomorrow'.
We and the EA decided to contact the underbidder on the off chance they may still be interested, and yes, keen is an understatement but we let them know the sale agreed couple were still going to sign.
Today an appointment was made for tomorrow 10am for the original couple to sign. Since then they rang the EA with some convoluted excuse they need £5k off the asking price (something to do with money - how come now?) Swinging the lead, somewhat. We immediately went back and said 'No'. We feel we have been strung on long enough to be not messed around any longer. They have acted in my opinion naively throughout, eg, no survey carried out (said they didnt want one), no second viewing, and when they were bidding they said they 'needed to know asap as they were bidding on another property' . There are other examples.
gaaaaa i am raging! Why do people do this? I'm so cross at having feeling like I have wasted the last 2 months on these idiots who think nothing of messing our and the ones up the chain around, without a second thought, not to mention the 2 surveys we have had done on the property we are still hoping to buy.
As an aside the purchaser is a solicitor (although didnt do any of the conveyancing), can I put a complaint in to the Law Society? Trying to think karma instead of wrecking revenge....
Why would they make an appointment with their solicitor and then decide to ask for 5 grand off?
What do you think they'll do in the morning? The EA told them we said no. we genuinely cannot afford to take any off the price of our house.
And what would you do?
Thanks for reading this rant! Sorry its a long 'un
Stick to your guns hun & do not budge on the £5k. If they do not sign tomorrow tell them you are re-marketing the property & go back to the OP. You may even complete with the OP before you would have with the current buyers
I totally agree with LovingTheSunshine.
I thought that it was the mortgage company who require the survey not the buyer?
Sadly, as he was not acting in his professional capacity I don't think the Law Society would be interested. And annoying as it is (I've been there - had a buyer mess about for weeks) as the English system is so ridiculous he hasn't actually done anything wrong.
Some people are just weird. Maybe they're in the running for another place? Def do not budge on the £5k esp as you've got another interested party.
Hope it all works out.
You are right I am def sticking to my guns!, I also think they must not really want the house anyway...its a pretty risky ill-advised trick for the day before signing contracts.
We were planning on giving them the deadline of 5pm tomorrow to have them signed anyway. I think the ea told them that too. Maybe they thought we were panicking and it being a buyers market thought they could take milk it.
They are doing what many others have been doing in this market. You can't really blame them for trying although it is very late in the day to be messing you about. I'd just say no. They've invested money in their survey and conveyancing fees so are unlikely to pull out now over £5k. Call their bluff.
And no you can't complain to the law society. You can only do that if your own solicitor has been negligent. Fortunately (since I'm a lawyer ), its not just an organisation for complaining about our general behaviour. DH would be on to them all the time about my lack of ability to clean the house properly!!
Yes I think it is the mortgage company who require them but we live in a 100 year old house, and surely sense would prevail...
Haha sotg - I know, I'm just cross! Maybe some day when they are trying to sell a house this may happen to them and they might realise. Maybe.
They havent invested in a survey, which is a pity I think. I think it is crazy too to invest such a large amount of money into something you have looked at once for 20 minutes. I have looked at dresses from new look for longer. - I'm doing a lot of that face in real life at the minute.
Thank you for your support!
my heart is in my mouth...i'll find out around 10am this morning whether or not they are signing contracts or not.
ahhh, this is awful!
When someone tried this with me on the day before we were due to exchange I went right back and told them the price would go UP by £10k if they didn't sign within 48 hours. They moved quick then.
Not necessarily recommending you do this (it might backfire) but you are in a good position with second buyer in background so don't let yourself be bullied.
Altho I like OWS's idea v much, I'd be tempted, if a lot is riding on the sale, to say you'll give them 2.5K off IF the deal is signed at 10.00am, because there's no guarantee the other buyers won't try the same trick, or indeed worse. But then I'm a hardened old pessimist.
I love OWS's idea too, that would really call their bluff! I wouldn't dare though. On the other hand I would resent taking any money off the asking price as it will be extremely tight for us anyway - they have messed us around enough, it would feel like paying them for wasting our time..or something...
They mustn't want the house too much if they are going to pull this one in the dying minutes anyway.
my palms are all sweaty - how lovely!
Stick to your guns! The karma will be that you'll sell to the other possible buyer, and whichever half of the couple suggested pulling that cheap trick will be forever reminded about it by their spouse as 'how you lost us the home of our dreams, you tight cretin'.
if you had 4 viewings and 2 offers in the space of 5 days, I'd risk having to put it back on the market. But fingers crossed you don't have to.
all the best with it. our buyers tried to gazunder us too. we held our nerve said no and they did a bit of faffing but now we have exchanged contracts. trying to give you some positive news. and we didnt have a 'spare' buyer waiting in the wings. you'll be fine...
I think there is a particular term for what you describe but I can't recall. What buyers occasionally do is get right upto exchange of contracts and then try to renegotiate the price on the premise that you don't want to lose them as a buyer so you will accept the drop in price.
I think it is wholly unethical but it is a practise that is done by buyers. I am dreading it happening to us when we sell ours in a few weeks time BUT we have already decided that we don't want to do business with somebody like that so if it happens we will walk away from them.
stick to your guns. Fingers crossed it all goes through!
I am married to a solicitor (albeit not a conveyancing one) and used to work in solicitors offices, imvho, they are the worst type of people to try to sell to. The know every trick of the trade - unfortunately.
I am keeping everything crossed for you.
we are offering on one we love today, it is nail biting.
I am ignoring my kids to just sit near the phone...............
so .. are you sold????
spoke to our solicitor who is going to give their solicitor till 12 and then get in touch. waaa!
Make sure you get the completion date agreed at this stage for soon! When do you want to move? 2 weeks/4 weeks?
If nothinh happens by 12 get straight on the phone to your other bidders - no more messing around.
thank you everyone, i really do appreciate your kind words!
Stressed2007 - we agreed the completion date for the end of August with the purchasers 2 days ago. The reason they hadn't been in to sign the contract then was they were 'waiting for their solicitor to contact them with a completion date first'. make of that what you will
I know, even though there will be a delay with the underbidder, she seemed so keen (& genuine, I suppose but can never tell..) and I would like to give her a second chance if they dont sign.
VoodoNotdoit - Fingers crossed, I really hope it goes well for you...I know, for some reason I didn't think I would still be at the nail biting stage
I'll let you know
Blimey - it's a cliffhanger!
Good luck - stick to your guns! If you got the asking price so quickly it's obviously a fab property and will go again just as quickly.
"The reason they hadn't been in to sign the contract then was they were 'waiting for their solicitor to contact them with a completion date first'. make of that what you will" I make it rubbish - this isn't the reason they have n't signed the contract. They sign so the solicitor has authority to exchange when the other side is ready and they then say they are ready - they can sign and agree the date and then say they are happy to exchange - it would n't hold them up going to solicitors office to sign.
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