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AIBU?

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Original poster

Is she a CF?!

111 replies

netflixandsleep1 · 15/04/2020 08:32

Changed some details just incase the house owner is on here!!

I was buying a house from an elderly lady before the lockdown but due to everything that's going on she's decided to pull out which is no problem, I still have my mortgage and everything agreed and ready to go. Found a house, advertised with no upward chain and says offers over £160.

I put an offer in for £160k and was refused as the vendor (CF in my eyes) isn't interested at anything under £168k. I said surely the house should be advertised at £170k if she wants closer to that as I wouldn't have even shown interest as I don't have the extra money. We went back and forth and I offered to go up to £163k which was refused again, no counter offer just refused. I left it over the weekend and went back yesterday with £165k. Said that's my best and final offer as couldn't find another quid if I wanted to!! Vendor has accepted my offer only if she can live there until the work is finished on her other house!!!!

I said well no not really it's sold with no upward chain so surely as soon as the searches are finished it's mine? The CF has came back and said well I either wait for her work to be finished or she isn't accepting my offer!

I want to say go and fuck yourself quite frankly but the bigger picture is I want the house.

WWYD?

OP posts:
ShesGotBetteDavisEyes · 15/04/2020 09:17

Oh and as raindancer said - these are very uncertain times - mortgages are now being stopped so I wouldn’t let yours run out for the sake of buying a certain house.

daisypond · 15/04/2020 09:18

How can the OP even look at other houses right now?

hettie · 15/04/2020 09:19

When we were 1st time buyers we did searches on three places before actually getting to exchange contracts on the 4th property. All previous 3 owners came up with crap reasons not to proceed/took another offer/failed to declare unpaid debt on service charge... Get a simple guide on buying a property and understand what you're getting into. You could wait for years if this lady doesn't have any reason to move in any timescale

2beautifulbabs · 15/04/2020 09:20

I would seriously hold off buying right now first time buyer or second third etc
We were looking to put ours on the market before this all kicked off and we now won't be for a long time until things improve again and as other PP have said hold off house prices are going to bomb OP and you could end up over paying for a house that's not worth it in the long run your in a better position than most to wait and pick the right moment to get a really good house for far better money

WouldShouldCould · 15/04/2020 09:21

Agree, walk away. You quickly found a house after the other one fell through through, and have now gone 5k over what you want to pay. Everything at the moment will take ages to complete due to covid.
Additionally as a FTB the prices are at best going to stagnate but probably drop.

EverythingChanges321 · 15/04/2020 09:22

Walk away.
If you agree to this delay, there will be more as she knows you’re committed to buying it.
There will always be another house.
Also, there’s a strong likelihood that house prices will fall after this is over and it will be a buyers market.

ChocolateDove · 15/04/2020 09:23

As you're a first time buyer, I definitely go with run away even more.

We were first time buyers last year and I was extra careful about any sign of being messed around or issues with the house because of it, because it was our first house and I wanted a good experience of it, stress free. Not tons of hassle and a dodgy house by the end of it. If a seller had said this to me, I'd have walked away instantly without thinking about it.

You don't need the hassle. It's meant to be a fun experience, plus you're spending a shit ton of money. You don't need badly behaved idiots on top of that stress.

letsdolunch321 · 15/04/2020 09:26

I would walk away, the works on the house she is buying could go for 6mths to a year with problems that building works can bring

k1233 · 15/04/2020 09:29

I would tell the agent you've been more than accommodating, she's messing you around, so offer is withdrawn. It's not worth the ongoing angst.

Neveranynamesleft · 15/04/2020 09:30

Walk away. As previous have said, house prices will likely fall and you could have the upper hand with money in your pocket. Why get tangled up in her demands, leave her and her house to it. Do you really want or need the stress of it all, it's not the only house that's for sale, there will be others.

DogInATent · 15/04/2020 09:34

What position are you in?
What date has she given for the work to be done on the house she's moving into?
Have you spoken to your solicitor about options on fixing the date of completion at exchange?

You're either drip-feeding, or you don't yet have enough information to make an informed decision on this.

bridgetreilly · 15/04/2020 09:41

Walk away. Honestly, they aren't in a hurry to move. Removals firms are on lockdown, anyway.

Then go back in a few weeks and make the original offer of £160k again. House prices are definitely going to drop significantly in the next few months. Now is not the time to be making higher offers than you want to.

Tabitha005 · 15/04/2020 09:42

I would walk away. You could be waiting for an indefinite period between exchange and completion if the Vendor's onward property isn't completed in a timely manner. Once you exchange, and pay your deposit, you're beholden to either completing or losing at least part (and possibly all) of your deposit if you pull out.

We're waiting to exchange on our house (with vacant possession), but just have to sit tight until our removal company is back to working normally again. We did think of exchanging during lockdown, but decided otherwise in case a) something happens with our mortgage offer or b) my husband's employment.

Maybe you could just sit tight, say nothing until after lockdown and see whether the Vendor blinks first in the meantime and either agrees to a definite completion date or perhaps decides to move into rented accommodation/stay with friends or family so you can move in. She may not want to lose the sale just as a much as you don't want to walk away.

Perch · 15/04/2020 09:50

I would lower the offer to original asking and if she refuses walk away. There will be other houses and a drop in prices is more than likely. This woman will mess you about. She is ridiculous, unless her house is on Kensington Palace Gardens she is not in the stronger position! Play to your strengths 💪

GU24Mum · 15/04/2020 09:55

You'll agree the completion date at exchange and it's a negotiated process - neither of you can impose a date on the other but if you both want the transaction to go ahead you've got to agree a date.

Up to the point of exchange either of you can try to change the goalposts and the other may agree or walk away. (Walking away is your only option if either of you don't like something).

Exchange is not a fixed date - it happens when everyone is ready. ALL estate agents say let's have a quick exchange [and completion can take longer if necessary] - exchange is what secures the deal. People say all sorts of things and often say things which are stretching the truth as they think that if they are straight then the other side may walk away (so people may not need to sell but then find a buyer and want to tie the two things up / someone may lose a buyer / house hey are buying but stay quiet and hope they can find a replacement quickly enough not to be all that noticeable / not need a mortgage but then think they might get one / be willing to move out into rented but then think that's not such a good idea etc etc).

So, it's fine to ask the agents when the seller realistically thinks she'll be in a position to complete - add a bit of time on - and you can then decide whether you think you want to go ahead.

nettie434 · 15/04/2020 09:55

I’d walk away too. In this situation I would be so delighted to have a buyer, I would want to get it sold ASAP. I accept the vendor doesn’t have the option of moving into a hotel or Airbnb while the work on her new house is done but why was it advertised as no onward chain? You found another house after the first one fell through so I think I would look elsewhere. Make it clear to the estate agent that you need to move quickly and don’t want a complicated sale.

MrsNettle · 15/04/2020 09:55

Surely any house is worth only what a buyer is prepared to pay. Usual expectations of what 'offers above' will be don't really apply in the current situation. Obviously I don't know what the market is like in your area but i think you were actually quite generous with your offer.
If this is a dream house, I'd take the risk with the vendor, otherwise walk away, something else will come up sooner or later.

HannahStern · 15/04/2020 09:56

I would wait OP. I think house prices will tumble....

Say no.

She has done you a huge favour. House prices will fall dramatically as we are entering the biggest recession in over a century.

Jimdandy · 15/04/2020 09:58

If you can wait, get your solicitor to do a conditional contract but make sure it has a long stop date.

So you can exchange so you’re protected from her pulling out, but it is conditional on her house being finished and also with a long stop date so it cannot drag on indefinitely.

I don’t think she’s a CF, I think it’s the current circumstances.

itswinetime · 15/04/2020 09:59

Walk away now even if you verbally agree a date I don't think you can enforce it and by the time you have spent money on the searches ect you will be losing money if you pull out and she will have. Withdraw your offer and sit on your hands I can see why you want to move ASAP but realistically house price's are going to drop after all this and you don't want to be stuck with negative equity.

GaaaaarlicBread · 15/04/2020 10:00

Walk away definitely . Not sure if you’ll see this as you have a lot of replies but my husband and I had the same issue with the house we are in now.
The seller turned out to be even more of a nightmare and he’d turn up to our house un-announced once we’d moved in and he’d say ‘have you got any mail for me?’ And i would say ‘you should redirect your post, we’re sending everything back to sender this is our house now please don’t just turn up’ and he’s try and come in to see what we’ve done etc ! shit like that and it became an absolute bloody nightmare you couldn’t make it up!

Wiltinglillies · 15/04/2020 10:00

Walk away, no, run away. You haven't even started and she's messing you around.
People saying she can do as she likes (pre exchange) are correct, however, she advertised it as no onward chain, so your offer is based on that, not waiting around for who knows how long.

If you're a FTB then wait. Prices are set to drop.

Amotherof6 · 15/04/2020 10:01

when my other house finishes could go on and on and on.... don't go there with that one!

Isn't there any other property you like for a similar amount?

PurpleFlower1983 · 15/04/2020 10:07

I would wait! House prices will fall and you will get a better house for your money.

Nottherealslimshady · 15/04/2020 10:13

I'd walk away. Shes gona be a pain in the arse and probably pull out down the line anyway.

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