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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:
Flossyfloof · 15/04/2020 10:16

She is a CF. Walk away.
Offers over doesn’t mean 20k more. It means offers over. If no one else offers as much as you then they can accept - or not. You can offer less - if they want the sake badly enough they may accept. All depends on how much they want/need to sell.
For you, there’ll be more houses and I think prices will drop. You’re in a strong position to negotiate and you don’t need to be messed around by anyone.

scoobydoo1971 · 15/04/2020 10:18

I have bought and sold many properties over the years. My advice would be run for the hills. It is going to be a buyers market in forthcoming months/ years due to the predicted recession. Don't over-extend yourself with your borrowing...you could lose a job, need emergency repairs on your new property...you need some reserve to deal with life challenges. I am currently doing up a property that I thought only needed cosmetic updating, and estimated 10k since doing the labour ourselves. That has climbed to 30k since various structural issues became apparent like dodgy electrics, damp, double glazing failing...don't buy anything that really is above your affordability as you still need quality of life around this purchase. The seller sounds difficult, and could pull out of the deal right up to the point of exchange leaving you with a solicitor bill and no keys. If she is having building work done, that maybe delayed as contractors are only supposed to be doing emergency jobs at the moment. It could turn out to be an expensive nightmare...legal fees, surveyor costs etc. I sold a property last year and searched for a solicitor online. I would recommend going with a 'no complete, no fee' option as we live in uncertain times and people pull out of sales a lot. My neighbours chain fell down 6 times before they eventually sold up and left!

UniversalAunt · 15/04/2020 10:18

This has the potential to drag on.
Cut your ‘losses’ & walk away now.
Who knows what will be on offer once lockdown lifts & the new normal kicks in .
Being brutal about this, house sales instigated by ‘death or divorce’ (& I would add moving on to residential care) means that the vendors are realistic & efficient about the process.

You have important priorities with your little one & a need for more space, keep this clear cut in your mind. So don’t rush at what seems to be a quick move, take your time to check out where the vendor is at, because sometimes the ad can be too good to be true.

Keep in touch with your mortgage provider as the apres-lockdown market may be a bit flakey & many with mortgages in place may feel pressured by how long their mortgage terms are valid but find the finance folk are more phlegmatic about the market.

Bear in mind that about a third of house offers fall through, so you may see a house you missed come back on the market again.

Greenkit · 15/04/2020 10:18

I put an offer in on March 26 and we completed July 26 so it takes a long while anyway sometimes

Tajiri · 15/04/2020 10:19

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

Worse than that, it will be a depression.

Walk away OP. You hold all the trump cards.

MrJollyLivesNextDoor · 15/04/2020 10:30

You're a 1st time buyer?

WALK AWAY

House prices are going to fall, there's no doubt about it.

Also you'll be forever hanging on waiting for her to get her other place sorted, I'm annoyed just thinking about it Grin

SoupDragon · 15/04/2020 10:40

When I bought my current house the previous owners wanted to stay until their new house was ready. We agreed a specific date for completion and they moved out on that date even though their house wasn't finished. So, that aspect can work. There is no real chain insofar as there are no houses up the chain which can fall through

That said, it all depends on how much you love the house. Given the current situation, I agree that now is not right time to be buying.

Speckledhen10 · 15/04/2020 10:42

Walk away OP. And definitely don’t consider purchasing the property & allowing her to stay “for a few months”.
House prices are going to tumble. She’ll be desperate in 6 months & will be lucky to get 140K. It’s going to be a buyers market very soon.

Itsallgonewoowoo · 15/04/2020 10:46

She's not a CF for refusing your first offers if advertised as Offers OVER. In fact your first offer would be a bit CF. We had ours as over 270, it sold for 315 in the end and I considered the bloke who offered 260 and moaned we didn't consider it as a CF.

However her staying put is not so straight forward. As others have said walk away, it will be a nightmare, even a straightforward sale is hard, this has alarm bells every where and with the uncertain market I'd not rush.

oldmum22 · 15/04/2020 10:55

My gut instinct is to walk away . This has grief and aggravation written all over it . As others have said , I think the property market is going to tumble (you only have to look at share prices), so you could be in a very strong position post lockdown .

Interestedwoman · 15/04/2020 10:56

It's her house, she gets to choose everything about it, especially as she could easily wait for someone to offer the extra £3000 instead.

Interestedwoman · 15/04/2020 10:57

As she's elderly, of course she'd be even less keen to live somewhere where works were being carried out than most people.

Roselilly36 · 15/04/2020 11:00

How long will you need to wait though OP, building materials are in short supply which will probably delay her renovations. Do you really want the house? Personally, I would walk away, it’s going to be a buyers market I expect.

CameraObfuscated · 15/04/2020 11:03

There is nothing more unappealing to me as a buyer than vendors who are in no hurry to move. She is free to set whatever timescales she wants - as can you - but if you can't agree between you then there will be no sale. I would run a mile from a vendor who is being this stubborn and unaccommodating, this early. Save your money. It'll go further in 6 months.

countrygirl99 · 15/04/2020 11:03

Having moved house a few times I would say walk away. It's going to be one problem after another. I wouldn't mind getting that after you have clocked up expenses she will ask for more money.

countrygirl99 · 15/04/2020 11:05

Betting not getting

NoMorePoliticsPlease · 15/04/2020 11:05

Walk

StripeyDeckchair · 15/04/2020 11:10

Walk away she will be a pain all the way through. I wouldn't even trust her to go through with the sale.
If you agree then look for a discount on the price.

Lunde · 15/04/2020 11:16

If you are wanting a quick move in date then I would walk away from this one otherwise you could be in for a long wait. I would also be wary that one result of covid is that house prices drop and you are left overpaying for this house in a few months,

We moved into our current home under similar circumstances and it dragged on for a long time. We viewed, offered and were accepted on May 25th. We were told that the owners were building a new house that would be completed late September .... however .... a run of really bad weather meant that the concrete base of the new house didn't set properly and so the building work dragged out and we could only finally move in on December 7th ... over 6 months later.

Cheerbear23 · 15/04/2020 11:18

Leave this one, it’s a how long is a piece of string scenario, there’s no end date on this, she’s not in a rush to move and who’s to say when the work will be finished?

Whattodo1610 · 15/04/2020 11:24

Definitely walk away OP!

She’s not being unreasonable but she can definitely delay things her end until her house is ready ... you could end up dangling for months.

Walk away.

weliveincrazytimes · 15/04/2020 11:26

I would walk away OP for all the reasons pp have already said.

MsFrosty · 15/04/2020 11:26

I would say its 160k and you get to stay in the house or 163 and you complete within 6 weeks.
It's not really a sellers market right now so the agent is likely to work on convincing her to accept

windmill26 · 15/04/2020 11:39

I would get back to her with a lower offer considering her demands.There is a BIG chance that after all this coronavirus mess house prices will plummet so you could end up paying over the odds and having the seller sitting there for an unlimited period. I truly believe that when things start to feel "forced" are not meant to be...this transaction feels forced!

CruCru · 15/04/2020 11:43

Run away.

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