AIBU to continue running away from this house purchase?

[Quandaries]

Follow-up to www.mumsnet.com/Talk/am_i_being_unreasonable/4041606-AIBU-to-walk-away-from-this-house-purchase

Don’t even know where to start.

I’m a little worried that what I’ve posted so far makes me recognisable but what I’m going to post makes the sellers from hell recognisable so I’m not sure of the best way to go about it.

Very disappointing for you OP but this may indeed turn out to be fortuitous.

It's natural to feel low. At the end of it you've lost out... but on the other hand it's becoming crystal clear you've dodged a bullet by not having to deal with these mad people any longer

Yep, I fancy a day out and I will gladly do a viewing for you where I am VERY enthusiastic and put an offer in at full asking price. Then change my mind a little later of course.

It will all be well in the end, as PPs say you have dodged a bullet. Nobody offered over asking price despite prospective buyers queueing up to view, only OP offered asking price so why on earth, especially in this current climate, do they think someone will pay so much more? Madness!

If I were EA I'd want to send them a Cease And Desist letter with respect to his listings work, that really isn't on at all, but otherwise draw a line under the whole sorry mess and move on.

There will be another house. Honestly, so often it works out for the best.

(Tony's Chocolonely so much better than Cadbury's and properly ethical too)

I think you did the right thing. There is no guarantee that they wouldn't keep upping the price.

Back in early March I put in an offer on a house, and it was verbally accepted. A couple of hours later the EA called back, very embarrassed, and said that in the meantime another buyer had offered more, and could I let them know my final, best offer.

At which point I said no - if the seller is willing to go back on their agreement I am not going to spend money on a survey etc and risk getting gazumped, I no longer had any trust in the seller and withdrew my offer.

Two days later a property came on the market again when a buyer stopped answering calls. Was absolutely perfect for us (better than the other and a fraction cheaper). The sale went ahead smoothly and we moved in June. Love it here.

That period where you have started to spend money but have no come back if the seller changes their mind is horrible.

I’d be tempted to get someone I know to out in a full asking price offer and pull out before anything major happens just to fuck them up .

I have read all your posts and all I can say is, what gits these sellers are. Absolutely taking the piss out of everyone involved. Hope the EA sues them and wins.

In the meanwhile, I hope they get their just desserts in failing to sell.

Either that or that wild badgers take over the property and bite their backsides every time they try to do a new viewing.

I'd be sooo tempted to get some friends to look round and tell them they must be joking asking that price.

I’d be even more tempted to get your chums to say ‘wow - is that all you are asking? Bargain!!’

And then watch the greedy buggers pop the amount up by even more...

I wonder how easy it is to look on Rightmove for properties that have been bumped up almost 10% in a fortnight ?

If anyone can do it I would love a pm

Me too.

@Quandaries. Are you in England? It's very unusual to pay a deposit unless its a new build. The Estate Agency can write a cease and desist letter for the copyright infringement of the photos. He will get nowhere re the fee. If you are in England none of this sounds right.

Me too ☺️

OP, I'm so sorry you have been messed around by these greedy sods.

FWIW, I would submit a statement of facts to the EA. If you still want to move to the area, ask if you could remain on their books in case anything else suitable comes up. They know you have funds and are a serious buyer, which makes their lives easier. However, depending on the location, I would ask the EA to warn all the other local EAs about the sellers if they haven't already done so. When the greedy sellers inevitably come crawling back because they can't sell at their Disney price, it would be interesting to see whether or not they can get an EA to work for them. I would bet that any commission would be more than doubled.

As others have said, at the time it feel like a kick in the guts, but often there is something better waiting for you. We really liked a house but it's on a very busy dual carriageway. Downstairs was amazing, upstairs less so but could be with some work. We were outbid. Fair enough, it happens. We kept looking and another place 5 miles away came up, which we ended up buying. DDs were in the same class as the DD of the people who bought the first house. Apparently it was riddled with dry rot and they had to have the staircase ripped out and rebuilt. Then in the winter, a motorist skidded on the ice and went straight through their fence and into their dining room. I'm so glad we didn't get it.

Surely even if they have changed the address slightly, anyone interested in buying will find the original listing and question the 75K price hike?
The agent must be on solid ground taking action against them if they are using his photos and drone footage

OP, I felt that you did the right thing in walking away, which has since been proven by their actions.

I work for an EA part time, and they specifically own the photos/drone footage/videos etc and it is specified in the contract that it is their property, unless the vendor has paid for upgraded photos etc. There is also a clause that if the house sells in any way within XX days that the commission is still payable. It has to be done to stop people from using the EA to list the house, get the interest, then cut them out.

So hopefully the EA will have some come back on them for using his videos/photos. They are shitty people though and I hope it all totally backfires on them.

You will definitely find something that is more suitable or a better price or better area or something. Good luck.

@Quandaries god, what CF these SS are. You did the right thing. Just wish we had a system more like Scotland where both parties are committed right from the start

@Quandaries

Thanks all.

Feeling really shit about it all again today.

I definitely think their new asking price is ridiculous. I looked on Zoopla and no similar or even bigger houses in the area has sold for close to what they’re asking- including one with a very lovely indoor pool.

Going to give the EA his statement but say I’m not prepared to do anymore and just draw a line under it. I looked at the listing last night and can see they also uploaded the video tour and drone footage he did- which includes his voice. They’ve just cut it off at the end where he gives his contact details

A few of you asked what DH makes of all of this. He’s the same as me- loved the house but agog at how they’ve behaved and just wants to move on.

Funnily enough (and trying not to put too much detail on this) but he works in an area that’s very heavily linked to the economics of the property market and their third quarter reports for 2020 were issued yesterday and really don’t look good. Their internal economists are suggesting that there’s going to be a sharp shift and advised against investment in property.

So maybe all of this is a sign.

There is something weird going on. I'm not saying from your end. An EA who is part of a large national organization doesn't know what to do when his photos etc are used. They would have a legal team all over that. We are small and can get them taken down within 24 hours. I'm guessing that you were paying a buyers fee (we have never done this) and that is what the deposit is? People in England pull out all the time (I think it shouldn't be that easy) so not sure how the EA expects to get paid his fee. His contract, his fee, his problem - not yours.

So moving forward - some people are horrible and it sounds like you have dodged a bullet. Their house might be nice, but by the sounds of it the energy inside will be a bit warped. Your forever home will be there waiting for you. Avoid the National corporate EA's, and find the good local independents. If you dm me I can find you some in your area.

Predictions on house prices vary, and there are many economists who have called this wrong. In fact in our area, there was no need for the stamp duty holiday, as the market went mental as soon as lockdown was lifted. Things are normalizing now, but going into winter things tend to slow up anyway.

Anyone who advises against property needs their head read! If you were looking BTL this would be a different matter, I may tell you to hold off (dependant on where you live), but if you are looking for a home, carry on looking and forget what the "economists" say.

Going to give the EA his statement but say I’m not prepared to do anymore and just draw a line under it.

That's a good call OP.

There's no point dwelling on it any further.

We can all hope karma comes to the sellers but there's no point facilitating it - the uplift they are asking for is ridiculous.

I think they've got carried away by greed. They don't need to sell as they live elsewhere, think this mad rush to move move out of cities will push up the price and feel if they got an offer from you they can do better.

I very much doubt they will and they are taking a big risk given I think it's likely we will see the property market nosedive as the Covid economy starts to bite.

Don't lose hope OP - your new home IS out there.

When we lost the house as I described in a pp the EA said to me that sellers can be very naive.

The reality is there are many "perfect" homes for a buyer but hardly any buyers prepared to overpay or be messed about by a greedy/annoying seller. Just because you own something other people want doesn't give you all the leverage because the ultimate leverage is for a buyer to walk away.

Good luck on your house hunting

A lucky escape is a good thing, even if you don't feel it right now. If the market does slump you might find you can buy a much better house for the same money and not have paid over the odds for it. They might also find they need to reduce for quick sale to pay the fees for using the EA Intellectual Property (and that he earnt his commission too...).

You said nothing wrong.
A deal is a deal

Here's my two pennith worth

They're playing games. Sometimes you have got to walk away. Don't forget they know that they're pulling a fast one and maybe (should be) will feel embarrassed at seeing you at the school gate. I'd send a message, "we have acted up front with integrity, and the sale was agreed at £X. We have already done X, Y, Z already as the deal was agreed. If you wish to renage on our agreement and sell to someone else please let us know by (date) so that we can make moves to start looking for another property."

You maybe want to alter it a bit but you get the gist.

Get a man with a van to go and pop a used mattress and defunct fridge in the driveway of the house...making sure no CCTV is purring in the background..

NOT my usual style and I thoroughly disapprove - but really - what hideous and downmarket behaviour from the sellers

@Vynalbob

You said nothing wrong. A deal is a deal

Here's my two pennith worth

They're playing games. Sometimes you have got to walk away. Don't forget they know that they're pulling a fast one and maybe (should be) will feel embarrassed at seeing you at the school gate. I'd send a message, "we have acted up front with integrity, and the sale was agreed at £X. We have already done X, Y, Z already as the deal was agreed. If you wish to renage on our agreement and sell to someone else please let us know by (date) so that we can make moves to start looking for another property."

You maybe want to alter it a bit but you get the gist.

The situation has moved on somewhat.

OP, since you aren't in a chain, needing to move in a rush, I would actually slow down the house search for a little, unless you see a brilliant house at a great price. Various financial analysts predict quite a slump in house prices within a few months. That said, desirable properties do tend to buck overall economic trends. But it will be less of a sellers' market. Who knows a better house in a higher price bracket will become cheaper.