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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

Hate our house buyers

167 replies

user1468749801 · 11/02/2021 02:47

We panicked and took £10k less for our house than we paid for it two years ago and our buyers continue to drag their heals despite us asking for an early exchange. We would pull out as the house is worth more, however turns our the buyers are the owners of the neighbourhood restaurant close by and really popular. So do we just go through with the sale or risk being snubbed by our whole neighbourhood...and not being able to go to the single decent restaurant in our village.

OP posts:

PurpleFlower1983 · 11/02/2021 06:42

Pull out!

Mazeofpipes · 11/02/2021 06:46

Are you desperate to move now? If it’s not essential then I’d pull out. I’d have thought with the stamp duty break ending in March they’d be pulling out all the stops to push for completion ASAP not dragging their heels. I wouldn’t overly worry about it being the owner of the restaurant. There are many reasons chains break down and I doubt people are going to spend much time thinking about this.

EveryDayIsADuvetDay · 11/02/2021 06:52

I think there are genuine delays in local searches etc. possibly exacerbated by more sales that people are trying to push through in the stamp duty holiday.
How long has the sale been dragging on? Does your solicitor think they are creating unnecessary delays?
At the end of the day, if you haven't exchanged you have as much right to pull out as they do.

Obvs. agree with PPs that as restaurateurs their finances will have been severely impacted by current situation.
Also thought that rural/ village locations were at a premium at the moment, so a fall in market value sounds strange.

Keratinsmooth · 11/02/2021 07:09

Totally depends on the reason for delay.

Nith · 11/02/2021 07:09

How far are you moving? If you're going anyway, does it matter what the neighbours think? I doubt anyway that they seriously care.

HowQuicklyTwoAndTwenty890 · 11/02/2021 07:14

@Summersun2020

Pull out...honestly nobody will give a flying fuck

This. And if they start bad mouthing you just shrug and say they hey messed you around. No more details required (and even that is not required unless you feel you need to).

every single person who has bought or sold a house has things like this happen.

IndecentFeminist · 11/02/2021 07:15

Define 'dragging their heels'?

Price alone doesn't make them unreasonable

Gilly12345 · 11/02/2021 07:18

Do you have an estate agent you can talk to? Years ago we were selling a house to a diviorced couple and they were dragging their feet due to their settlement, we gave them one month to resolve their settlement or the house would go back in the market.

Funnily enough they quickly sorted out their finances and the completion was very soon later.

KTheGrey · 11/02/2021 07:21

Pull out. You don't have to give a reason; that's your estate agents' job.

StillMedusa · 11/02/2021 07:22

There have been a ton of hold ups with house moves this year and last.
My DD2 put an offer in last August...and they have only just got to the contract stage because Covid has slowed down the chain... (and she's heavily pregnant and they are living with us!) They are hoping to be in next month. No one's fault.
Another friend is going into a new build.. again Covid slowed up all the checks etc. So it may not be them.. what is the benefit to them dragging their heels?
The price is irrelevant..you chose to accept it!

Ileflottante · 11/02/2021 07:23

Another one voting for Doing a Duke.

Why did you panic?

DDiva · 11/02/2021 07:30

I cant believe so many are saying pull out with s8i few facts !

What is dragging their feet weeks, months?
You need a conversation with your solicitor and/or estate agent about what is causing the delays.

What did the estate agent say about the offer ? look at recent sold prices these are relevant to your sale, what you purchased at 2 years ago is not.

Will this house sale allow you to do what you want going forward ?

Ignore the restaurant situation its irrelevant.

nancywhitehead · 11/02/2021 07:39

Well I don't think being popular should mean you get to screw people over and get £10K off a house.

If people ask then just tell them what happened and that they were being unreasonable! I really doubt you'd be snubbed by your whole neighbourhood over this.

Also, is a trip to a restaurant once in a while worth £10K to you?

daisychain01 · 11/02/2021 07:41

We would pull out as the house is worth more, however turns our the buyers are the owners of the neighbourhood restaurant close by and really popular.

I'm just putting your comment up again @user1468749801 so you can see for yourself how ridiculous it sounds.

I cannot believe that you'd think like this for the most expensive financial transaction you'll ever make. But there you go ....

thedancingbear · 11/02/2021 07:42

Pull out. They are mugging you off.

ThenCatoJumpedOut · 11/02/2021 07:44

It is not their fault you panicked and accepted an offer you are now not happy with?

Do what you want, but don’t blame them for offering 10k less than you wanted, and for you accepting it

It’s normal to try and get a bit off the asking price. It’s also normal to not accept lower offers (but you did, that’s not their fault)

Just think what makes sense for you: house prices may well go down more as financial crisis hits

Do what works for you. Don’t worry what people think.

Hard2Find · 11/02/2021 07:44

You can pull out of the sale but their is no guarantee that another buyer will come along and pay the full asking price

ThenCatoJumpedOut · 11/02/2021 07:46

I imagine restaurant owners may struggle to get a mortgage right now actually

Could that be why they are stalling? Their income must have tanked

HighSpecWhistle · 11/02/2021 07:47

I do think you'd be messing them around. You accepted £10k less, that's on you not them. You didn't have to accept it and could have held out for more.

Now you want to back out right before the stamp duty holiday ends, leaving them probably not able to afford the same style/size of house.

It's a bit screwy of you when there's no good reason (of their fault). But ultimately you're within your rights to pull out and should if that's what you feel you need to do.

But be prepared for reduced housing valuations now the stamp duty holiday is ending, I wouldn't be surprised if you find it hard to get more than they offered.

HighSpecWhistle · 11/02/2021 07:50

@nancywhitehead

Well I don't think being popular should mean you get to screw people over and get £10K off a house.

If people ask then just tell them what happened and that they were being unreasonable! I really doubt you'd be snubbed by your whole neighbourhood over this.

Also, is a trip to a restaurant once in a while worth £10K to you?

Offering a lower amount on a house isn't screwing someone over. They could have said no...

Chewingle · 11/02/2021 07:50

All these posters advising just to pull out

Given the OP, I would hazard a guess that the OP is perhaps not the best person to determine the accurate picture re her house’s value.

I wouldn’t pull out. Not at current time, no.

Monty27 · 11/02/2021 07:51

Pull out they're flakes
Who cares about them owning the restaurant you're moving anyway aren't you?

Chewingle · 11/02/2021 07:52

* Well I don't think being popular should mean you get to screw people over and get £10K off a house.*

You understand negotiation?
You understand the OP wasn’t in a head lock presumably when she accepted the offer?

TheCrowening · 11/02/2021 07:52

@nancywhitehead

Well I don't think being popular should mean you get to screw people over and get £10K off a house.

If people ask then just tell them what happened and that they were being unreasonable! I really doubt you'd be snubbed by your whole neighbourhood over this.

Also, is a trip to a restaurant once in a while worth £10K to you?

I hardly think it’s screwing people over to make an offer and have it accepted. I doubt OP had a gun to their head at the time.

Honestly I am so glad I didn’t buy my house from people like most on this thread.

KaptainKaveman · 11/02/2021 07:52

Just pull out. Stop treating them as if they are the local controlling Mafiosi cartel. If they can't pay. tell them to bugger off. They don't own you.

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