AIBU to tell our buyer to fuck off?

[AppleWin]

We put our house on the market in March. On the first day of viewings we had multiple offers. We went with a particular couple (even though their offer wasn’t the highest) because the agent stressed that they were very proceedable and had a high deposit so wouldn’t have any hiccoughs with their mortgage - and also because they weren’t a landlord.

In July, they still hadn’t booked their survey or had their mortgage approved. It’s a character property and you’d be bloody stupid not to have a survey (even though we know the property is fine). This was very concerning because, when we had the survey on the house we’re buying, there was a six week lead time. After a few weeks of the agent chasing them and them dicking about, they said that they didn’t want a survey and their mortgage was approved. We thought they were stupid as hell not to have a survey but it’s their choice.

They’ve been pushing for a very quick move and this has mostly been held up by searches and the solicitors. We were due to exchange tomorrow and complete on Friday. As such, we spent the bank holiday moving all our possessions into a storage unit (we have a toddler and a newborn and are now living off a few items we can fit into just our car). We’ve got DS booked into a new nursery from Monday and DH has a new job near the new house (this is two hours from our current house). Obviously our risk but it’s not physically possible for us to have moved out on time with a short turnaround between exchange and completion - especially with DH and I both working full time.

Our agent phoned this morning to say that they’ve changed their mind and want a survey. We’ve told the agent that they had their chance and there’s no way. Even if it’s quicker to let them have their survey than find a new buyer, I no longer trust them not to fuck us around at every stage. We’re not reducing the price so the survey won’t help them anyway.

AIBU to say no to the survey (and curse them to hell for good measure)?

Yeah, they've had trouble finding a mortgage, they've now had a provisional mortgage offer and need the survey to get the mortgage. They've lied so you didn't drop them and sell the property to someone else. I'd bet a tenner on it.

Not necessarily. A survey isn't a requirement for a mortgage. Some lenders may request it but never been something I have or anyone else I know has been forced in to getting. It's a home buyers survey, not mortgage survey.

I'd agree with that. We became landlords more by accident than design. It was a real PITA made very little money out of it.

The Government are doing everything to discourage people becoming landlords.

Mortgage lenders do normally require a survey but they usually do it online - no physical surveyor on site, so you wouldn’t necessarily know it’s been done unless it throws up a problem.

It's a little bit of interpretation or semantics, depending on your point of view.

Mortgage lenders will carry out a valuation, to ensure that the property represents suitable security for the loan. Depending on the type of property, and more importantly the LTV%, this may be a 'desktop' job.

If a surveyor does visit the property they may only spend 15/20mins at the property. It's not really a survey.

You are absolutely not being unreasonable but don’t cut your nose off to spite your face. If it’s a completely independent surveyor not linked to the lender they could be out and have the report written up within a week. It will take you far longer to find another buyer and your situation sounds pretty desperate in terms of needing to move.

Whilst this is annoying and there is a chance they are playing games you have to put emotion aside and look to do what will result in the best deal, in terms of finances and time, for you.

I would do the following

1. Ask your current agent to relist due to your concerns about the intentions of the buyer. I don’t get why you’d list with another agent as surely a delay in changing over? I don’t think the agent can be blamed for this as sadly they are at the behest of the buyer as well.
2. Allow the buyers to have the survey but make it clear it’s going back on the market whilst that is competed and if you receive offers you will consider. This may force their hand.
3. if the buyer tries to negotiate down, on receipt of the survey, use the fact the property has gone up in value since March as leverage. You may also have other offers to consider at this point but please keep in mind that if a survey reports on any real issues with the property this will likely crop up with any buyer (as you say it’s a period property so most people will have a survey).

I appreciate you can afford to move and rent this property out but do the maths as to what this will cost you in stamp duty, extra mortgage payments whilst finding a tenant, repairs and maintenance etc. The housing market is tough at the moment and selling a house is so stressful but in my experience those who do the best out of it are the ones who do their best to take the emotion out of it and make decisions based on practical and financial thinking. I appreciate someone had told you they told their buyer to “get to fuck” but they also conceded that in the long term this decision meant they got less for the property that the reduced offer from the original buyer and a fortune in mortgage payments. I am sorry I don’t see that as a win or a sound financial decision. From your posts you sound practical and I would say think practically and look at this long term.

I really hope this works out for you x

how’s it going?

My husband has just sold his parents house and person wasn't in a chain and seemed sound. They have messed about something shocking. If someone really wants your house they will be organised and take it. They don't know what they want and if they have asked for a survey this late, they are either highly disorganized or it's a delaying game, so you are close to the wire and they will seek a discount. I would drop them either way.

Did the buyer stick around?

That’s good. The rental market needs more control both of landlords and tenants.

Isn’t this gazundering or whatever it’s called? Or at least looking like it’s going that way? I was in a chain and my buyer had this done to them last minute. We were right on exchange and surrounded by boxes with removal van lined up. The buyer above mine offered 20,000 less. My buyer immediately pulled out put back on market had another sorted immediately and we lost about 3 weeks. All went well it was a desirable property in an area going up in value. Original buyer crying through email that they didn’t mean it please re consider. Very satisfying result !!! Good luck sounds very stressful hope it sorts quickly

I would dig my heels in and refuse to sell to them. They have royally messed you around, were probably going to bargain with you using the survey. They are unethical buyers, you can do better. I remarketed my house earlier this year when the buyer kept stalling, didn't have a survey, asked stupid questions (did I have planning permission for the rear garden patio!?!). I binned him off, got another buyer paying a few grand more, done & dusted in 4 weeks.

when the buyer kept stalling, didn't have a survey, asked stupid questions (did I have planning permission for the rear garden patio

that's the fault of the lawyers, they should know it's not required and not put the question forward.

Lawyers can be a right pain actually. When we bought our current house we agreed a 5% deposit with our buyers instead of the usual 10% so wanted the same for our house. Our lawyers said the buyers had said no. When we spoke to the buyers they said they hadn't been asked and agreed immediately.

sellers not buyers - we wanted to pay a 5% deposit on the house we were buying as well as accepting a 5% deposit on the one we were selling.

I suspect they’ve made a decision by now - you’ve resurrected a thread the OP a started in August.

What's with all the zombie threads being reanimated today?

I suspect some people are seeing "related threads" which isn't perhaps as date centric as "trending" (Which they might also see as well as Christmas trending.)

Yeah, dump them. Some buyers absolutely take the piss.

The buyers of my parents house did similar. They announced, only a few days before the sale was due to complete that the flat roof of the garage needed replacing or resurfacing or something. To a cost of about £3000. My parents just couldn't face the idea of the sale collapsing over the sake of £3000, so gave them a cheque to cover it, under the proviso that the if the work was so urgent, it would be done within 6 months. And most importantly, they got that agreement signed and witnessed.
Parents stayed friendly with the lady next door, and put her on watch-out duty for this work... Was it ever done? Nope. So parents took them to small claims court and got their money back. :)

Buyers can be such bullshitters.

The new reality is that buyers are going to be telling sellers to fuck off, sellers who have not yet grasped this will be left sitting where they are or else chasing the market down, I think the surprise move from Japan could be the straw that breaks the UK mortgage market, LONG overdue IMO.

I had 3 offers fall through. 2 due to crappy ‘buyers’. The last one, he messed me about for 3 months, between him and his solicitor it was really hard to get hold of them. As soon as we were ready to sign, he goes ‘oh I want a full building survey’. This was a huge red flag for me, (told EA tell him if he thinks I’m reducing for some bs he thinks he can dream up he can get lost, estate agent goes told him and he said, oh he always wanted to do it.. yeah right!). Whilst he did his building survey.. I got rates in for how much rent I could get, what % a company would want to fully manage, etc.

surprise .. he came back saying there were soooo many legal and structural issues.. of course he couldn’t also share this survey mind you.. apparently I had managed to live in a house that was flooding, rotting etc .. told him to go f* himself through estate agent.. after all this crap I wasn’t going to reduce by a penny.. he kept coming back .. suddenly he could share but with estate agent .. told him fine .. but also send to solicitors.. guess what.. I’ve moved, got it rented out and he’s still not shared and still making excuses.. some people are just a**holes. Luckily I lost time, but not ££. He had the gall to complain about the time and money he’d spent.. told him through his own sheer bs and dodgy practices. Want someone to blame? Look in the mirror.

Will put it back on the market after 12months, hopefully it’ll be less stressful with not living in the place.

I don’t know why I’m flabbergasted by the sheer crap that people come up with.

@AppleWin im in a similar position myself right now and I wondered what happened for you in the end? Did you stay with your original buyer? Hope it worked out for you.