Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To tell gazunderer to do one?

973 replies

Mustnotbeleftblank · 12/05/2023 08:19

Selling a probate property, due to exchange and complete today. Agreed price was £20k less than asking/previous purchase price and included all furniture. Ours was the show home apartment, and another was put on the market which is empty, much smaller and in a less favourable, dark and dingy aspect at £20k lower than our agreed price 🙄 this flat is with an EA who persistently undervalues these properties which is why I did not use them.

Received a call from our Estate Agents yesterday. Buyer still wants our apartment but now wants to pay the same as the cheaper, crappier one or he'll withdraw and buy the other apartment. I am properly pissed, but offer £10k off to get it past the line.

Buyer is firm, £20k less or he'll walk.

I think the buyer is trying their luck, the other property was marketed in March. I've seen the buyer at the building whilst clearing out the property, I know they've been to look at the other flat long before this week and I suspected that he would try something like this at the last minute. I am also confident it's our flat he wants, just at the crap flat's price.

I've made them wait for my response, and having slept on it I am of the mind to hold firm on the £10k drop, requiring immediate exchange to stop him dicking about, or deal's off. If he walks, I will still have the property to remarket as well as all the furniture the buyer wanted included in the sale which will cover fees to date, and he'll have taken the competing property off the market.

AIBU to not reduce further and wish them luck with the other property if they withdraw, or do I suck up losing £20k?

Selling a property in England sucks.

OP posts:
Jonnycakes · 12/05/2023 08:22

Personally I wouldn’t even drop 10k. He’s trying to get a bigger, better aspect apartment for the same price as a lesser one. Along with all furniture. I’d tell him to do one!

Doggymummar · 12/05/2023 08:23

I had this on completion date before it's such a horrible tactic. I had to accept it, my house was packed up and in the removal van waiting to go. You don't have to accept and I wouldn't have even offered 10£ in your position. Tell him to jog on.

Tinkerbyebye · 12/05/2023 08:24

I wouldn’t even drop it 10k. I would advise it’s the price agreed or you will put it back on the market.

I agree the way selling houses is done in England is rubbish

drpet49 · 12/05/2023 08:25

Jonnycakes · 12/05/2023 08:22

Personally I wouldn’t even drop 10k. He’s trying to get a bigger, better aspect apartment for the same price as a lesser one. Along with all furniture. I’d tell him to do one!

This! Don’t drop the price at all.

SchoolShenanigans · 12/05/2023 08:25

You must be very wealthy if you can afford to drop £20k overnight.

I'd reply, saying what you've said here. They're comparing apples with pears and you've decided you want to sell at original asking price as it's worth that. Take it or leave it and they have an hour to decide.

If you can afford to lose that kind of money on it, you can afford to start over and get a sound offer. They'll regret this, im sure.

MsWhitworth · 12/05/2023 08:25

Doggymummar · 12/05/2023 08:23

I had this on completion date before it's such a horrible tactic. I had to accept it, my house was packed up and in the removal van waiting to go. You don't have to accept and I wouldn't have even offered 10£ in your position. Tell him to jog on.

A good reason never to agree to exchange and complete on the same day.

Fedupofdiets · 12/05/2023 08:25

It is a shitty tactic. If this happened to me I would love to be in the position to say I wouldnt sell it to you now even if you offered 20k more, but I suspect you just want it done with. Hold at the 10k which is more than generous and let him walk. That said whats the market like there? Would you likely be able to still find a buyer at the price you are asking?

Tockomtele · 12/05/2023 08:26

Do not drop at all.

Woopzies · 12/05/2023 08:26

YABU to have even offered 10k off.

Maray1967 · 12/05/2023 08:26

No drop at all. Tell him firmly it’s the original price or he does not get it. This is why when we sell ours we’re going into rented for 6 or 12 months so no one can pull this stunt on us. Sounds like you’re not under any immediate pressure to sell so I’d say no.

justasking111 · 12/05/2023 08:26

I wouldn't drop the price reading the details of the property

DisquietintheRanks · 12/05/2023 08:26

Just tale the emotion out of this, it's a business transaction. You charge what its worth to you, he agrees or walks. If you need the sale now, or no one else will pay what you've offered then you need to drop your price. If you can wait or think you can find another buyer then tell him sorry, no.

It is for him to act in his best interest and you to act in yours. There's no deal unless your interests coincide.

MsWhitworth · 12/05/2023 08:26

You hold all the cards here OP. You’re not in chain or anything, it’s a spare property, no rush to sell. Hold firm at the agreed price and remarket it if he drops out.

Casilero · 12/05/2023 08:27

I wouldn't drop the 10k either. Your flat is not the same as the cheaper one. Let him live there if he really wants to. He can live there and think about all the money he's wasted on fees to not buy a nicer flat.

OrigamiOwls · 12/05/2023 08:28

Don't drop it at all. It's original price today or its all off. This is a terrible tactic and is a snide way of trying to do business.

ArdeteiMasazxu · 12/05/2023 08:29

Tell them they are free to buy the crappier property at the lower price. Withdraw your £10k drop offer, as it was offered in good faith to facilitate a smooth process but you aren't getting a smooth process so it is no longer available. You will get another good offer soon and you don't have to do business with arseholes. They can either stop being an arsehole and do business properly or they can go elsewhere. Be firm that those are the only options.

Dillya · 12/05/2023 08:30

Jonnycakes · 12/05/2023 08:22

Personally I wouldn’t even drop 10k. He’s trying to get a bigger, better aspect apartment for the same price as a lesser one. Along with all furniture. I’d tell him to do one!

This. I would withdraw the £10k offer ‘having slept on it.’ Guarantee he won’t walk away.

AndIKnewYouMeantIt · 12/05/2023 08:30

SchoolShenanigans · 12/05/2023 08:25

You must be very wealthy if you can afford to drop £20k overnight.

I'd reply, saying what you've said here. They're comparing apples with pears and you've decided you want to sell at original asking price as it's worth that. Take it or leave it and they have an hour to decide.

If you can afford to lose that kind of money on it, you can afford to start over and get a sound offer. They'll regret this, im sure.

You don't need to be wealthy to drop the price of a probate property unless there's a large mortgage on it. I suspect the buyer is playing on this, as many won't try this in a chain, knowing the seller will just say they need the money for the deposit on the next place.

Minfilia · 12/05/2023 08:30

SchoolShenanigans · 12/05/2023 08:25

You must be very wealthy if you can afford to drop £20k overnight.

I'd reply, saying what you've said here. They're comparing apples with pears and you've decided you want to sell at original asking price as it's worth that. Take it or leave it and they have an hour to decide.

If you can afford to lose that kind of money on it, you can afford to start over and get a sound offer. They'll regret this, im sure.

FFS, it’s a probate property - dropping the price has nothing to do with wealth 🙄 When I sold one at 18 I had £0 to my name. However I wanted to get rid ASAP as the whole thing was a huge stress on top of a very close bereavement. I accepted considerably less for it just to move it on quickly which was 100% the right decision in my circumstances.

Anyway OP in your shoes I’d probably hold firm too. If you’re content to drop £10k then do it but yes I’d be tempted to call his bluff and be happy that he’s had to waste his own money on legal costs. It’s a shit thing to do and I wouldn’t let him get away with it (unless you genuinely consider it to be mutually beneficial)

FairAcre · 12/05/2023 08:31

Definitely call his bluff. He will have spent a lot of money and time on solicitors and surveyor etc. no way will he pull out.

custardbear · 12/05/2023 08:32

I'd say fine and put it back on the market - he'll know the other is Dingy and a worse option. He's a chancer - I couldn't be arsed doing business with a prick

EggInANest · 12/05/2023 08:32

I would hold firm.

The armchair warrior in me says call the EA for the other flat and make an offer so that they tell him ‘sorry, SSTC’, and enjoy a ‘bwhaha’ moment as he walks away with no flat at all, or comes crawling back to you at full price (and then, obviously, you withdraw from other flat) but that is a fantasy plan with flaws in RL.

Amimessingthisup · 12/05/2023 08:34

Jonnycakes · 12/05/2023 08:22

Personally I wouldn’t even drop 10k. He’s trying to get a bigger, better aspect apartment for the same price as a lesser one. Along with all furniture. I’d tell him to do one!

This. I wouldn’t even drop 10k. I’d remove that offer if he refused it. Tell him it’s the price or nothing. Put it back on the market. If it’s attractive it will sell.

The fact that you aren’t pressured to sell should work in your favour.

Tell your solicitor to tell him he’s welcome to buy any property he wants, but the one he is alluding to is not as desirable and priced accordingly.

TheKobayashiMaru · 12/05/2023 08:34

Call their bluff.

Jengnr · 12/05/2023 08:34

Tell them to fuck off.

Swipe left for the next trending thread