To tell gazunderer to do one?

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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.

The system in England really needs to change. It's ridiculous people can agree something, everyone spends money and then everyone can either do this or fuck off after months of process

Be prepared for the EA to tell you that you won't get a better price by relisting it. It's their standard line when they are too lazy to start again or their buyer friend is offering them a backhander if they can talk you into the lower price.

I would drop the 10k either. Remarket.

Provided you're prepared to accept my bagsy outranks your handshake we're all good.

No chinny reckons in response either.

OP - as a probate sale, presumably you know that you can’t make these decisions alone unless you’re sole executor? Just bear in mind that the beneficiaries (if you aren’t sole beneficiary as well) have the right to question these decisions if they’re compromised by them.

This is also true, and a key consideration. However the flat would need to be marketed for nearly 7 years for us to realise a loss of £40k putting us in the current position. We could always rent it out in the meantime as well and generate an income from it.

Just to clarify you are holding firm on the original offer no 10k or 20k discount? I’m confused did the buyer offer you 2 k above the 20 k discount he wants?

Hold firm if it was me definitely original agreed price no discounts.

Me too - what a completly cuntish way to act!

Hmm ea doesnt sound on the level you said no and theyre still offering you a lowere price plus took it off RM when they asked them to

sounds like they know each other

This is exactly why I always have a plan B because of people like you. I hope your vendors refuse to sell to you.

A CF tried something similar with us. I held firm. They paid up.

Keep strong!

Stand firm. Do not let this man or the EA bully you. Remember, location location location. Your flat is in a better location than the other one. Let him buy that one if he can't afford yours. He'll be doing you a favour by setting a floor for your flat. You're obligated to nobody but the deceased's beneficiaries, you must maximise your sale price. Hold your nerve.

Yes, am aware. All equally as outraged by the CF.

you must be a very spiteful and jealous person to make this kind of remark. OP's financial status is none of your business and has no bearing on the current transaction, which the CF buyer is trying to derail.

Has the EA been back in touch with you, OP? Have you mentioned reactivating the ad today? Don’t leave it until too late in the day.

That’s a good position to be in then. Empowering to have crunched the numbers.

Actually the two I looked at more closely were very nice, nice bathrooms and kitchens, one was a one bed the other was two bed. Both in nice parts of town, one we have looked at the development previously and it is well kept. I think there are just a lot of them and those two in particular have never reduced the price, generally when they have been on the market a couple of months the price is reduced, often it takes a couple of reductions to sell. I don't know if they actually get the reduced price or take an offer. As I said it probably varies and that is why the OP has to look at the reality where they are selling.

If he is then the OP will have no problem with finding another buyer, but the fact that she's prepared to knock 30k off the asking price suggests that it was initially marketed too high.

Honestly OP depersonalise this. You are both trying to get yourselves the best deal. Trying to report him left, right and centre doesn't help w that.

OP "So, update is that buyer has upped offer by £2k"

so, the original £10k reduction is now an £8k reduction?

what an arse.

I don't understand why retirement properties are an issue either.

Withdraw the 10k offer

It certainly helps if you can rent it, some developments don't allow it so that makes it hard. You also have to consider the lost opportunity of what you can do with the money in the meantime. Again it is something that will vary some will be really needing the money and others might not be bothered.

Personally I wouldn't buy one as I think there are too many issues.

Please come back and let us know how you get on.

"Selling (other people's) ... property in England sucks."

Sounds like a nice problem to have. You've inherited a flat from someone, and now you're desperate to flog it so you can spend all the cash so you can take a £10k drop?

Yeah the buyer's trying their luck, but lay off with the "oh poor me" attitude

I'd not let this buyer get away with this shitty behaviour. They would pay agreed price. OR I might after offering a £10k price drop, (I would never have done this) be so pissed off I withdrew from the sale and remarketed the property. If the buyer tries to get it back I'd say sorry but I don't like being held to random. The trust is gone. The goodwill would be gone too. You are already being incredibly generous throwing in all the furniture for free. Stand up for yourself OP.

Ooh, here's the buyer.