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AIBU?

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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:
Passerillage · 12/05/2023 08:35

I would say no. Don't drop the 10k either. Just tell him that's a pity and you hope he is very happy in the smaller, darker flat, and you are putting your flat back on the market today.

It's a horrible tactic and he can just f**k off, really.

Roselilly36 · 12/05/2023 08:35

I would be furious too, I just hate buyers like this. Such an awful thing to do. I would stick firm, he wants the property, has incurred costs, he is more than likely just chancing his arm. I would be telling the EA to start, re-marketing the property tbh, that will sort out the situation.

we moved during the lockdown, our buyers tried it on wanting us to drop from the agreed price, we told the EA in no uncertain terms that we wouldn’t, we knew they desperately wanted our house and after 24hrs they said they would proceed at the agreed price, as they knew we would budge, I did wonder if we would be in this situation just before exchange, but no they did as we agreed.

I just don’t get how these people operate, we have bought and sold many times over the years, never messed anyone around, always paid the agreed price, only ever backed out of one investment purchase due to (very adverse)survey. I always think what goes around comes around.

good luck going forward OP, I hope the sale goes ahead for you.

Ihaveshitfriends · 12/05/2023 08:35

Tell him robustly to get to fuck. Can’t stand this shit.

PegasusReturns · 12/05/2023 08:35

I had a buyer do this the week before we were due to move.

fortunately I was 9mths pregnant and raging so I told the EA that not only would I not sell at a reduced price I wanted the property back on market by end of day as I not longer trusted the purchaser.

i had a grovelling apology and signed contracts by the end of the day.

MrsElijahMikaelson1 · 12/05/2023 08:36

Tell him to buy the other one then and go back in the market.
And withdraw the 10k off as well

Mindymomo · 12/05/2023 08:37

I wouldn’t drop anymore. I have a friend who has been trying to sell her Mother’s house, she died January 2021 and this has happened to her twice now, but she won’t budge on the price which is marketed at a reasonable going rate. You do wonder what the Estate Agents are doing and whether they are telling the buyers to do this at such a late stage.

EggInANest · 12/05/2023 08:37

Is he a landlord and cash buyer?

If so he may not be bothered that the other flat is smaller and less desirable because the rent he can charge is probably of a muchness. And with interest rates in savings going up an extra £20k in his cash account is worth having.

So hold firm if you are prepared to re-market.

Gtsr443 · 12/05/2023 08:37

Jengnr · 12/05/2023 08:34

Tell them to fuck off.

This.

tweener · 12/05/2023 08:37

I'd be telling him it's the agreed upon listed price or nothing. I wouldn't have dropped the 10k either.

Roselilly36 · 12/05/2023 08:37

PegasusReturns · 12/05/2023 08:35

I had a buyer do this the week before we were due to move.

fortunately I was 9mths pregnant and raging so I told the EA that not only would I not sell at a reduced price I wanted the property back on market by end of day as I not longer trusted the purchaser.

i had a grovelling apology and signed contracts by the end of the day.

Aww what an unnecessary stress for you. Absolute pisstakers some of these buyers. Pleased it worked out for you.

TheChosenTwo · 12/05/2023 08:37

Hold firm and tell him to jog on. Someone else will buy it for what it’s worth. Or he’ll just agree to it.
I’m going through selling a house for probate myself at the moment, I don’t care what’s offered I’m going to accept it - just want rid of the whole thing so I can mourn/grieve and move on. It’s like a noose hanging over my head constantly and I hate it. It’s nothing to do with wealth, it’s not my money, I want all the beneficiaries and surviving spouse to be paid and they can all get off my back and fuck off.

Lindy2 · 12/05/2023 08:37

As a probate property I'm assuming you're not in a chain that impacts you at all. A delay in a sale is just annoying rather than causing you to loose a property you wish to buy.

If that's the case I'd say the price is now the full original agreed price. The sale either completes today as planned or you will remarket.

No discount. No delay.

Your buyer can buy the less good apartment if they want but I wouldn't pander to them.

absnwpqimwest · 12/05/2023 08:38

My buyers did this to us, we told them to fuck off and put the house back on the market, didn't even give them chance to change their mind. It sold again within a week for more than they had offered.

Nobbies · 12/05/2023 08:39

It's a no from me too

absnwpqimwest · 12/05/2023 08:40

I'd go back to them today and say you've changed your mind, it's the full price or nothing and you're putting it back on the market today.

Teeingup · 12/05/2023 08:40

Very grubby behaviour. You’re not in a rush - so say NO.

ElderlyPerson · 12/05/2023 08:40

What a shitty thing to do. I would tell him to crawl back under the bed where he belongs.

trisfreya · 12/05/2023 08:43

Withdraw the 10k offer, and tell your estate agent to get it back on the market at full price straight away

WwhatEever · 12/05/2023 08:43

Say no OP. They're relying on the fact it's a probate sale and you don't need X amount of money for an onward purchase. It's a dirty tactic so don't reward them for it.

Shanksponyorbust · 12/05/2023 08:44

Tell your estate agent as he rejected your 10k reduction you’re back to the original offer which you’re willing to accept and it’s up to cheeky fucker if he wants to proceed. Say if he hasn’t agreed by the end of the day to put the house back on the market.

that last bit should put the wind up the estate agents. They’re leaning on you because they feel you’re more likely to cave in. But you hold all the cards. Fuck that.

Charlieiscool · 12/05/2023 08:44

I’d leave the £10K reduction on the table for a day and then put it back on the market. Don’t get angry, it’s business and you have to think clearly and get what suits you.

FlamingoQueen · 12/05/2023 08:44

Let him go! It is not (I assume) going to cost you £10k to re-advertise and sort the property again to go back on the market. Are there any financial penalties for him if he stops the sale going ahead? Don’t let him win!

Shanksponyorbust · 12/05/2023 08:44

So the 10k reduction is absolutely off the table. Don’t budge.

JauntyJinty · 12/05/2023 08:44

I'd be tempted to say something like "I was worried the price we'd agreed on was too low considering the furniture - I didn't want to go back on our agreement but am glad you decided to re-open negotiations. It's now £5k more." To be fair probably abad idea as if they're morgaged up to their ears they probably won't be able to get more money, but no way in hell woudl I be dropping as much as a fiver.

Make it clear you're not in a rush to sell, so it's not really trouble for you to re-market.

frankgu · 12/05/2023 08:44

It depends if you can afford it or not. Interest rates have gone up, do you want to go through the process again, etc... Yes it's a shitty thing to do as is gazumping but it's the nature of the beast.