Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

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:
Longtimelurkerfinallyposts · 12/05/2023 08:45

Agree with the rest: withdraw your generous offer of a £10k discount.
Re-list it at its original price if he doesn't complete today at the agreed price.
Let him have the dingy flat if he doesn't change his mind.

WeWereInParis · 12/05/2023 08:45

I agree with PPs. I'd take the £10k reduction off the table (I wouldn't have offered it) and tell the estate agent to get it back on the market at the end of today if not agreed at original price.

frankgu · 12/05/2023 08:45

Although weirdly gazumping is tolerating more!

frankgu · 12/05/2023 08:47

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

That's a long time to have not sold particularly as the market was incredibly buoyant in 21!

billy1966 · 12/05/2023 08:49

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.

This.

Half the time EA's appear to work against their client just to get the property sold and off the books.

Aposterhasnoname · 12/05/2023 08:50

Not a bloody chance would I drop one single penny. In fact I’d tell him that now you’ve slept on it, the price is going up 10k on his original offer or you’ll remove the furniture and if he doesn’t like it he can take a hike.

DisquietintheRanks · 12/05/2023 08:52

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.

If no one will buy it in a buoyant market in over a year then the price is not reasonable.

EmotionalSupportWyrm · 12/05/2023 08:53

You're in a position to refuse and go back to the agreed price. Do it.

We were gazundered by the "cash buyer" at the bottom of our chain when we're due to exchange and complete within 3 days during COVID. The people in the chain took the hit, spread between us, because we were all packed up, movers booked, new job in new town waiting for the people at the top. Pretty pissed off and really hoping karma hits then at some point.

rumpsteak · 12/05/2023 08:53

I wouldn't drop the 10k either as others have said.

RudsyFarmer · 12/05/2023 08:55

Fuck that. I’d go back up to price agreed or take it off the market.

Anjo2011 · 12/05/2023 08:56

Tell them you’ve had a rethink and are not prepared to reduced even by the 10k. Call
their bluff and get the agent to re market it.

2chocolateoranges · 12/05/2023 08:57

I wouldn’t even reduce it by 10k. Tell the estate agent to put it back on the market.

WestOfWestminster · 12/05/2023 08:58

Another one saying don't even reduce it by 10k

tatteddear · 12/05/2023 08:59

Don't even drop it 10k...

Malificent1 · 12/05/2023 09:00

Withdraw your generous offer of £10k reduction and tell them it’s full agreed price or good luck with the shitty, small, dark apartment.

AlisonDonut · 12/05/2023 09:00

I'd tell the estate agent to wish him all the best in the grotty apartment and remarket yours.

Dreamwatchwait · 12/05/2023 09:01

get on the phone and instruct your agent to remarket this morning and instruct your solicitor to withdraw the contract from the buyer this morning … there is time in the day to go through this paper exercise and still complete today if your buyer suddenly changes his mind .. it may have your solicitor and agent a little stressed but it is doable

PegasusReturns · 12/05/2023 09:01

They’re leaning on you because they feel you’re more likely to cave in. But you hold all the cards. Fuck that

this is true, the EA works for you but at this point they don’t care. Commission on an extra €20K is negligible, they just want the sale.

be absolutely unequivocal with your EA: You will no tolerate this outrageous behaviour and want the property remarked immediately. That should push them into earning their fee by persuading the buyer that she should be proceeding.

farmerboy · 12/05/2023 09:02

I'd be furious and, like others, withdraw the £10k reduction and back on the market it goes. Keep your nerve!

Malificent1 · 12/05/2023 09:02

And they have until midday today to stop dicking about being Billy Big Bollocks and then you will be remarketing.

SoupDragon · 12/05/2023 09:02

I'd withdraw the £10k offer.

LadyLapsang · 12/05/2023 09:05

When I was faced with a similar situation, although not at the last minute, I gave them the weekend to reconsider. The husband still pushed for the price drop. I relisted, accepted a higher offer than the original asking price four days later, and completed at the higher price without complications. Withdraw your offer to compromise, they buy at the agreed price or you relist.

Wherewithout · 12/05/2023 09:05

I wouldn’t have offered the £10k either. Definitely don’t drop the price any more, get it back on the market at the original price and tell your buyer to go for the small dingy one!

Shelefttheweb · 12/05/2023 09:07

YANBU but YABU to offer £10k off - withdraw that offer and say agreed price or walk away.

VivaLesTartes · 12/05/2023 09:07

Completely agree with PPs, withdraw the 10k, let him purchase the other property of he wants - then it's not available for the next buyer to compare!