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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:
AllyArty · 13/05/2023 19:35

If u can afford to hold firm then do. They are trying to take advantage of the situation.

HappyHolidays22 · 13/05/2023 19:41

Any update OP? I’m really hoping he has come back to offer the full price and you’ve said no and got someone else to buy instead (I know it won’t work like this but this would be a dream scenario!)

Solonge · 13/05/2023 19:53

We have had this twice, both times just as we are due to exchange. Ive said thats your choice, we are not dropping the price. One went off in a huff then came back a week later and offered to pay agreed price, we refused as we didnt trust him and found a buyer with a couple of weeks, the other one tried yo haggle and we said take it at the agreed price or we will refuse to sell to you. He bought it for agreed price. I wouldnt deal with people like that. No morals, no principals.

Elisi · 13/05/2023 19:56

You are in no way being unreasonable, but baby, a gazunder is what the old chamber-pots used to be called, as in'gazunder (goes under) the bed' 😂Gazumping is the term used when dickheads screw your house sale/purchase over. Stick to your guns poppet, this kind of behaviour is an absolute pain in the a*.

Theunamedcat · 13/05/2023 19:56

Mustnotbeleftblank · 13/05/2023 10:20

You do know that probate = someone's dead, and you're suggesting that's a nice problem to have? Weird take. You sound like your projecting some of your own issues in that comment, are you ok?

From this thead there are countless examples of gazundering at the 11th hour, and I think there's almost unanimous agreement that it's a shitty thing to do, or that buyers are even allowed to get away with it under current English law when elsewhere in the UK the price agreed is the price paid.

Show quote history

Sorry for your loss

Tell them to fuck off and remarket do not sell to them at the bargain price they can take the dingy flat

JoeBlogger · 13/05/2023 19:59

I would say you want the original price and he has 24 hours to make up his mind or it is going back on the market. Play hardball, you know he wants it, and if he messes around tell him you are increasing the price, but only for him. I think the phrase he/she needs to hear is bu55er off.

MagicClawHasNoChildren · 13/05/2023 20:01

Elisi · 13/05/2023 19:56

You are in no way being unreasonable, but baby, a gazunder is what the old chamber-pots used to be called, as in'gazunder (goes under) the bed' 😂Gazumping is the term used when dickheads screw your house sale/purchase over. Stick to your guns poppet, this kind of behaviour is an absolute pain in the a*.

I thought gazumping and gazundering were two different (and shitty) behaviours in house-buying?

Gazumping - when your vendor suddenly goes for a higher offer.

Gazundering - when your buyer suddenly tries to 'negotiate' a lower price.

DarrellRiversCriminalBehaviourOrder · 13/05/2023 20:03

Elisi · 13/05/2023 19:56

You are in no way being unreasonable, but baby, a gazunder is what the old chamber-pots used to be called, as in'gazunder (goes under) the bed' 😂Gazumping is the term used when dickheads screw your house sale/purchase over. Stick to your guns poppet, this kind of behaviour is an absolute pain in the a*.

Are you a grizzled detective in a 1940s film noir?

AliceOlive · 13/05/2023 20:04

DarrellRiversCriminalBehaviourOrder · 13/05/2023 20:03

Are you a grizzled detective in a 1940s film noir?

Show quote history

🤣 That post made my day!

Skodacool · 13/05/2023 20:09

Mummysalwaysright · 12/05/2023 14:16

"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

What a lovely person you are! You do realise that someone has died, probably close to OP.

Bouncybits · 13/05/2023 20:13

If you’re in a position to be able to put it back on the market that’s what I’d do . Good luck

NetZeroZealot · 13/05/2023 20:14

Elisi · 13/05/2023 19:56

You are in no way being unreasonable, but baby, a gazunder is what the old chamber-pots used to be called, as in'gazunder (goes under) the bed' 😂Gazumping is the term used when dickheads screw your house sale/purchase over. Stick to your guns poppet, this kind of behaviour is an absolute pain in the a*.

Gazumping is when the vendor accepts a higher offer from another buyer after initially agreeing to accept your offer.

Gazundering is when the buyer reduces their offer just before exchange after initially agreeing a higher price with the vendor.

HTH.

Emotionalsupportviper · 13/05/2023 20:20

NetZeroZealot · 13/05/2023 20:14

Gazumping is when the vendor accepts a higher offer from another buyer after initially agreeing to accept your offer.

Gazundering is when the buyer reduces their offer just before exchange after initially agreeing a higher price with the vendor.

HTH.

Show quote history

So be warned, OP - never take advice on your vocabulary - definition or etymological - from grizzled 1940's Film Noir Detectives.

They know bugger all.

Pressthespacebar · 13/05/2023 20:31

Elisi · 13/05/2023 19:56

You are in no way being unreasonable, but baby, a gazunder is what the old chamber-pots used to be called, as in'gazunder (goes under) the bed' 😂Gazumping is the term used when dickheads screw your house sale/purchase over. Stick to your guns poppet, this kind of behaviour is an absolute pain in the a*.

gazunderer is a term for when buyers try to get a lower price at the last minute. Gazumpers are sellers who sell to higher bidders at the last minute.

123wdcd · 13/05/2023 20:35

Mustnotbeleftblank · 13/05/2023 09:38

So there an update, but not where we hoped to be and it's still all up in the air.

Another email was sent explaining position; £x price, exchange today, stop dicking us about, absolutely no more offers or negotiations would be considered. We got another offer of another £3k, so now £15k below agreed price. I think the EA has to give you all the offers? To be fair I think they're as demoralised as us about the whole thing, but it's business isn't it - I get it.

Our solicitor was on standby all day, and I asked how long it would take them to exchange. He has been excellent and cannot believe CF either, and was in touch with buyers solicitor about apportionments or something - I might misquote that because my brain is fried - casually drops in the are you ready for exchange query. No, the buyer has not placed monies on the account and cannot do that until next week.

So we have some more ££ on the table, but still not what we'd asked or agreed and we couldn't have exchanged and completed yesterday because the buyer wasn't ready.

Now the other executor who was of the opinion to take any reasonable offer to get the property sold is absolutely raging, and they want to tell him to foxtrot oscar and put the flat back on the market. I'm letting them calm down and let me know they're sure before I break that to the EA.

I hope you can both tell the awful buyer to Foxtrot Oscar. They have pulled a horrible stunt and sounds like they are causing a lot of stress, particularly if there is grief involved. If you are going to sell below the asking price it may as well be to someone nice.

WiddlinDiddlin · 13/05/2023 20:43

Firm fuck off to them.

EA to put it back on the market asap and make it absolutely clear you do not want to hear about offers from anyone who hasn't actually got the necessary proof of the money.

That should make it clear to your EA that you won't entertain further fuckery, and they should pass this on to potential buyers - they do want to sell it after all so its in their best interests to be clear with buyers!

Northwinds · 13/05/2023 20:46

I would definitely hold firm with the previous agreed price. The other apartment is not the same and sounds like it's worth much less than your apartment. Showhome apartment with all the decor and furniture, and more space. The buyer is trying to take you for a ride and being really underhanded.
It does depend on how quickly you want the sale to go through though. Good luck. There's some really horrible people out there. Just because you can, doesn't mean you should comes to mind (talking about the buyer)

Sillyname63 · 13/05/2023 21:07

I had this on my mother's property my solicitor said to hang firm on the price as they ( the purchaser ) had more to loose than us . The purchase did go through .
stay firm.

PurplePlayhouse · 13/05/2023 21:11

I wouldn't sell to them now on principle.

LadyAddle · 13/05/2023 21:13

Team @Elisi here - gazunder, jordan, chanty - I came on the thread to find out what OP’s chamberpot maintenance man had done wrong!

saraclara · 13/05/2023 21:16

PurplePlayhouse · 13/05/2023 21:11

I wouldn't sell to them now on principle.

Principles can be very expensive. Who knows how long it would take to find another buyer, and how little OP might have to sell for when they find one. Again, this is a retirement flat, and the estate will be losing money constantly as the service charges still ned paying.

HunterHearstHelmsley · 13/05/2023 21:18

Elisi · 13/05/2023 19:56

You are in no way being unreasonable, but baby, a gazunder is what the old chamber-pots used to be called, as in'gazunder (goes under) the bed' 😂Gazumping is the term used when dickheads screw your house sale/purchase over. Stick to your guns poppet, this kind of behaviour is an absolute pain in the a*.

Oh, bless you

To tell gazunderer to do one?
Gemcat1 · 13/05/2023 21:20

If you have people waiting to inherit from the sale of the property then you are legally obliged to obtain the best price possible. Submitting to a gazunderer could open you to being sued. Do not reduce the price and tell the buyer that he is welcome to purchase the smaller property. He may well change his mind and pay the agreed price or he may buy the other one. Either way you have done your best.

LovelyLisa2 · 13/05/2023 21:22

No way should he have yours for the same price. Tell him to go for that one then 😡

Complexneedsmum · 13/05/2023 21:27

Something similar happened to us with a buyer trying to push us to take what a property on our street was asking for. We bought ours within 5 years and spent 50k on substantial much needed work. Other property is exactly th
e same sizes shape etc but no work since built and some external issues, such as cracked walls. Property was put at 20k less than ours.

We said no, go for the other property and you spend 50k doing it up. However, they weren’t happy and came back saying that they preferred ours and after a lot of badgering, they put a lower offer on the other property - which they never got. Eventually came and offered valuation price and we said no we had other interest. I had a bad feeling they would do something like what you described above

personally I would say you’ve changed your mind now and want what you originally agreed. If they don’t like that go for the pokey flat instead