To question AIBU to refuse to renegotiate house sale offer because buyers have been waiting a long time

[madbatarse]

So...we accepted an offer on our house several months ago & accepted a lower offer price on the basis buyers would sell & rent for an extended period while we try to find a property (we have long tick list). They love our house & seem adamant they intend to buy it. Quite a few months down the line we still haven't managed to find anywhere & buyers now want to renegotiate the price down by 10k to cover their (now unexpected) additional rental costs. If we agree they will carry on renting & give us more (unspecified) time to come up with the goods without hassling for a while. They are obviously more motivated to buy than we are to sell, ergo: we still can't find anything suitable & indicators are now showing house prices will probably be on the rise. We are therefore concerned that if we accept a reduced price & house prices then rise we will end up with a shortfall when looking to buy & will be priced out.

AIBU in saying 'go away' - you are being cheeky & we aren't paying your rent; either stay with the deal if you're that desperate or walk? Or do you think they've been exceptionally patient, we should bite their hands off & go live in a tent?!

[[If mods want to move this to property that's fine - just thought would get more visibility here lol].

Is this a reverse?

They have been exceptionally patient. It's a shame that for whatever reason, a landlord wouldn't want to rent to you - that's the only reason I can see why you'd need to resort to a tent.

Was the 'extended period' of time specified? If you agreed 3 months between you but now you're moving the goalposts that's unfair - its not their fault your tick list is so long.

Either renegotiate or you'll have to pull out and find another buyer

How long did it take you to sell? How many viewings and offers did you have? Would you be happy to stay put if you can’t find another buyer?

Potentially you could say you’re unable to drop the price (without being rude about it) and wait to go back on the market until you’ve found something you think you want to buy.

Is it feasible to sell and go into rented? I know people always suggest this when often it’s not practical (including due to ERCs) but if you can…

They are obviously more motivated to buy than we are to sell, ergo: we still can't find anything suitable

So, suppose your buyers find something suitable that's just as good as your house but the vendors are proceedable, ie the vendors will progress the sale and not keep the buyers dangling for months on end because they haven't found something good enough? They'll pull out and you'll be left with no sale and have to go through all the marketing again.

Why aren't you prepared to rent for goodness knows how long until you find a house you'll buy? Why do the buyers have to shoulder the financial burden of you not finding something? I don't think they're the cheeky ones here. How would you like it?!

People are mad - wtf did you put your house on the market if you weren’t motivated to sell?

Vendors like you cause havoc with buyers - it’s not fair.

Surely a reverse?

If your house isn't ready to sell then don't put it on the market. I hate when sellers do this.

I think you are the cheeky one . Why on earth have you accepted an offer if you are not ready . Jeez

We rented in your situation, in order to accommodate our buyers. In comparison I think a 10K discount seems quite reasonable

In their shoes I wouldn't have offered on a house with vendors who hadn't found anywhere and weren't moving until they'd sold. I can see why you don't want to reduce the price for their rent but at the same time they've been incredibly patient in circumstances where there's no obvious endpoint for them. It's your call but I would proceed on the basis that they'll walk if you refuse to reduce the price.

It is not a sellers market. Prices will remain stagnant. Look at Rightmove if you don’t believe me. Lord and lots of reduced properties. I negotiated £10k off a £90k buy to let this month. That is how desperate some sellers are to offload property.

I hate sellers like you. You need to focus and be quick about it. Your buyers have been more than patient. Why should they shell out thousands in rent while you dilly dally about looking for something you can’t afford. Trust me if you can’t meet your check list with what is currently available then you can’t afford it as the market is fruitful.

I think if you are the fussy ones with a lengthy tick list and know you are going to take ages then you need to expect to move into rental, not your buyers. Or you need to find what you want to buy first and then take a chance on being able to sell yours extremely quickly.

If I was your buyers I’d be wanting a reduction, and I’d also be looking around for something else. But I guess if you have something unique that they really want then you may feel you’re in a strong negotiating position. I think your behaviour is unreasonable though.

My poor friend is in this situation she's waiting around whilst the sellers are pissing about as she won't move out the house. She said she will pull out if she doesn't make an attempt to move within the next month. Your taking advantage. You will lose the sale.

If you've not found a house then why would you be pressured into rented? You're in no hurry.

Especially if you think prices may rise.

You were honest with them.

That’s awful.

Of you, not them.

I had a similar situation. I really needed to move to get away from EA ex and was chain free.

I actually offered them a bit more than I thought I should have for a quick move. They knew the offer was for a quick sale.

They fucked around for months with some sort of “long tick list” like yours.

OP, it really sounds like you’ve well extended the grace period here. Time to rent if you have a wish list so long that it’s taking an unreasonable amount of time, which it sounds as if it is.

You're well within your rights to take as long as you want to find the right house for you.

I think your buyers were completely mad to sell their house and rent though, what possessed them to do that? That's not your responsibility at all.

Surely you know in your heart that you've been unreasonable towards your buyers?

Having said that, I get why you don't want to agree to a further reduction. The most sensible outcome is that you refuse and they pull out of the purchase.

Whether you'll get another buyer willing to a) pay what you want and b) be as patient as these have is another matter.

We sold to our eager buyers and are living in my sister's sitting room while we look. It's not fair to keep your buyers waiting; if I were them, I'd be looking elsewhere.

YABU.

And honestly if I was them I’d be starting to look at other properties if you didn’t agree to this. You asked for time, they gave you it, you’re STILL not ready. It’s time to get it done or give up.

Your buyers are total mugs and if they continue to let you mug them off, well more fool them!

You do you.

Oh god I had vendors like you. Pissed about for months and then withdrew 2 days before exchange as they 'weren't sure' about their purchase.

Be honest with them that you're not ready to sell and set them free

You were very very lucky to get buyers who were prepared to wait. Why should they have to wait longer and suffer financially when you're taking your sweet time?

Time to piss or get off the pot.

You should be looking to move into rented accommodation if you want to keep your buyers. You're the ones holding everything up by being "picky" with your long tick list.

I think you should rent, not the buyers. You are taking the pi** and if you know it's gonna take a while longer, just rent and buy when you found something. i cannot believe you are even asking.