To ask for a price reduction from seller

[Blawhca]

As many of you know stamp duty is going up from 1 April.

We were hoping to exchange before this date, otherwise we'd pay an additional £5k. However, we won't complete on time because the seller's solicitor hasn't completed all of the paperwork.

My solicitor said I should ask for a price reduction, as we did everything on time and the fault likes with the seller's solicitor. I would ask them to meet me half way to pay the stamp duty and reduce the price by £2.5k.

Should I ask?

Yes!

Yes

Yes, I would.

It’s their solicitor who is at fault though, not the seller.

Which means it’s the sellers fault. That’s how it works.

I'd ask for all of the stamp duty, and then settle with 50%

They would feel like they're not folding under pressure.

What do you plan to do if they refuse?

YANBU to ask, but be prepared for a NO.

We sold 4 weeks ago and assumed our buyer would be very aware that even though there’s no chain, there was no way we were going to complete before the deadline. We got a call the other day and they asked us for a reduction to pay their stamp duty.

If we weren’t so desperate to sell, it would’ve been a very easy no. They’d have been in the same situation if they pulled out and they could hardly point blame at anyone working slowly. We got their solicitor’s enquiries after three weeks, we responded the next day and then we get the request.

I wish we could’ve told them to poke it but needs must. In your situation I’d ask, but be prepared for a no. What will you do realistically if they refuse?

As above you can ask ,
but as seller I would probably call your bluff & refuse .

Not necessarily, if you, as the seller, have been proactive in pushing for exchange. If the solicitors haven’t done what they’re paid for, that’s their fault. The Property section is full of people trying to get their transactions over the line, being thwarted by EAs and solicitors.

As a gesture, I might go halves. It depends how motivated people are to get their transactions sale and purchase through.

Nothing - i wouldnt walk away - i would continue with the purchase.

I guess i don't have any leverage. - so it will be as a gesture - i am assuming they'd say no

No harm in asking but having just moved house which took five months I would say can the seller be held responsible for the solicitor’s incompetence?

The solicitor that we used and who was actually recommend to us by the EA was absolutely useless. That’s down to the solicitor, not me