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Original poster

fuck and bollox been gazundered

664 replies

plim · 15/08/2012 21:46

need some advice please, been gazundered two days before exchange by ftbuyers. They dropped their offer by 17k this morning stating the reason that it's going to cost them more than they thought to convert the office, outhouse and to do some remedial work like damp course, electrics and repointing.

The house is an absolute bargain already as we dropped the price by 40k to get a quick sale so we can get the house we want in time for my two children to start schools in september. We previously had tenants in there and they have now left, we have given notice on our tenancy for where we are living and are due to move in two weeks (completion date).

I immediately told the ea to stick it straight on the market and there has already been 3 viewings tonight, meanwhile, ea are trying to salvage the buyers offer by pointing out that there is electrical and damp certificates and a new damp course that was installed three months ago.

I am so, so devastated, don't know where we are going to live and god knows what to do about the kids school!!

fuckity fuck fuck

rant over! :(

OP posts:
MrsJREwing · 16/08/2012 20:25

I would now definatly tell them to take a hike, do not sell to them please.

fivegomadindorset · 16/08/2012 20:28

Tell buyers to fuck off and hope single bloke buys. Out of interest, is there a waiting list for your sons school? If not I am sure they would be happy with your explanation. Is it far from where you are now?

Original poster
plim · 16/08/2012 20:44

Yes there is a waiting list we had to appeal to get him in, it's 22 miles away from where we are renting. He did have a place at the school here but it is also oversubscribed so not sure they will give him an offer back.

OP posts:
Phacelia · 16/08/2012 20:58

Gosh I feel for you so much. Terrible. Fingers crossed this guy puts in a great offer and you can tell the couple to take a hike.

fivegomadindorset · 16/08/2012 21:01

It might be worth putting a thread on primary education and put a call out for the experts (admissions, ph4?) and seeing what they suggest, I think, but may be hugely wrong, that you can defer your place entry until the term after they turn 5.

thisisyesterday · 16/08/2012 21:08

fucking hell!

why do people do things like this? it makes me sad that there are such nasty people in the world, ready to do unkind things just to benefit themselves. it really does :(

Plim, I hope it all works out for you.
my answer to the "need some space" would be "no way. it's back on the market. if they want it they pay the agreed price"

thisisyesterday · 16/08/2012 21:09

would you be able to rent somewhere cheap near the school for a month or so?

Dillydollydaydream · 16/08/2012 21:15

Christ. Nob jockeys. Hope you get an offer so you can tell your 'buyers' to take a hike. Good luck.

mellowcat · 16/08/2012 21:20

Really feel for you, this is disgusting behaviour. I had it the other way around.

Bloke bought his elderly mother's local authority property shortly before she died and then put it on the market as soon as she passed away. The day before we were due to exchange, he said he had another offer and wanted an extra £15,000. I couldn't afford it and so walked away, only to have his solicitor offering the property to me again at the original price a few weeks later when the new buyer backed out.

I bought the property and the icing on the cake was that it tripled in value in the next three years. It didn't really help me that much because the next house I bought cost 3 times as much too, but mean as it is, it is still satisfying that despite his greediness, he must be kicking himself for not hanging onto it for longer.

I really hope it works out for you and believe that karma will come back and bite these people on the bum!

Original poster
plim · 16/08/2012 21:20

I had a look today and rental property near the house we want to buy. There is t anything at the moment but will keep an eye on it. Only other th g I thought today would be to remortgage the house for the deposit we need and get tenants back in as a rental again, tenants only moved out last week and it's a really popular rental - never been empty as it's Surrey commuter territory. Just a thought, don't know what bank woul say.

OP posts:
narmada · 16/08/2012 21:44

That sounds like a plan.

I know it is really ignoble byte I really want these twunts to suffer for their greed. Poor child being born to such morally decrepit parents...

MrsJREwing · 16/08/2012 21:59

They are probably the sort who think they are somehow the victims of the situation, with the wanting space comment ffs.

Devora · 16/08/2012 22:55

Oh, this is terrible. Some people have no shame.

Out of interest, has anybody met a gazunderer who was proud of their actions? I'm wondering if there's some people who are completely brass-necked, who consider it a clever and morally justifiable way to behave. Though, as I've never met any, I'm inclined to agree with MrsJREwing and think that these are usually people with a massive sense of entitlement and no sense of responsibility.

Toughasoldboots · 16/08/2012 23:12

This reply has been deleted

Message withdrawn at poster's request.

Original poster
plim · 16/08/2012 23:13

Wankers

OP posts:
CointreauVersial · 16/08/2012 23:34

I have a positive tale to tell! This happened to a friend of mine a couple of years ago. She was gazundered just like you, put the house back on the market and almost immediately had a higher offer, so told the original buyers to sod off.

Next day, she had a call from the gazundering husband. He was very sheepish; apparently his wife had absolutely hit the roof. She was furious that he had lost the house by trying to pull a fast one, and he wanted to reinstate the original offer.

My friend explained that there was now a higher offer on the table, and told the guy in no uncertain terms what she thought of his behaviour. The next day, he came back with an offer a massive £10k over the rival offer. He said it was cheaper than paying for a divorce. They were good as gold after that, and the sale went through with no further problems. Grin

It doesn't always have a nice ending like that, but hold onto that thought.

delphic · 16/08/2012 23:39

Just to add a note of mature sobriety here: Your house is not sold until contracts are exchanged. All that goes before that are negotiations before contract, and either party may pull out. You should know that, and indeed are talking about pulling out yourself, so it goes both ways. The actual price is agreed only when the sale is agreed and contracts exchanged.

No-one on this thread can judge whether you are asking a reasonable price, or alternatively, whether your prospective buyer's valuation is the reasonable one. The fact that you say you have dropped £40k makes no difference if your original asking price was wildly unreasonable, as most are nowadays

Hot-headedly rejecting an offer out of pique is no more reasonable than cynical gazumping/gazundering. You are making one of the biggest financial transactions of your life and you need to deal with the matter calmly and maturely.

Are you asking too much for your house? Your house is only worth what someone will pay for it and that is currently £17k less than you expected. In the current buyer's market you need to consider your options like an adult.

Good luck. I'm not taking sides on this.

Ponders · 16/08/2012 23:48

No-one on this thread can judge whether you are asking a reasonable price, or alternatively, whether your prospective buyer's valuation is the reasonable one

it might have been "reasonable" if offered at the start, but not 2 days before exchanging Hmm

CointreauVersial · 16/08/2012 23:49

Delphic - you are indeed mature and possibly also sober Wink but I'm sure the OP feels that, two days before exchange, the "negotiation" was long-since over and done with.

But you are 100% right that a house is only worth what someone will pay for it, and people forget that.

Original poster
plim · 16/08/2012 23:54

well i hear what you're saying and who knows ithis market but we believe it's the right price, next door sold for 90k more than we are asking three months ago, zoopla values it at 60k more than we are asking, the three ea who valued it three months ago valued it at 40k over than it is on for now. within three days of it being on the Market it sold with 4 offers on the table. There is nothing else in the area within 30k of our price. Within one day of it being back on the Market we have a lot of interest. So, with my "mature and calm head on" Wink for a minute, yes, I am pretty confident that we have it right.

To offer a price for a house 6 weeks ago and then renege On it in the eleventh hour for no justifiable reason is morally underhand and blatantly trying to bag a deal. We are only potentially having to pull out of our purchase because we have absolutely no choice due to our buyers behaviour.

OP posts:
Original poster
plim · 16/08/2012 23:55

Oh and I'm also sober, bf 9 month old. Lol.

OP posts:
Devora · 17/08/2012 00:06

delphic, legally you may be right, ethically you are so very wrong.

Northernlurker · 17/08/2012 00:27

They are trying it on and it's going to come back at them when they have no home for their new baby. Greedy fools. Good luck OP!

Zhaghzhagh · 17/08/2012 03:41

OP if you had 4 offers on the table after 3 days of being on the market you really shouldn't be stressing so much (although tbh that does sound a bit far fetched)

tedglenn · 17/08/2012 06:45

Consider holiday lets in your new area, as somewhere to stay for the month or so to get the house sold again. We looked into that earlier this week when we thought we would have to go back on the market (as we had a new school to start too). Everything dies down in September so we found a couple of places that would let us rent out their properties - cost more than a long-term let but they offered us a big discount on their usual weekly let.