buyer asking for a price reduction right before exchange, panic or is this just the norm these days?!

[nipersvest]

mil is selling, has been a drawn out process already despite such a short chain, buyer is now asking for a 5k reduction. am i right in thinking this is something which happens a lot these days, buyers trying it on at the last minute?

Asking for a reduction on what basis? Just because they want it?

From what I've heard it is. Personally I would call their bluff but I have nerves of steel.

I would reply that you (MIL) are putting the house back on the market given they are no longer interested.

But yes, I think it's common.

this is called 'trying it on'. Give in to this and they will want more.

tell them to take it or leave it. If there was a survey issue it would have come up earlier.

There is a special place in hell reserved for people that do this. Your mil should tell them to get stuffed.

Mine tried that - I said no. They'd already committed money to the purchase, solicitors, searches, inspections, etc. I also swapped anything decent that I had to leave for older stuff. Bastards paid for trying to screw me over.

Just the one word answer will do. That very short word beginning with 'N.'

It's difficult but try and detach yourself from the emotional side of this and assess it dispassionately.

So, if you've sold after 4 weeks on the market, had to cancel a string of viewers etc then I'd call their bluff. If you've been trying to sell for 3 years, are desperate to move and this is your first decent offer then I'd think long and hard.

Buyers hold the whip at this time. If you really like the house then cave to a buyers market.
By the time you get another buyer you may lose that anyway the way things are. Gazumping in reverse , I love it. But do sympathize

Nobody has bought anything until exchange , although this is a bit like rubbing a doughnut on your nose and then saying "nah changed my mind unless I can have a discount"

I would say no. They have invested money in your house, depending on costs they are probably £1,000 down already if they walk away.

Do you know any details about the chain? Where does your MIL fit (i.e. if she loses the sale, will she lose the house she wants to buy?). Similarly where do the buyer's fit? If your MIL refuses to reduce, and they pull out, will they lose a sale on their property?

I am firmly in the emotional camp when it comes to being messed about despite thinking that RCheshire's advice makes sense. I would be tempted to tell your MIL to tell them to stick their reduction. I'd then be tempted to make absolutely no effort on moving day - wouldn't leave instructions for boiler / central heating / appliances and would take everything I could. But then I'm not good with people who have no integrity.

You left out leave a few kippers under the carpets.

I thought it was in the pipes so every time they put the heating on the smell would intensify ??

Gosh that verges on malicious ,I prefer them permeating into the floorboards it's a long term solution. It also keeps people in work selling carpets and the floor sanders too.

It was in a romcom - can't remember which one now - spurned lover did it to cheating husband / boyfriend when she left him. I think pipes or floorboards would have the desired effect!

kippers go in the curtain linings. Some judicious bulb planting can also spell out a suitable message in the spring.

fortunately never had to do it!

It's easier to put them in the curtain poles.. take the ends off and pop them in. It's neigh on impossible to pinpoint them then.

My solicitor suggested I actually did try to get money off at the final hour! I just can't bring myself to do it though, karma n that.

I think it's a shitty tactic. Happened to a friend of DP's recently, prospective buyer decided at the last hour they wanted more money off because of something on the survey - which they should have flagged up at the time, not that late in the day. Seller refused to drop the price, chain collapsed. Waste of time and money for everyone else.

Your solicitor ? Wow !

What a weasel

I'm in agreement with what RC said. But I also have nerves of steel and would call their bluff if necessary

Where are you?? In some parts of country saying no and advising you'd actually like more would work... Back at own game...

Yes our solicitor, she said she got 5k off hers doing that.

thanks, am still pretty sure the buyers are pulling a fast one! still no movement, only a short chain, the buyers, mil and then mil is buying a new home. its based on damp concerns that came up on the survey, but they've known this since the middle of august, and yet leave it till right before exchange to bring it up.