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Original poster

Gazundering...told my buyer to piss off

138 replies

ilovewinterpansies · 06/04/2018 18:32

My buyer has at the last minute asked for £5k off my house which is already being sold at a bargain.

We have told him to piss off (obviously the estate agent has put this in more polite terms).

Mortgage offer is in, survey done (and apparently says our house is in good order so I'm not sure why he wants £5k off) and enquiries are almost all done. We are on the cusp of exchange.

How much is this just the buyer chancing his luck? Shared experiences will be very welcome!

OP posts:
MrsPatmore · 07/04/2018 07:17

He is a cf but I'd swallow my pride and agree to meet half way just to exchange.2.5K lost on a £700K + property isn't a lot in the grand scheme of things and the market is slowing.

Original poster
ilovewinterpansies · 07/04/2018 07:28

@MrsPatmore I know, I'm trying to be unemotional about it but this guy has really hacked me off so it's a point of principle now. But I know you're right!!! Let's see what he comes back with.

OP posts:
mmzz · 07/04/2018 07:33

Some people just aren't happy unless they think they've got the lowest possible price. They may be getting a bargain but they'll be uneasy in themselves unless they think they have found your bottom price. Maybe you've given in too easily previously.
Now you've refused, the buyer knows your floor price, he now can either pay up or go away and start again on another property.

My bet is he'll come back, having dropped the 5k demand. However, be aware that he's likely to be extremely petty about everything, so take care to keep to your side if the bargain (e.g. be out in time, don't offer guarantees on the damp work, be pernickity about what you are leaving and don't leave any rubbish).
If he doesn't come back, then he either cannot afford the house or he is looking for a bigger discount on a fair price than most people are willing to give.

BrassicaBabe · 07/04/2018 07:40

Emotional blackmail! He is a git! Stick to your guns! Hope it's resolved soon for you;moving house is very stressful Thanks

gamerwidow · 07/04/2018 07:41

This would piss me off to buy you need to try to take feelings out of it and work out if the inconvenience of them pulling out is worth £5k.
The laws around buying property need a bloody good shake up. Gazumping and gazundering shouldn't be legal.

Nanna50 · 07/04/2018 07:49

Vegas has probably put him in the gambling mood or he's trying to make up the money he just lost in the casinos. 5k is .007% of your price so it's still affordable if you can't wait and want the sale. Doesn't make it less infuriating though.

Qwertytypewriter · 07/04/2018 07:59

5k is .007% of your price so it's still affordable if you can't wait and want the sale.
Er, no, its 0.7%, which is still quite a small proportion, but £5k is quite a lot in any context other than a house price!

Scrumptiousbears · 07/04/2018 08:17

Out of principle I'd tell him to fuck off and put it straight back on the market for higher. I'm not attached to your property. Cheeky cheeky fucker.

Original poster
ilovewinterpansies · 07/04/2018 08:20

I know that £5k in the context of the house price isn't much but like PPs have said it's still a lot of money. Plus we agreed much lower than we had wanted in the first place because we were desperate to become proceedable to buy the onward purchase. This is probably why he's playing this game now.

I feel like that Leonardo DeCaprio meme where's he's throwing money everywhere - that's what moving house is like isn't it?! And to be asked for another £5k at the last minute....areghhhh!! It really should be illegal.

OP posts:
Original poster
ilovewinterpansies · 07/04/2018 08:21

@Scrumptiousbears I am seriously bloody tempted.

I HATE that I am selling our much loved family home to this c u next Tuesday.

OP posts:
Nanna50 · 07/04/2018 08:24

@Qwertytypewriter
5k is .007% of your price so it's still affordable if you can't wait and want the sale.
Er, no, its 0.7%, which is still quite a small proportion, but £5k is quite a lot in any context other than a house price!

Blush sorry it's that decimal point and I use percentages in work on a regular basis Shock

SavoyCabbage · 07/04/2018 08:25

Say no and put it back on the market this morning. Then keep busy today. Henot going to pull out now.

gussyfinknottle · 07/04/2018 08:27

I had this. I buckled. I regretted it. And lost money.

frasier · 07/04/2018 08:36

Is the house you are buying the only one for you? Think about what you want, not was he’s getting. What would it really mean to you if he dropped out now.

He’s in Vegas being a big shot. Perhaps he just lost money and thought you’d cover his gambling debts or made money and feels like a winner. I think he’ll see sense when he gets back.

HellonHeels · 07/04/2018 08:42

I'd get it back on the market today.

Clutterbugsmum · 07/04/2018 08:48

We had this when we moved.

The house we were buying the seller wanted to move ASAP so we had everything done between 20/12 and 30/01 and then we it came to arranging completion/moving date she suddenly wanted extra time. So I told the estate agent we would be moving on her stated first date or she could put the house back on the market. She had wanted a quick move so that what was happening.

We had already agreed to pay an additional £6k because she accepted our offer then declined our offer to accept someone else's but because my dh wanted this house he agreed to match it. But we didn't pass it on to our buyers as they were FTB and at the top of they could afford, at about £4k under out asking price.

Chilliandbanana · 07/04/2018 08:52

I would call his bluff and put it back on the market today

mmzz · 07/04/2018 09:49

You need to make the estate agent believe that you would sooner pull out of the sale than discount further.
If you are telling the EA that you are desperate for this sale to happen, the EA - who has nearly earned the right to bill their fee - will side with the buyer. EA's always lean on the side that is most likely to cave first because all they want is their fee. +/- 0.7% is neither here nor there to them when 100% of the fee is at stake.

mmzz · 07/04/2018 09:50

I'd ask the EA if they can line up any buyers today? Say you'll happily do the viewings for them. That will make the EA think you are serious and therefore pressure the buyer to cave in.

MrsTylerJoseph · 07/04/2018 09:53

I had my whole house reroofed for 3k not that long ago. Can’t imagine 5k is needed for a few slipped tiles.

Nanna50 · 07/04/2018 10:06

TylerJoseph makes a good point, my roof cost around 6k last year, it's a big roof and was stripped right back so was a good price but have you had a quote on what your roof would cost (if it needed re doing) for comparison?

Original poster
ilovewinterpansies · 07/04/2018 10:09

@Nanna50 no - this all happened yesterday and frankly I think he's just chancing it. The £5k is out of nowhere, he's only had a first survey done....no quotes on roof repairs etc.

He threw his weight around in the beginning of the transaction so this doesn't surprise me. Almost didn't proceed as I knew he'd be a nightmare of a buyer.

OP posts:
Nanna50 · 07/04/2018 10:39

I think he's got the Vegas bug and hopefully you saying no will bring him to his senses.

GardenGeek · 07/04/2018 10:45

This reply has been deleted

Message withdrawn at poster's request.

johnd2 · 07/04/2018 10:47

Mmzz "EA's always lean on the side that is most likely to cave first because all they want is their fee."
Actually they always lean on both sides, all they want is completion"

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