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Original poster

Buyers messing us around

10 replies

leo1978 · 01/10/2007 12:07

Hi there

About 6 weeks ago we accepted an offer on our place, £15 000 below the asking price. We were chasing our EA all week last week and he wasn't returning our calls etc.

Called him this morning - he has just spoken to the buyers aunt (!) who has said that given the current market, our buyers want to drop us £20 000! The survey has revealed some damp and roofing issues which they say amount to £3000 of work.

I am so furious. DP and I have quite our jobs as we are relocating. Are we totally fucked?

x

OP posts:
Freckle · 01/10/2007 12:10

Tell them to get stuffed. Remarket the property immediately with another agent who will return your calls.

lalalonglegs · 01/10/2007 12:31

The market is, ahem, softening at the moment so it might be worth getting another agent to revalue your property - always ask for a "realistic selling price" not what they would like to slap on the particulars - and see if it is any more or less than the new offer. £20k sounds a bit much for work that costs only £3k (also ask to see their survey to make sure the work is necessary). If they have had a survey done reasonably quickly then it does sound as if they are committed but are trying their luck - there is probably room for negotiation.

The problem with selling your house is you always end up hating the people you sell to. Think of all the things about your house that irritate the hell out of you (the banging radiator/the way the back rooms don't get any light during winter/the fact that the hot water conks out half way through running the bath or whatever) that they can't possibly know about and revel in the fact that they are in for some unpleasant shocks.

Estate agents are crap at keeping in touch - let them know that you are considering going elsewhere. You could also tell the estate agent if you do stay with current buyers that, given the drop in price, you feel that they should drop their commission rate - always worth a try.

If you've quit your jobs then you don't have time on your side. Houses are much harder to sell when they are empty and unfurnished. Take a deep breath and try to be unsentimental about the whole procedure. It is a business and you always have to deal with idiots in any business.

lalalonglegs · 01/10/2007 12:38

By the way, you can hedge your bets by getting agent to show round other people while you decide to go with/throw out this offer. If you wanted to be really sneaky, you could get an agent from another firm to do this but a bit dodgy as your buyers may be registered with them as well and wonder why they are being sent details of the house they have put offer on...

LittleMinx · 01/10/2007 12:45

Leo.... so sorry to hear that, i would get it valued with a couple of other agents. Could you afford to relocate and maybe rent a small place until you sell yours? 20k seems a big drop how much was your property in first place if you dont mind me asking? only reason i ask is because if say its up for 200k, then 20k is a massive drop. if however its up for say 700k its not a massive drop, if that makes sense?

freckle.......totally agree!!

lalalonglegs.... we arent all crap at keeping in touch I work late if necessary to make sure i have got back to everyone that i promised to get back to that day. I have to say i disagree with your statement that it is harder to sell empty unfurnished houses. We sell those a hell of a lot easier than anything else as there is no chain and people know they arent relying on an upper chain which could fall apart.
I do however agree with you regarding the annoying things in your house .... in our flat the water pressure was so bad it took 90 mins to run a bath ... our buyers were total pain in the arses, and it gave me great pleasure when i moved out picturing their faces when they went to run their first bath

lalalonglegs · 01/10/2007 12:58

Sorry LittleMinx, of course there are good and bad EAs out there. I have spent the past 11 years dealing with them through work and, on the whole, they tend to be unreliable about returning calls etc especially when they have bad news - Leo's EA has probably had suspicions about buyers for a little while.

I should have said that I think it is harder to sell an empty house for a good price than one where the family are still there but keen to move. I think an empty house sends out some dubious signals to buyers - I would definitely put in a low offer if I knew that the owners had already moved out and the house was costing them a lot of money each month in mortgage payments/council tax/water rates etc.

Good luck - remember that there will probably be room for negotiation in whatever area you are moving to so try not to feel you have been f*ed over. encouraging

LittleMinx · 01/10/2007 13:07

Lalalonglegs....... thats ok, estate agents generally do have a bad reputation, that it can be frustrating when you do a good job because as soon as you say you are an estate agent people have made their mind up already

I do agree with that statement regarding the empty house....... people will put a lower offer in because they will know the owners are desperate to get rid of it if they have moved out already.

I also agree bout the bad news thing... have to say i HATE having to ring people with bad news but unfortunately i do have to do it sometimes

I also agree there are a lot of bad estate agents out there, i found that out when i sold my flat last year .... The agent i now work for are the agent sold me my house as they are very good and i didnt want to work for a shit one with a bad reputation or who were cocky and up their own arses ... also, as my husband pointed out, i had rows with several estate agents in the area i now work, when buying here last year, so there werent many i could actually work for after that

Original poster
leo1978 · 01/10/2007 15:36

Thanks Guys

Have told them to stick their new 'offer' up their arses and flat now back on market.

This means, sadly, I am to return to the job I left (dramatically and with tears and a speech) as a supply teacher and dh will look after small boy. Which could be worse I guess.

Relocation on hold for now. I feel I want to go and live in the outer hebrides.

x

OP posts:
LittleMinx · 01/10/2007 20:40

well done for telling them to stuff it leo..... good luck in selling it to someone who doesnt take the piss

Freckle · 01/10/2007 22:20

I'd also be tempted, if they come back with their original offer, to say that the price has gone up by £15,000 .

LittleMinx · 01/10/2007 22:52

same here feckle

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