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Original poster

Seller now wants an extra £6000

135 replies

meeeeh · 21/08/2020 23:42

We are about to buy a house and have a baby on the way, now the seller is saying they want an extra £6000 or they'll pull out, what should we do? I feel like walking away but we are getting the house for a good deal

OP posts:
FedUpAtHomeTroels · 22/08/2020 07:30

Don't do it, they are not your friends they are chancers.
They know your situation and are trying to take advantage of it.

ChampagneCommunist · 22/08/2020 07:36

No x £1,000. I am a property lawyer; please don't do it.

It's fraud - you will be underpaying/under declaring the SDLT and committing mortgage fraud.

Tell you lawyer and ask them to raise it with the sellers lawyers.

mysteryfairy · 22/08/2020 07:36

Don’t make it a private agreement...talk to your solicitor about this.

It doesn’t necessarily sound impossible that someone would need some cash to move...deposit, rent, removal fees. If it can be done legitimately as part of the contract and the overall price is agreeable it might not be worth losing the house for.

Callingallbutterflies · 22/08/2020 07:45

Terrible idea. Take your solicitor's advice, there are serious ramifications for you. Another lawyer pp has already mentioned the SDLT declaration and mortgage fraud. The only way that a seller could get their hands on money pre completion is by their solicitor asking yours if they can release the deposit paid on exchange to their client. Very rare in residential transactions though.

OliviaBenson · 22/08/2020 07:47

It's fraud!

Also if you send them £6k by bank transfer they could still pull out and you would have no recourse.

Talk to your solicitor. DO NOT DO THIS!

Marchitectmummy · 22/08/2020 07:47

Nope do not do it, forget what you have been through or that you are having a baby those circumstances just blur your decision making.

If the house is worth 6k more than you are paying, then perhaps negotiate you will pay 3k more via the contract. Not outside it.

If the house is worth what you are paying, then absolutely not.

SearchforSpillo · 22/08/2020 07:51

Yes they will pull out I bet.

Imagine if they are asking 5 people to do this?
Lovely little earner Shock

There is always a better house around the corner.

Don't lose 6K.

Mummyoflittledragon · 22/08/2020 08:02

Very dodgy. As a few people have said, the only way I would do this is to agree to release these funds early after exchange. But if they then pull out of the sale, you’ll be 6 k down plus other expenses.

Mummyoflittledragon · 22/08/2020 08:03

That should say “I would consider. But even then best to walk away.

TwoCupsOfLemonTea · 22/08/2020 08:05

Back in 2007 we lost a house (a new build, out buyer pulled out) after we had paid a deposit (only £500) and had the excitement of choosing the kitchen, bathrooms etc.

I was gutted as I was. We were paying £225k for the house, 2years later it was back on the market for £
185k and sold for 175k

The point of my post? Walk away, things happen for a reason 👍🏻

premiumshoes · 22/08/2020 08:07

They're saying they need it before completion to sort out somewhere else to live,

This is not your responsibility.

I think as we really want the house we will offer it after exchange not before if it comes to it

Don't do it at all. There are other houses. I know it's hard when you do close and want it so bad, but realistically they are in a huge puss take and trying to screw extra money out of you. Don't let anyone do that to you. They are victimising you by preying one your desire to buy a house Angry

pilates · 22/08/2020 08:10

This is wrong in so many ways. Start looking for another property.

devildeepbluesea · 22/08/2020 08:16

Come on! They are playing you like a fiddle and capitalising on how much you want the house. You agreed a price. Don't be pushed around.
They'd no longer be friends of mine either. Wankers.

EnjoyingTheSilence · 22/08/2020 08:16

Walk away, nasty bastards

Techway · 22/08/2020 08:22

How well do you know the sellers? Are they selling due to financial difficulties?

If you are under paying for the house has it been valued ok by the mortgage company? You don't want to be involved in anything dodgy as it could come back to haunt you.

If you know them well then the 6k has to be outside of the house sale and effectively a gift or unsecured loan. Could you afford to lose it?

Mosaic123 · 22/08/2020 08:23

They can ask, you can say no. They've agreed the price. Stick to it.

Notonthestairs · 22/08/2020 08:26

You would be mad to go along with this.
Other posters have pointed out that it's fraud. What if it meant you couldn't get another mortgage? How would that impact your future?

Talk to your solicitor.

bevelino · 22/08/2020 08:31

OP, lawyer here. Do not do this and walk away. You are basically being blackmailed because they know you are desperate to buy their house. Just before exchange of contracts they may demand £10k from you and then what would you do. Find another property.

crankysaurus · 22/08/2020 08:34

I would definitely say no to this, even after exchange, it sounds manipulative and fraudulent.

As mentioned above, on exchange could the deposit could be released? If they genuinely just have cash flows (rather than being grabby) then this should help.

HouchinBawbags · 22/08/2020 08:46

Tell them you don't have an extra £6K. You mortgage is for the value of the house.
Offer to take it out of the sale price to be paid after exchange before completion. That way they can use the money to move but are not upping the AGREED sale price for no reason.

If they won't accept that then keep looking. Seriously, they can't just do that. It's dodgy as hell.

NewHouseNewMe · 22/08/2020 08:49

This is FRAUD and therefore ILLEGAL. Do you want to be party to this? It's irrelevant if it's before or after exchange.

Try calling their bluff: "oh we can't do that as it's fraud, you're hilarious"
If that doesn't work, walk away.

PeppaPigMakesMeGrrrrr · 22/08/2020 08:53

Why are you even asking this?! It's obviously dodgy as and a form of fraud. You should be laughing them all the way out of the door. They'll take the 6 grand and then pull out of the sale.

CallmeAngelina · 22/08/2020 08:56

So, basically, some strangers (even if you do kind of know them) are asking you to just gift you £6K.
This is nothing to do with the house purchase really. Why would you even consider it?

PatchworkElmer · 22/08/2020 08:58

Absolutely not, no way. If it’s a good deal I’d maybe consider adding to the mortgage- possibly. I absolutely wouldn’t transfer either before or after. It’s not your responsibility to house them!

Skyliner001 · 22/08/2020 08:58

Pull out.