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Original poster

Buyers moving goal posts - house refurb req

15 replies

RebeccaStacey · 21/12/2020 07:44

We are in the process of selling my dad's house. He started to renovate it before he passed away but the rest of the house still needs a lot of work.

The house was valuated to factor this in. I got quotes from contractors and took another 10% off for a quick sale - house is sitting empty and it's a 2 hour drive for me to check on it. EA valuations agreed with this.

We had an asking price offer within a week. However, after accepting that we had a cash offer (only 7k below asking).

The buyers are now asking me to pay for damp treatments and replastering of walls, amongst other things (they wont specify the rest of the work or give a value). It's obvious when viewing the house these are needed. House is up for £180k, similar houses on the street (refurbished) sell for £220k

Just been told the buyers only have a 5% mortgage. The agent said this might be why their mortgage company have a retainer on the mortgage offer (I'm assuming this is what they want me to pay). They won't say the retainer value.

This has been going on for months and they keep moving the goal posts. I'm tempted to just put it back up and accept the highest cash offer or should I just suck it up and sell to these (if we figure out what they are asking for!)

OP posts:
toomuchfaster · 21/12/2020 07:47

I would tell them to F off and put it back on the market. You will get a simple purchase, although possibly for less.

midgebabe · 21/12/2020 07:48

Back on the market, is damp etc was easily visible and refurb status made clear in sales particulars
Get a fresh valuation if the market has changed much

ThelmaNotLouise · 21/12/2020 07:48

The cheeky so-and-sos! Tell them the house is sold as seen and the work that needs finishing is reflected in the far lower price and that they've known that all along. If they kick up a fuss, get it back on the market pronto. I reckon it will sell really quickly again at that price so you should just cut your losses with these time wasters.

midgebabe · 21/12/2020 07:48

And sorry about your dad

Oreservoir · 21/12/2020 07:49

I think you need to be proactive via your EA.
This is the price we agreed stick to the deal or I'm putting it back on the market.
You'll soon find out if they are genuinely struggling or taking the whotsit.

Mumbum2011 · 21/12/2020 09:30

Has the bank completed a valuation survey?

PenguinBarnotBird · 21/12/2020 10:22

They are taking the proverbial. Stick it back on the market asap

Original poster
RebeccaStacey · 21/12/2020 10:30

Yes, it was clear from the ad and photos (and price!) that it was a refurb property. They've also seen the house twice.

The EA isn't the best with communicating, she doesn't really answer messages or keep us updated.

The first valuation survey came back fine, this is when they had a 10% deposit. They then said they only had 5% to put down so went with another mortgage provider who did another survey. This new survey has a retainer. They've not said how much the retainer is for but that they want me to pay for the damp course and replastering.

I had a survey on the house before putting it up for sale, this is what helped us value the house and the damp was not flagged as a major issue but it did say if the ground floor was being replastered it would be a good idea to have a damp course done. This was in the quotes and considered.

I'm pretty sure that in a refurb property I shouldn't have to pay for the replastering, etc but wasn't too sure

OP posts:
Loofah01 · 21/12/2020 10:48

Not good buyers and taking the piss. If there is no rush then re-market (maybe a new EA) and as mentioned have it stated 'as seen' or 'with these known issues...' in the particulars. People always try it on when buying a house but at this point they'll lose out most as the stamp duty holiday point will pass them by. Not your problem, get it back to market

justabigdisco · 21/12/2020 14:10

Agree with others. Firmly decline and say if they don’t want it you’ll put it back on the market. The only thing a buyer can negotiate on is unforeseen issues on a survey that NEED sorting (and that other buyers surveys would also show up)

RainingBatsAndFrogs · 21/12/2020 14:19

I would ask if the cash buyers are still interested.
And take no nonsense about reducing the offer from the £7k below asking price - say you will do everything as quickly as possible to complete before the end of March.

Also - unless the house is below the SDLT threshold anyway, your current buyers need to stop messing about and delaying or they will end up paying.

Your EA should be being more pro-active.

Saz12 · 21/12/2020 16:48

Buyers are CF. Sounds like they’ll mess you around more and more.

Sunflowergirl1 · 21/12/2020 16:51

Give them a deadline to complete or put it back on the market

DPotter · 21/12/2020 17:08

You need to give your EA a kick on the backside - tell her you'll be removing your business in the New Year if she doesn't respond to your enquiries and start managing the 'buyers'.

Definitely give the 'buyers' 'the price is what we agreed and that's final' talk and by the mid of Jan to sign contracts. If not drop them, get a different EA and move on with another EA.

Bathroom12345 · 21/12/2020 17:11

I am on the fringes of property. Dump them. They will mess you around and at the last minute request something else.

It sounds like it wont be long before you get another offer.

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