Renegotiating before exchanging

[newclub]

Our buyer has tried to negotiate a substantial amount off the price based on factors they were aware of at the start. So in other words, nothing solid just trying their luck.

They expressed to the agent they are aware that we have more to lose because we benefit from the stamp duty holiday and they don't.

I know its "business" not personal, but i really took offence to that.

I have gone above and beyond for them, accommodating their hundreds of requests and they do this at the last minute. Its really angered me.

Ive told them to basically shove it, and they either want it or they don't.

What would you have done?

Shove it or renegotiate a lower amount?

I would do as you have done! If they knew about those issues at the start then that’s what it was worth to them when they offered.
The only time I would renegotiate is if a building survey showed significant issues.
Stick to your guns!

I've done the same. Our first house we had that, thankfully we were in Scotland so if they wanted to pull out it would have cost them. They still bought it. They were CF though as it was offers over but we accepted their first offer at the ask over price. The husband went through the house saying how much he hated laminate and would need to rip it up. However, we had to move quickly so we just accepted. So I was certainly not going to accept any less.

Our buyers did this to us after messing us around for months. They then demanded a further 25k off the price just as we were about to exchange.

We told them to piss off.

They then said they would honour the price originally agreed, and the man acted as though WE were the ones being unreasonable.

I thought it was an appalling way to behave, and a really shitty thing to do.

Obviously we didn't leave a welcome card or a bottle of wine, and I was sorely temped to put prawns under the floorboards.

I would have done the same.

Hmm it hurts , I'm presuming you are buying another property hence the stamp duty but they are buying to let or second property and having to pay duty anyway ?
I think it depends on your personal circumstances, how much you want to move ? How long you were up for sale ? How much the legal fees etc to date have already cost you ? How much stamp you are saving vs how much they are trying to negotiate off the price ? If you want to a) move b) less than the negotiating price difference in stamp , I would suck it up and proceed
But if the difference is huge and you are not that invested re -market your property but consider that a new purchaser may knock you down by as much anyway
I hope it works out ok for you

I would have done precisely what you've done. If you've priced the properly appropriately and any issues they're talking about are evident, attempting to renegotiate at the last minute is, to use a technical term, a dick move. Obviously, if something unexpected comes up on a survey and changes things then it's reasonable to renegotiate (in good time, not at the last minute). But I tend to be pretty scorched earth when it comes to this kind of thing, and anyone assuming I'm going to blink first word be in for a surprise.

Tell them to shove it. we had this exact issue a few years ago (sans the stamp duty issue). they said they realised they didn't have the money. We told them to shove it. they agreed to exchange at original agreed price. less than a month later there was scaffolding up and they did a huge extension so clearly did have the money

You’ve done the right thing. I’d rather pay stamp duty and sell to decent people than be held to ransom by difficult buyers.

It may be ‘business’ but have their requests delayed your sale? Have they purposefully delayed things to get you to the position of potentially missing out on the stamp duty holiday.

Hope everything works out for you!

Yup, I'd have told them to shove it too. Money brings out the worse in people !

@Cherryberrypies yes absolutely have been stalling for this reason which deep down i was waiting for but hoped they were decent people.

I love that angle of rather selling to the right person, i almost dont want them to have it now! But i obviously wouldnt self sabotage our purchase.

@Bells3032 the absolute cheek to then do an extension!

@newclub we had originally planned to have cleaners in the day before completion but decided to cancel them. We didn't leave debris or anything but also didn't clear up the 30 years of dust that had built up everywhere so it was filthy when we took all the furniture away. It was our little act of revenge

You are exactly right playing hard ball and not capitulating to their tactics. Hold firm and wait to see what happens some buyers really like to scare vendors to accept silly alterations last minute.
Personally I'd rather sell for less to a buyer who is honest that to a player who just leaves you feeling annoyed after the sale.
Your agent should work on your behalf to set the record straight that these changes are putting the sale at risk.

I'd have told them to shove it too!

Seriously you are now going to pay stamp duty out of petulance?! Okay that is going to be an expensive flounce.

@Bells3032 Hahahaha i said this to dp last night, i have plans to get the windows cleaned and have it thoroughly cleaned inside etc was also going to leave a bottle of champagne as they are FTB's - Not now!

@DarcyJack its the same as what they are asking off

Someone tried this with us. We told them to F off

We've been dealing with similar from our buyer the last week or so, they have been increasingly difficult over the pettiest things.

We've refused to reduce and are following Bells3032's example of small but satisfying acts of revenge... that spare loo roll? Ha, not leaving one now. That awkward light fitting that I was going to clean? Nope, they can have the joy of emptying dead flies out!

@MotherofHeathens Hahahaha i love this

It's true though, we have these lovely intentions and they ruin it.

Why do these people think we can just afford to suddenly drop by thousands!

Find a loose floorboard and leave some fish under!

I hear it happens a lot, especially at the moment, and I'm so bloody minded that I'd definitely also tell them to shove it.

Let us know what they come back with please!

We've just bought our first house. No estate agents involved as buying house from family friend. We offered slightly less than sellers wanted as it's what we could afford but we were chain free - they accepted for faster sale and because they could afford to as they know us.
About a week before exchange a few friends told me now was the time to drop our offer! We wouldn't do that as price was more than fair but honestly, we were told by so many people that we should try it / you never know / they need the sale etc.

It's a horrible process, I'm glad you told them to shove it!

You've done the right thing!

Have your buyers responded yet?

@Loofah01 Haha oh wow i dont think i have the balls for that!

I will keep you updated. Im so curious how they are going to play it

@gorillasinthemist nothing yet. I think its the slow agent though