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Original poster

Gazundered day before exchange

823 replies

BenjiCat · 26/08/2021 20:48

We were all on track to be exchanging this week with completion on for the end of next week. We were waiting on our buyer's searches etc for some time and they finally came through earlier this week.

Call this morning from the estate agent. Buyer has dropped their offer by £15k due to 'immediate issues flagged in the survey' with no details about what these are, no copy of the report and no estimations on how that figure has been calculated. We've said we'd need to see the report to understand the basis for their drop (and to potentially renegotiate... No promises). But they've been reluctant to do this and says they'd be happy to proceed with exchange tomorrow still should we agree to the £15k Hmm

Fuming does not cover feelings right now Angry!!

OP posts:
sadperson16 · 27/08/2021 09:02

They lied to get school places.....this just gets better and better.

lazyakita · 27/08/2021 09:03

I'd play them at their own game and insist on exchange at the original agreed price today, or as of next week the price for them goes UP by 15k. See how they like it.

beardeddragon174 · 27/08/2021 09:05

Good luck today. Fucking cheeky fuckers.

fromdownwest · 27/08/2021 09:08

I would just advise them that you are un able to look at a price adjustment without some form of documentary evidence.
You will require sight of the report and a scheduled break down of costs from a recognised builder.

If they are unable to provide this I would suggest stating that you will be willing to proceed on the previous agreed terms, failing that you have had interest from severl other people, and would happily re list the property.

DO NOT CAPITUALTE

HermioneKipper · 27/08/2021 09:11

Arseholes! I bet the market has gone up since you agreed to their offer too. I’d say to give them a deadline and if they don’t agree to exchange then the property is going back on the market at an increased price.

If they do agree to proceed, don’t bother with any niceties eg cleaning the house properly, leaving them champagne or useful notes about the house. They can get to fuck!

Bibbetybobbityboreoff · 27/08/2021 09:14

Oh my god I would be livid.
Sorry you are having to deal with these CFs but stand your ground!
Hope you get sorted today!

ArrrMeHearties · 27/08/2021 09:16

I'd put it back on the market pronto cheeky fuckers that they are

CrackerJack2021 · 27/08/2021 09:17

lakielady and sadperson16 yes indeed, our buyers presented themselves as a 'lovely family' and proved to be utter flat-out liars. They had lied to get their two boys into the excellent school down the lane from our home (they lived in another town where they didn't want them to go to school with the locals), but needed our address to contrive to get them into the excellent secondary. They made a big drama of measuring up, discussing where to put the furniture etc. etc., wanted a copy of the Council Tax bill (for the purposes of applying for the school place), tried on the price drop, and ultimately never moved into our house, letting it out instead. Everything they told us was 100% BS. I am used to reading people and I failed to see through them, took them at face value. It's impossible to know the truth in these situations. I have been told on MN to get over myself and not worry about why these people bought our house and that it's none of my business that they lied and took two school places away from children who genuinely lived in the town, and maybe I shouldn't worry about it. However, my point is that all of this CFery is inspired by reasons such as school catchment, as our case proved.

SunshineCake · 27/08/2021 09:19

@Muma1992

Call their bluff. They're hoping you say you can't afford 15k and offer them something like 5k off. Horrible CF buyers. Please say no.
Don't do this. Why reward such awful behaviour?!Hmm
TheDivineOddity · 27/08/2021 09:19

Something else to consider is how many other properties similar to yours are for sale nearby?
If the CF buyers pulled out because you said no to their £15k reduction then where would that leave them?
In our area there is so little on the market that it's hard to find anything to fit our criteria in the first place let alone putting a solid purchase at risk by trying a trick like this.
Also are they renting? If they are then surely they have already given notice to their landlord who has a new tenant lined up.

Mistlewoeandwhine · 27/08/2021 09:20

Don’t give them one penny off! Bastards!

fruitbrewhaha · 27/08/2021 09:24

OP tell your EA to relist the house straight away. You could have a viewing or two booked in for tomorrow by close of play today.

Was the original offer a fair price? Or did they go over the listed price and get into a bidding war etc? Or was it a standard offer, bit under the price?

If the market is hot where you are and you are confident of the price you are selling at then hold firm. You can't afford to proceed at the lower rate and it's unlikely, in a hot market, that those further up the chain will take a £15K hit. So it's not worth trying to see the report or get into a discussion with the buyers. If however you had been thinking they were paying way to much already then you may need to negotiate.

Either way get it back on the market today to keep your options open.

HaveringWavering · 27/08/2021 09:27

Hope you get them to see sense! Good luck and let us know how it all turns out.

SirVixofVixHall · 27/08/2021 09:31

Thinking of you this morning OP. Hoping it is all resolved , how horribly stressful.

Muma1992 · 27/08/2021 09:34

@SunshineCake I said they are hoping you will offer a token amount like 5k off. I didn't say to do it. Read my post again.

muddyford · 27/08/2021 09:35

I would say prices have gone up since they made their offer. Either proceed as arranged or you'll put it back on the market £20,000 more.

Moonlight1972 · 27/08/2021 09:38

Hope everything is going to turn out alright op

Keepitrealnomists · 27/08/2021 09:40

If your buyers are genuine then they will show you the report with what needs doing, if they refuse you know they are utter CF!

Brainwave89 · 27/08/2021 09:46

My DFIL had this allbeit a couple of days rather than day before. He said no and called their bluff. They caved... but then he withdrew from the sale entirely saying he did business always on good faith and this had been lost. The other side had unfortunately already sold/lined up schools etc... and it all fell through. There is a moral there somewhere...

simitra · 27/08/2021 09:48

Im not selling a house but if there is one thing which pizzes me off it is sleazy dishonest people who agree a price and then renage on it. I almost always state that we proceed with the original price or I put it back on to the market. Stick with the advice given by all these other posters.

WaddesdonWanderer · 27/08/2021 09:50

@Brainwave89

My DFIL had this allbeit a couple of days rather than day before. He said no and called their bluff. They caved... but then he withdrew from the sale entirely saying he did business always on good faith and this had been lost. The other side had unfortunately already sold/lined up schools etc... and it all fell through. There is a moral there somewhere...
@Brainwave89 your DFIL is awesome! Hope he found another buyer.
ilovesushi · 27/08/2021 09:54

We had a similar situation. It's horrible. The buyers just suddenly wanted to pay less. We held out for a few days but we had so much going on and just needed to move. The estate agents were only supportive to a small extent as they just wanted the sale to go through. In the end we accepted the lower price. Horrible people.

Theworldisfullofgs · 27/08/2021 09:57

We had this. At the time I had a v new baby and I think they thought we'd agree to anything. We put it back on the market and it sold within 2 weeks and all done and dusted within 6.

50ShadesOfCatholic · 27/08/2021 09:57

Oh we had this in London. Buyers were "desperate, cashed up and wanted a quick sale" which they then dragged out and at last minute asked for big reduction. We'd already moved out and they thought we would be anxious for the sale but we were fine, v happy on our new house and all finance organised. Was lovely to tell them no and if they couldn't afford it after all we'd put it back on the market. Naturally they acquiesced. Leaves a bad taste though, very rude.

50ShadesOfCatholic · 27/08/2021 09:59

Would SO serve them right if you said no and in fact we'd like £15k more, take it or leave it budd. Boy would I like to be a fly on the wall when they got that message.

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