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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:
Kithic · 27/08/2021 17:29

Have they come back yet

mumoftinyterrors · 27/08/2021 17:29

What's the latest OP? Did you exchange?

These sort of buyers make me so angry 🤬🤬

OnlyFoolsnMothers · 27/08/2021 17:30

Following for update- your buyers are scumbag chancers OP- fingers x for ya!

chriskathome · 27/08/2021 17:30

Tell them either they complete immediately or you up the price to them by £15k

SeedyM · 27/08/2021 17:32

Happened to us about 17 years ago with a 10% drop a week before exchange. Told them to get lost and luckily (as it was not a good market at the time) got some lovely buyers straight away. Original lot came back with a begging letter and some made up sob story about being worried about redundancy and then tried to gazump our new buyers. Luckily we weren't having any of it. Later found out from other local estate agents they'd mucked other people about for a couple of years with same tactics. They are scum and deserve to treated as such.

thenovice · 27/08/2021 17:34

Say it's going back on the market at increased price due to market demand so they take it at agreed price or not at all.

Overdale · 27/08/2021 17:35

As a seasoned Negotiator I would ask them what the reasoning is for seeking a reduction, there is always the danger that if concede to their demands without pushing back they may come back with more demands, I had a Manager who used to say to be; "have they told you to fuck off yet" in other words go back and keep asking for more until you reach that point. please let us know the final outcome

Blossomtoes · 27/08/2021 17:35

@Leedsfan247

They have no obligation to share the survey details with you as they paid for it. Ultimately it’s cheaper to take it on the chin rather than break the chain.
Some people really are doormats, aren’t they?
ThePluckOfTheCoward · 27/08/2021 17:39

@Leedsfan247

They have no obligation to share the survey details with you as they paid for it. Ultimately it’s cheaper to take it on the chin rather than break the chain.
Is it really? 🤔. And you know this, how?
Ginburee · 27/08/2021 17:40

This happened to us 11 years ago and I was heavily pregnant by the time we moved as our buyers had fucked around for so long.
My midwife and GP were insisting I should be in hospital as my blood pressure was si high.
I have such sad memories of what should have been a happy time because our buyer was such as arse. The laws should be changed in England, I have had some friends who have had some horror stories and it makes me never want to move again.

Mersey76 · 27/08/2021 17:40

This happened to my mother 30 years ago on the day of exchange. The Buyers dropped the price agreed by £10k and asked for certain items to be included. The idiot Estate Agent who was representing my mother’s sale had told the Buyer my mother was getting divorced. The Buyer decided to capitalise on that. It caused my mother real hardship.
As someone else has said it depends how much you need this sale and if you want to call their bluff. They must have had to pay out for solicitors fees and the survey so are they prepared to waste that money?

LakieLady · 27/08/2021 17:41

[quote Muma1992]@JudgeJ we are taking a seller like you to court at the moment Grin[/quote]
That sounds like an interesting story @Muna1992!

curlymom · 27/08/2021 17:43

They are all trying it now! My mums buyer tried to knock off 75k for supposed structural issues. Out I durance company sent out an independent surveyor and surprise surprise…. No issues at all! We pulled out and it was annoying but satisfying he didn’t get away with it

Noshowlomo · 27/08/2021 17:43

What happened in that situation @Mersey76 ?

CaMePlaitPas · 27/08/2021 17:44

I'm guessing due to lack of updates that the OP is currently moving out!

Bartonzam · 27/08/2021 17:44

I would call their bluff - or leave some shell on prawns in a few hollow spaces around the house - curtain poles are good ones - they will never find them - until its too late that is...

Graceambrose · 27/08/2021 17:44

Inform agent you are going to get a survey on house, to understand what is the problem and that you will be putting your house back on the market at a higher price, if the survey is good.

This may alter your purchaser's last minute effort to reduce their offer.
Drop your agent if you're sale does not go through.

Dragonsmother · 27/08/2021 17:45

How are you getting on OP?

HeronLanyon · 27/08/2021 17:46

She’d better not be moving out - today was exchange not completion ! Stressful no matter what in these circs

m0therofdragons · 27/08/2021 17:48

@Leedsfan247
They have no obligation to share the survey details with you as they paid for it. Ultimately it’s cheaper to take it on the chin rather than break the chain.

Who in their right mind negotiates without any evidence of what the negotiations are based on? You’d be mad to “take it on the chin”. What a bizarre viewpoint.

TickyTacky · 27/08/2021 17:48

Hopefully everything went ahead for you Flowers

Ddot · 27/08/2021 17:49

I'd put it back on market and watch them beg

Beastieboys · 27/08/2021 17:50

I would call their bluff by refusing and when they come back say sorry gone up by a couple of thousand Smile

lollylimejuice · 27/08/2021 17:53

OMG what happen next .......

Mersey76 · 27/08/2021 17:56

The sale went through minus the £10k and the items in the house they insisted were included. My mother had to sell as my father was insisting the house be sold, and his solicitor made that very clear. It meant Mum couldn’t buy what she wanted and had to find the money to replace the things the Buyers wanted. £10k thirty years ago was worth a lot more than now. It affected her mental health as well, she couldn’t believe how horrible they were. Her house was immaculate and in really good condition. It was partly the fault of the idiot Estate Agent revealing her circumstances.
A few years ago when someone tried to reduce the price of my house I told them that if they didn’t want to buy it I’d put it back on the market. Rang the Estate Agent straight away and told them to do just that. Decided after my mother’s experience that I’d never put myself in the position where I had to put up with someone being a CF.
The Buyer bought my house at the price originally agreed. I guess I was fortunate.