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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:
Brennanlady1888 · 27/08/2021 17:56

I'm not sure they can do this as it may affect their mortgage offer

godmum56 · 27/08/2021 17:57

[quote m0therofdragons]@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.[/quote]
no they don't have to share the details but rthe sellers don't have to reduce the house.....

GeorgeAnneAndTimmytoo · 27/08/2021 17:57

Hoping they saw sense … and if they didn’t that next year we found an ever more amazing new home and that your current one has increased in value by a mile.

GeorgeAnneAndTimmytoo · 27/08/2021 17:58

*you not WE 😂

PrimoPiatti · 27/08/2021 17:59

Go back and tell them you've put the price up by £20K

Bakingcupcake · 27/08/2021 18:00

Any update OP?? Hope all has gone in your favour!

Leedsfan247 · 27/08/2021 18:01

Thanks for that - I am entitled to my opinion. If the bluff gets called and the chain collapses…. £15k is cheap

QueenoftheFarts · 27/08/2021 18:01

This happened to me. I told the agents to put it back on the market immediately. Within 15 minutes the issue they claimed meant a 20k reduction had solved itself and they were buying again. I fucked about with them for a few hours before conceding they could still buy.

Robyn1990 · 27/08/2021 18:02

Have they responded?

oakleaffy · 27/08/2021 18:02

OP they sound like R.Soles .
Hope you managed to complete the sale.

CaMePlaitPas · 27/08/2021 18:02

@HeronLanyon

She’d better not be moving out - today was exchange not completion ! Stressful no matter what in these circs
Ah my mistake! Yes you are right. In any case I hope the OP didn't accept a 15k reduction the cfs.
Ginger1982 · 27/08/2021 18:03

Hope you're celebrating!

lightsout · 27/08/2021 18:03

Hope they came through in the end op!

ErinAoife · 27/08/2021 18:04

How is it going OP? I am in the same position than you, I told estate agent to put back the ouse on the market today.

50shadesofmagnolia · 27/08/2021 18:04

I thought moving in the middle of the first lock dow was bad enough. I hope you managed to move. If not something better is out there for you.

Baileysmum220118 · 27/08/2021 18:07

@BenjiCat Did you exchange?

SSCCLL · 27/08/2021 18:16

Good luck!!

Coffeepot72 · 27/08/2021 18:19

???????????????????????

MyNameIsJane · 27/08/2021 18:20

Wishing you the best of luck with exchange.

PeachyPeachTrees · 27/08/2021 18:22

I was gazundered the day before exchange after lots of silence and delays by the buyer.
I hope your sale goes through as planned. Flowers

Classica · 27/08/2021 18:23

@Leedsfan247

Thanks for that - I am entitled to my opinion. If the bluff gets called and the chain collapses…. £15k is cheap
How is it in any way cheap though?? It's not cheap if they are indeed chancing their arm, and it's also not cheap if they're in earnest but the OP can afford to stay put.
Ferret27 · 27/08/2021 18:24

Mmm

readytosell · 27/08/2021 18:26

Guessing either OP is celebrating post exchange or drowning her sorrows !

m0therofdragons · 27/08/2021 18:28

@Leedsfan247 when our chain broke the solicitors transferred all the sales work they’d done to the next buyer with minimal additional cost and they only charged us for out of pocket expenses on the buying work so we were out about £4K including survey. Mortgage advisor also transferred his fee to new property so no loss there. £15k change in cost at this stage means significant delays while solicitors and mortgage companies redo all their work at additional cost anyway so taking it on the chin means waiting longer and paying more. May as well get a new buyer who is less of a prick.

apple72 · 27/08/2021 18:32

If the buyers don’t want to share the report or list specific items, they are not in good faith and just trying it on.

I would tell the agent you need the full cash to buy, he or she needs to find another buyer ASAP, possibly putting it on at a higher price. Agent will report that instruction to buyers and they will probably exchange.

If not, you can always agree to their terms another time. (I appreciate the chain problem but the chain will also collapse if you can’t pay for your purchase.)

Nb the agent is your friend at this moment. He or she desperately this to happen as it’s all lined up. Use him or her accordingly.