Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

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:
MargosKaftan · 26/08/2021 21:19

Agree with say no. Its a hot market. Have a look what else is on in their price range, chances are they will end up spending the same and they know it.

Give them tomorrow then back on the market.

Might be worth asking the estate agent if they can line up any viewings this weekend.

mobear · 26/08/2021 21:20

Agree with PPs, exchange tomorrow or re-commence advertising and viewings over the weekend.

SnarkyBag · 26/08/2021 21:21

A reasoned response? Say without a copy of the report you can’t entertain any negotiation full stop.

Wineat5isfine · 26/08/2021 21:21

Call their bluff. Tell them full asking price or it goes back on the market.

This should not be allowed!!

Sorry for the stress this is causing you 💐

CeeceeBloomingdale · 26/08/2021 21:22

What utter gits. They need to substantiate their claim, try and hold your nerve.

throwa · 26/08/2021 21:23

Just a question - if the searches have only come back this week, the survey (which the mortgage is contingent on) will have been done some time ago, as this would mean that they are ok for any mortgage which they want to take out.

Is there an issue with the survey, in which case they really should have flagged it when it came back - that was the point to negotiate on the survey contents, or with the searches?

But I completely agree with others, give them until 12 noon to put the price back up to what it was otherwise it would go back on the market... they are completely trying it on at this point in the process.

lannistunut · 26/08/2021 21:23

Don't give it the time of day. Tell them it is agreed price or fuck off. Maybe don't actually say fuck off.

Seriously, just no.

JayAlfredPrufrock · 26/08/2021 21:23

Please say no.

littlejalapeno · 26/08/2021 21:24

You could consider telling them you want 15k more than they’ve offered as the market is so hot right now. Play them at their own horrible game.

imisscashmere · 26/08/2021 21:25

Call their bluff, and give them a -short- deadline to get signed documents to your solicitor.

Original poster
BenjiCat · 26/08/2021 21:27

@SnarkyBag

A reasoned response? Say without a copy of the report you can’t entertain any negotiation full stop.
This was my immediate response to the estate agent earlier today. They've then been stalling since.
OP posts:
Rainbowqueeen · 26/08/2021 21:27

I’d go back and say that if there was a genuine problem that there would be no issue with showing you the report and so in the circumstances you feel you have no option but to place the property back on the market immediately unless exchange takes place as agreed.

Original poster
BenjiCat · 26/08/2021 21:29

Plus. Our argument was the mortgage valuation was done ages ago and agreed no problems with the price. We haven't been told what valuation the survey said (it's a homebuyers). Maybe that's why they're reluctant to show us it?

OP posts:
Aquamarine1029 · 26/08/2021 21:29

I would tell them the price is now 5k over the original deal, take it or leave it.

FlourishingFrisbee · 26/08/2021 21:30

Prices are still going up not down. I’d go back and say they exchange by a given deadline (tomorrow 5pm) or you’re putting the house back on the market at £15k higher than previous.

costcocosmos · 26/08/2021 21:32

@Aquamarine1029

I would tell them the price is now 5k over the original deal, take it or leave it.
this
SnarkyBag · 26/08/2021 21:33

In that case I would go silent for a couple of days and let them sweat.

Lougle · 26/08/2021 21:35

There's no way you should drop £15k because they say so. That would be madness!!

Useruseruserusee · 26/08/2021 21:38

Happened to me the other way round. Morning before the exchange, the seller decided she had changed her mind as she was worried her dog wouldn’t like moving to a new house. Hinted that she might change our mind if we raised the offer.

This was almost 10 years ago and we ended up with a better house for the same money but I still get angry thinking about it!

I agree with call their bluff. They are chancing it and playing on you being desperate to move.

Aquamarine1029 · 26/08/2021 21:38

These people are trying to scam you. They are hedging their bets that you're desperate to sell, and in your panic you'll lower the price. Fuck these horrible people. I wouldn't give an inch.

FreeBritnee · 26/08/2021 21:38

@Aquamarine1029

I would tell them the price is now 5k over the original deal, take it or leave it.
God this.
IveGotASongThatllGetOnYNerves · 26/08/2021 21:40

You should say no and you will put it back on the market if they prefer.
Even if you are thinking you might actually negotiate, let that not be your first response. See what they do when they hear you are happy to put the house back on the market

flashbac · 26/08/2021 21:40

Tell them:
“We refer you to the reply given in the case of Arkell v. Pressdram.”

lettersofnote.com/2013/08/07/arkell-v-pressdram/

flashbac · 26/08/2021 21:42

We are rooting for you OP. Hold firm!

MsAdoraBelleDearheartVonLipwig · 26/08/2021 21:44

Bloody cheek! Of course it’s a last minute tactic or it would have flagged up on the original mortgage survey.

Agree with every single person here. Tell them no.