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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:
Blossomtoes · 28/08/2021 16:37

@sadperson16

Surely if you behave in a spiteful, nasty manner you are every bit as bad as the people who did the initial wrong?
You’d have to be spectacularly spiteful and nasty to be as bad as people threatening to ruin an entire chain by pulling a last minute stunt like this.
FrippEnos · 28/08/2021 16:43

@sadperson16

Surely if you behave in a spiteful, nasty manner you are every bit as bad as the people who did the initial wrong?
Your post is part of the reason that people get away with this.

The answer is for people not to pull these nasty and spiteful stunts in the first place.

DeRigueurMortis · 28/08/2021 17:04

The thing is that in terms of monthly mortgage payments on a 20 year basis isn't actually that much money.

I think that people who pull this stunt often fail to look at the bigger picture.

Is not just the risk of the seller pulling out, I think people ignore that they will still be "custodians" of your house until completion.

People have posted about some petty "revenge" tactics but frankly there is still the expectation of a lot of goodwill from the seller to the buyer without putting prawns under tue carpets or similar.

I've sold 7 houses in my time and thankfully in dealt with this situation once.

Like the OP we held firm and the sale proceeded on the original terms.

In all my previous sales I'd gone to great lengths to leave the house absolutely immaculate. Carpets/ovens professionally cleaned, grass cut, windows cleaned inside and out, outside bins cleaned and emptied, checking every lightbulb worked etc and on moving day literally "hoovered" myself out of the door after leaving a bottle of Champagne and welcome to your new home card.

Let's just say that for the couple who tried to mess us around I found that due to all the messing around with the EA/Solicitor I simply didn't find the time to do these tasks.....I did not feel guilty about it....

RamblingJenny · 28/08/2021 17:29

Can I ask though, if you get the survey back but you previously stipulated that there is no budge on pricing where does that leave you if things do get flagged up on the survey?
I really want to make sure when we move we don’t have this nonsense as our previous property looking back we took a 5K deduction hit but I was so desperate to move I thought it was just common knowledge to negotiate. I’d stand firmer now knowing it happens so often but how can you call their bluff or their concerns fairly without leaving you as a seller out of pocket?

Foramen · 28/08/2021 18:12

Put it back on the market. If they really want it they'll cough up.

user1487194234 · 28/08/2021 18:20
  • Scottish system is - in some ways - better. Fixed price is one option and "offers above" a price by a set date is another. I seem to recall that an offer to buy at fixed price or at the highest offer is binding but it's a long while since I ahd anything to do with the legals and Scotland was only in passing* Not binding until the Missives are concluded which increasingly is taking ages
401Hils · 28/08/2021 18:30

Friends of ours had exactly the same thing in July. I think it’s linked to the £15,000 people feel they have missed out on by not exchanging before 30th June.They told the buyer to forget it as since they had agreed price it had gone up in price anyway. Maybe offer them £5000 and after that tell them to forget it. My daughter was pregnant and they moved a month ago. Their survey said roof might need doing but they liked the house and felt they had made more on theirs than expected and had got the one they wanted for a reasonable price so didn’t ask for any more money off just accepted work eventually would need doing. Good luck but so stressful . Yes the law does need to be changed

Original poster
BenjiCat · 28/08/2021 18:35

@DeRigueurMortis

The thing is that in terms of monthly mortgage payments on a 20 year basis isn't actually that much money.

I think that people who pull this stunt often fail to look at the bigger picture.

Is not just the risk of the seller pulling out, I think people ignore that they will still be "custodians" of your house until completion.

People have posted about some petty "revenge" tactics but frankly there is still the expectation of a lot of goodwill from the seller to the buyer without putting prawns under tue carpets or similar.

I've sold 7 houses in my time and thankfully in dealt with this situation once.

Like the OP we held firm and the sale proceeded on the original terms.

In all my previous sales I'd gone to great lengths to leave the house absolutely immaculate. Carpets/ovens professionally cleaned, grass cut, windows cleaned inside and out, outside bins cleaned and emptied, checking every lightbulb worked etc and on moving day literally "hoovered" myself out of the door after leaving a bottle of Champagne and welcome to your new home card.

Let's just say that for the couple who tried to mess us around I found that due to all the messing around with the EA/Solicitor I simply didn't find the time to do these tasks.....I did not feel guilty about it....

Exactly @DeRigueurMortis! We've already said if it goes through our revenge will be the inability to clean and tidy the house and garden (which we absolutely normally would do as you say) due to the last minute flapping, being eight plus months pregnant and (now thanks to the buyer) lacking 'time' Smile.
OP posts:
SailingBuddy · 28/08/2021 18:37

Best of luck OP. I’m glad it has all fallen through yet. Fingers crossed for a calm BH weekend for you.

Ddot · 28/08/2021 18:52

If the survey flags up something unexpected then yes you renegotiate the price to cover the cost of repairs. This is not the same thing, he is just being a greedy chancer.

MargosKaftan · 28/08/2021 18:54

@daisypond - I know someone who lost a sale due to that too - their buyer had offered on 2 houses, had surveys done on both then decided rather late in the day which one they wanted. Seems incredibly wasteful to me.

sadperson16 · 28/08/2021 18:59

I think lieing and cheating is the pits.
I'm not sure digging up plants and pestering charities is the best way to deal with it.

KihoBebiluPute · 28/08/2021 19:58

Good luck for Tuesday then!

BlueMongoose · 28/08/2021 20:44

@daisychain01

Not necessarily. This happened to my neighbour. Unbeknownst to him, his buyers had two properties they had offered on, and were accepted, and had all the legal work done on both. They pulled this stunt in the sure knowledge that they had another property on the go. My neighbour refused to sell at the reduced price. The buyer went with the other property.

Sounds like a right cock-and-bull story from your neighbour.

Whyever would anyone pay doubt the expenses and line up two properties including mortgage offers, insurances, conveyancing, searched just on the off chance of pulling a stunt that they had zero guarantee of it coming off in their favour.

Chinny reckon on that.

I can believe it- they may have thought (possibly correctly, we don't know how much they may have got knocked off the other house they actually bought) that they could use the ruse to cut the price by more than their costs. It would be weird, yes, and nasty, yes. But anyone who follows house buying and selling forums has read worse- both more illogical and nastier. Property buying and selling seems to bring out the worst in people.
msgreen · 29/08/2021 08:16

YOU must see the report , is it possible there's something that's
freaked them out that genuinely needs doing?
This is where you need a good experienced estate
agent . (rare)
Easy to tell the purchasers to F off , but may be there is a chance to save the deal.
Nothing can be done until you know what they think needs doing .
No report ,no messing .
Depending on the reply ,maybe worth it to you to take a 4 /5 grand hit if you can.
Think big picture ,a lot of asking prices have been higher than a mortgage report valuation (Home buyers report) will hold up to .
Or if they had a full structural survey ,they often read really badly to the untrained eye by their nature .
so much info to find
I would Get it back on the market and start viewing now if you don't get clear answers , no reason why your estate agent and solicitor can't still work on pulling the deal back together .
Plan B
When back on the market ,get a "friend "to view ,make a higher offer
as a cash buyer , you need some leverage here !!!
your friend can then have a sudden change of heart ....opps that's not nice !
Wishing you the best ,poor you so hard , good luck

purplebunny2012 · 29/08/2021 10:13

@bunnybuggs

Happened to me - signed contracts and removals booked etc when the b**d wanted £20k off because of the results of the survey (structural). I argued £10k off as I was so desperate for health reasons to move and he was a (friend) who had made the offer as he knew the house. I argued that no builder had come round to quote (I would have seen them). He had had this survey done 6 weeks before and had not argued the toss then. It was blatant tactics prompted by someone who advised him to play the game. In the end I agreed to £12k off (which hurt) and wished him very bad kharma. I do not understand why people think they are so clever doing this. He knew I needed to move (like you OP) and knew I had already shelled out solicitors fees, moving fees and the rest. I do wish I had told him to forget it - which I would have done had he tried this trick earlier. Buying and selling in the UK is horrendous - something needs to change (or some people need to be more honest) Shock
Horrible of a "friend" to do that Flowers
LoveMyBusPass · 29/08/2021 11:00

Your Estate Agent works for you and not for the purchaser. They should be on your side.

BigWoollyJumpers · 29/08/2021 11:29

@LoveMyBusPass

Your Estate Agent works for you and not for the purchaser. They should be on your side.
We had a similar (but different) issue with DM's house.

The day of exchange buyers solicitor contacts our solicitor and estate agent, saying they needed an "asbestos" report, which we hadn't provided, otherwise they wanted a £10k reduction in order to exchange.

Our estate agent kindly said "fuck off", our solicitor, politely but firmly advised that this report was not needed, why did they leave it until the last day, and what the hell was going on.

Turns out the buyer knew nothing about it, but the solicitor was a bit "sharp" and did this kind of thing regularly to try to seem clever and save his clients some money. The buyer was livid! She was desperate to move in, and was appalled by her own solicitors behaviour.

purplebunny2012 · 29/08/2021 14:04

[quote Charmatt]@Alcemeg - a Gazunder is a potty that goes under the bed!

It was a very popular term in the Midlands and maybe elsewhere, but my Mum always points them out when we visit a stately home! Grin[/quote]
Meanwhile everywhere else calls it a chamber pot

lollylimejuice · 29/08/2021 14:57

Purplebunny the English language is always evolving.... it's a gazunder if it goes under your bed! Just as a back alley is often referred to as a back jigger and don't get me started on balm cakes or baps! Anyway, its balm cakes and very nice with ham and cheese. Good luck to you OP we all wish you success.

purplebunny2012 · 29/08/2021 15:02

As pp have said, it is not just mortgage companies holding things up. My parents were cash buyers. I can't remember when the offer was accepted on the house they were buying but they were promised they'd move by Christmas last year. They finally moved early March. Seemed to be the solicitor holding everything up

TatianaBis · 29/08/2021 15:46

@purplebunny2012

As pp have said, it is not just mortgage companies holding things up. My parents were cash buyers. I can't remember when the offer was accepted on the house they were buying but they were promised they'd move by Christmas last year. They finally moved early March. Seemed to be the solicitor holding everything up
If they people, their sellers are in a chain and/or have to get a mortgage you’re at the mercy with that

The only way to get a cash purchase through fast is if your property is chain free.

Pipsquiggle · 29/08/2021 17:10

@RamblingJenny surveys/searches are part of the house buying process. They usually happen weeks before exchange so if they do throw up some issues you can negotiate accordingly.
Sometimes the seller will agree to a reduction - particularly if it is serious /expensive to rectify; sometimes they won't.
Asking for a price reduction the day before exchange 'due to a survey' is just bullshit and it is the buyer trying to rob the seller blind due to the high pressure of wanting to buy a house and not wanting to break the chain.
It is very poor form and anyone who does this, IMO, automatically joins their peers of robbers, scammers and other deceiving low lifes

Ddot · 29/08/2021 18:32

Put them in the stocks, get the rotten Toms ready

purplebunny2012 · 29/08/2021 18:48

No, their vendors didn't have a mortgage either, it was definitely my parents' solicitors

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