Gazundered day before exchange

[BenjiCat]

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

Fuming does not cover feelings right now !!

@perfectasalways We chose our surveyor, and they didn’t ask who our bank was. Or who our solicitor was. We’re buying in England so maybe that’s the difference! DH has bought before and says they don’t see the survey here, they just value the house themselves either in person or through a desktop valuation, but I think I’ll check with our solicitor tomorrow just incase.

Thanks

Tell them exchange at the agreed price tomorrow or you'll remarket it at 5.30pm tomorrow night

* 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.*

^This. Stand your ground OP. It is a sellers market. Don’t give in to these despicable people.

@perfectasalways

BenjiCat first time buyers who would presumably almost definitely need a mortgage. The mortgage company would have needed to see the surveys before producing the mortgage offer. They are totally at it and I would tell them to stick it. The house will almost definitely have increased in value since March, although the same could probably said for the house you are buying.

Ours didn’t. Did a desktop valuation and we got the searches back well after our mortgage offer. Searches did have an issue and we had to notify them, but we already had the offer!

If the issue was genuine I’m sure they would have sent the report with it.

We received four full asking price offers for our house; we chose the ones who claimed to be cash purchasers, turning away three lovely other families. Subsequently:

1. The buyers commissioned a full structural survey despite our house being only 20 years old = red flag number one
2. They started enquiring about the trees in the garden which were not even near the house, whingeing that there was a risk of their roots undermining the building (rubbish)
3. They asked for a copy of the Council Tax bill (random??) which I believe they subsequently doctored in order to apply for school places.
4. They announced that they would not be moving straight in on completion = red flag number two
5. On receipt of their FSS, they told the EA that there were 'serious issues' but would not show the report, and demanded a £12k price drop

I told them that if they wanted the house they needed to exchange contracts by the following Friday, or it was going back on the market.

The EA was useless and just stood back and watched, didn't get his hands dirty, the buyer was a hardcore nasty CF.

They came round to our way of thinking and exchanged as we requested when they realised that we were 100% serious.

It was really important to them to have our house as they had already lied about where they lived to get their two boys into the excellent junior school nearby, but really needed our address to get them into the equally excellent secondary school.

The sale went through, they never moved in, and subsequently let the house out.

They have continued to lie about where they live and have taken two school places away from children in the town where they do not live.

If and when we ever move again I will take out a bridging loan and take the hit of that and extra stamp duty, no way am I going through that again.

Sorry for what you are going through OP, and good luck .

We had this. First he was messaging us at 9pm at night saying he was worried about brexit and wondered if the price should go down. Then he said he wanted to drop the price after getting his survey. We requested the survey and refused to drop after reading it, it wasn't anything major - I actually wondered if he could understand the survey as most of it is 'may be' or 'could be' etc. He then requested that we do some minor repairs to the house (fill holes/paint a few scuffs/replace a tile), we then discovered in the contract that he/his solicitors had written in a clause that if he wasn't happy with the standard of work we had done then he could pull out and we would OWE HIM his deposit with interest which had to be paid within 14 days. Our solicitor said he wasn't even going to send it to us as it was so ridiculous. We told him that if he didn't sort his shit out (in so many words) then we would pull out. We exchanged by the end of the day. It was absolutely appalling and despite exchanging contracts I was just so fucking fuming that I wasn't happy about it at all tbh.

I dread the day we have to move again.

@perfectasalways

TakeYourFinalPosition don't know about England but I would doubt a mortgage lender would lend on a property they haven't seen the survey for. They maybe got it directly from the surveyor - that's what happens up here. They need to know the value for starters but it's usually up to the solicitor to tell them if there is anything major in a survey.

Bank will do their own survey. Often in U.K. it’s a desktop valuation. Aka no one even visits the house! People are free to then get their own survey . But I think it’s the searches not the survey that’s thrown up an issue?

It did make me extremely petty when we left though. He had got such a fucking deal as he basically said 'what will you leave in the house for me' so we said oh you can have the washing machine and you can have the spare bed and you can have the wardrobe in the bedroom. Was an IKEA wardrobe - one where you customise it. I took all the drawers with me and the pole across the top. Childish, yes. But he was just such a fucking arsehole.

Tell them to fuck off and hold firm. You'd probably get more on open market now than when you accepted. Timing might be shit with a baby in the way but don't give in. They are taking the piss!

Hmm, strange that the amount that they want it reduced by is the exact amount of the stamp duty reduction that ran out in June... if only they had got their skates on.

People are so awful these days. One thing that my friends did when something very similar happened to them was that the people up the chain split the demand of a person similar to the one you're dealing with three ways. So you'd absorb 5k loss, so would the two sets of people in the chain above you. Some CF basically held the entire chain to ransom and got away with it. Don't know how people sleep at night.

@everythingcrossed

Hmm, strange that the amount that they want it reduced by is the exact amount of the stamp duty reduction that ran out in June... if only they had got their skates on.

Didn't even clock this! Argh these people make me so mad

GTF twats!!

IF there were genuine issues, they'd have provided the survey etc.

I'd ask the agent to line up viewings for this weekend.

Put it back on the market. CFs

We've said we'd need to see the report ... but they've been reluctant to do this

I'll bet

Usual last minute scumbag tactic I'm afraid, and the only thing to do is say no. If you don't they'll probably demand yet more

@everythingcrossed

Hmm, strange that the amount that they want it reduced by is the exact amount of the stamp duty reduction that ran out in June... if only they had got their skates on.

Is it? Where did OP say that? They’ll still get the first £250k duty free anyway. That ship sails on 30 September.

First time buyers dont pay stamp duty

I did not think this sort of thing was allowed anymore.
When I sell my house I am going to rent.
Nobody will do this to me.
It is beyond disgraceful

Call their bluff, they’ve spent money on a survey and lawyers

Call their bluff. Then a few months down the line burn their house down

@Guavaf1sh

Call their bluff. Then a few months down the line burn their house down

Blimey and I thought I was vicious!

I hope you get this sorted OP!

That is really shitty unless survey throws up some major things....buyers did this to one of my old neighbours....filthy rich and owned other properties but not the point.....Buyer dressed in a burqa and grabbed her ankles and wailed about husband beating her and locking her in cupboard so must have the house for less...then demanded all the beds, appliances etc etc...tv, video, micowave as she was leaving husband with nothing.....she rented it out within hours of exchanging contracts to 7 blokes and swanned around with her husband holding hands the next day...!!

These people want £15,000 of your baby's future inheritance.

I'd tell them to kiss my arse!

Houses round us are going at a rate of knots here, only on the market a few days at silly prices. I'd remarked it straight away tbh.