Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

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:
JulesCobb · 27/08/2021 07:51

Like youve said, changing the price would create a delay anyway, so id be saying no and giving them a deadline and instructing the agent to remarket.

Dixiechickonhols · 27/08/2021 07:52

Such a shitty tactic (perhaps encouraged by a relative)
If survey had shown lots of problems they would have come to you much earlier and disclosed what report said to enable sensible negotiations.
I wouldn’t get involved in show me the report and we’ll see. Give an inch take a mile.
I’d have solicitor say exchange by 12 today as planned or we remarket this pm. Tell estate agent ASAP. It can be on right ive again this afternoon you can always get photos re done later.
You can’t agree anyway unless it works out mortgage wise for you which will take time.
It’s them messing the chain up not you. Don’t feel bad about elderly man.
People pulling tricks like this will only mess you around further.

Cookie79 · 27/08/2021 07:54

It happened to us years ago. Arsehole dropped by 5k just before exchange. The house wasn’t an easy sell, the market was shite and we’d started moving out to a relatives for a few months to break the chain. Over a complete barrel and they knew it.

We had to give in but I hope karma bit them in the arse at some point.

The system is crap and it shouldn’t be allowed to happen.

Hope you get something sorted today Op so you can relax and enjoy the bank holiday weekend.

Pipsquiggle · 27/08/2021 07:55

As others have said you need a very strong response.

They think they have you by the short and curlies due to your timings but actually they are shooting themselves in the foot as any change in price (up or down) will mean extra time added onto the process which means you miss your ideal moving window anyway.

So they either exchange at the agreed price today or it goes back on the market today.

The English property system just stinks

onelittlefrog · 27/08/2021 07:56

@BenjiCat

Exactly what our theory is *@Gazelda*! The buyer's parents have been very involved throughout the process and we think it's a mixture of naivety about the property market and chancing their arm regarding our situation.

You're right. I've barely slept last night stressing about it all and can't bear spending the Bank Holiday weekend fretting further. It's get on with today as agreed or I guess the chain will be collapsing. Ahhhhhh

:( Sorry you're going through this OP and whilst you're pregnant as well.

No advice really but it's awful what they are doing, they are definitely just chancers.

It's easy to say "Call their bluff" but then you are back to square one.

Hope it all resolves. People seem to show their worst nature in the housing market.

Letsrunabath · 27/08/2021 08:00

Tell them to do one. They are totally chancing their luck and you do not need to entertain them. It’s a sellers market at the moment so why they think they can do this is naive or mad.

fluffygreenmonsterhoody · 27/08/2021 08:04

Stay strong OP. Good luck.

TirisfalPumpkin · 27/08/2021 08:07

It's gutting isn't it - but if no seller entertains this behaviour, buyers will stop trying it. £15k is a lot of money and even if it costs more to re-market, there's that issue of fairness/justice - nobody should profit from pulling a despicable trick like that.

I particularly like the idea of blacklisting them if it does end up back on the market, i.e. will sell to anyone but them, at any price. Is that legal?

Really hope it comes through for you, OP, that you get your full asking price in a timely and stress-free manner, and definitely not recommending hiding a prawn somewhere in the property for them to find.

OhThatChicken · 27/08/2021 08:08

Good luck for today OP, whatever you’ve decided to do.

The English property market is a joke!

RomComPhooey · 27/08/2021 08:11

@MsTSwift

We had wealthy relatives at the top of the chain who stepped in and bought the equivalent of the ops house at the bottom of the chain when the FTB at the bottom of the chain pulled out 😁
We had similar. Our cash buyer was dicking us about. I was heavily pregnant, within a month of my due date. The guy we were buying from was a property developer and there was no chain above. He told our solicitor he’d buy our old house from us outright (cash) to facilitate the move and Mr R (dick) could buy it from him instead when he was ready to stop dicking about. Mr R completed on the previously agreed date.
MrsPerfect12 · 27/08/2021 08:14

Wishing you the best of luck. I agree with the others of a deadline to complete today at noon or it's back on the market for this weekend.

bewilderedhedgehog · 27/08/2021 08:14

This happened to me many years ago. I said absolutely not and they went through with the sale - it was a try on. Good luck today - fingers crossed for you

prh47bridge · 27/08/2021 08:16

@amatsip

Say you are carrying on with the agreed price if they pull out they will be liable for their estate agent fees solicitor fees, as they will be the ones pulling out not you.
7As contracts have not been exchanged, the OP cannot make them liable for estate agents fees (which there won't be anyway - the estate agent only gets paid on completion) or her solicitor's fees. The only thing the buyers will be liable for if they pull out is their own solicitor's fees.

The fact they are stalling over sharing the survey strongly suggests that it doesn't show problems that would cost £15k to fix. I would tell them that, if they do not exchange today at the agreed price, the house is going back on the market and will not be sold to them at any price. If there really were problems on the survey, they should have addressed this before now, not left it to the last minute.

mumoflittlemice · 27/08/2021 08:17

liveforsummer

Your proposed response doesn't sound firm enough and sounds still open to negotiation. 'No, sorry. This house is actually worth more now. Proceed by 12pm today or it will be back on the market for the weekend at a higher price' As you've said, a bank holiday wondering would be torture

This also do not use words like ‘happy’ in your response, the tone is totally wrong for what they have presented you with. Words like ‘no’ and ‘absolutely no way’ and ‘reconsidering if we are prepared to sell to you following this underhand and calculated manipulation to take £15k from us’ would be the direction I would be going it.

Disgusted and outraged on your behalf. Do not entertain for one moment and make sure they know it. Unless your house is a ramshackle barn with a caved in roof, I wouldn’t have the slightest interest in the what their report (allegedly) says at this stage of the game. The price is the price or get to fuck. Honestly!! CF’s!!

Courage! Good luck! Flowers

Gilmorehill · 27/08/2021 08:20

I hope you’ve told them to do one Op. They’d have to get a new mortgage offer so it will only delay the process further.

BillMasen · 27/08/2021 08:20

Easy for us on here to tell you to say no, call their bluff, walk away. We’re not invested in the move and I understand it’s very emotional.

Shitty move and I hope you’re able to say no. I don’t like it when bullies win

EastWestWhosBest · 27/08/2021 08:23

Good luck today. What utter bastards.

sadperson16 · 27/08/2021 08:25

How do people live with themselves when they are devoid of any morality?

Nomorepies · 27/08/2021 08:27

This reply has been withdrawn

This has been withdrawn by MNHQ on the poster's request

Muma1992 · 27/08/2021 08:37

@BillMasen

Easy for us on here to tell you to say no, call their bluff, walk away. We’re not invested in the move and I understand it’s very emotional.

Shitty move and I hope you’re able to say no. I don’t like it when bullies win

The OP has asked for advice, so is receiving the best advice. You absolutely should not hand over 15k off the books for a house sale to go ahead.
pussycatlickinglollyices · 27/08/2021 08:44

@Nomorepies

Instruct your agent to place it back on the market. Don't tell them, see if they notice.

They're CF of the highest order, no not sell to them. The market is insane right now, it will sell.

^This.

Give them until noon, and instruct the agent to get it back on the market so you catch some weekend viewings.

LadyDanburysHat · 27/08/2021 08:44

What a horrible situation OP. You've had some great advice here. Stand firm and don't let those cheeky fuckers have a penny off the asking price.

Sxxyfing · 27/08/2021 08:48

Honestly call their bluff and threaten to remarket. You'd be surprised at how understanding the rest of the chain will be, just as people on here have been.

LakieLady · 27/08/2021 08:53

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.

Cheeky fuckers!

You can find out the council tax for any property in the UK by using www.mycounciltax.org.uk . If ever this happens again, you can just refer the CFs there!

whenwillthemadnessend · 27/08/2021 08:55

So 😡 for you OP

Our buyers treated us badly too. We had to move out a month early and put all our stuff in storage or they threatened to pull out.

Cost us 2k in extra removal and storage fees but it was worth it in the end as we would
Have lost the house and now the market has gone nuts. We would have been priced out

I still
Resent her tho. Her husband was lovely.