It's another last minute pullout or reduced offer by buyer one...

[Ruralbliss]

My turn to have on the eve of exchange of contract with completion scheduled for following week, removals pencilled in etc the chain free cash buyer has intimated they might be pulling out or if they do proceed it will be at £££ below agreed price.

I'm all packed up with stressed out teens desperate to get the big move done and will need to renegotiate my own purchase or mortgage offer if I allow a price drop which maybe my squillionaire cash buyers don't know.

No clues as to what's making them behave this way - either they've changed their mind and found something better or planned this dastardly approach all along.

I'm not doing any knee jerk responses and waiting to hear formally through conveyancer rather than the verbal tip off I've had from my estate agent who is naturally unimpressed days away from it all being finalised.

Any hints or tips on how to play this gratefully received.

Thanks @eightlivesdown I always had a funny feeling about them offering way way way over asking price when they didn't need to (it wasn't a bidding war) but buying it as a spare home so I doubt I'll get a better price offer but as it didn't materialise it's all fantasy anyway.

I like to think of all the unknown scenarios that could have happened if we'd proceeded - might have got hit by a bus on day 1 of living in new place.

Not worth dwelling on but hope it doesn't happen again. I've heard of two people this week who had buyers pull out last minute TWICE. And subsequently took circa two years from the For Sale sign going up to actually completing.

I'm back to looking at teeny fuel efficient cars as that's where the idea to move came from I was fed up of spending £300 a month on my commute then realised I could just move closer to work. Easier said than done it would seem.

So sorry to hear OP.

A few weeks back was that awful person who had to pull out at the last minute.
I had my reservations about the house I was buying but went along and we were about a week or two about from exchange and few weeks away from completion. I got quotes for removals and our long chain was falling into places after nearly a year of wait.

In the meantime my work situation became very uncertain to a point where I wasn't sure if my job will be still there in a year's time... scary internal rumours... I panicked about the uncertainty and pulled out as I felt I am holding up the whole chain.

An obvious heartbreak for my sellers and buyers but the sellers have since resold and I have no clue about my buyers. They were the most lovely buyers ever and my heart was breaking for them.

Anyway.. now few weeks later it seems that my job is safe after all (at least for a couple of years) and I've lost it all for nothing. And this is the shittiest position to be in........

Anyway was just sharing......

@DFOD

Be careful with your EA - they are not on your side - they are on the side of their commission.

The EA hinting to you is possibly sounding you out.

If they didn’t seek a reduction at mortgage evaluation stage - well ahead of exchange then they are not paying well over.

I would be a firm No.

I would be talking to your EA about getting teed up to remarked … let that filter back to the buyers.

This, our EA were all for our buyers too. They were really trying to get us to drop, we didn’t. Sale still went through at the agreed price.

So sorry OP. Hopefully you will get an offer soon and find an even better home for you family