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Original poster

Buyer screwed us over today

362 replies

MrsBaublesDylan · 12/01/2022 13:55

Our FTB emailed the EA today to demand a £25k price reduction based on the work highlighted in the homebuyers report which they received 2 months ago.

All non-essential work, obvious to anyone viewing the house.

When they offered, it was at the very bottom of our range and we accepted without negotiation.

We were due to exchange in a couple of weeks.

They know we are moving for financial reasons, that we have a disabled child who I am a ft carer for and two other children.

They know that we either loose our home, or sell up, move area so we can buy out right and live mortgage free.

We said a flat no and unless they let the EA know today if they want to proceed at the agreed price, then we will put the house back on the market.

The money and our circs aside, how can some people feel it's ok to put people under this type of pressure?

We had some good news recently, but both dh and I agree that without it, the possibility of loosing the flat we want to buy and not being able to afford the mortgage on our current house, would have made us feel suicidal.

We'll be ok but it is depressing to know there are people with no integrity, who choose to live in a way which causes catastrophic harm to their fellow human beings.

OP posts:
HyggeTygge1 · 12/01/2022 13:58

I'm so glad you have told them absolutely not. Some people are unbelievable! Stand your ground and don't negotiate. X

Pugroll · 12/01/2022 14:00

Sadly house buying is a really brutal and potentially unfair process (assuming you're in England, apologies if not). Although morally questionable, they are within their rights to do this, they might just be trying their luck and perhaps would purchase at the agreed price if you refuse.

Sexnotgender · 12/01/2022 14:02

I’m sorry, what absolutely arseholes.

Santaisstilleatingmincepies · 12/01/2022 14:04

What utter Cunts. Isn't it a shame you can't name and shame such people on E A books? Then future sellers could avoid..

HyggeTygge · 12/01/2022 14:04

@HyggeTygge1

I'm so glad you have told them absolutely not. Some people are unbelievable! Stand your ground and don't negotiate. X
Hey, that's my username!? Agree you've done the right thing by standing your ground op.
TrashyPanda · 12/01/2022 14:04

Huge sympathies and best wishes for finding a decent buyer

However, I’ve never understood why people affected by this system don’t campaign for a change in the law. It’s really shite.

I spent over 30 years working in conveyancing in Scotland and never encountered this or gazumping. The system doesn’t seem to be fit for purpose.

gunnersgold · 12/01/2022 14:06

That's what our buyers did to us , they waited until the last minute to do it too. Fuckers!
They wanted a £30k reduction for a new roof which to be fair probably needed to be done ( and they have done it ) but it should have been discussed at the time of negotiation not right at the point of exchange . They for sure did it on purpose !

Comefromaway · 12/01/2022 14:07

I'm glad you said no. They may just be trying it on. At this stage they will have spent quite a bit of money on fees and surveys etc.

But a warning for the future is to not let buyers know too much about your circumstances.

BernadetteRostankowskiWolowitz · 12/01/2022 14:10

If they wanted to negotiate down based on the outcome of the survey then they should have done it as soon as they received the report and done so in a way which was clear, eg "fire condemned needs replacing £2k, roof joists structurally unsound require immediate replacement £20k" etc.

Have they only just received the report?

KaptainKaveman · 12/01/2022 14:12

Arseholes.

Original poster
MrsBaublesDylan · 12/01/2022 14:12

Agree the system in England is shite Sad

I wonder if they have got cold feet and this is a way of pulling out without have to say it outright.

The house is really fairly priced and a very honest little gaff, solidly built.

For context, the agreed price is £325k so £25k is a whopping discount.

OP posts:
Knittedfairies · 12/01/2022 14:13

Good for you! I hope everything works out.

Elieza · 12/01/2022 14:13

Chancing bastards. Stay strong and out the house back on the market.

I’d rather take a reduced price from someone else than these selfish chancers.

NotTheGrinchAgain · 12/01/2022 14:15

Good for you. Bastards. I hate people like that, but the English system encourages it. Another thing the government has failed to sort out year after year.

RidingMyBike · 12/01/2022 14:20

That's awful. We did negotiate a small (£5k!) reduction in ours after getting the survey back. But within a couple of days of getting the survey back?!?! Rather than months?!
If it's any consolation if they do decide to pull out then houses seem to be flying out of EA here so it shouldn't be too hard to find a new buyer?

Original poster
MrsBaublesDylan · 12/01/2022 14:20

They've had HB report for 2 months.

They got a builder in to quote on work which obviously needs doing but is in not way essential. For example, boiler works but if we were staying we would replace it because it is not powerful enough in Winter. All stuff we told the buyers before they offered ironically.

OP posts:
TopCatsTopHat · 12/01/2022 14:25

Some people have no honour or integrity or sucks big time!
Or buyer did this to us, we told them no and they went ahead anyway, they were trying it on and had had all the time in the world to do it (very obvious thing that was already baked in to the price) They thought a last minute demand would have us over a barrel but I was so furious I didn't even think, just told them to do one.
Sale went through next day as planned.

Well done for telling them to stick it and I'm really glad you had that little buffer of protection to help you do it and not be dragged under by dirty tactics.

Aposterhasnoname · 12/01/2022 14:26

Bastards. I’d be tempted to say no and actually the price has just gone up £25k, how do you like that, fuckers? Appreciate that’s not possible in your circumstances , but it’s nice to dream.

Morechocmorechoc · 12/01/2022 14:28

Why on earth did you let them know your desparate position. In future you need to keep your cards. 25k is a lot of money and most people woukd save it if they could. It's a common tactic these days and you have to be prepared for it when selling a house. I don't agree eith it and haven't done it but a lot do

Xfox · 12/01/2022 14:28

They've either had a change of circumstances and are getting cold feet, or are chancers. Did they say what the valuation came back at on the survey?

The good thing for you it is still very much a seller's market.

RidingMyBike · 12/01/2022 14:33

I do wonder if some FTB especially just don't get that the house is valued based on the condition it's in - a kitchen, bathroom, roof or boiler that needs replacing is already factored in to the valuation.

WhatsWithAllTheCarrots · 12/01/2022 14:38

I accepted a low offer on a house years ago but on the understanding that there would be no futher negotiations down the line. They then tried to negotiate based on the surveyor's report. I said no. They paid their original offer. I'm glad you stood your ground - fingers crossed they are just trying it on.

sillysmiles · 12/01/2022 14:40

The money and our circs aside, how can some people feel it's ok to put people under this type of pressure?

Because it is a business transaction and 25K in their pocket is better than yours (to them). While it has personal implications - it is not a personal attack on you and your family.

They know we are moving for financial reasons Why would you ever let a buyer know your financial weakness. It completely undermines your negotiating stand point.

Flamingpantoufles · 12/01/2022 14:41

So sorry this happened to you - it's absolutely outrageous. The same thing happened to us last year when I was trying to sell my disabled, elderly mum's flat and buy her an accessible one near us. Buyer pulled out the day before exchange and wanted more money off an already lower than market price. I wish we'd pulled out then but we spent a while trying to negotiate with him and then found out that he'd put offers in on three other flats at the same time! What a knob.

Anyway, it all ended well because we ended up getting a new buyer who paid a bit more and was totally straight down the line throughout - we got the sale finalised in a record 6 weeks. Best of luck going forwards.

MrMrsJones · 12/01/2022 14:43

As soon and buyer and seller agree a price, that should be it!

Just so unfair for them to do this to you, wankers