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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:
HotToddyColdSauvignon · 12/01/2022 15:10

Sorry OP

Hope they get back to you, but keep an eye on them till you exchange, they sound tricky slippery bastards

MissConductUS · 12/01/2022 15:14

In the US it's standard practice to for both parties to sign a contract when the offer is accepted that specifies the price and any contingencies. The buyer pays a deposit into escrow, typically 10% of the purchase price. If the buyer doesn't have a valid contingency and fails to complete at the specified price the seller keeps the 10% deposit.

This definitely discourages this type of last minute nonsense.

thepastisanothercountry · 12/01/2022 15:15

I'm sorry OP. House buying / selling is a brutal process and these hardball tactics seem to be very common. I'm afraid you've got little choice but to either negotiate or slam the ball back at them.

We had this happen last time we sold - they dropped their offer by 20% supposedly based on survey which they refused to show us.

We point blank refused and told them they had 48 hours to make their minds up to pay the price they'd offered or we'd put it back on the market - their solicitor phoned just after the 47 hour mark and offered full price.

JaninaDuszejko · 12/01/2022 15:15

Our buyers did that to us when we sold our last house. Twice. Bastards. We were desperate to move so swallowed the loss but I hate them so much. And then completion had to be delayed by a month because they messed up the transfer of their funds. They then had a problem with the drains after they'd moved in and got the estate agent to phone us to ask what the issue was! Don't know what they expected us to do at that point. Arseholes.

Thankfully the people we bought this house from were lovely and so this side of the move was much less stressful. The house was spotless when we moved in and they left us a nice card and bottle of bubbly. The contrast was quite something.

Haz1234 · 12/01/2022 15:16

I feel your frustration. We are buying a house and seller are dragging their feet doing the paper work. Nervous they will have a change of mind!

ConstanceL · 12/01/2022 15:20

Stand firm OP, what CFs - the time to do this - if they were genuine and not trying to pull a stunt - would have been when they received the report in November.

Wife2b · 12/01/2022 15:23

Well done on calling their bluff OP. Hopefully they’re just chancers and you can plow on!

Memberhere · 12/01/2022 15:24

Can anyone with experience or any mortgage advisors tell me how it is when you haven’t worked for a while and found employment 6 months contract is it possible to get a mortgage? And will long term unemployment disqualify you from mortgages?

Work contract is contractor under an umbrella company.

What’s confusing is when you’re under an umbrella company are you not an employee of them and would have to fill your mortgage application as an employee or you choose the option “contractor” when asked?

That is quiet confusing

If you can recommend any mortgage advisor that has worked with similar cases would be great

I know that someone banks will lend with only a contract but does long term unemployment affect those rules?

Gonnagetgoing · 12/01/2022 15:25

People bitching about estate agents - at the end of the day they're after their sale and their commission fee/cheque. That is all. I have worked with them loads through work and the vast majority have no scruples whatsoever and are thick as pigshit.

Gonnagetgoing · 12/01/2022 15:27

Oh and EAs lie all the time about various issues and we had clients on the phone sobbing and very stressed due to an estate agent bullying them. Disgusting people (EAs!).

Happyhappyday · 12/01/2022 15:31

Our buyers did this to us too, it was 3 years ago and it honestly still annoys me! We had a 3 month old, were moving abroad with a fixed departure date and it was right before brexit so we went with it… but I sometimes think about writing them a letter about what knobs they are!!

KatherineJaneway · 12/01/2022 15:33

I've heard of this happening more recently. If they think the owners are desperate to move they offer a lower price and think by doing so at he last moment it will force you to agree. Glad you said no.

chestnutSquash · 12/01/2022 15:33

@Memberhere

Can anyone with experience or any mortgage advisors tell me how it is when you haven’t worked for a while and found employment 6 months contract is it possible to get a mortgage? And will long term unemployment disqualify you from mortgages?

Work contract is contractor under an umbrella company.

What’s confusing is when you’re under an umbrella company are you not an employee of them and would have to fill your mortgage application as an employee or you choose the option “contractor” when asked?

That is quiet confusing

If you can recommend any mortgage advisor that has worked with similar cases would be great

I know that someone banks will lend with only a contract but does long term unemployment affect those rules?

You need to start your own thread @Memberhere as this will get lost in the middle of this one.
Thirtytimesround · 12/01/2022 15:33

Well done for standing up to this bullying OP.

An estate agent told me that for less than £10000, people act with integrity, but once people stand to save more than £10k, they act with zero integrity. Depressing, I wonder if it’s true.

If the house was at the bottom of your range and if you are in a rising seller’s market (I have no idea if you are), I’d be tempted to raise the price / go back on the market because of their behaviour.

Sweetpeasaremadeforbees · 12/01/2022 15:39

Good on you for standing your ground OP, that is nasty behaviour.

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.

When we sold our house, because the buyers had been reasonable we cleaned it thoroughly after we'd moved out, left a bottle of wine, the usual takeaway menus, a folder of user manuals for appliances etc. Had they tried to fuck us over none of that would have happened and I'd have explained to our neighbours what they had done.

So whilst some might consider it simply a business transaction, it might have consequences for them.

MorningStarling · 12/01/2022 15:40

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

To answer this question, to some people £25,000 is a hell of a lot of money. That's substantially more than I take home in a year. For the equivalent of more than a year's salary a lot of people would act in a manner that is perfectly legal if ethically wrong.

The system is broken but it's no surprise that people play it to their advantage. I suspect your buyers knew they wouldn't get £25,000 off but that's their starting point for renegotiation, knowing you need to sell they probably think they'll get at least £10,000 off just to get it over and done with.

Of course the system screws buyers over as well. It all depends which side has the power over the other, who is willing or able to walk away from the deal.

itwasntaparty · 12/01/2022 15:43

Put it back on the market, now. Your circumstances are nothing to your buyer though.

MorningStarling · 12/01/2022 15:43

@Sweetpeasaremadeforbees

Good on you for standing your ground OP, that is nasty behaviour.

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.

When we sold our house, because the buyers had been reasonable we cleaned it thoroughly after we'd moved out, left a bottle of wine, the usual takeaway menus, a folder of user manuals for appliances etc. Had they tried to fuck us over none of that would have happened and I'd have explained to our neighbours what they had done.

So whilst some might consider it simply a business transaction, it might have consequences for them.

A lot of people would rather have the £25k and download user manuals from the internet. Whenever I've moved into a new place I've always given it a thorough clean even if the previous occupant had left it in a good condition.

I take your point though, if people muck me around I'm not going to do anything beyond the bare minimum. I remember once someone getting a "great deal" on a house but they'd clearly pissed off the buyer because anything that could be removed before they left had been, door handles included.

PrincessPaws · 12/01/2022 15:45

@Memberhere

Can anyone with experience or any mortgage advisors tell me how it is when you haven’t worked for a while and found employment 6 months contract is it possible to get a mortgage? And will long term unemployment disqualify you from mortgages?

Work contract is contractor under an umbrella company.

What’s confusing is when you’re under an umbrella company are you not an employee of them and would have to fill your mortgage application as an employee or you choose the option “contractor” when asked?

That is quiet confusing

If you can recommend any mortgage advisor that has worked with similar cases would be great

I know that someone banks will lend with only a contract but does long term unemployment affect those rules?

You probably want to start your own thread
Puzzledandpissedoff · 12/01/2022 15:47

I'm only surprised they didn't wait until the actual day of excahnge, but well done for saying no; hard as it is, it's the only thing which will stamp out this horrible practice

BTW I also agree about keeping your reasons for moving to yourself, in particular the bit about wanting to be mortgage free. Unfortunately that's enough for these kind of tossers to put you down as "rich bastards ripe for the plucking"

DrSbaitso · 12/01/2022 15:48

@sillysmiles

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.

I partly agree with this. The seller's personal circumstances aren't their problem and nobody should be expected to make such a massive financial and life changing commitment to please someone else. It isn't personal.

But I do also think gazundering and gazumping are innately arseholish, even if the law allows them. It is a terrible flaw in the system and makes things so stressful. If this was all stuff they already knew about, you're not wrong to be upset.

DogInATent · 12/01/2022 15:57

Do not take the house off the market until you've exchanged contracts.
The sign stays up (without an 'under offer')
It continues to be advertised.

The EA won't like it, but you need to remind them they're working for you. The system is broken, you need to work with the breaks.

Get it back on the market as soon as possible. Leave it there until they exchange. Give them until noon next Friday to exchange or the price goes up by £10k.

Original poster
MrsBaublesDylan · 12/01/2022 15:57

The buyers know our personal circs because they asked why we were moving and we were honest.

We are selling because since we bought the house, I have become unable to work because I have a disabled child.

The flat is one of 27, most of which are owned by investors or the HA. It could be years before another comes up. It is 100k cheaper than any other flat on the market within a 30m radius and has 3/4 bedrooms.

If we loose it we are fucked. I wasn't asking them to be extra nice to us. Just to be a decent human being.

Of course anyone can screw you over for cash. But the house is worth it's value, as confirmed by their mortgage lenders and we are two weeks from exchange.

We will probably loose the flat now unless we can get some kind of loan.

I am sick of trying. I just want to go to bed and sleep until it's all over.

OP posts:
Sweetpeasaremadeforbees · 12/01/2022 15:57

A lot of people would rather have the £25k and download user manuals from the internet.

That's true today but this was over 15 years ago! Grin

Hotyogahotchoc · 12/01/2022 15:58

Maybe they had a change in circumstances