Buyer screwed us over today

[MrsBaublesDylan]

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 I am crossing everything for you for it to all go through

It's not only first time buyers. Ours wanted to replace the boiler, kitchen and two vathrooms, and take a walk down. All at our expense, obviously. I held out and we got within one percent of the asking price.

...wall...

Sorry but I'd rather 25k in my pocket than anyone else's whatever their circs. Thats just human nature. 25k is a lot of money for most people. It's a business transaction not a charity so peoples personal circs don't come into play. I am sure you wouldn't have accepted a lower figure if you weren't in a rush to sell. Good luck on your house move though, I hope it works out for you.

Sorry about your stress levels. However, you do need to realise a survey isn’t about essential repairs but about repairs (and often potential ones because if they surveyor can’t be certain, then he/she will list it as possible need just to cover themselves.)

So if you do need to find buyers, you should get a few Indepenent quotes from builders on what you know the next survey will highlight and have that ready to negotiate on price.

The housing market is brutal in this country, and the slow pace to complete transactions adds to the the problems.

I'm sorry you're having to sell and having a difficult time, but tbf, you also you don't know their extenuating circumstances. They may just be arseholes, trying it on'; they could believe the house isn't worth what they originally offered (although they should have said so 2 months ago if they're basing it on their inspections); or they could have lost an income.

Regardless, you are within your rights to say no and relist the house; glad you've told them that's what you're going to do. Good luck.

Thanks to those who have been understanding.

The EA hasn't heard back from them and will ring at 4.45pm to double check their answer.

I think they're gone and we will loose our onward purchase. We have no family to help us and I don't know what will come of it all.

I am going to come off this thread now because it is hard to read some of these posts and I feel emotionally shattered.

Glad you refused to give in to them and absolutely agree that there are some awful folk out there (have had a couple of similar experiences house buying and selling over the years).

@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.

Just because something is legal, it doesn't mean its ethical or make it okay. This is a shitty thing to do to another person. It being legal doesn't make it less shitty.

Well done telling them No.

Our buyer did the same with a house before he viewed our house. Apparently demanded £30 K reduction, the owner told him where to go. 6 months later he tried the same with us and we said No. also told him that if we lost the house we wanted we would never sell to him.

Some people are just vile and shameless.

My neighbour who is a millionaire many times over has been bragging to me how he bought a second hand ride-on mower for a tenth of its true value from an old woman "who obviously needed the cash and didn't know how good the mower was". What a horrible bastard. I estimate the percentage of immoral, dishonourable nasty people to be about 10% of the population now, or more.

Scumbags.

Good luck OP. Everything crossed they were trying their luck and still proceed. Horrible what they are doing.

Oh OP I'm so sorry.

If you haven't already, tell the EA to get the house back on the market asap.

Fingers crossed.

Christ, stop going on about the personal circumstances sharing and the 'rather 25k in my pocket' bollocks.

I am 48 and this is the fourth house I've bought and sold. I appreciate you are fucking geniuses, but this is currently unbearable for me.

I am in this situation because I have a disabled child and buyers with no moral fibre. Not because I fell off the fucking Ark yesterday.

Thanks for the last few msgs - you guys seem to get it. We are proper fucked now and there is a strong chance we will loose our home.

My buyers tried to do this to me a couple of weeks before completion, except they didn’t bother getting a survey.

I was away on holiday at the time, which I think they knew. I could have done without the stress then.

Luckily, as I wasn’t in a hurry to move, I was able to tell the buyers to eff off. They gave in and paid the price agreed.

A few months after the buyers moved in, the estate agent phoned me on their behalf. They were having a bit of an emergency. Water was pouring into the property from the flat above and they couldn’t get hold of the owner. Did I have a phone no. for him? As it happened, I genuinely didn’t. What a shame

People are such arseholes when it comes to buying a house. Our last buyer was just awful, seriously had us tearing our hair out. Horrible man.

Just because you have been upfront about your personal circumstances (which definitely has its downfalls!) doesn't mean you know everything about your buyers personal or financial circumstances.

What they have done does look shitty to me, but your personal circumstances don't trump theirs and you don't actually know what has happened behind the scenes.

If they really wanted to do you over, they'd have done this at exchange!

If it was me, I'd pull out and relist. If I can't trust the buyer now, I don't trust they wouldn't do it again upon exchange.

Sorry @MrsBaublesDylan, cross-posted.

As it’s a sellers’ market, fingers crossed the buyers will give in.

That's a really horrible situation to be in. Some people are really awful. Is there any negotiation you could do which would mean you didn't lose your house?

That does sound like a terrible situation. Would agree with PP - have you any room for negotiation, hard as it might be to swallow it?

I’m so sorry you’re having a hard time op, fingers crossed they still go ahead.

But also, I don’t think they are definitely gone. They are trying it on and I think they might still go ahead as they’ve got so far down the line. Everything crossed for you OP.

I hope it all works out for you. There is still every possibility that it will.