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.

Our buyers did this 48 hours before exchange. Dropped price by 20k. We had a feeling they would pull some stunt and last moment (and we did tell EAs to pass on message we would not budge - I’m sure they didn’t). The problem is it was such a big amount we couldn’t take the hit. If they asked for 10K we’d of probably said 5k. Good for you for holding your guns.

I remember coming on mn for advice and that was advice as well. We told them we exchanged at asking price or we walked - of course they came back and said that’s fine.

I think some people just think this is “normal behaviour” in life. You always see if you can get a bit more/chance your luck.

@MrsBaublesDylan

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.

Well said!!!

I'm so sorry OP

Op that is dreadful. I am so sorry you are experiencing this. I moved last year and was really messed about by first time buyers.

It is so difficult to take the emotion out of it. I feel the rage in your behalf.

I had four offers fall though. But got there in the end and was really lucky they the seller of the house I was buying stuck with me and waited when the house went back on the market.

She was open and honest, and so was I. Unfortunately not everyone is.

I had a buyer bid prices way way up. Got sale agreed, going through the motions then their dad decided they shouldn’t pay over asking! So the house went back int he market and I lost two months.

Not as bad as you but I feel your pain.

I work in conveyancing in Scotland - this would be against the law without a very very good reason - it is gazundering and their solicitor would no longer able to act on their behalf. Same with gazumping - just doesn't happen because all parties would have to withdraw from acting. People up here are under stress enough, I feel sorry for people in England trying to buy and sell - seems like you can be totally screwed over at the drop of a hat.

It's a business transaction. House buying is a dog eat dog World, you're trying to make money and they're trying to save.

They have no loyalty to you, nor do you to them. Why do people take things so personally these days?

I'm really sorry about your situation but it's not personal, money is emotionless.

@Broads93

It's a business transaction. House buying is a dog eat dog World, you're trying to make money and they're trying to save.

They have no loyalty to you, nor do you to them. Why do people take things so personally these days?

I'm really sorry about your situation but it's not personal, money is emotionless.

How cold. Was that really necessary?? Have you actually read the thread? If you had you'd know what a horrible position this has put OP & her husband in.

Little update - EA called buyers and they are out. I think they had doubts
And their parents offered them money, which meant they only wanted our house if it was an absolute steal.

House is back in the market for 5k less and EA are negotiating with flat EA to reassure them we will have a buyer asap.

Our prev buyers can sell their HB report and searches to next buyers so that should speed up the process.

I have just had a good teenage sobbing session in the bathroom and while my eyes resemble frogs spawn, I actually feel a bit better.

Sometimes it's easier to cope once the worst has happened. I am generally resilient during a disaster, but hysterical when it's still a possibility

Thanks for all those who have written nice words and listened to me this afternoon. Your company and support has got me through

@Broads93

It's a business transaction. House buying is a dog eat dog World, you're trying to make money and they're trying to save.

They have no loyalty to you, nor do you to them. Why do people take things so personally these days?

I'm really sorry about your situation but it's not personal, money is emotionless.

I'm thinking your probably have a very nice house, next to an outstanding grammar and no disabled kids?

Or you just don't give a shit?

This happened to me - they came back with the same offer having discussed it. I said I didn’t want to sell it to them. They then rang for another viewing. I again said no.

Sometimes you have to stand firm.

I’m surprised it’s gone in for a lower value - it maybe that you get an increased offer anyway -

I hope it all works out with another seller and a higher price.

And I'm not trying to make money - I'm trying to keep a roof over my family's head.

You are right. It is easier dealing with actualities than the unknown.

Onwards and upwards sweet. And all being well, your next buyers won’t be inconsiderate and cheeky flakes.

If they come a-sniffing at the £5k less, I hope you tell them to poke it.

Dry your eyes, have a brew and find your feet. All is not lost.

Good luck OP. I’m wishing you well.

I’m sorry OP, I hope karma comes for them

I'm really sorry that you got that news. It's a really nasty thing to do and completely unrealistic to expect you to drop £25k on a homebuyers report of two months ago etc.

But as you say, at least you know now.

Sometimes FTB really are not worth the hassle as they can just be too unrealistic in the entire process.

Fingers crossed that you get some decent buyers immediately and that everything can still progress for you.

Sounds incredibly stressful for you. Good luck OP

Wow, people can be horrible OP. Good luck OP, hope the next time is much easier and more pleasant for you x

The English system is a complete mess. I think it’s in Spain where the buyer pays a 10% deposit which is kept on hold when their offer is accepted. If they pull out they lose that 10% and it goes to the seller. If the seller pulls out they have to pay the buyer 10%. Stops all this shenanigans.

Hope you get another buyer asap, keep us posted!

I think it gets a boost on Right Move if there has been a reduction in price? I dunno though.

The house is a tricky sell because most of the houses on the road have been split up into bedsits and it has a small back yard.

It is not the best area but it is a solid, big, end of terrace with well proportioned rooms.

Its a business transaction

In my experience nobody wants to do business with people like this. We aren’t talking about a fair negotiation at the point of offer, it’s holding people to ransom. It happened to us and unfortunately we had to give way in order not to lose our new home.

Local EAs won’t be impressed either and won’t be especially helpful in helping them with another purchase.

OP I know it kills but perhaps there is scope to meet them halfway and take out a tiny mortgage to cover the loss?

Good luck. I’ve sent them a hex.

You poor thing, it’s still a sellers market OP, you will have a new buyer very soon I am sure. Sorry you have had this stress to deal with. Wishing you lots of luck

Aww @MrsBaublesDylan I’m really sorry. Wallow for tonight, then onwards and upwards tomorrow - focus your efforts on keeping hold of the flat as a viable option and try not to spend all the time wishing evil on the lost buyers (I say it because that’s what I’d do!). Worry about the things you can control and let other deal with the things you can’t. Fingers crossed it all works out for you.

It will refresh on Rightmove by dropping the price. It's still definitely worth looking into a bridging loan - you've got little to lose by applying for one to see how you get on. Sorry they did this to you and all the insensitive replies you've had.

So sorry. Tis shit and I hope karma bites them very hard on the arse, and finds you a buyer bloody pronto. There are some real twerps in the world.

I'm sorry too OP. I hope karma gets them.

Like another poster's dad, I worked for a complete tw£t who advocated knocking £10k off my offer just before exchange, 30 years ago when house prices in my area were only 5 figures. I refused because it's shit.

Hopefully there will be someone along who will push things through quickly and you will get your flat. May the former FTBs poo hedgehogs and walk evermore barefoot on Lego

Yes it's a business transaction but anyone decent will do their negotiating during the offers stage (that is what we do). Anyone who waits until the 11th hour has low morals.

I'll have my fingers crossed that you get another buyer asap. I'd also get your EA to send out an email notification of your house for any prospective buyers they have on their mailing list.