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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:
rifling · 12/01/2022 18:07

I'm so sorry. This happened to my brother and he said no - and also said he wouldn't sell it to them in any case now as he did not trust them.

Nailsbythesea · 12/01/2022 18:08

Change agent and do not let the new one know that your circumstances.

Give your agent merry hell (the current one) as well -cheecky fuckers £25K less -house prices are going up not down!

Nidan2Sandan · 12/01/2022 18:09

We got a mortgage despite me having just paid off a DMP more weeks before hand. All we had to do is explain to the bank why we had it in the first place and confirm its has been cleared. I just explained that after having our 3rd child and my husband moving jobs so a reduction in income we struggled.

It was fine, so dont discount a mortgage based on the dmp.

mumshouse · 12/01/2022 18:11

Best of luck getting a buyer quickly!

EmmaH2022 · 12/01/2022 18:11

So sorry this happened to you OP Flowers
Absolute evil gits.

TulipsfromAmsterdam · 12/01/2022 18:16

Good luck. Hope you find a buyer really quickly and the flat vendor can wait.
House buying and selling is so much more than a business transaction and there is naturally a lot of emotion involved especially when it is a home for your family. There are lots of genuine buyers and I hope your next one is.

FireworkParrot · 12/01/2022 18:16

OP this happened to us, FTB pulled out right before exchange quoting some non issue that our EA and solicitor went mental over. It was clear they got cold feet and were just coming up with any old excuse. We were desperate to move to be closer to my very ill and disabled MIL and the buyer knew that, absolute cow that she was.

However, our next buyer was a dream and although it took another couple of months everything sailed through, no messing around. Hopefully you get the same outcome OP.

CatkinToadflax · 12/01/2022 18:22

Flowers what horrible people. I’m so sorry OP and hope you get a buyer with morals very quickly.

We too have a child with a disability and we had to move areas due to his schooling. Our buyers knew this because they were renting in our village and she even worked at the school we were leaving, so they knew full well the date we had to move and that we were moving into rented and had to sell our house as quickly as possible. They mucked us around endlessly, dropped the price TWICE and were just thoroughly nasty throughout the process. And we knew them, at least to say hello to, and had multiple friends in common! It was utterly baffling how nasty they were. In retaliation we didn’t fix the leak on the flat roof and didn’t leave them the details of the best person to fix it.

Everything crossed for you that you sell to people with morals very soon.

Thurlow · 12/01/2022 18:25

I'm so sorry, I remember hanging on to find put if our buyers were pulling out and it's the worst. Now you know, have a MASSIVE pity party tonight, and get back on to your estate agent tomorrow.

Broads93 · 12/01/2022 18:28

54MrsBaublesDylan - I live in an ordinary house/area where the average price is around 150k for a 2-3 bedroom. Live across the road from a standard "ok" high-school.
I understand you're hurt by this but it's just business, they don't understand your struggles because it isn't their struggle. Like I said, moneys cold.

Hugasauras · 12/01/2022 18:31

Sorry, OP. I'm always amazed (in a bad way) by the English house-buying system. I'm in Scotland but we had to sell MIL's house in England a few years ago and the process was just ridiculous. It doesn't seem fit for purpose at all Sad

Zilla1 · 12/01/2022 18:37

Fingers crossed you get lots of immediate interest and a price bump from competition amongst cash buyers.

Good luck.

OnlyAFleshWound · 12/01/2022 18:43

@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.

'Business transaction' isn't a get-out clause for behaving in a shitty, unethical, dishonest way. Not if you run a business properly.

It sounds a bit like you think it's OK to treat people like crap as long as money is involved.

Battytwatty · 12/01/2022 18:44

@Nailsbythesea. Give the agents merry hell for what?? It’s the buyers who have pulled out. Nothing to do with the agents

Whatayear81 · 12/01/2022 18:44

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

You did a bit more than give them the basics

You actually told them you were having financial difficulties and clearly desperate to move with a disabled child

Bloody hell op
Wise up

OnlyAFleshWound · 12/01/2022 18:45

@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.

It's not OK to treat people like shit as long as you can make money out of it.

You do know that, right?

Or do you think this is in any way OK?

Zilla1 · 12/01/2022 18:46

Don't be surprised if the original buyers return with a low ball offer or, if they want the property, reengage when they see you have relisted.

Mumoftwo1990 · 12/01/2022 18:46

@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.

I work in an EA and I always tell people to not get home buyers because they're going to drag the house when it's fine. But this is where your EA is going to be tough and they clearly still want the house. Just hold firm and I hope it works out for you.
Joxster · 12/01/2022 18:48

Absolutely horrified by the people who think it’s ok to screw someone else over for money.

This happened to us OP, with out third buyer; our first two had their mortgages fall through at the height of lockdown. Day of exchange they dropped their offer by 10k. I’m sad to say we swallowed it, and borrowed money from family to cover the gap. We were lucky to be able to do that but it was so awful.

I hope it works out for you.

Flowers500 · 12/01/2022 18:48

So sorry about what happened, you're doing amazingly and it will all come right in the end.

Nailsbythesea · 12/01/2022 18:51

[quote Battytwatty]@Nailsbythesea. Give the agents merry hell for what?? It’s the buyers who have pulled out. Nothing to do with the agents[/quote]
The agents should have secured the offer. And have a secure buyer. The buyer shouldn’t be waiting and sitting two months on a house report. The agent should have been chasing them constantly to get exchange happened - two months!!

Nailsbythesea · 12/01/2022 18:52

Also wouldn’t put it past the buyer wobbling and the agent saying you can ask them to drop they are desperate

Paranoidandroidmarvin · 12/01/2022 18:52

I’m sorry. That’s an awful thing to have happened. Just moved house so I know how stressful it is

SilverPeacock · 12/01/2022 19:04

Similar thing happened to us once. It's horrible. You have my sympathies OP.

Flowers500 · 12/01/2022 19:04

@Nailsbythesea what do you honestly expect the estate agents to do??? They secured a buyer, the buyer had their report done, mortgage secured, the mini chain ready to go. The buyer changing their mind is not their fault, if this is their first sign of flakiness. There are a lot of people who can tell you that sudden changes of mind in house buying are not unusual. The estate agents (working for OP) are not going to be encouraging them to drop their offer and threaten the chain unless they've literally said they're pulling out--in which case they are right to take the best offer left on the table to the OP, it's literally their job.

Yes agents should vet people fully, sound them out, etc. But you can't fault them because they haven't invented mind-reading technology!!