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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:
NinaDefoe · 12/01/2022 19:13

It’s a seller’s market here. Nothing for sale and people are queuing up for properties.

Put it back on the market. You will sell OP. Have courage!

ineedsun · 12/01/2022 19:14

@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.

Money is emotionless when you have it. When you’re struggling it absolutely isn’t.

Anyone who behaves like these ‘buyers’ is on a par with rogue traders who con vulnerable people to my mind.

Honeyroar · 12/01/2022 19:18

Fingers crossed for you OP. I hope a new buyer comes along really soon.

Hellosunshine1234 · 12/01/2022 19:21

Good luck OP. Selling a house is so stressful and I can’t imagine how much harder it must be in your circumstances. I hope you find a new buyer quickly so that you can still buy the flat, keeping my fingers crossed for you!

DrSbaitso · 12/01/2022 19:24

It seems to be a seller's market everywhere right now...there's a good chance of finding another buyer quickly.

QueenJeanie · 12/01/2022 19:25

Wishing you lots of luck OP

This is so shitty

Fingers crossed for a really quick and easy re sale Thanks

GloriaSicTransitMundi · 12/01/2022 19:28

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

Bloody hell op
Wise up

Wow, hope you're never in a horrible situation and reaching out for help and understanding @Whatayear81 - pretty rotten thing to say to someone who's struggling and in despair! Good luck OP, fingers crossed tomorrow will bring better news.

AliceS1994 · 12/01/2022 19:28

Unfortunately this is a really normal and common thing to do. Doesn't mean it's not awful and upsetting though and I feel for you, it's really crap. Make it clear to your estate agent your current circumstances with your refusal and ask them to pass it on, if they're going to pull this move it's only right they see the consequences of their actions!

Seren20 · 12/01/2022 19:34

So sorry this is happening to you OP. They are complete shits for behaving in this way especially given the circumstances with your child. I hope you find better buyers soon.

Nocutenamesleft · 12/01/2022 19:36

This is probably stupid

But I was really sick as a child. My mother is my hero. She trie her very best but we ended up in a situation and eventually my mother couldn’t afford for both of us to eat each day.

In the end we ended up homeless. With no food. Starving. I was in a wheelchair. My mum sat on the council steps for 4 days. They finally found us this tiny room which was on the top floor (with no lift) so I couldn’t get down so we lived in this room. We shared a bathroom with 10 other people.

We lived there for 2 years, it was hard. But we were together.

My mother can’t talk about those days but I’ve been at the absolute lowest and I survived. I know I can cope with no tv. No jeering. No electricity. No gas. No car. No roof.

Because of that I know how hard it was on my mum. She wanted to give me everything. But she gave me everything. Not a lot material. But she gave me more than enough emotionally and she’s still my absolute hero!! My role model

Your kids will probably think the same of you x

ilovesushi · 12/01/2022 19:38

That's awful! We had a similar situation with our buyers some years ago. We held out for a week but then agreed to the price reduction. I would have held out longer, but my husband was incredibly stressed by it and just wanted to get on with the move. We too couldn't afford to hang about for financial and family reasons. Hope you can work this out.

MadeForThis · 12/01/2022 19:40

Fingers crossed that your sellers can wait for you to find a new buyer.

theNumbersStation · 12/01/2022 19:42

@Nocutenamesleft

It isn’t silly. It is beautiful.

If the only thing we take from our childhoods is love when times are hard down our roads, then our mams have given us everything.

BonnesVacances · 12/01/2022 19:44

I'm sorry OP. Sad I had to give up my job because DD became disabled through illness. I was working full time as DC were teenagers at the time. Our income halved overnight.

It's sad that a dog eat dog world is more prevalent than compassion and decency. Some people just don't get it.

I hope you find your new buyer in time to keep your new place.

RampantIvy · 12/01/2022 19:47

@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.

Wow! Was that really necessary @Broads93 ? Hmm Have you actually bothered to read why the OP wanted to move?

Why not kick someone when they are down. You are really lacking in empathy. You should be ashamed of yourself.

MadameHomais · 12/01/2022 19:47

Nocutenamesleft

It’s not stupid to tell us your experience.
I found it heartwarming and reassuring.
I am sorry that you and your mum had to go through such a difficult time.

TequilaBlaze · 12/01/2022 19:54

@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 just numbers on a spreadsheet; you do know that, don't you? It's a family's home. It's security. You have no idea.
Gazelda · 12/01/2022 20:01

@Whatayear81

*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

Seriously? Do you think that was helpful, compassionate or kind? Or news to the OP, who's read similar comments endless times on this thread.

If I'd written your words and then reflected, I'd feel I should apologise to the OP. But it's up to you...

DaddyPhD · 12/01/2022 20:02

@MrsBaublesDylan

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.

25K is ONLY acceptable when you're horse trading at the higher end of the market, like million+ end.

When I was selling our place a few years ago, a FTB did this and we told them to do one. On principle I wouldn't sell to scum like this, I have never tried to gazunder and never would, unless some bombshell was revealed weeks before exchange,

The estate agent was desperate to keep the sale, I think they even went round to see them, as they came back a couple of weeks later with a revised offer, (still not as high as the one I accepted) and I coldly said I had received an offer and accepted ( I hadn't but I did a week later).

Goatsaregreat · 12/01/2022 20:16

So sorry baubles. And sorry about some of the thoughtless posts on your thread.
I really hope that you get some positive news - sounds as if you deserve a break. Flowers

DaddyPhD · 12/01/2022 20:17

@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.

Bollocks

People who gazunder are absolute toe rag scum. They were time-wasters and the market is full of them, idiots who watch Homes under the hammer and Location Location Location and think property should only be purchased for below market value - and resort to gazundering to achieve it. Which is complete bollocks for normal residential sales. Even for sellers who are desperate to sell, the property is unusual or in some sort of weird area, made of concrete, this should be agreed on the sold agreed price. END OF.

Gazundering is fuck all to do with business. I worked in investment banking when I first left Uni and if a trader offers to buy XYZ of bonds and on settlement day pulls some crap about the price, they would lose all credibility and probably get kicked off their desk , gazundering for a legit reason ( you find out a clause it can't ever be let out or something) fair enough, trying it on for the sake of it, you're just a prick.

Sorry for my French, but @Broads93 no-one defends gazundering

Ruralbliss · 12/01/2022 20:17

This exact same thing happened to us a couple of months ago on the eve of exchange of contracts. They referenced 'remediation works showing up in the survey' which when I asked for details of the just pulled out completely.

I also believe they or one of the pair had got cold feet.

Utter ruthless bastards to do that after so many months & pounds spent on our onwards purchase. An entire 5 bed house completely packed and like you a disabled kid.

We lost the house we'd been on the verge of buying & moving into by a whisker as they remarketed & got a new buyer 14 days later.

I had to unpack loads of stuff to make house presentable for viewings again, had 20+ families through our doors then 15 days had a new lovely buyer.

Just a couple of weeks ago the original sellers of our onwards purchase came back to us as their new buyers had pulled out.

Maybe you can get your agent to convince the sellers of your onwards purchase to wait a few weeks for you to re-sell?

I'm so sorry. It's completely horrendous.

For me who desks with so much stress and unexpected stuff all the time it hit me very hard. It was like a death/grief. I couldn't function. Was awful time.

CharlotteGoldenblattYork · 12/01/2022 20:17

I'm so sorry, OP. The buyers are arseholes. Hope you soon sell the house again, I'm sure you will.

FurierTransform · 12/01/2022 20:31

Am I missing something - they've done this a few weeks before exchange? Yes they've sat on the report, maybe getting advice, who knows, but I wouldn't say it's a total asshole move - that would be waiting to the day before exchange before hitting you with the reduction.

CheesecakeAddict · 12/01/2022 20:34

Just to give another slant on things, when I bought my house a little over a year ago, and it was an obvious doer-upper when I viewed the property and put an offer on it, the bank signed off on the value via desk-top valuation etc. and all progressed well. I got my survey back which said there was significant damage to various aspects of the house, which given the age of the property and viewing I expecting (e.g. roof, chimney, joists, repointing, damp-proofing etc), ultimately the surveyors estimated the value of the property to be just shy of 50k less than what I was paying. This got back to my bank (through the solicitors I am guessing?) who retracted their mortgage offer and said they would only offer me the new estimated price. The homeowners were pissed off but I would have paid what I had offered but it was at a time when it was near impossible to get a mortgage as a FTB and there were so many extra hoops to jump through so I had the choice of asking or pulling out.

They might just be arseholes, but there might also have been another reason behind why it took them so long.