Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Buyers trying to reduce price 1 week before exchange.

103 replies

J6765 · 06/07/2022 07:03

Hi,

I am just after some advice please? We're selling our home and 1 week before completion our buyer have asked us to lower the price of the house by 2,500k. What would you do? We've currently told them no because we feel like they have had ample time to bring this up. They offered on our house late February and we had our offer accepted on new property at beginning of April.

Their communication has been poor throughout and will leave it weeks to come back with anything each time which has meant the process has gone on far longer than needed. We went with them because they are first time buyers so thought it would be fast.

They had a survey completed 5 weeks ago, still late in the day tbh. I asked the surveyor if there was anything that I needed to be worried about and he pointed out a problem with woodworm but said all other things were small. We have since paid to have this problem sorted.

A week after the surgery was completed buyers asked if they could send a family friend around to check gas and electrics which we told them no and said would have an independent person to look at them if needed. This went no further.

We are due to complete next week and yesterday I received an email with a list of demands and the proposed reduction. They stated survey had thrown up problems with chimney needing repointed, flat roof which needed refelted. They also asked about a peice of wood in the loft which has been cut. The wood in loft was cut long before we moved in and has been that way for at least 15 years. Neither of our roofs are leaking or in bad condition so we do not see this as urgent work.

Estate agents is trying to get us to compromise. I'm going to say no and send timeline if sale and explain that they need to give us a definite answer by tomorrow or we will relist.

I'm just a bit nervous they will walk away and we will lose our onward sale. Any help, advice would be greatly appreciated.

Are they just trying it on?

OP posts:
Snowflakes1122 · 07/07/2022 09:04

Glad to hear your update, OP.

Bloody chancers!

Cattenberg · 07/07/2022 09:25

J6765 · 06/07/2022 16:18

Hi, again thanks everyone who said stick to your guns and don't be bullied. Just had call to say they are going back to original offer and everything in place to complete next week. Yey!

Well done OP! It is nerve-wracking My first-time buyers also tried to gazunder me close to exchange. The estate agent thought I shouldn’t give in and she was right! She told the buyers that if they didn’t complete at the agreed price, the property would go back on the market for £5,000 more.

After that, the buyers said they assumed the white goods were included in the sale. If they’d read the paperwork, they would have known full well that they weren’t. I reiterated that they weren’t included, but offered to sell them at a reasonable price. Funnily enough, they weren’t interested.

The buyers next move was to insist that we completed immediately. That wasn’t quite possible as I couldn’t get a removal van until the following week, but we did complete ASAP. CFs, the pair of them!

upupstuck · 08/07/2022 10:35

OP - read this today and thought of you!

www.ft.com/content/0fab666e-86df-4094-b523-60b8cea62c5c

New posts on this thread. Refresh page