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Original poster

Successful renegotiating of price after offer accepted

66 replies

PhoenixxRising · 21/07/2022 10:18

My offer was accepted by a seller who is in a chain. I will ask for a reduced price just before the exchange of contracts. I don’t have much to lose as I’m currently renting, and my solicitors won’t charge me anything until completion. My only cost would be the search fees, but I can live with that.

I want to hear from people who were able to successfully renegotiate the price. What’s the usual percentage you were able to renegotiate? What’s the best timing for doing this?

My arguments for doing this will be that the market feels now very weak with the rising interest rates. My inner motive is that if the greedy seller wants to sell to me something that was worth 20% less just two years ago, I can do the same to him. So please no moral bashings here, I’m not interested in that at all.

OP posts:
kirinm · 21/07/2022 10:20

Is this a troll thread?

If you think you're going to get any positive responses, you're deluded.

AM130674 · 21/07/2022 10:23

Wow! 😳

Glitteratitar · 21/07/2022 10:24

Are you actually serious? Why play games?

LoopyGremlin · 21/07/2022 10:25

It’s not the seller’s fault the property values have risen! Not sure how that can be classed as greedy.

viques · 21/07/2022 10:26

I think you should wait until the very last moment…..

but remember in a few years when you are a seller that karma has a habit of biting back .

Just make your offer now and stop playing silly bugger games. If you think the property is overpriced then more fool you for putting in a higher offer.

Original poster
PhoenixxRising · 21/07/2022 10:27

Why am I actually serious? Because that 20% can go to my family, and not to someone who saw his property go up 200% in the last couple of years. Is that not clear?

OP posts:
Mildura · 21/07/2022 10:28

You cannot be serious?!

Ammonites · 21/07/2022 10:29

Why did you make an offer when you say the property is over priced.

Denny53 · 21/07/2022 10:30

What a lovely person you are NOT! as if selling a house especially if you are in the middle of a chain is not stressful enough?? Why would you do that? Why wait until just before exchange of contracts unless to cause as much distress to others as possible What a nasty person you are!

kirinm · 21/07/2022 10:30

Offering a figure to secure the property when your intention is to mess around, makes you a dick. Buy another house if you don't want to pay the price you offered. I really hope your solicitor charges you ££££ land then the seller tells you to do one.

kirinm · 21/07/2022 10:30

This reply has been deleted

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CrotchetyQuaver · 21/07/2022 10:32

Wow just wow.

Hope your seller tells you to get lost. You agreed a deal and everyone's proceeded on that basis.

Do as you would be done by as the saying goes. I hope one day you will be on the receiving end of this behaviour and have cause to reflect on your actions in the past and the ram.

ilovetomatoes · 21/07/2022 10:34

I hope the seller refuses and you end up paying a higher price for a worse property as well as taking ages so you end up paying loads more rent. You knew the price, made an offer and now want to play games with someone’s life? You deserve a moral bashing because what you are doing is immoral.

londonlass71 · 21/07/2022 10:35

Wow. It may have been less 2 years ago but you aren't buying 2 years ago you're buying now. If the house wasn't valued under what you offered you'll have a hard time. I don't know anyone who has been successful at renegotiating unless the survey valuation came back less than the offer.

Flump9 · 21/07/2022 10:35

After the seller has rightly told you to sod off remember the estate agent won't want to sell any other houses to you cos they know you're a time waster.

OnlyFoolsnMothers · 21/07/2022 10:36

haha! nice one OP- no one is that malicious and ignorant.

Oh and when you come to sell your home I'm sure you'll be keen to cap any rise in worth

Isseywith3witchycats · 21/07/2022 10:37

why is he greedy we bought our house three years ago for a certain price and now three years ago houses in our street have gone up 20k in price and they are all the same type of houses thats not greed thats just the market, having had a buyer pull out on exchange day i would tell you to piss off and put my house back on the market, ring all the local estate agents and tell them what you did and by the time you find another seller to mess around the house prices will have gone up again any way so pointless exercise meanwhile your still paying rent each month so that negates the money you think you will save on doing over a seller

RainbowsMoonbeams · 21/07/2022 10:38

Prepare for your plan to backfire, OP.

Sistanotcista · 21/07/2022 10:39

Morally it may be wrong, but there are loads of threads on here about sellers messing buyers around. This happens on both sides of the purchase. I don't know why the UK doesn't bring in fairer, tighter rules for both the sale and purchase of property.

OP - morally it's wrong, but legally you are in the clear, and it seems like you have nothing to lose by trying, especially if you are prepared to walk away from the property.

ScarlettnotOHara · 21/07/2022 10:41

I really hope that your reduced offer gets rejected and they choose someone else to sell it too !! Dirty game playing 😞

OnlyFoolsnMothers · 21/07/2022 10:42

it seems like you have nothing to lose by trying depends on the seller, personally I'd treat such requests with contempt and prob pull out or up the price.

kirinm · 21/07/2022 10:42

PhoenixxRising · 21/07/2022 10:18

My offer was accepted by a seller who is in a chain. I will ask for a reduced price just before the exchange of contracts. I don’t have much to lose as I’m currently renting, and my solicitors won’t charge me anything until completion. My only cost would be the search fees, but I can live with that.

I want to hear from people who were able to successfully renegotiate the price. What’s the usual percentage you were able to renegotiate? What’s the best timing for doing this?

My arguments for doing this will be that the market feels now very weak with the rising interest rates. My inner motive is that if the greedy seller wants to sell to me something that was worth 20% less just two years ago, I can do the same to him. So please no moral bashings here, I’m not interested in that at all.

You'll pay for searches and a survey whether you like it or not.

GCAcademic · 21/07/2022 10:43

Presumably your “greedy” seller is also having to pay a lot more for the house they’re buying than they would have paid two years ago. You don’t think they’ve unilaterally set the market price, do you?

Original poster
PhoenixxRising · 21/07/2022 10:48

I'm serious as cancer and I'm sure all the comments here about how immoral this is are coming from people with vested interest, i.e. homeowners. I can't imagine a first-time buyer complaining about how immoral the price renegotiating will be. Greedy sellers and homeowners...

OP posts:
ScarlettnotOHara · 21/07/2022 10:56

@PhoenixxRising wow what a nasty piece of work you are ! As serious as cancer, what a remark !! You will soon get a reputation as the pathetic would be house buyer who likes to play games !! May you reap what you sow ! Good luck you’re going to need it 😂