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Buyer reducing offer - WWYD

30 replies

SeptemberSon · 16/09/2022 14:51

Short chain of three. Ours are FTBs. Our sellers are divorcing and moving into rented.

All offers agreed in July - our buyers were the first to see and offered asking price to ensure it didn't go on the market. Things moving along happily since then.

Today, we get an email from the estate agent. They want to reduce offer by £12k (they offered £340k and want to reduce to £328k). This is on the basis that their builder - not survey - has identified defects. These are rendering at the rear of the property being blown, windows need replacing as are old and felt roof on bathroom extension is defective.

They're not - they're absolutely fine. No leaking or defects anywhere. We're happy to reduce by £3k for the rendering issue but no more.

Is this fair? Are we being too hard nosed or are they trying it on??

OP posts:
2bazookas · 18/09/2022 12:32

They are trying it on. Time to play hardball.

Do not engage in anypersonal communications with the buyers.

Instruct Agent you will not reduce price and instruct to immediately re-advertise property as before.

Instruct your lawyer to contact the buyers lawyer seeking formal confirmation they don't intend to proceed with the agreed contract.

TooMuchToDoTooLittleInclination · 18/09/2022 12:34

@SeptemberSon

sorry I didn't see your update before I posted.

I think you've done the right thing.

I don't think they're necessarily CF, they're nervous FTB's. Most FTB are nervous anyway & generally have family & friends making them question absolutely everything (understandable) and with CoL & interest rates and talks of house prices dropping it's not wonder they're especially nervous right now.

they seem keen on your house, sometimes they just need to 'have a go' at 'getting a better deal' to feel they've done as well as they can & move on feeling confident!

I hope you hear back soon! It's not good for the nerves.

SeptemberSon · 21/09/2022 16:03

UPDATE.........They accepted the £3k reduction, were apparently 'very appreciative' and we're now full steam ahead. Jesus, buying and selling houses is bloody stressful!

OP posts:
RedBonnet · 21/09/2022 19:30

I think the builder is her dad...

I knew someone with a builder dad who caused her months of bother interfering in her house purchase

millefeuille2 · 22/09/2022 08:15

Hooray! Really pleased that it's all worked out for you OP

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