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Original poster

Buyers asking for £60k off just before exchange

415 replies

Loobydoobies · 14/08/2023 17:56

Just as the header says. Suddenly wrote us a long letter ranting about interest rates etc, and asking for a huge discount.

We live in an area where property is scarce and holding its value ATM due to that. Told agent to tell them where to go. I am furious as we will lose our dream home.

OP posts:
ZeldaWillTellYourFortune · 17/08/2023 13:46

Re market today so you can get viewings this weekend.

Hmindr68 · 17/08/2023 13:47

Oof. So sorry, I hope the remarketing goes quickly

Traxz · 17/08/2023 14:18

Loobydoobies · 17/08/2023 13:10

Still nothing...

stay strong!

Sameold23 · 17/08/2023 14:19

You'll have to get it back on.

Silvers11 · 17/08/2023 14:30

I would put it back on the market. Now today! And possibly with another EA if you are not happy with your current one?

Original poster
Loobydoobies · 17/08/2023 14:57

To make ourselves feel better, we have had an agent over to value this pm.

OP posts:
Silvers11 · 17/08/2023 14:59

@Loobydoobies - Well done. Will be interesting to see what they come up with.

Filament · 17/08/2023 15:00

Fingers crossed you find a new buyer quickly, or the previous one comes crawling back at the agreed price.

Trez1510 · 17/08/2023 15:09

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

YukoandHiro · 17/08/2023 15:10

It's a nightmare for you but a very sensible decision for them. The price drop is happening rapidly; they'll be shafted if they overpay

YukoandHiro · 17/08/2023 15:12

@Trez1510 why not just report it rather than derailing?

DrySherry · 17/08/2023 15:19

YukoandHiro · 17/08/2023 15:10

It's a nightmare for you but a very sensible decision for them. The price drop is happening rapidly; they'll be shafted if they overpay

Probably correct - but to try and deal with the issue of falling values right before the exchange is not on either really is it ?

Trez1510 · 17/08/2023 15:35

YukoandHiro · 17/08/2023 15:12

@Trez1510 why not just report it rather than derailing?

Possibly because I did spend most of yesterday dealing with CPTSD flashbacks and I'm really angry at the ignorance of people like the pp for minimising the reality of PTSD for its sufferers.

If my post prevents some other poster using the term to describe an upsetting, one-off event, that did not cause them to fear for their life, cause them to be brutalised and/or caused life (even personality) changing distress, then maybe, just maybe, I will do some small part to reduce/end the ignorant misuse of the term PTSD.

foolishone · 17/08/2023 15:44

YukoandHiro · 17/08/2023 15:12

@Trez1510 why not just report it rather than derailing?

It's a staggeringly ignorant thing to say tbf.

NyanBinaryJohn · 17/08/2023 15:51

Whilst I have empathy, @Trez1510, who are you to say that the stress didn't lead that particular poster to having a severe mental breakdown? You cannot possibly know based on the information provided. So yes, you should have reported instead of derailing the thread.

OP, I have been watching this thread and I hope for a quick resolution for you. Absolutely a CF to do that at this stage.

We offered quite far below asking on a property recently. Seller advised they had an offer much closer to asking. So we thanked them for the info, told them our max (still below their current offer, taking in to account where the market is heading). If anything happens and they have to re-list we'd be interested, if not then so be it. I wouldn't dream of reducing an offer any later than at survey stage.

The English system desperately needs an overhaul.

declutteringmymind · 17/08/2023 15:58

It sounds like they can't afford it now and this offer was a last ditch attempt to get the house.

Cancel it and put it back in the market. They can bid for it again if they wish but with a non refundable deposit.

Original poster
Loobydoobies · 17/08/2023 16:01

YukoandHiro · 17/08/2023 15:10

It's a nightmare for you but a very sensible decision for them. The price drop is happening rapidly; they'll be shafted if they overpay

Oh, here we go. The market where we live isn't dropping. There is nothing in the price bracket they are offering.

We have had agents round today for a view, and their valuation is in line with what we had it on sale for.

'the market's isn't one homogenous thing. It is different everywhere.

OP posts:
FlamingoQueen · 17/08/2023 16:01

Fingers crossed that you are able to sort everything out quickly.

NyanBinaryJohn · 17/08/2023 16:06

the market's isn't one homogenous thing. It is different everywhere

This. We need to find a house first before we list ours because of the difference between the areas in terms of how the market behaves.

Trez1510 · 17/08/2023 16:12

@NyanBinaryJohn thank you for your empathy. A severe mental breakdown is not the equivalent of (C)PTSD.

As aside, the exclamation mark at the end of the pp's remark tends to indicate the use of the term was for dramatic/attention-seeking effect, rather than something she had genuinely experienced.

Anyhoo, I apologise to @Loobydoobies for derailing and hope the matter is resolved without her having to claim PTSD as a result. 👍

Avocadot0ast · 17/08/2023 16:24

I had this once and gave them an exchange deadline. They tried everything! We’re an absolute nightmare and I’m even the estate agent wasn’t bloody listening to me. They tried to get us to move out into rented ahead of completion of our future property I said no, they tried to reduce the purchase price I said no. They tried to get us to meet in the middle and us pay for their rent even though we were on schedule and not running behind. He even called my solicitors office for god knows what reason and was incredibly rude to the reception staff. In the end I told the EA either exchange or put it back on the market but stop emailing me. We exchanged a few days later. House buying brings out the worst in people I swear!

MarkWithaC · 17/08/2023 16:25

Chancers. Hold firm, OP.
Happened to my dad years ago when he and my mum were moving us all to another part of the country. Had a hard deadline as he had a job lined up and we had movers sorted etc.
Buyers' agent called a few days before completion to say they were 'concerned' about a crack in the wall and wanted however much taken off the price.
It was a totally trivial crack that could just be painted over. My dad (who is usually Mr Anything For a Quiet Life) told them in no uncertain terms that they either completed by the agreed deadline, or he would withdraw from the sale and put the house back on the market, at a new higher price of initially agreed price plus the £x they wanted taken off.
They completed quietly. Grin

Wyks · 17/08/2023 17:40

2 days before exchange, our buyer tried telling us the survey he’d had done 2 months previously showed a ceiling crack and he wanted the price reduced by £20k

He is an estate agent himself so knows full well how shitty this is

The thing is, we’d had another offer £20k over the asking price but hadn’t accepted it as it wasn’t “the right thing to do”. We explained that if he didn’t want it at the price we’d accepted, the other people were still hoping to pay more and move quickly. The buyer thankfully went ahead with the initial price and we moved the following week

Original poster
Loobydoobies · 17/08/2023 17:40

Well...they came back and said 'I supposed we could over £30k under'. The agent said he doubted we would take it but was obliged to tell us.

I told him no. They pay what we agreed or lose out and we go back on the market. We have something that they want and aren't going to commit financial suicide for people we don't know who aren't showing any respect or transparency in their actions. Chancers.

Back on the market on Monday if that didn't work.

OP posts:
Original poster
Loobydoobies · 17/08/2023 17:42

The only interesting things is that our sellers have gone to ground too, giving us breathing space...

OP posts: