Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Property/DIY

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

Original poster

I think our FTB will gazunder!!

118 replies

Potaytoe5 · 10/02/2024 10:03

Sold a while back and it's been dragging on for months- mostly because of solicitors not being able to communicate very well.
Our buyers are FTB, we are selling at a cheaper price to them. They included a clause that they will not try to lower the price any further after the surveys, which I realise doesn't mean much.

It took them a while to sort out the survey, which didn't show anything unexpected. The survey was over a month ago, but now they suddenly want to order two extra specialist surveys, and they want us to contribute to the price!!!
I said categorically no, they are free to have more surveys but we will not be paying for them, the house is a bargain as it is.

Am I right to be worried, I feel they will try to gazunder or pull out, although at this point we would just put the house back on the market. We will probably lose the house we're buying this way, but I wonder whether we could sell ours for more than we're currently getting anyway. Just very frustrated with it all.

OP posts:
gotmychristmasmiracle · 10/02/2024 11:44

If your starting to get a back gut feeling about it, talk to the estate agent about putting it back on the market as you thought this was going to be a straight forward sale and it's not looking that way.

freeedum · 10/02/2024 11:45

Potaytoe5 · 10/02/2024 11:22

I don't think it's standard to order a survey 2 months after our offer on the house we are buying is accepted, and then demand extra surveys 1.5 month after having theirs done?? So they are taking extra 3.5 months just to sort out their surveys???
Surely they should have ordered them before the eleventh hour.
I understand it is a big purchase, we were first time buyers 8 years ago but I wouldn't dream of wasting 3 hours of someone's time before even putting in an offer.
They just seem beyond cheeky to me.

It is standard if they have concerns about your house. Is your house in poor condition because they obviously think it is and you already said it’s been reduced heavily suggesting it might be in poor condition too. At least link to the house or describe it so we have a better idea of what the concerns moght from all sides.

nightnightcircus · 10/02/2024 11:46

I’d agree to the surveys but wouldn’t help pay for them, obviously!

sorestupid · 10/02/2024 11:49

I wouldn’t go back to the market unless you are prepared to lose the buyers (i would walk away in their shoes then) but you could easily have a conversation with your EA to voice your doubts/fears.

Original poster
Potaytoe5 · 10/02/2024 11:54

The house has been renovated with only a couple of things remaining to do, which is reflected in the price.
It has been refloored, replastered, with (expensive) new kitchen and bathroom, hardly a doer upper. We discounted the price as we wanted to move to a bigger house soonish.

Thank you for all those sympathetic with my situation.

OP posts:
sorestupid · 10/02/2024 11:56

Logically the buyers will have spent time & money too & may have a good mortgage deal they want to keep so I wouldn’t automatically distrust them.

Original poster
Potaytoe5 · 10/02/2024 11:57

I do think it is VERY cheeky to ask us to pay for their surveys, no matter what some commenters say... wouldn't even cross my mind.

OP posts:
Original poster
Potaytoe5 · 10/02/2024 11:58

sorestupid · 10/02/2024 11:56

Logically the buyers will have spent time & money too & may have a good mortgage deal they want to keep so I wouldn’t automatically distrust them.

I really hope they are just being cautious, it just seems odd to wait until the last moment for extra surveys!

OP posts:
sorestupid · 10/02/2024 12:07

I do think it is VERY cheeky to ask us to pay for their surveys, no matter what some commenters say... wouldn't even cross my mind.

I don’t think it’s cheeky, also don’t believe in cheeky offers. Like you, I wouldn’t pay either but I don’t blame them for trying.

I really hope they are just being cautious, it just seems odd to wait until the last moment for extra surveys!

Personally I found once the finish line is in sight is when people start to panic, have doubt etc. They could be stalling for another reason but that doesn’t mean they will pull out.

12tog · 10/02/2024 12:17

I think FTBs can be a bit clueless about timelines and implications. We had a last-minute drains survey when we were selling our house to (lovely) FTBs… it seems to be the latest preoccupation. We also did an electrics survey when buying our current house and it freaked the sellers out a bit… but all was well. In both cases, the person ordering the survey paid for the survey. That is what strikes me as odd.

BigFatCat2024 · 10/02/2024 12:43

There are too many red flags. any seller that cane across rude a d outting “clauses” in to stop further reductions is a no no from me

The FTB put that clause in, not OP

Original poster
Potaytoe5 · 10/02/2024 12:59

@12tog I do think it odd, them wanting us to pay for the survey. There was no reasoning behind it too. It feels like they are under the impression we will agree to anything, we've been accommodating with their requests so far.

Little do they know that in about 6 months we'll be able to move without selling, which I am discussing with DH now. Both of us are fed up in living in a too-small-house but we've been at it for almost 6 months already!!

OP posts:
Postapocalypticcowgirl · 10/02/2024 12:59

The only issue with going back on the market is new buyers may ask why the house is now available again- if the agent is honest and says you put it back on the market after the buyers wanted a second survey, that's off-putting. If they give some cagey non-answer that's also off-putting.

I would let them do their surveys, but if, after that, there's no further movement, then I would consider going back on the market. You can then also honestly say the buyers weren't proceeding fast enough.

I do think first time buyers get a lot of advice online to check/recheck lots of factors, which may seem unreasonable to some.

Original poster
Potaytoe5 · 10/02/2024 13:03

@Postapocalypticcowgirl we won't refuse them surveys but if they'll try to reduce their offer much further we will pull out.
Their mortgage has been approved after the survey 'didn't find anything unexpected'.

OP posts:
FrontEnd · 10/02/2024 13:07

Assuming you're in England you haven't sold (or bought) until exchange has happened. Everything prior to that is simply chat. No way would I be taking a house off the market until financial ability of proceed verified and survey commissioned. The clause regarding not renegotiating £ is worthless...the point is (only) will they buy or not at agreed price X within timeframe Y. Sounds like they aren't willing to commit to that based on the info they are in possession of (fine) so now it's up to you to decide if you want to continue down this path or start again.

I'd tell them they're free to get whatever surveys they want done at their expense but they need to commit or withdraw within a couple of weeks (give specific date) else it's back on the market. That's being cooperative but setting firm boundaries.

You also have the option of telling them you're going back on the market immediately due to delays but will keep your agreed price if they are first party able to exchange. If you do this your EA needs to inform any other interested parties it's a race to point of exchange and this will limit your market.

It's a crap system and your EA and solicitor should not have let things get to this point but it's a v tricky market which makes it extra stressful for everyone. Good luck!

SausageTolls · 10/02/2024 13:16

Speak to your solicitor and get them to speak to the vendors solicitor and say you are worried they are delaying as they have cash issues and you are thinking of relisting. State they can do surveys but you are not paying and if they don’t hurry up you’ll go back to market.

bigdecisionstomake · 10/02/2024 13:27

freeedum · 10/02/2024 11:28

Going back on the market is not necessarily a good thing ad this time either. Many buyers know it’s a buyers market and will wonder why another buyer didn’t purchase your house in the end. If you told your side of the story as per your thread to a new buyer, I don’t think theyd be interested in your house either. And we all Know EAs lie and no believes a word they say to buyers. Whether you are in a better financial position or not is irrelevant. The main factor is whether another buyer would want your house. If you moving depends on this chain, then you need to learn to be reasonable. FTBs are making a big financial decision now. You bought 8 years ago when things were cheaper and easier. The nerve.

Lol at this 😂

It sounds like you've been more than reasonable OP. You are right to refuse to go halves on the cost of the additional surveys. If they want to have them done then I would agree but place a time limit on it and in the meantime speak to the agent to get geared up for going back on the market.

I work in property and the market is definitely starting to pick up now as we head towards Spring. Coupled with this is falling inflation and rumblings about interest rates starting to come down with mortgage lenders already starting to put better deals out there.

Twiglets1 · 10/02/2024 14:12

Potaytoe5 · 10/02/2024 11:57

I do think it is VERY cheeky to ask us to pay for their surveys, no matter what some commenters say... wouldn't even cross my mind.

Yes I agree. I would never dream of asking the owner of a property to pay for surveys I wanted to do. It’s just not the done thing at all.

friendlycat · 10/02/2024 14:19

Just let them get the additional surveys done but at their expense obviously.

FTBs are notoriously cautious which is understandable and not always that switched on with the process and timeframes. When I sold my last house my buyers did both of these surveys last minute.

TarantinoIsAMisogynist · 10/02/2024 14:29

Potaytoe5 · 10/02/2024 11:26

@freeedum are you my buyer??
They are of course free to do more surveys, I am NOT paying for them.
They can pull out and we can find other buyers.
The clause about not dropping the price anymore was suggested by them, I imagine so we accept their low offer.

It doesn't sound as if you had any other offers to compare it to, so what evidence do you have for their offer being "low"?

A house is worth what someone is willing to pay for it on the open market. No more, no less. You didn't agree to sell it to them at "a cheaper price", you simply accepted the only offer you'd received.

If they had time to do 3 viewings, bringing specialists with them, the house must have been on the market a little while, so that's a good indication of what your house is actually worth.

TarantinoIsAMisogynist · 10/02/2024 14:32

BigFatCat2024 · 10/02/2024 12:43

There are too many red flags. any seller that cane across rude a d outting “clauses” in to stop further reductions is a no no from me

The FTB put that clause in, not OP

Given that this is only at offer stage, there is no contract yet, so how can a "clause" even exist?

hedgehoglurker · 10/02/2024 14:34

It might have been their conveyancer's idea to ask you to pay half for the surveys. I really wouldn't take it personally, just decline their request to pay half. It would have been cheeky to ask you to foot the entire bill.

Original poster
Potaytoe5 · 10/02/2024 14:48

We've sold at the end of summer, at the peak interest rates. Mortgages have gone down a lot since.
The surveys they want doing aren't even necessary from the main survey they got, I agree they are free to do them but I see no reason to contribute to the costs.

OP posts:
Original poster
Potaytoe5 · 10/02/2024 15:37

TarantinoIsAMisogynist · 10/02/2024 14:32

Given that this is only at offer stage, there is no contract yet, so how can a "clause" even exist?

Show quote history

I have no idea, honestly! They suggested it themselves. I know it is non-binding.

OP posts:
DrySherry · 10/02/2024 16:35

I think the drain survey is sensible on older properties, we had it done last time we bought. The checking for damp more closely too.
I wouldn't worry that they asked you to contribute. No harm in them trying it on really, but your right to refuse.
Your probably worrying about nothing ;)