Difficult Buyers

[micci124]

Good evening all.

We are in the process of selling our house, accepted an offer on our already reduced house. Things were progressing nicely until an error was spotted on the purchase price, nobody is sure what is going on for sure, but our buyers are maintaing they offered 5k less than what the estate agent offered to me over the phone. They were understandably angry and shocked, however despite being sent a memorandum of sale with the purchase price 30 days, only just actioning this now. We are at the top of borrowing for the next house and cannot afford the extra 5k. Even though, this isnt our fault we offered 1.2k extra. This was flatly refused. There seems to be no empathy for us by them and they seem to be going beyond the realm of politeness. I think there is foul play here,and I'm tempted to tell them to shove it. Any advice? Thanks

Are you sure about all this? It's the seller's solicitors who draw up the contract not the buyer's. How was the mistake not noticed until AFTER exchange? At exchange parties are bound. What about when you signed the contract with the price on it...before exchange. how come you didn't see it then?

We’re under offer with a purchase and we never actually saw the memo as it was sent directly to our solicitor but we told them how much we’d offered to pay and it’s also on our mortgage offer so I find it hard to believe that no one picked up on the discrepancy. I thought it was legal requirement for offers to be made in writing, so if the agents can’t produce the offer there’s definitely something a miss there and sounds like it’s just been the perfect storm of mess ups. Unfortunately, if you can’t reduce and they can’t or won’t increase it sound like this one may be over and that potentially you’ve both been unlucky. I am sorry this has happened to you as you expect professionals to at least check the basics.

It was noticed as we prepared to exchange - poor wording on my part! We exhcanged two days later than planned as there were some hasty renegotiations. I realise that it might seem unbelievable (partly as I've excluded some very identifying details) but I promise you it happened.

This makes sense. I was a bit shocked it would have exchanged like that lol.
Wow what a stress for you though!

Are the buyers landlords? If they are BTL the EA stands to make a lot more money from them than from you if they are going to manage lettings. In which case I wouldn't be surprised if they are working together to achieve a lower price.

I believe the EA over your buyers since the higher amount was clearly listed on the Memorandum of Sale. It’s inconceivable to me that a buyer would not notice an incorrect amount when the Memo was issued.

Seeing as they rejected your offer to reduce the price by 1.2k I would revert to the original agreed price and say they have until midday on Friday to accept it or withdraw. Be prepared to go through with it & re list the house on Friday afternoon.

Paranoid much?

We've told the EA to reduce their seller fees due to this screw up and we can give it to our buyers. So we're not out of pocket. We've sent an email, saying that if they reject the 2.5k discount and meet us halfway then we'll walk. I've had enough.

Walk away.

It's so hard. And the effort of remarketing and it being a bad time of year and even more delays and what if you lose the house you want etc etc. But the process is hard enough with an understanding, easy buyer. These people are incompetent (30 days before noticing a mistake?! And is it a mistake or are they pulling a fast one!?) and they aren't willing to be understanding to negotiation.

Walk away. Start again.

An experienced agent would broker a deal sourcing funds from your onward purchase, you, your buyer and the EA fee. That comes to £1,250 each; not so bad.

Why should the onwards seller lose out? That kind of request sounds outrageous.

Does the buyer always see the memorandum? I'm buying and haven't seen one, it's just been dealt with between agents & solicitor. So I wouldn't assume that they've seen it to start with.

I’ve always been sent a copy of the memorandum as a Seller & Buyer

We have recently been sent the memorandums for both our sale and our onwards purchase. To be fair, both EAs just sent them over, but I was under the impression that they had to be sent to everyone named on them?

OP - how your EA has dealt with this is very strange. However, I think the buyer is trying it on - taking 30 days to dispute what was written in the MoS? Idiotic if they left it that long to check the memo.

Either way, whether the fault lie due to EA incompetency, or buyers just being CFs, neither is your fault, and you shouldn't be financially penalised. Hats off to you though for trying to compromise and meeting them halfway.

Update. After a frantic few days, the buyers offered us 1k extra. The EA bridged the gap by 3k, so we were out if pocket by 1k. The EA said they've never come across a couple like them before, we were disappointed in their behaviour for sure. We were going to leave them stuff that was wasn't included in the fixtures amd fittings, but now we'll take pretty everything we can, including toilet paper. Lol. We asked the EA to add a condition on the revised purchase price, that it was subject to no further negotiation. They are having an extended survey done on theirs, so I'm hoping they will not attempt to f**k us around again, if the survey doesn't go their way.

So the estate agent hasn't admitted that they made a mistake but they also haven't said that they did not and now they have offered to reduce their fee by 3K. It sounds very likely that the mistake was the agent's but yet you continue to take it out on the buyers when it's likely to be the agent that has 'f**ked you around', not them. If you continue with that sort of attitude, you simply make it more likely that the sale will fall through.

They had the memorandum of sale for 30 days before questioning it. Don't lecture me on attitude. Look at your own.

Thanks to everyone for listening. :)

You came on here and asked for opinions. People gave them. There's really no point in being rude in response. Frankly, I feel a bit sorry for your buyers if you are behaving like this with them.

If this had happened to me then I would be contacting the Property Ombudsman.

We did consider it, but they worked really hard for us to keep the sale. I don't think it's appropriate anymore. It would have been a different matter if we'd of lost the sale. X

People did give opinions and helpful advice, you, however cast aspertions on my attitude. I'm absolutely entitled to be pissed off with them. If there was a mistake in the initial offer it should have been questioned straightaway, not 30 days later when, especially they had the memorandum of sale detailing the price. Their behaviour is constiient with gazundering. Which is cheeky AF and highly unethical and soeaks highly of their values. Dont contribute to conversations unless it's helpful and kind. Have a good evening.

Actually, several posters thought you were not 'entitled to be pissed off' with them. However, if you feel like this 'Their behaviour is constiient with gazundering. Which is cheeky AF and highly unethical and soeaks highly of their values' then you should have just pulled out and found some buyers that you feel you can trust. That would have been the sensible thing to have done.

It is a risk with posting things on the internet that you might get some people who don't agree with you.

Good God. How iI feel about my situation is perfectly valid. I don't give a fats rats ass about anybody who tells me how to feel. They are MY feelings!! That is a seriously toxic attitude you got there telling others how they should feel. Anybody that has been the subject to gazundering, gets pissed off the buyers. The 7(cannot believe you went to the trouble of counting btw) that dont agree may of never had the experience of buying a house, or be may even be professional gazunders themselves who knows. This is immaterial anyway because iam upset about it. Go in peace. Evaluate your whole thought process. Reflect, for the good of all humanity Jeez.

Agree with all of this.

OP you need to control your emotions and attitude, it's far better to be more professional along the conveyancing process.

It's much more likely there was a genuine mistake (these things do happen) than the buyers were deliberately gazundering.