Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

Property/DIY

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

Flip

1 2 3 4

Original poster

Our buyers want 10k more at the last minute - devastated!

86 replies

vannah · 22/06/2009 21:02

so unbelievably sad, I know there are other posts like this, but just wondered if anyone had any comforting advice?

Our (first time buyers) have been slow throughout, but they came to see us about a month ago with their survey in hand. The surveyor (abbey) had undervalued our flat by 3k and we accepted the drop. They quietly looked around our flat and proceeded with the sale.

Now, as we approach the end they have stated that they want 10k off the price. Our agent told us not to take off a penny, but we are desperate for the sale and mustered up 7k. The manager of the EA called them with this (she started off with 5k but they outright refused - even though we asked her not to barter) and at the mention of 7k he said "we need 48 hours to think about it"

She told them she needed a reply by tonight else we would be re-marketing it, and they didnt call back.

So im sitting here trying not to cry. We can (beg and plead) my parents to lend another 3k to meet the 10 they want (they are lending us the 7) but this just feels so bad.

we are desperate for the sale because my daughter has been in a terrible burns accident and being in our tiny squashy flat is not helping. The house we are buying has a lovely shaded garden would be ideal for her this summer.

any words of comfort?
thankyou

OP posts:

Original poster

vannah · 23/06/2009 21:23

thankyou again. Another day has gone by and no response at all from our now elusive buyers who are refusing to get back to the agent re 7k. My solicitor said that he spoke to their solicitor today and that he was totally unaware of all of this, simply was getting the last minute papers drawn up. He sighed and said that if he hears anything he will let me know, but that we have to just keep our fingers crossed - which didnt sound very hopeful to me.

so angry its unbelievable, so totally deflated too. I really think its 'over'. I think given our daughter's burn accident we wouldnt have the strength to go through 'viewings' again, the sheer thought of property being on the market again makes me want to scream.
Someone who tried to buy our flat a few months ago texted me recently asking if still available, but she is also a first time buyer so we go through another few months of waiting, meanwhile we lose this lovely house.
We do know that this house ticks ALL of the boxes, and that we have never found anything we were happy with in the past 2 years.

Very confused and sad.

OP posts:

scaryteacher · 23/06/2009 21:32

They are, rightly or wrongly trying it on. If they agreed the initial price then with everything going this far, they would I imagine be unlikely to back out now.

If they haven't got back to you re: your very generous 7k drop (more than I would have done tbh), then have the EA remarket the property, at the price you dropped to before the 3k drop you did for them.

Get your solicitor to ascertain what price their solicitor is doing the last minute paperwork for. If they haven't instructed him to change the figures, then they are having a punt.

If they still want the property, tell them they can have the 3k drop as per the survey and valuation, but no more for messing you around.

Don't blink first; think of what you can do for dd with the extra 7k.

LadyThompson · 23/06/2009 21:39

Nothing constructive to say really. Just really sad and disappointed for you Hope the buyers see sense. Rustling up another £7k at this stage is very generous of you, and so much more than they deserve.

Heated · 23/06/2009 21:45

So sorry to hear this Vannah, hope you get your property back on the market asap.

Friends went exactly through this: first-time buyers put in a offer and the day before completion asked for a 25k drop on a house of 230k which was already reduced by 20k to get a quick sale. Friends went part-way an offered another 10k off but buyers just didn't complete/disappeared. But amazingly it took 3 days to find another buyer and this time all plain sailing.

lalalonglegs · 23/06/2009 21:50

We had this happen with our house in 2005 (when market was very slow albeit not as bad as now). The buyer had been very slow, very over-focused on (what seemed to me) pointless details. Then she wanted £30,000 discount. We told her to bog off, we had already found our current home, we got a new buyer within a few days who was able to proceed and all was well.

Yes, it was stressful but you aren't over a barrel. Text this woman back and say that you are being ponced about and that the flat is hers if she can move fast. It doesn't sound hopeless to me. Don't despair.

thirtypence · 23/06/2009 22:08

Can you quickly fix the things that need doing? We got the people in our place to fix stuff found in the survey (he was a builder) rather than renegotiate the price. We moved as arranged - no problems. And I know he did the work properly because I now teach his dd piano. They wouldn't for shame if they knew the house was falling down (hopeful emoticon)

mooseloose · 23/06/2009 22:24

Sorry you are still waiting. Remember it's not up to be chasing around though, you pay the estate agent to do this (and take the flack too.

Sit out a bit longer - sounds like you are a long way down the line to completions. Money has been spent, and like someone else says they will have fallen in love with house, visualised where the table and chairs will fit etc.So hopefully they really dont want to loose it, and its a bluff.

Good idea from thirtypence above - can you do the jobs yourself.

Keep us posted x

Original poster

vannah · 23/06/2009 22:33

thanks again for these very useful replies. Yes I think we will probably be texting this other person if she is around.
Good to know that you all thought 7k was generous...we wont feel we didnt give it our best shot.

OP posts:

navyeyelasH · 23/06/2009 22:42

We recently bought our first home and we could afford around £180. Our first mortgage broker advised us to put in offer of 200K then at the last minute ask for £20k off!

Needless to say we got a new broker offered £3k below asking price on our current house and then had a further £1k off after the survey to fix some rising damp and also to match the valuation Abbey had given.

If I were you I'd stick your place right back on the market. £10k is a lot of money, think of what you can do for your DC with that. No simple I know. So sorry this has happened to you.

whereeverIlaymyhat · 24/06/2009 16:37

This is appalling behaviour but unfortunately it works both ways, we were gazzumped on a house by £5k and cannot tell you how heart broken we were, all our money went on the survey for that house and we then had to take a punt on the next one without a survey, which of course needed loads doing to it

If it was me I'd pass the £10k loss up the chain even if that means keeping your buyer sweet and finding another house.

mooseloose · 24/06/2009 17:00

Any news yet?

annh · 25/06/2009 09:28

Vannah, have you heard anything further?

Original poster

vannah · 25/06/2009 21:37

Thankyou again and thanks for checking in, I didnt log in yesterday, totally wiped out- this is very draining.

They did respond in a sense, but its all very peculiar. Their solicitor wrote to ours saying that the new price is 290 (so accepted the drop) but that they needed to discuss matters with the surveyor re the bedroom 'extension' (the bank has not put any restrictions on their loan by the way) and will exchange in the NEAR FUTURE and they want the fridge and cooker.

So our solicitor faxed back saying accept the 7 and exchange by tuesday, and no more issues about the extension in a firm tone. We've heard nothing since and their solicitor is now avoiding our solicitors calls.

I think they have a personal problem, either relationship or job loss threat, and are 'waiting' for something. Much to the cost of our nerves...

OP posts:

lalalonglegs · 25/06/2009 21:46

PUT THE FLAT BACK ON THE MARKET.

slackrunner · 25/06/2009 21:58

Ditto lala. They can always buy it iof they still want it- but you're not losing anything in the meantime.

annh · 25/06/2009 22:43

Well, I don't like to add to the shouting but yes can only echo those who said - PUT THE FLAT BACK ON THE MARKET! And CALL THE WOMAN WHO TEXTED!

NoseyHelen · 25/06/2009 23:27

Ditto Annh!!!!!!!!!!!!!

scaryteacher · 25/06/2009 23:58

Wanting the fridge and cooker is adding insult to injury - they are buying the house not all the fixtures and fittings.

Put it back on at the price before you dropped the 7k, and if they want it, they'll have to pay more for messing you around. Tell them you'll only now sell to them if they exchange and complete within a certain time and stop dicking you about.

thirtypence · 26/06/2009 09:10

They are all bluff - time to call theirs.

RubberDuck · 26/06/2009 09:33

We had this with the buyer of our last house. Their solicitor was being an arse, the buyer was being an arse and eventually I snapped and told them in that if contracts weren't exchanged within 24hrs they could fuck right off and never come back.

Contracts were exchanged within 48hrs... .

Original poster

vannah · 26/06/2009 21:25

thanks again,
well our solicitor has given them till tuesday to exchange contracts so if they dont surface then we shall be remarketing/ possibly going for a buy to let mortgage.
Have also called old buyer, she is still desperate, but she is also a first time buyer so AT LEAST 6 weeks from now...

OP posts:

NoseyHelen · 26/06/2009 22:10

Good for you!

pickyvic · 27/06/2009 17:24

id tell them to take a run and jump!

i think you have been generous enough. call their bluff and tell them they have to pay extra for any fixtures and fittings, or tell them you will simply take them with you.

arses! good luck for tuesday.

how much have they spent on the survey etc? they will simply lose it if they walk away now. can they afford to do that?

wildfig · 27/06/2009 18:42

Late to this, and with nothing very useful to add to the good advice given above, but just wanted to say that you're being VERY generous to give them the £7k, and that they should take a running jump. Who knows? If you put the house back on the market, you might just get a sale quicker than you think: it took us two years to find the right house (as cash buyers) - we looked round several that were sold before we could offer and frankly if they'd come back on the market we'd have snapped the vendor's hand off.

Crossing my fingers for you that it works out the way you want.

Sheeta · 27/06/2009 20:30

oh vannah, what utter bastards.

I'd sit tight if I were you - they've spent a lot of money on the solicitors and surveys. agree to the £7k but please don't give them the satisfaction.

Hope the info about holiday places was helpful also. x

Flip

1 2 3 4

Swipe left for the next trending thread