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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 · 27/06/2009 21:42

thankyou both, sheeta thanks for the travel tips.
Our vendor is pulling out on tuesday if the contracts are not signed, so we will have lost the gorgeous house we spent 2 years searching for, because of this couple. Its so heartbreaking.

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pickyvic · 27/06/2009 22:01

oh vannah thats so crap. something better might just be round the corner....you never know. i think your buyers are absolute bastards and karma with bite them on the arse i promise.

HarrietTheSpy · 28/06/2009 08:33

Was that other person willing to commit though, if you could wait the six weeks? Maybe you could discuss this with the people you are buying from - presumbly they need to secure their other place too?

I agree with you that your buyers are waiting for something.

Put it back on the market Tues. If that shakes them up and they come back say, SORRY THE PRICE IS BACK UP TO WHAT IT WAS BEFORE WE DROPPED THE £7K!! Take it, or leave it.

CarGirl · 28/06/2009 19:55

vannah so sorry that you have spent another weekend stressed about this. I hope your buyers pull their finger out on Tuesday and stop messing you about.

Original poster

vannah · 28/06/2009 20:06

thankyou..harriet the person we are buying from has nothing to buy but urgently needs his money. And therefore he has waited for us and our slow buyers for 3 months now, and has apparently all along had 'cash' buyers.
I dont think he is bluffing.
We are going to call the agents to tell them that our buyer is pulling out on tuesday. But I fear that they wont care much.

OP posts:

Sheeta · 28/06/2009 20:22

Vannah

Sorry to go against everyone else, but I have changed my mind. I've been thinking about it and if it is your dream house, and you've already dropped the price so much, then £3K actually isn't much at all.

If it's your perfect house, do it.

Just leave your own house in absolute shit order for the fucking arseholes that have bought is.

let us know what happens x

CarGirl · 28/06/2009 20:25

I'm not sure it's even about the extra £3k I think there is something else going on too.

cissycharlton · 28/06/2009 20:36

I'm selling my house and I've noticed that a few of the houses we are looking at keep going off and back on the market. The agents say this is happening all the time. The two houses we are really interested in have been 'sold' only to become fully available a few weeks down the line.

The situation is (I think) that lenders are getting very very picky. People are simply not getting the mortgage deals they once were.

I suspect your buyers do want the flat but for one reason or another are having trouble raising the funds and are therefore buying time.

The market is nuts at the moment.

Original poster

vannah · 28/06/2009 20:43

thankyou. Cargirl, thats my gut feeling - but my husband is going along with Sheeta, and saying that we should just put forward the extra 3 (God knows where we are going to get it from!) for the sake of not losing this house. Which ties in with what cissycharlton is saying - perhaps they are having trouble raising the funds and are buying time.

In which case i wonder how much of an effect an extra 3 will have.
They had their mortgage offer well over a month ago?

OP posts:

CarGirl · 28/06/2009 20:48

But that was an offer a month ago perhaps now they can't get the same offer?

Original poster

vannah · 28/06/2009 21:03

oh. I thought once you had a mortgage offer in writing that was that...unless perhaps your own circumstances change which is what im suspecting with them.

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CarGirl · 28/06/2009 21:05

but it may be only valid for so many days and that time has passed, depends whether it was in principle or not as well possibly?

LyraSilvertongue · 28/06/2009 21:14

Mortgage offers are usually valid for a few months.

If it helps, Vannah, we had a nightmare house purchase last year, also involving our dream house which we'd searched for for years. It was all off at one point and I was heartbroken but eventually it did all work out and I'm sitting in it now. We ended up having to pay £5k above our original offer but it was so worth it.

Sometimes these things do go your way so keep your fingers crossed.

Original poster

vannah · 28/06/2009 21:25

thankyou both...

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LadyThompson · 29/06/2009 12:38

We're all rooting for you Vannah, keep us posted.

unavailable · 29/06/2009 15:41

Having recently had both first our seller and then buyer pull out close to exchange I really feel for you.

I hope things work out tomorrow, and will keep fingers crossed for you.

I just wanted to say that in the past 10 days I have got some perspective and know there are other buyers and other houses to buy out there.

You will get what you want in the end.

thirtypence · 30/06/2009 05:30

If you drop the 3K they will ask for another 5K!

JollyPirate · 30/06/2009 06:23

What utter sh*ts Vannah. Part of me hopes that they lose your place just to give them a kick up the bum for being greedy. BUT hope it all works out for you if this other house is perfect.
If the vendor of the new house really needs the money then I would question why he did not go with a cash buyer in the first place. The market is crap - why wait for you when he could have the cash in his bank account? Doesn't wash with me - I think he's putting on additional pressure you really don't need.

So hope this works out for you.

unavailable · 30/06/2009 15:20

Any news yet Vannah?

FatGirlThin · 30/06/2009 21:27

Vannah...VAAAAAANNNnnaaaaaaaah

LovingTheSunshine · 01/07/2009 14:49

Vannah, how is it going? Good news I hope

Original poster

vannah · 01/07/2009 20:01

Hello..couldnt tune in last night, climbed into bed same time as the kids.
The 'buyers' are finally in contact with us (we emailed them) and though we really dont feel like 'talking' in a civil tone to our robbers, we are doing so to try to find out what on earth is going on. They maintain that they do WANT the flat and always have done, but that the surveyor needed to be happy about the extended bedroom (for which our local council couldnt find the planning permission) and that this now needs to be relayed back to Abbey and Abbey need to send a letter to their solicitor saying that they are ok with an endemnity (sp?) policy due to lack of planning permission.
Quite frankly, we dont believe this, but our solicitor says its plausible. It still doesnt explain the long silences, the lack of activity, and the robbery.

They have said that they should have the letter by tomorrow (after we badgered them all day today) and that we should be able to exchange by lunch.
DH and I remain dubious and refuse to believe this whole story especially as our EA did say a few weeks ago that there was no 'retention' on the mortgage. God knows whats going on. We are just going to try to get through the day, knowing that there probably wont be any calls.

Incidently we did inform our buyers that our vendor is pulling out at the end of wednesday if contracts werent exchanged. We managed to convince him to wait till end of wed, but our buyers insist this matter need another few days. Which we translate into another few weeks given their track record and our vendor is not interested.

Thoroughly sick to the stomach.
thanks for your support everyone

OP posts:

Tinker · 01/07/2009 20:57

Have you or your "buyers" been in touch with the council whilst trying to sell/buy this house recently? Because, if so, I believe they then wouldn't be able to get an undemnity policy. And their solicitor/EA whould know this. Apologies if that's not the case and sorry this whole saga is taking so long.

LadyThompson · 01/07/2009 21:40

Vannah...words fail me. You poor old thing. Hoping against hope it all turns out right for you. And putting a hex on your selfish buyers.

Original poster

vannah · 01/07/2009 21:48

yes we have been to the council to obtain planning permission certificates but because they didnt have any for our flat, the buyers solicitor suggested the undemnity policy which apparently needs to be okayed by their bank.

do you think this is suspiscious tinker?

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