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Property/DIY

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Original poster

Due to exchange, buyers want £15 grand off the price!!!!

105 replies

Diege · 19/11/2009 13:28

Due to exchange and buyers rang up estate agents at the beginning of the week and said they wanted 15 grand off the price - no discernable reason (ie, not survey related)
We have found our dream home, our things are in the process if being packed up, dds picked their news bedrooms etc etc and I'm emotionally very attached to our new house. Any suggestions as to how we deal with the situation? I initially in my panic thought offer them a percentage (5 grand) but realising that the buyers are being totally unethcial (they've got a very good price and we also knocked money off for them when they made a mistake with stamp duty) have provided them with an ultimatum (on advice of estate agents): exchange tomorrow or return the papers...
Feeling very very stressed about all of this..any advice on what to do if they refuse appreciated!

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Original poster

Diege · 19/11/2009 17:10

I am going from quietly occupying the moral highground to screaming to dh down the phone 'give them the money!!!
Apparently estate agent says they came in on Monday and sat down in front of her and asked, 'What do you think Mr and Mrs W would be prepared to drop by??' They started at 30 grand then talked themselves down to 15 while she just sat there with her mouth open. I mean, they didn't even see anything wrong or even slightly embarrassing about the whole thing I've heard about people like this but never actually met any

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noddyholder · 19/11/2009 17:13

Do not give in House prices are rising slightly atm even though its a temp boom tell them you will re market it

Original poster

Diege · 19/11/2009 17:54

Thanks NODDY . This time tomorrow we will at least know where we stand.

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Biobytes · 19/11/2009 18:01

Shameless people, don't let yourself be bullied in this way, it is better to loose that house that remember that you were blackmailed every time you think of the previous house.

plus3 · 19/11/2009 18:18

this is all so wrong. We lost a house at the beginning of the boom because the vendors had their house revalued as the chain had become stagnant for various reasons. As first time buyers the rising prces were pushed onto us, resulting us having to find an extra £30K, which the vendors (desperate for their sale not to fall through) tried to offer it at £15k extra, which we just could not find.

As a result we missed out, and still now are struggling to get on the ladder.

These people are just chancing their luck in the opposite direction. Making unreasonable demands on the off chance you will be desperate enough to give in.

Good luck.

HouseHuntingNoMore · 19/11/2009 20:26

Keep firm & do not budge on the price. Good luck hun, I know it is such a stressful time. We exchanged today & I am sooo relieved as I have been mega stressed.

Rollmops · 20/11/2009 08:02

Mr Rollmops here,

If they buy, leave them a few presents when you move like a fish in the attic. Strip out everything i.e. curtain poles, light fittings, the works.

Original poster

Diege · 20/11/2009 08:24

LOL MR ROLLMOPS . Yes, very tempting...we also know where they live and I've whiled away many an hour thinking of how to exact revenge (latest plan was just a note through the door with the word 'karma' written on it; dh's plans are rather more 'elaborate' shall we say).
Very nervous this morning...am thinking the worst but if they don;t exchange we WILL stay firm and take off the market. I think there are some things that are more important than bricks and morter, although have a nagging doubt we may be cutting off our nose to spite our face, just to make a point.

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Original poster

Diege · 20/11/2009 09:02

Put BACK on the market I mean. We spoke to our sellers last night (we're on good terms with them) and they sympathised and said they were 'in no rush', so who knows it might be the case that we sell to someone else and still get the house

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Lizzylou · 20/11/2009 09:05

Gosh, Diege, really hope that this goes OK for you today.
I cannot believe how grasping and greedy some people can be.
Loving the idea about the KARMA note, excellent

Original poster

Diege · 20/11/2009 09:09

Thanks LIZZY . Will let you know how we get on.

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bibbitybobbityhat · 20/11/2009 09:25

Everything crossed for you here Diege. Your sellers sound great. Really really hope it works out for you.

Lizzylou · 20/11/2009 09:31

Diege I have a Saturday job in an Estate Agents, in the 2.5yrs I've been there I have never heard of this happening (people have tried things on, of course, but sales still went ahead). You tend to get the investors haggling and outbidding over the repossessed properties, where only the banks lose out.
So that bodes well for you, I think.

How can they sleep at night? It's not like they are bargaining about a piece of furniture or haggling over a car, it's your home, and your DC's home.

Bloody good for you for sticking to your guns.

Iamamumma · 20/11/2009 09:39

Good luck for today, hope your sale goes through

CJCregg · 20/11/2009 09:39

Just been reading this and feel so sorry for you. What a nightmare. Haven't experienced it (yet, hope not to!) but just wanted to say well done, and stick to your guns. Bloody grasping bastards!

JulesJules · 20/11/2009 09:40

What utter bastards, I feel for you. Don't give in to these stupid bullies, they are just trying it on. If they walk away they will have lost all the money they've had to pay out so far, and you may still get your dream house.

(Mr Rollmops - friends of my BIL did this - stripped out the curtain poles, the light fittings, trashed the place. Hope their buyers thought it was worth screwing them over when they walked through the door...)

Original poster

Diege · 20/11/2009 09:42

Many thanks everyone. It really helps to hear your stories and to know that we are doing The Right Thing. I too don't know how they can sleep at night; never met people like that before

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GrendelsMum · 20/11/2009 09:43

We're all behind you, cheering you on to keep firm!

Original poster

Diege · 20/11/2009 09:45

you've got me crying now
I tell you what, if we do get the house and you're anywhere near Warrington, you're all welcome to the housewarming party

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Lizzylou · 20/11/2009 10:04

I'm not far away (you may regret the invite!) promise not to vomit on your new carpets.

We could all do an MN campaign of pizza deliveries and taxis at the dead of night to the bastard buyers .

Original poster

Diege · 20/11/2009 10:16

I'm liking the way you think LIZZIE

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wannaBe · 20/11/2009 10:19

these people are the lowest of the low.

My sister went through a similar experience, except in her situation the buyers actually turned up on her doorstep at 8:00 on a saturday morning demanding a reduction or they'd pull out. She called their bluff and they did pull out, but her sellers weren't in any rush either and held on to the property until she found new buyers.

The agent said that it's actually quite common for cash buyers or those buying properties to rent to do this. They often put in offers on three or four houses and do this to all of them knowing that one will cave and give them the reduction.

Imo it should be illegal as it is in Scotland.

Lizzylou · 20/11/2009 10:24

Wannabe, the reason I think we don't have it much round here is that it is a small valley just a few small towns/villages. Most people have lived here all their lives, so they'd have to bump into people who they had screwed over/tried to screw over. Or they'd know them/know of them.
That is awful about your sister's buyer.

Original poster

Diege · 20/11/2009 10:40

WANNABE, I can;t believe the cheek of your sister's buyers That they can even consider showing their faces to impart such news shows what nasty pieces of work people like that are . Out of interest how did she cope with the stress of it all and the disappointment? Have been a bit low since the birth of no.4 (not PND, just nor quite myself) and worrying that this is going to have quite a bad effect on my mental health etc, though really have to pull myself together as I'm not the first person this has happended to.
Interesting we live in a small village too and many people know of the buyers...they have no shame though so don't think bumping into us would be much of a problem in light of how they've been when they've come round here to view etc.

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ShowOfHands · 20/11/2009 10:40

Oh I do hope it works out for you.

We've been on the other side of it- survey found that £10,000 needed to be spent to make the house we were buying structurally sound and in line with building regs (vendor had done a lot of stuff he shouldn't have). We said we'd be happy with a £5,000 reduction and to pay the rest ourselves. Vendor was very cross and demanded we pay him an extra 2.5k on top of provisional price. We said no. Whole thing fell apart.

3 years later, we can't find the deposit to try again and I'm a SAHM so can't get a mortgage anymore.

I was so, so, so stressed at the time. Pregnant and anxious. I hated it. The system's horrid isn't it?

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