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

[Diege]

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!

That's awful SOH Things like that do stay with you for a long time. I think you were more than reasonable with your negotiations. Our survey on the nhouse we're buying resulted in the valuation being a little lower than price, but not so that we'd ask for money off - 10 grands worth though we would have!

We were buying at the bottom end of the market, first time buyers, so to be told a 130k house needs spending 10k on it to make it safe, well we just didn't have that kind of money. I actually felt awful going back and asking for the reduction but had a great solicitor who pointed out that it was why we'd had the survey in the first place. I couldn't try again at the time. We lost money, I was devastated. I suppose it's a good thing in the long run though as the market then crashed and we'd have seriously struggled. Still, renting seems like such a waste of money.

I do hope it works out for you. It's such a strange thing buying a house. It's not like buying something else that actually has a value related to its physical parts. All the messing about and solicitors and haggling. Bleurgh. I'm crossing my fingers for you that it's sorted by the end of the day.

And structural work too, well theres no way you could be expected to make up the difference. What an unreasonable seller you had there. The house we want is £1000 under value, and just a case of improving ventilation in cellar and party wall in loft (it's 200 years old). Good that you can see the positives in what happened. I think I will always feel a massive sadness about this one. Can't even walk past it atm, which adds an extra 10 mins to my journey

This house was on my way to work. Used to take a detour on my bike, adding an extra 2 miles to a 6 mile cycle ride! Still, he couldn't sell it after that and the EA refused to try for him. Karma indeed.

200yrs old? Lovely. I know people who will only buy new builds to avoid chains, but buying something of that age is just so special. And a cellar? It sounds lovely.

Any news Diege?

Hi! Well dh is ringing the soliticors now and hoping to find out what's going on (if anything). Will keep you updated!

Fingers crossed!

Arghh! Our solicitors have been trying to speak to theirs all morning but with no luck. They're now on lunch.. Nerves are wrecked...
Dh ringing as soon as we hear news.

I tend to think buying property brings out the very worst in people.

I think stunts like this are increasingly common - happened to my old neighbours too. In their case the EA took some off their commission to get the sale through.

Solicitors always seem to be mentioned when there is a delay of some description....

When I was selling my first house (years ago!) someone did this to me - my dad said to get on the phone to the EA and tell them if they did it again the price would go UP by the same amount.

Cheeky buggers didn't do it again.

Best of luck.

I am dissolving in a puddle of perspiration here...never has a lunch hour seemed so long. Will try ringing dh again at 2 if he doesn't ring back.

This is one of the things that puts me off selling.

Cheeky gits.

Woohoo party i'm not a million miles away either

Stop ringing them, they will think that you are about to concede defeat.

TBH I would feel like not allowing them to buy it just for creating this situation.

Go out and od something nice to take your mind off this, if they are going to go ahead anyway, they already know it, if they are holding, is because they can see you can be forced to reduce the price.

Hee hee yes, Bolton just up the road . I feel so light-headed, haven;t felt like this since waiting for midwife to ring with amnio-results. Need to get a grip I know!

Just coming on to say that BIOBYTES is so right and I we need to chill, when dh rang and WE HAVE EXCHANGED CONTRACTS They say they need 2 weeks until completion rather than the one we specified, but if they are trying it on (still) they'll lose their deposit (25 grand) so highly unlikely. D'you think it's safe to send out party invites just yet?

THANK F**k!

Hooray .

been watching...........very pleased for you

Woohoo!

(cheeky f*ckers)

Thank-you, you've all really made the last 24 hours or so bearable. Seriously, if anyone fancies popping in for a glass of champage when we get in drop me a line on [email protected]. Live in South Warrington)
Am going to treat myself to a mars bar in front of I'm A Celebrity tonight

Phew!
How are your nails? I'd have bitten all mine off.
Really pleased for you.

Hey great news congratulations! If I lived nearby I would pop over and help you celebrate!!

LIZZY, nails were gone weeks ago
MCDREAMY, I will raise a glass to you!
Tell you what though, the buyers certainly won't be getting a bottle of wine left for them! (unless we could organise a special mumsnet blend?)

Brill news - bet your glad you held your nerve - now get on with the packing