Estate agent and Vendor trying it on....
Discussion
thebraketester said:
MOBB said:
Personally I wouldn't want to deal with a vendor like that, what else might they do nearer exchange?
I agree.. and this is a concern. I have suggested that they still keep looking at houses and see what happens.wolf1 said:
Play them at their own game. The day contracts are about to be exchanged and they have more than likely committed to their own new purchase drop your offer by 10k.
Has anyone actually done this? This line is often touted on these kind of threads - and I fully support the sentiment - just wondering how it played out?paolow said:
wolf1 said:
Play them at their own game. The day contracts are about to be exchanged and they have more than likely committed to their own new purchase drop your offer by 10k.
Has anyone actually done this? This line is often touted on these kind of threads - and I fully support the sentiment - just wondering how it played out?paolow said:
Has anyone actually done this? This line is often touted on these kind of threads - and I fully support the sentiment - just wondering how it played out?
It happened to us , for the same amount .Selling to a solicitor I expected better.. my wife wanted to lose the sale, but it was 9 years ago when the market was crashing so I just soaked it up.
The neighbours were from hell and I was just glad to see the house gone, plus we had a great deal on the house we now have..
Remind your SiL that she's in the strongest house buying position that she'll probably ever be in - as a FTBer she has no chain to worry about, not reliant on selling somewhere. She could stick to her guns and worst case is she doesn't buy that house and goes back to searching.
I sort of did this. Discovered all manner of structural issues with the place (loft conversion, extension, and renovation had no building regs approvals and were not done to standard). Very rough estimates from builders and a structural engineer were in the range of 10k to 15k of building work to bring it up to scratch. I went back to the vendor and asked for 10k reduction, but as far as they were concerned there were no problems since it hadn't fallen down! They were quite clear that they would not reduce the price.
The vendor was in a chain, and had already been making noises about me (my conveyancer actually) being slow and holding the chain up - I'd been told that if we hadn't completed by a certain date that the entire chain would collapse and the vendor would also pull out of the sale to me, and we were getting quite close to that date. I sat on it for about a week (mainly because I couldn't decide: proceed at the original agreed price or pull out). Then the vendor came back and offered a price reduction of 5k, today only offer, must exchange and complete within 10 days. I accepted that, even though I had the vendor completely over a barrel - if the sale to me fell apart they had no hope of completing a sale to someone else in time to avoid missing out on their 'dream home'.
paolow said:
wolf1 said:
Play them at their own game. The day contracts are about to be exchanged and they have more than likely committed to their own new purchase drop your offer by 10k.
Has anyone actually done this? This line is often touted on these kind of threads - and I fully support the sentiment - just wondering how it played out?The vendor was in a chain, and had already been making noises about me (my conveyancer actually) being slow and holding the chain up - I'd been told that if we hadn't completed by a certain date that the entire chain would collapse and the vendor would also pull out of the sale to me, and we were getting quite close to that date. I sat on it for about a week (mainly because I couldn't decide: proceed at the original agreed price or pull out). Then the vendor came back and offered a price reduction of 5k, today only offer, must exchange and complete within 10 days. I accepted that, even though I had the vendor completely over a barrel - if the sale to me fell apart they had no hope of completing a sale to someone else in time to avoid missing out on their 'dream home'.
Personally I'd tell them you can't afford it
People are dicks, if you let them walk over you they will
If you are not that far in, I'd advise to vote with your feet
First time buyers are what everyone wants
If you give in now, who knows what they will try
If you are really mean, stop the process but don't let them know
People need to learn a lesson
All of the above advice is easy to give when it's not yourself in the postiton of course
People are dicks, if you let them walk over you they will
If you are not that far in, I'd advise to vote with your feet
First time buyers are what everyone wants
If you give in now, who knows what they will try
If you are really mean, stop the process but don't let them know
People need to learn a lesson
All of the above advice is easy to give when it's not yourself in the postiton of course
Busa mav said:
paolow said:
Has anyone actually done this? This line is often touted on these kind of threads - and I fully support the sentiment - just wondering how it played out?
It happened to us , for the same amount .Selling to a solicitor I expected better.. my wife wanted to lose the sale, but it was 9 years ago when the market was crashing so I just soaked it up.
On her subsequent house purchase a couple of years ago daughter wanted to do it too as the survey had some iffy bits but she couldn't bring herself to.
thebraketester said:
Latest is the vendor has accepted a 305 counter offer.
I fear this won't be the end of it.
You really really have to emphasise to your sister now that this is it. Regardless of how deep they are in the process, and not only that, she has to convey that to the estate agent. At this point now, the estate agent really is on her side a bird in the hand is worth two in the bush to him now. As above, he doesn't want weeks more viewings for £50 more.I fear this won't be the end of it.
It would boil my p1ss to have countered frankly.
HotJambalaya said:
thebraketester said:
Latest is the vendor has accepted a 305 counter offer.
I fear this won't be the end of it.
You really really have to emphasise to your sister now that this is it. Regardless of how deep they are in the process, and not only that, she has to convey that to the estate agent. At this point now, the estate agent really is on her side a bird in the hand is worth two in the bush to him now. As above, he doesn't want weeks more viewings for £50 more.I fear this won't be the end of it.
It would boil my p1ss to have countered frankly.
.HarryW said:
Tell her to move on, what will happen when someone else offers 307.5.....
Exactly, the fact that the vendor has settled for less shows its just greed as opposed to a rival offer. If it were a "word is my bond" type of vendor this whole thing wouldnt have arrisen. I reckon its 50:50 that the vendor is going to come back for another bite of the apple with a phantom "better offer" or just last minute dicking around.Could be worth demanding a lockout contract.
Similar scenario. My son, a first time buyer, was first to view house and immediately offered asking price. Vendors came back next day asking for 5k more to take property off the market. I told him that's because he was too keen and he should have waited. He went ahead and agreed to the extra 5k. He then went round to see them after they had accepted and just as he was leaving a hand written note popped through the letter box. Turned out to be from a distraught lady who was upset that they had turned down her offer of 10k more! My initial thoughts were that this was a setup but he said no way. Purchase went through without any problems as they turned out to be the nicest people to deal with.
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