Is anyone moving now?

[normalbloke]

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Edited by C70R on Friday 8th July 19:12

It’s called ery, for good reason.

[C70R]

normalbloke said:

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Edited by C70R on Friday 8th July 19:12

It’s called ery, for good reason.

Don't feel too bad for the vendor. He's made a packet in equity and 80k in Airbnb rental in the last 18mths. He'll be fine.

[Wildfire]

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Essentially you're looking to gazunder?

Business is business, but gazumping and gazundering is not well regarded and an all round a sy thing to do to people. We've been on the receiving end of it on one offer and basically told them to do one and we went with another buyer. Same thing happened to our current vendor, how we ended up with what we are trying to buy.

I guess it all comes down to whether you are comfortable with doing it to someone, who is already having a bad time of it? It could be said that this is the perfect time to do it to them - playing devil's advocate.

If your mortgage is expiring and you are looking at a new deal, at worse rates then this is a bit different. If external circumstance dictate rising costs then explaining this and looking to make it affordable, I would see no issue.

Same end result, different reasoning.

[Portofino]

I’m in a bit of a situation.

All going slowly for a 3 people chain as usual but my mortgage for the house I’m in now runs out at the end of July.

I fixed this rate 3 years ago, when the end of July arrives and I land on the variable rate I’ll be paying £600 a month extra…..

Deep joy.

[skwdenyer]

Jules Sunley said:

It's all about predicting future rates and how long they may take to rise rather than a fixed difference. So if a lender thinks rates may go up a little bit for 2 years but more in 3 years then 2 and 3 year fixes may be similar but a 5 year fixed would be more etc. They don't want to lock you in past when they could have been charging you more unless you pay for the privilege in the interim.

I think it's more nuanced than that. If they're borrowing on the wholesale money markets, the chances are their cost of money will be relatively fixed over the period they're offering you.

In reality, I suspect they're pricing the longer fix at whatever price they think you'll pay to avoid the risk of a higher rate down the line. So it will be driven as much by consumer sentiment / fear as it will be by any serious equation of their actual cost of money in some years' time.

I don't think people are quite ready to think about the possibility of really big increases in 2-3 years' time right now.

[leef44]

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Edited by C70R on Friday 8th July 19:12

My thoughts are you are being a nasty piece of work. You had a deal. He is rich, You are rich. You don't need it to be cheaper but you want to try it on even though you had agreed the price and you feel it is a unicorn.

Just stick with the deal you agreed. But maybe that's why I'm not rich..lol

[Toaster Pilot]

C70R said:

Don't feel too bad for the vendor. He's made a packet in equity and 80k in Airbnb rental in the last 18mths. He'll be fine.

Hopefully he’ll tell you to fk off if that’s your attitude. Buying and selling houses is enough of a pain in the arse without this level of sthousery.

[Wildfire]

Portofino said:

I’m in a bit of a situation.

All going slowly for a 3 people chain as usual but my mortgage for the house I’m in now runs out at the end of July.

I fixed this rate 3 years ago, when the end of July arrives and I land on the variable rate I’ll be paying £600 a month extra…..

Deep joy.

We were in the same situation, albeit a bit earlier and best case scenario we were looking at being on the standard rate for 3 months. We switched to a tracker, but with no early repayment fee. We calculated that even with the application fee, if our process took more than 3 months, we would still be way better off.

[normalbloke]

C70R said:

normalbloke said:

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Edited by C70R on Friday 8th July 19:12

It’s called ery, for good reason.

Don't feel too bad for the vendor. He's made a packet in equity and 80k in Airbnb rental in the last 18mths. He'll be fine.

I have no interest in the vendor’s situation , it’s irrelevant. This is about you, and shows exactly who you are.

[spikeyhead]

C70R said:

Don't feel too bad for the vendor. He's made a packet in equity and 80k in Airbnb rental in the last 18mths. He'll be fine.

If you tried to knock me for a penny after agreeing the price, you'd lose.

[HRL]

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Edited by C70R on Friday 8th July 19:12

Are you prepared to lose the house? Because there’s every possibility that the seller could turn around and tell you to do one.

It’s not a nice thing to do as you already made your offer that was accepted. Would you take a reduction on your own sale if you were in his shoes? Or would it rub you up the wrong way?

[Sheepshanks]

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

My reading of all your posts on your house search was that you were not really bothered whether you found something - you were somehow detached from the process. I wonder if now it's come to the crunch your feet are getting chilly and you're looking for a way out?

[SIMON67]

Toaster Pilot said:

Hopefully he’ll tell you to fk off if that’s your attitude. Buying and selling houses is enough of a pain in the arse without this level of sthousery.

Agree completely - just be decent otherwise karma will bite you in the arse

[bad company]

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Edited by C70R on Friday 8th July 19:12

Dreadful decision which would leave everyone feeling sour about the deal.

Have some self respect and stick to the deal you shook hands on.

Edited by bad company on Friday 8th July 21:46

[Muzzer79]

C70R said:

normalbloke said:

C70R said:

We're on the verge of exchanging (last bits of paperwork being done), and I'm contemplating throwing a slightly lower offer at the buyer. Curious if the experiences of those who've done the same...

For context, the house is an absolute unicorn (I haven't seen anything comparable for less than 1m in two years of looking), to the extent that I think it's relatively downturn-proof (<300/sqft). The buyer needs to sell (relationship break-down) and is getting increasingly erratic/needy about our exchange.

We're in a good position with this being a second home, and having no chain (we're not selling, he's moving in with family), and being relatively expensive I think the prospective audience is reasonably small. We've only ever bought one property each, and both were simple asking price purchases 8-9yrs ago, so have no experience of haggling.

We made our original offer in April and don't need it to be cheaper, but I'm always open for a bit of negotiation. Thoughts?

Edited by C70R on Friday 8th July 19:12

It’s called ery, for good reason.

Don't feel too bad for the vendor. He's made a packet in equity and 80k in Airbnb rental in the last 18mths. He'll be fine.

Regardless of the vendor’s position, it’s still a stty thing to do

A deal is a deal. Stick to your deal. It’s the right thing to do.

[healeyfan]

If you did that to me I'd tell you to get stuffed. Just because our wonderful leader doesn't seem to have any morals
doesn't mean the rest of us haven't.

[okgo]

The agent will tell you to fk off. They’ll threaten to re market tomorrow. If it’s as good as you say, they’ll sell it easily again.

Unless there’s something tangible to attach it to or that’s really bothering you I wouldn’t bother. I tried similar and it didn’t go well. And I had some better reasons than ‘just because’

[C70R]

Jesus. Some very sensitive folks here. I'll bear that in mind.

It's a deal on an asset of variable value, put simply. If that value varies during the period of the deal, I'd expect the negotiation to reflect that. That's how almost every other area of life works.

I don't need to make it cheaper, but I quite like getting a good deal

It's hardly the crime of the century, or so I'd thought...

[healeyfan]

" It's only business".

[pb8g09]

C70R said:

Jesus. Some very sensitive folks here. I'll bear that in mind.

It's a deal on an asset of variable value, put simply. If that value varies during the period of the deal, I'd expect the negotiation to reflect that. That's how almost every other area of life works.

I don't need to make it cheaper, but I quite like getting a good deal

It's hardly the crime of the century, or so I'd thought...

A good deal for the seller would be to cut you loose and sell to someone else if you tried that. He could make some more Airbnb rental whilst he sold to someone less of a weasel