Property Advice

[guyh]

Chaps,

I sold an investment flat I have to a quick buy company in October last year, they agreed to pay obviously a bit below market value so I accepted and the process started going through until last week when the completetion date was set they said "oh the bank won't lend us any more than £65k now" nearly half the price of the flat!

Now I'm no idiot which I assume they think I am.

I presume they are just trying to prey on distressed sellers? I obviously rejected the offer and they said oh we will see what the bank says on Monday.

Being taken for a ride at the last minute? As they are paying my legal fee's and have thousands outstanding, I assume they will resort back to the original price?

Thoughts?

[jas xjr]

nothing to stop you selling it elsewhere at a better price,if you can. dont let them bend you over.stick to your guns .

[silver.fox.2008]

guyh said:

Chaps,

I sold an investment flat I have to a quick buy company in October last year, they agreed to pay obviously a bit below market value so I accepted and the process started going through until last week when the completetion date was set they said "oh the bank won't lend us any more than £65k now" nearly half the price of the flat!

Now I'm no idiot which I assume they think I am.

I presume they are just trying to prey on distressed sellers? I obviously rejected the offer and they said oh we will see what the bank says on Monday.

Being taken for a ride at the last minute? As they are paying my legal fee's and have thousands outstanding, I assume they will resort back to the original price?

Thoughts?

Tell them you may have an alternative buyer also and if they are interested then they need to move fast. Seeing as they have already dished out thousands then i think they are just trying to get it as low as possible.

[guyh]

Thank you for you opinions much apprecaited. Yes I have mentioned another buyer which is actually correct and the company buying the property said how much would you take out of interest, I said well the price we agreed!!

[BigAlinEmbra]

Tell them you'll take the 65k and hang onto it and the flat till they come up with the rest. The interest should compensate you for your wasted time.

[catcha]

A quick buy deal in October and you were only completing in Feb/March? Hardly quick....