Help - being gazundered.

RedSquirrel

We sold our house at a very much lower price that it was on the market for, as we had found a house that was quite cheap, and therefore it was do-able. However, this is was all going through when our buyer turned up at our front door and said he was dropping his offer by £12,500, after playing games, this then became £10K. Then the house we were buying was taken off the market and as there as nothing else in our price range, it was 'all off' our buyer then went back up to £2500 below his original offer and we managed to secure another house.

Yesterday we were due to exchange, and he 'then' dropped his offer by £10K .. again!

He has now said he will meet us in the middle at £5K, but he doesn't want his solicitor informed as he doesn't want to have to get his mortgage approved again, so wants us to hand over £5k on completion.

We have really scrapped to get the house we are buying as it is over £50K more than the one we were buying and simply don't have anymore funds available.

It has been suggested to us, that we agree, given him a post dated cheque for the day after completion, and then cancel it.. could we do this? There is nothing in writing, it would be a purely verbal agreement, obviously non of this is ethical, and we really don't know at this point what to do.

We are now due to exchange, hopefully, later today.

Would appreicate any advice you have.

Thanks.

ginvzt

Give a call to his solicitor. It is illegal not to inform the mortgage provider of the change in the price as they may not want to lend higher LTV to the particular individual.

Doozergirl

I'd do what you'd do. You can cancel a cheque before you've even written it. Cancel the cheque before you give it to him and date it for when you like.

Or simply tell him that you don't have that money until he's completed and promise to give him cash. And disappear You'll have to be out of the house quick smart on moving day, if not before. The cheque might be evidence of a contract to pay him, even if it were cancelled.

Serves him absolutely right. Get your mail redirection set up and ready to go so you don't need to go back there.

I cannot believe that not only is he gazundering, but he's defrauding his mortgage company and wants you to hand him cash :rotfl:

Captain_Mainwaring_2

Most banks refuse to take any notice of the date on a post dated cheque, therefore he could bank it before and get it cleared.

Whilst the guy isn't being that fair to you, you could find yourself in very hot water by stopping the cheque.

The whole thing stinks anyway, he is obviously going to pocket and additional 5K as a cas advance from the BS, possibly he has had to borrow the deposit and this goes some way to paying it back.

Doozergirl

ginvzt wrote: »

Give a call to his solicitor. It is illegal not to inform the mortgage provider of the change in the price as they may not want to lend higher LTV to the particular individual.

Resulting in a lost sale for the OP perhaps?

Captain_Mainwaring_2

Doozergirl wrote: »

I'd do what you'd do. Cancel the cheque before you give it to him and date it for when you like.

Or simply tell him that you don't have that money until he's completed and promise to give him cash. And disappear You'll have to be out of the house quick smart on moving day, if not before.

Serves him absolutely right. Get your mail redirection set up and ready to go so you don't need to


I cannot believe that not only is he gazundering, but he's defrauding his mortgage company and wants you to hand him cash :rotfl:

Yeh, bright idea, then put up with 10 years of broken windows and slashed tyres.
Of course he will find you.

RedSquirrel

The cheque would be held by the EA, therefore he wouldn't get it until after completion. My solicitor is aware, and she 'thinks' cancelling the cheque is the way to go, but has not had a case like it before so is unsure of the back lash.

Captain_Mainwaring_2

RedSquirrel wrote: »

The cheque would be held by the EA, therefore he wouldn't get it until after completion. My solicitor is aware, and she 'thinks' cancelling the cheque is the way to go, but has not had a case like it before so is unsure of the back lash.

Your solicitor is a fricking idiot and should be barred from practice.

Doozergirl

Captain_Mainwaring wrote: »

Yeh, bright idea, then put up with 10 years of broken windows and slashed tyres.
Of course he will find you.

If they're moving next door it's going to be an issue. If they're moving far enough, how does he find them?

It's only playing him at his own sordid little game, IMO.

RedSquirrel

Unfortunately we live in quite a small area, and won't be that far away.

Captain_Mainwaring_2

Doozergirl wrote: »

If they're moving next door it's going to be an issue. If they're moving far enough, how does he find them?

It's only playing him at his own sordid little game, IMO.

Well, I can assure you that I would find you for 5K if you had happened to wrong me.

Did you not read what happened to Emmarbos, and she didn't do anything to anyone.........

Let her go ahead with this gravy-brained plan, I'm looking forward to another emma thread.