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bluffing or not?
Nikki
Posts: 775 Forumite
We are in the house buying/selling process and are getting close to exchange/completion. Today I had a phone call to say that our sellers want us to complete on the 12th or they'll pull out! Our buyers want to complete at the beginning of march. We are buying from a company called McCarthy and stone (not a new house) and they claim they have a back up cash buyer that can complete by the end of Feb. Solicitors away but her 2nd in command thinks it's a bluff, I'm not prepared to take that risk so currently awaiting news from the buyers end to see if they can move now. I kind of think bluff because they are a manangement company - if a cash buyer really exists why didn't they go with them in the first place. Any thoughts?
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RE the cash buyer wating? Oldest and most oft used bluff ever! .. Imagine you're a cash buyer, you're in the STRONGEST position possible at the moment, .. would you reallt be sat on your bum twiddling your thuumbs in the hope of a particular sale falling through so you can jump in when there are a gazillion other properties out there and vendors who'd snap your right arm off if you offered?
Perhaps only if the property was a palace, and the only palace in the area perhaps.0 -
They're bluffing - let them pull out, they'll come back beggingpoppy100
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Bluff.
OOo can we get some cards made like on that gameshow!
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My EA said they're bluffing and the EA the other end was talking like the market was booming over there (it's not). My EA has previously been a selling agent for the said company and knows how they work. They have agreed to exchange on the 12th and complete 2 weeks later! However last night our buyer decided they could no longer afford to buy - after stringing it out for 3 months. Basically if their mortgage was 25k less they'd be ok, so we had to agree to reduce 25k to keep things on track. That's 90k under asking price or a 30% reduction now and less than we paid for it, I doubt McCarthy and stone will drop anymore.0
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