contracts nearly exchanged and then they changed the price!

GDB2222

One explanation is that the builders are getting desperate, as they are virtually bust. If they go bust, you could end up in a half-built estate or one where half the houses are unoccupied, even if built.

socrates

GDB2222 wrote: »

One explanation is that the builders are getting desperate, as they are virtually bust. If they go bust, you could end up in a half-built estate or one where half the houses are unoccupied, even if built.

That does not make sense it is the developer trying to get out of the deal by bullying the OP

russ21282

could they just be thinking " these guys spent time and money to get to this stage, we could get an extra few grand out of them"

I know they have quite a bit to lose if you pulled out, but if you have everything in place and have been waiting a while and had your heart set on it, a few grand over 25 years or whatever, wouldn't seem much and you would probably proceed. so from that point of you its quite a good gamble for them.

I've noticed it from a lot of EA's at the moment, we are in a good position to buy, but as soon as you sound interested and they know you have a mortgage in principle and deposit, somebody else has put an offer in a few grand more than the asking, despite the fact the properties have been on the market for a while.

Debt_Free_Chick

You've signed the contract - have they been exchanged?

What does the contract say about the price of both properties?

Edit: sorry, the heading states "nearly exchanged". In which case, you are down to renegotiation or backing out.

Cozworth806

Probably don't want to get lumbered with a property they still can't shift at £150k.
Even if that means not building it (of course not sure if they have built it in the intervening period)

GDB2222

socrates wrote: »

That does not make sense it is the developer trying to get out of the deal by bullying the OP

It does make sense if their lenders won't let the builders sell below a certain figure.

Darth_Marty

Counter their offer.

Say you have had another offer accepted and they have 7 days in which to respond to it. Your new offer is 150k for yours and 215 for theirs.

Robert_Sterling_3

you agreed in principle to buy the house.
Time has past.
You can now agree a new deal or drop out.
The seller probably needs the deal more than you do.

fitcrazy

Robert_Sterling wrote: »

you agreed in principle to buy the house.
Time has past.
You can now agree a new deal or drop out.
The seller probably needs the deal more than you do.

but i told them we would pay for another valuation on theirs and they told me i am wasting my money. I know they have knocked 10k off another potential purchaser too.
Its crazy. They chased me yesterday (a week later after giving me the rubbish offer) and i told them i was extremely disappointed in their company and thought they were being very unfair and that i wasn't happy with their offer. As its been 6 months now though and they are saying its not negotiable its a bit difficult and driving me insane after all this time as you can probably imagine!!!
thanks for your help

socrates

Has this matter cost you anything financially - is your deposit refundable?

Like I said make them the same offer they are making you £10k less - then walk away - quickly!