Reducing offer price at last minute before exchange

GrammarGirl

Soubrette wrote: »

One of the strongest pressures in society is peer pressure - by expressing strong disapproval of an action, society can influence the actions of the people within it.

I suppose my definition of showing disapproval pretty much equates with your definition of being attacked.

Why would I show respect to someone who is not showing respect to someone else?

Sou

Two wrongs don't make a right, though. The OP isn't disrespecting you personally, so why should you (you in general terms as I know you particularly haven't said anything I'd consider unfair) disrespect him personally? Unless you're the unsuspecting seller...

I understand the strength of feeling in this thread. There are obviously many people who have suffered as a result of gazundering. I just find some of the comments a little OTT. Maybe that's due to my limited understanding of the topic or distance from the emotion. Anyway, I think we've slid off topic a bit - I've got no advice or opinion to offer so will let others continue posting now.

Soubrette

GrammarGirl wrote: »

Two wrongs don't make a right, though. The OP isn't disrespecting you personally, so why should you (you in general terms as I know you particularly haven't said anything I'd consider unfair) disrespect him personally? Unless you're the unsuspecting seller...

I understand the strength of feeling in this thread. There are obviously many people who have suffered as a result of gazundering. I just find some of the comments a little OTT. Maybe that's due to my limited understanding of the topic or distance from the emotion. Anyway, I think we've slid off topic a bit - I've got no advice or opinion to offer so will let others continue posting now.

Because it might be me that unwittingly gets to do business with him next time

My philosophy is a rather churlish treat others as they treat others.

Sometimes I'm fooled as my default position is to assume mutual respect but if they show me that they have no respect for others then although I will be polite then they deserve no respect from me. Worse for someone who's philosophy is treat others as you would wish to be treated - if I came across the OP in business I would have little conscience in ripping him off (legally of course ), whereas someone of a more kindly disposition would get my full help and fair mindedness.

We should discuss this in the Arms

Sou

themanbearpig

Well done to the OP.

Seriously, just do what needs to be done to get the best deal. I also wouldn't give a flying frog about the vendors feelings in a house purchase. Its bad enough FTBs have to pay these silly overinflated prices, let alone then have to make 'moral' decision to please the vendors.
They probably bought the house for £50k back in 2000, and now suddenly is 'immoral' to want to pay as little as possible.

For the people asking why he waiting until the last day, its blatantly obvious; POWER. He will have much more negotiation power trying it on, on the day before exchange, especially with so many people relying on it.
The vendors will practically be forced to accept. Its the same reason people get better deals when buying from divorcees and deaths. No one is throwing their hands in their air and shouting immoral, when people put in lower offers when vendors are in vulnerable positions.


The people that are strongly against this are completely deluded hypocrites, and have no idea about how the world works.

moggylover

mike5678 wrote: »

The valuation carried out that I paid for on behalf of my mortgage company valued the property at £180k, he however, already knew the agreed price of £180k before making that decision. That was carried out a couple of weeks after this valuation is dated, paid for by the vendor for his own reference.

The vendor knows that my valuation came back at £180k. He also already knew that his valuation came back at £170k when he put it on the market with his estate agent for £198k.

I am in the driving seat here as I have been pestered constantly by the estate agent as the vendor is very keen to move and the chain is waiting on me to exchange before the ones above can.

I think if I was to say I will pay £170k the sale would fall through as a £10k hit I think is too much for them to absorb. At £175k I think that they would begrudgingly accept due to the urgency.

You know, all you are really trying to do here is make other people tell you that you are doing the right thing in gazzundering!;)

YOU offered a price, YOUR valuer (for the Bldg Soc I presume) agreed with that price. YOU have gone along with it all this way along, and now you think it is okay to change the offer price basically because you can, and because you feel you have them over a barrel! If you wanted it cheaper then you should have negotiated cheaper at the time, to try it on at this late stage lacks integrity.

If one asks 5 different estate agents, or 5 different valuers/surveyors to value any house/flat then there will often be 5 or 10 grand differences in their opinions.

Personally, I feel that having offered and agreed the price this long I would not be looking to renege on the agreement at this late stage.

moggylover

themanbearpig wrote: »

Well done to the OP.

Seriously, just do what needs to be done to get the best deal. I also wouldn't give a flying frog about the vendors feelings in a house purchase. Its bad enough FTBs have to pay these silly overinflated prices, let alone then have to make 'moral' decision to please the vendors.
They probably bought the house for £50k back in 2000, and now suddenly is 'immoral' to want to pay as little as possible.

For the people asking why he waiting until the last day, its blatantly obvious; POWER. He will have much more negotiation power trying it on, on the day before exchange, especially with so many people relying on it.
The vendors will practically be forced to accept. Its the same reason people ask get better deals when buying from divorcees and deaths. No one is throwing their hands in their air and shouting immoral, when people put in lower offers when vendors are in vulnerable positions.


The people that are strongly against this are completely deluded Hippocrates, and have no idea about how the world works.[/QUOTE]

I am not the least deluded about how it has come to work in the last 20 years or so! That honesty, integrity and decency have long since gone down the toilet in the pursuit of greed and money is hardly something any of us old enough to remember those values can miss!

Since that has sincerely NOT improved the World in which we live one iota do you really think we should just carry on condoning it?

undetterred

Hippocrates,was'nt he a greek philosopher.

Blacksheep1979

Soubrette wrote: »

Because it might be me that unwittingly gets to do business with him next time

Then surely you are no less selfish then the op - you're just interested in you not getting 'shafted' at some point. Maybe the op feels they are being hard done by as the price they thought the property was worth isn't correct.

Soubrette

undetterred wrote: »

Hippocrates,was'nt he a greek philosopher.

I wouldn't swear on it

Sou

themanbearpig

undetterred wrote: »

Hippocrates,was'nt he a greek philosopher.

lol, corrected.

I blame the spell checker.

Fella

eyegeegeewhy wrote: »

Oh and one more thing. If the vendors found someone willing to pay 10K more than you do you think they would be having this moral dilema? They would snap it up in a second

Absolutely no way to know if that's true. There are many people out there (I'm one of them) who wouldn't even consider acting like that.


Interesting just how many people have no notion of their word being their bond anymore.