What are they playing at?

Eels100

OK, so here I am (in Scotland), found my first home, made an offer today of an amount previously agreed with the vendor (via EA). Vendor requested early entry so my solicitor explained I was an FTB, nothing to sell, gave entry date of 8 weeks time or sooner if at all possible.

House has been on the market for a few months now (in a fast-moving area), seller has been holding out for more money than was realistic. Now he has realised he will have to take less and wants rid of property quickly (so EA says, anyway!).

Offer was rejected :mad: on basis that 8 week entry date was too late!!!

I have no intention of agreeing on an earlier date because it would be cutting it fine if there's any glitches with the mortgage, and presumably expose me to some unpleasant repercussions if the funds aren't ready by then. However, if I get the mortgage sorted sooner I'd be happy to proceed earlier.

My instinct is to tell them to stuff it then - I like the house but am under no pressure to move right now, and have no intention of offering any more money. If they want to be idiots then they can keep it. Realistically, nobody except a cash buyer is going to be able to complete any quicker, and the average person with that much cash in their back pocket would presumably be looking for a slightly grander property! :rolleyes:

Do you think this is the right thing to do? Am I right to assume that they're trying to force my hand into making a higher offer? Both my mortgage arranger and my solicitor think the vendor is being unrealistic and reckon I should hang back. This is also my gut feeling, but I'm all too aware that everyone here has an agenda.

Plan for the moment is to go into EA tomorrow and tell them if that's the way it is then I'll withdraw the offer, and tell them to expect a call from my solicitor doing just that. Then I can sit back and wait. What do you think?

Ian_W

Don't know jack sheet about buying in Escotia but the final para sounds like a good plan.

Just out of interest have you forked out for a survey or was the offer subjec t to survey? And why do you think they want a higher offer when they rejected it over the entry date?

As a FTBer you're in a really good position, although I know "chains" aren't an issue for you unlike the rest of the UK, don't be pushed into anything particularly paying more than you think a property is worth. 8 weeks should be quite easily acheivable I would have thought but significantly less than that is probably pushing it somewhat.

nelly_2

Yep do what you want.

Tesco wouldnt demand you bought a bag of onions in the next 3 seconds or sod off would they?

I mean what are they going to do otherwise?

From the sound of it theres not exactly a queue of buyers hammering at the door

Eels100

Thanks folks.

I'm feeling really rubbish about all this - I don't feel like I'm asking much and they're making me feel like I'm not up to their demands. I left a message with the admin girl in the EA this morning, telling them I wasn't changing the date, but I think I'll ring and speak to the person I have dealt with up to now (something to look forward to - not!) to make clear that it's my way or the highway!

I really want this house, too ... :sad:

Wickedkitten

Unfortunately, by the fact that you are being so keen and actually did paid for a valuation before the offer was even accepted, I think they know you really want the house.

lynzpower

Dont the Scots have the HIP system type thing in place?

Eels100

lynzpower wrote:

Dont the Scots have the HIP system type thing in place?

What's HIP?

I do want the house, but surely the fact that my solicitor has made an offer makes that quite clear regardless of whether a survey has been done or not?

Plus, I want it, was happy to shell out less than £200 for the survey, but am not happy with either A) spending more than what I have offered, or risking penalties for failing to have funds ready at completion. If that's the case then I'll walk, and I mean it.

Can't see why they're being so awkward.

Wickedkitten

Eels100 wrote:

What's HIP?

I do want the house, but surely the fact that my solicitor has made an offer makes that quite clear regardless of whether a survey has been done or not?

Plus, I want it, was happy to shell out less than £200 for the survey, but am not happy with either A) spending more than what I have offered, or risking penalties for failing to have funds ready at completion. If that's the case then I'll walk, and I mean it.

Can't see why they're being so awkward.

You have to remember that the EA is working for the vendor, and when you are phoning them up every day (by your own admission in another thread) they more than likely are going to going back and tell that to the vendor and see if they can squeeze you for more money.

Just do like you said and tell them that you are going to withdraw and then leave it and play it cool. It's obviously going to carry more weight than if you say you are going to withdraw and then keep phoning them.

irnbru_2

Eels100 wrote:

What's HIP?

Home Information Pack

Gorgeous_George

It could that they need to move with a tighter timescale for a number of reasons. One would be to get a kid in the school that they want. Another would be that there's an operation appointment that means that 8 weeks is a particularly awkward time and sooner would suit them but later may mean they could look for a more lucrative sale.

They could just be being awkward and trying to squeeze you for more dosh. Only they know but perhaps you could ask them. They may wish to tell you and they may not. although a FTB is usually in a strong position it's no reason for them to sell at all costs.



GG

Eels100

Thanks to all. This has been a rental property, so one can assume it's costing the seller monthly while it lies empty and on the market. I feel they're just doing the awkward/more dosh thing (the same EA did the same thing to a colleague several years ago - he told them to shove it and enjoyed a stress-free purchase thereafter!).

My goodness, this has been a great advert for renting!