Buyer needing advice..

mlz1413

Cashsaver wrote: »

Think i may be done on this one. They wont go any lower than 160k, i wont budge on 157k.
I know its only 3k but i just cant.

Gonna hold off til Monday and just say thats my best and final and see what happens. Bit gutted but i'm sure i'll get over it.

I wouldn't ring them Monday let them come back to you, which they will do when they realise that no one is tripping over themselves to buy a house with no prospect of moving into for 18 months.

I'd just accept that the buyers are being unrealistic and view other places, you after all have time on your side.

Cashsaver_3

I will take your advice and not bother ringing then.
I have no idea how many viewings (if any) they've had recently but knowing its been on the market since Oct/Nov 08 and many more the same in this area makes me think not many- going on how slow propety is moving around here.

I'm not going to bother looking at anything else. If they get back with an acceptance on 157k then fine but if not, i will ride my current mortgage out (10 more months) and see where that takes me.

Will keep you posted if they back down.

Cashsaver_3

I still dont have a definate answer as yet but the EA called yesterday asking if 157k was the best and final.
I stuck to my guns and said yes it is.
Anyway he called the vendor (whos best and final is 160k) and she is going to discuss it again with her OH so we should hear for definate and final by the end of the week.

I so want this house now. I cant get it out of my head. I've never had this feeling about a house before.

Still, as i already said, 157k is my max so i may 'lose' it.:(

mlz1413

Well done for sticking to your guns and fingers crossed for you.

This house has a lot of things to be written into contracts and so lots of hurdles to tackle yet, I know this is hard but try and remember that if it is meant to be it will happen and if its not then it won't and something better will come along.

Cashsaver_3

Update.... The EA got back to us today and said the vendors now wont go lower than 159k and will sign a 1yr rental contract for £200 less that we'd require. Now this is where (i think) they are talking th p***.
4 bed/2 bath properties are being let for between 1050-1100 in this area and they offered 800??? And still 2k more than we will go.

So we've walked away. I do so very grudgingly but i wont be taken for a ride.
Things might have been a little different if we were desperate to move ourselves but since we're not, we will just carry on overpaying our mortgage, still with a nice place to live.

Thank you everyone who advised us on this.

Thrugelmir

Cashsaver wrote: »

Update.... The EA got back to us today and said the vendors now wont go lower than 159k and will sign a 1yr rental contract for £200 less that we'd require. Now this is where (i think) they are talking th p***.
4 bed/2 bath properties are being let for between 1050-1100 in this area and they offered 800??? And still 2k more than we will go.

So we've walked away. I do so very grudgingly but i wont be taken for a ride.
Things might have been a little different if we were desperate to move ourselves but since we're not, we will just carry on overpaying our mortgage, still with a nice place to live.

Thank you everyone who advised us on this.

They well regret their decision. You may yet have the last word. I would sit tight and watch .

mlz1413

Its such a shame the vendors can't see a good deal, but they can't so it's their loss.

I think you may well get another chance nearer to them moving and hopefully for you there will be no rental contract then.

Enjoy your weekend and the enviable position of being able to pay your mortgage off within 12 months.

Cashsaver_3

Aren't EA's funny?

The last update on this was that there was a 2000 pounds buying stalemate and a 200 pounds rental stalemate on this property.

We gave our best and final and they came back with a no. So i started to forget about it.

The EA called yesterday telling me he had an idea about writing to the vendor to get a compromise so we both agree on 158k and 900 pounds rent.
He was ALREADY drafting the letter without speaking to us!! I mean what part of best and final didnt he get?
I told him again out best and final was 157k with 1000 pounds rental.

I know they want to sell the properties but its as if we were an after thought.

And to top it off hes now got it dominating my every waking thought!! :mad:

00ec25

can't fault the EAS for trying - it's obvious yours is the only game in town and the EA knows its the only way they will get their commission before their contract with the vendor expires and the vendor possibly moves to another EA

stick to your guns

Cashsaver_3

Some of you knew i'd be back posting here, for the reasons you all predicted.
I received an email from the vendor today trying to get me to compromise on buying the property.
I really suspect i am the only party showing any interest at all which is good for me.

Anyway, they have agreed to 157k but are asking for the rental to be 950pcm instead of 1000pcm.
I feel now that if i dig my heels in too far, the propety might be lost completely. I already know i can afford the repayments on both propeties should it take us a while to sell ours when the time comes.

I have a little more 'financing' to do but this maybe it. We may well be on the road to buying our dream home.

I will keep this thread updated on progress......or not as the case may be.