Seller asking for 7k more days before exchange/completion?

GDB2222

typeractive wrote: »

"Originally Posted by GDB2222
Prices are up a tad since October though, according to the house price indices."

Without sounding rude - so what? The agreed deal was the agreed deal.

The usual is to exchange within around one month. If it's taken significantly longer it's not unreasonable to allow for the change in price. From a moral point of view that raises issues about whose fault the delay was. However, from a purely practical POV, it's much simpler than that:- If the buyers pull out now they should expect the alternative houses to be that tad more expensive. Equally, if the seller puts it back on the market she can hope/expect to get that tad extra.

I agree, though, that the reason the seller gave is largely irrelevant, except it may explain the delay that has occurred.

laughingcow81

magga2000 wrote: »

Seller had been v.slow responding to all enquires (1 month for initial one) and some all still not responded. But we would probably still go ahead as the house was the best we could find for this money but not a a higher price the bank evaluated the property at 117k?

Also, if the bank valued the property at £117k that means they wouldn't lend you more money.

As others have said, I'd be prepared to walk away.

not_loaded

Probably too late to throw this in now, but one way to tackle the ‘weepy negotiator’ is by responding in precisely the same way.

WN: Oh no, the fence blew over and squashed the cat. My neighbour forced me to sort the fence out, and the funeral for the cat cost loads. We had to send the kids to Disney to get over the stress of it all. We’re £7,000 short now!

YOU: Oh heck, I’m so sorry to hear that. It just seems like problems happen all at once doesn’t it? We were just about to come to you as we’ve REALLY run into problems. [explain YOUR sad problems – mention the resulting cost]

Walk away, leaving box of tissues…

DVardysShadow

princeofpounds wrote: »

Although I think DVardys has precisely the tone of reply they deserve, I would go for a less emotional style of hardball and leave out the bit about sick relatives!

There is a reason for it. The sick relative is totally irrelevant and a truly professional agent would make the case for the increase in price without mentioning it - or would only mention it under heavy pressure from the client.

I think it is a good thing to crack the whip over the agent for this kind of approach, both generally and for this transaction. I wouldn't hesitate. If the Agent only did it under heavy pressure, the message will go back that the sick relative went down like a lead balloon - which is what you want with this kind of seller.