Can We Put In Lower Offer Than Originally?

Altarf

Bernie wrote:

If you do the deal in Scotland - it's a contract from the off, once you've both decided, the agreement is made and no further "complications" can arise to give grounds for further haggling and the stress that induces. ...

As a layman (currenly buying a house) I will never understand why we don't do the same in England - especially since it is the British thing to do...

The situation in Scotland is not the panacea it is made out to be. Properties in Scotland are frequently marketed on an "offers over" basis, so it is likely you will have a few people interested in the property. As it is a contract from the start, then you have to have a survey and legal work done before you make the offer (as afterwards is too late if it turns up anything dodgy). If more than one person is interested in the house that means at least one, and possibly many people, have wasted their money.

Even in England there is nothing to stop buyer and seller agreeing to a binding contract to pay the others costs if they pull out. Funnily enough nobody seems very happy to do that.

roma

kenshaz wrote:

This was the answer you wanted to hear ,but hex2 gave a good response and you did not thank that poster.so I have done it for you

Thanks hex2. Sorry I havent thanked you earlier but I havent been online since I origninallyposted last night, but it appears someone else has beaten me to it and done it on my behalf!

BobProperty

kenshaz wrote:

I have sold two houses in Spain,good system
and I have sold two houses in the UK,both stressful because of people like you.......

Stressful because of "people like me" - you don't know me and don't know what I do, so be careful with your comments.
I repeatedly make the comment about the house buying process because people don't understand the law and the system when it comes to buying houses. If you think that someone's word is good enough when it comes to the biggest purchase of your life, then you are wrong. That's not how the system works. That's not how the law works in England. You are not buying a leg of lamb you are buying property. I believe I understand the law and the system so it doesn't stress me that much.
The process is stressful because people say one thing then another, or add conditions, or change their price, or just pull out because they've changed their minds. It happens. There are threads on here about how to improve the system.
(and Spain "good system" - land grab and cash under the table to avoid tax, yeah, sounds a really good property system)

BobProperty

Bernie wrote:

Sorry! I think you've got that the wrong way round! I think this is the CAUSE of stress for both sides. Until contracts are signed, both parties are uncertain of the outcome.....

So if you know that to be the case why get stressed about it?

kenshaz

BobProperty wrote:

Stressful because of "people like me" - you don't know me and don't know what I do, so be careful with your comments.
I repeatedly make the comment about the house buying process because people don't understand the law and the system when it comes to buying houses. If you think that someone's word is good enough when it comes to the biggest purchase of your life, then you are wrong. That's not how the system works. That's not how the law works in England. You are not buying a leg of lamb you are buying property. I believe I understand the law and the system so it doesn't stress me that much.
The process is stressful because people say one thing then another, or add conditions, or change their price, or just pull out because they've changed their minds. It happens. There are threads on here about how to improve the system.
(and Spain "good system" - land grab and cash under the table to avoid tax, yeah, sounds a really good property system)

But we are not talking about law,this thread is fully aware of the stance of the law.

We are talking about standards and trust,it will never stress an individual who cares only about profit.

An analogy is a comparison

Your credentials are they based on career or experience?

Understanding the law ,does not prevent ,a vender in a chain ,deciding to demand a price increase prior to exchange of contracts.

BobProperty

kenshaz wrote:

But we are not talking about law,this thread is fully aware of the stance of the law.

Is it? Have a look at another recent thread on here, people do not understand how the law works, otherwise they, perhaps, wouldn't do some of the things they do.

kenshaz wrote:

We are talking about standards and trust,it will never stress an individual who cares only about profit.

Where did I say I was only concerned with profit? I'm not sure what the "it" in the sentence refers to. If you meant "they" meaning "standards and trust" then "they" won't stress Buddhist Monks either. What's your point?

kenshaz wrote:

An analogy is a comparison

Your credentials are they based on career or experience?

Understanding the law ,does not prevent ,a vender in a chain ,deciding to demand a price increase prior to exchange of contracts.

No it doesn't, but understanding that within the law they are doing nothing wrong and that this sort of thing can happen, means I'm a lot less stressed about it than people who think it can't happen or that it is against the law.

kenshaz

The law states that until contracts are changed we can change our minds ,now we do not need your expert advice.

My point is when I enter into an agreement it is final ,do we differ in that respect

We are dealing with this thread,and the question is clear .

Less stressed ,but still stressed by untrustworthy individuals

Bob please accept my apologies if the debate has made you despair,it is just debate .Take care .Ken

BobProperty

kenshaz wrote:

....

We are dealing with this thread,and the question is clear .

Less stressed ,but still stressed by untrustworthy individuals

.....

Are you getting all poetic?
You've had my advice, whether you wanted it or considered it expert.

"My point is when I enter into an agreement it is final ,do we differ in that respect"
No, but tell me what you think about people who pull out of buying in a chain so that the chain collapses, which, in the past, left me unable to purchase a property I had said I would buy. I have also had an offer to buy a property accepted then rejected by the owning Building Society, so much for integrity.
Are you a stockbroker?

aloiseb

This is all getting very silly.Surely one of the reasons offers are put to vendors by estate agents, and not personally, is so that people don't have to deal face-to-face with each other in a situation where feelings may run high...there's a lot of emotional stuff attached to selling a home, after all.

Selling a house is a business transaction. You can do whatever you like with your offer, raise it, lower it, or withdraw completely, and we don't have to be all wild-west about the consequences, because the vendor is entitled to the same privilege. The deal is not "shaken hands" on until the contract is actually signed. I know they have a different system in Scotland and possibly it is a better one, but in England for the moment we have this one, and we have to live with it.

So everybody just has to be grown up, and accept that an "Offer" is technically no more than an expression of interest with a figure on it, which may have to be adjusted for whatever reason - could be genuine, or just plain skulduggery - it doesn't matter.

Phew! - I shall probably lose my buyers next week and be discovered climbing the curtains, having got that off my chest!

kenshaz

I'm a poet and i did not know it.
Advice was fine.
I understand your perspective,and we do not differ,the problem is not us ,but others.