Gazundered at last minute!!

BLT_2

Pete111 wrote: »

OP hold your nerve

The second fax shows hers are clearly shredded (+ yes, she does sound a bit mental) and it's a good bet she will capitulate.

Only problem being that if she is that mental she may come up with some new idea which scuppers it further. In the last 2 days she has mentioned that she doesn't know about stamp duty, made 2 reduction offers within minutes of each other.

Whats next? And as the OP states, everytime she comes up with a new proposal a new contract has to be written. Who actually pays for the new contracts?

Pete111

BLT wrote: »

Only problem being that if she is that mental she may come up with some new idea which scuppers it further. In the last 2 days she has mentioned that she doesn't know about stamp duty, made 2 reduction offers within minutes of each other.

Whats next? And as the OP states, everytime she comes up with a new proposal a new contract has to be written. Who actually pays for the new contracts?

This is true. But if the OP holds out and (if) they exchange then its all locked in. After this point the mentalist can wriggle all she wants but the sale will still (99.9%) happen.

There was a previous thread by a poster called Welshwoofs who had a seller try to renegotiate/pull out after exchange. WW (as the buyer) got 30k in damages as I recall. The damages work both ways so once exchange is sorted most of the mucking about ceases also I believe.

Update OP?

Gwhiz

What's the latest OP?

Orpheo

Milliewilly wrote: »

I am not one to defend Estate Agents however that is a load of rubbish. Every Estate Agent I have dealt with as a seller (and that's a lot) have been RICS qualified.

I too have sold houses a number of times. On not a single occassion was the EA RICS qualified so you might be advised not to presume that your experience is overarching. I am, however aware that some EAs are RICS qualified so I will not discount your opinion as 'rubbish' as you did mine. What remains is the truth that EAs do not do valuations, they do market appraisals.

Milliewilly wrote: »

Is an Estate agent going to have a house sat on their books costing them money and making their sales stats look terrible for months if not years for the sake of a few hundred extra commission (and thats if it even sold at the 'inflated' price before the Surveyor gets involved - who goes into the Estate Agents to ask them for values anyway!)

Sounds bat-guano crazy! But yes! They do! Some EAs have even admitted that they have to in order to get the instruction because their sompetition is doing it. But in my experience, I haven't met many EAs that were particularly bright.

Orpheo

not_loaded wrote: »

I really sympathise OP. We have a similar disaster going on with our chain of 4.

We have two morons at the bottom who are still at the mental age of 6, in the schoolyard, arguing over a couple of scruffy old dinky toys.

The EA overseeing the whole chain is an insecure bully with a spreading wet patch on the front of his trousers.

Except of course that there’s a lot more at risk than dinky toys, and actually, on reflection, that’s an insult to six-year olds…

Translation:

There are two parties involved in "at the bottom" (the most important part of the chain) who have yet to come to agreement over issues involved in their sale and purchase. Notwithstanding the fact that this is probably the most expensive purchase that they have ever made and will probably have to borrow a ludicrous amount of money so they want to protect themselves by making sure that everything is satisfactory, this is slowing the progress down and this is making not_loaded mad. Not-loaded has a spit-the-dummy moment on the MSE forums and insults them because not_loaded is not_happy.

Do the folks at the bottom of the chain give a hoot about not_loaded's state of mind? I doubt it.

harz99

Please Op, tell us what next in this saga?

sebtomato

POPPYOSCAR wrote: »

Yes but the point being is there is nothing wrong with the house, she just wants it cheaper

Why wouldn't she want it for cheaper?

Who wants to pay more for something when they can have it cheaper?

Is the seller selling the property for the price paid when bought, or are they trying to make some profit? What have they done to achieve that profit? In the same logic, why the seller is trying to make so much profit from a property? Why should the buyer pay for that profit?

SelmaFox

Why don't you find another buyer? A sad tale but that's what happens when you sell when the market's like it is not. Explain to the person you are buying a property from exactly what has happened and get your estate agent to find you another buyer. Perhaps your house isn;t worth that you want it to be worth?

SelmaFox

sebtomato wrote: »

Why wouldn't she want it for cheaper?

Who wants to pay more for something when they can have it cheaper?

Is the seller selling the property for the price paid when bought, or are they trying to make some profit? What have they done to achieve that profit? In the same logic, why the seller is trying to make so much profit from a property? Why should the buyer pay for that profit?

I agree, fair point well made.

Cissi

sebtomato wrote: »

Why wouldn't she want it for cheaper?

Who wants to pay more for something when they can have it cheaper?

Is the seller selling the property for the price paid when bought, or are they trying to make some profit? What have they done to achieve that profit? In the same logic, why the seller is trying to make so much profit from a property? Why should the buyer pay for that profit?

What a load of rubbish! The original price paid by the seller has nothing to do with it at this point - it was all a matter of negotiation at the time the deal was agreed! Sure, the buyer doesn't have to pay for the vendor's profit if they don't want to - if she thought the price was too high then she could just have walked away. Equally, the vendor didn't have to accept her offer - it's called negotiation. But the point is that all of this should have been thought through well before the day of proposed exchange! Not only because it's the decent way to behave but also because it's plain stupid to continue to incur costs for a deal that isn't going to happen!

OP, your buyer is clearly very stressed, if not unhinged, by the whole process. I think you should stand your ground - she's negotiated herself from -£20k to -£5k to -£2.5k all by herself - if you don't respond (or threaten to remarket tomorrow) she'll surely get back to the original price. By her own admission to the EA she never seriously considered the possibility of having to "start all over". What a nutcase!

Best of luck with it all.