Gazundered at last minute!!

iolanthe07

You have to look at this cooly. Sure, the buyer is trying to shaft you, but don't let the red mist of anger cloud your judgment - try and detach yourself and make a rational objective decision.

ILW

POPPYOSCAR wrote: »

Bit late for that when you are due to exchange that day! All this has supposed to have been done before exchange date is agreed.House buying is complex enough, just imagine if everyone did this.

Not true, no contract has been entered into until exchange. Not nice but that is the way it is.

tawse57

I was reading a post on housepricecrash this morning about one person who put in an offer well below asking price, the offer got turned down and the house remained on the market.

Several months passed and the post I read this morning said that the house is now on sale for an asking price below the offer they put in.

POPPYOSCAR

ILW wrote: »

Not true, no contract has been entered into until exchange. Not nice but that is the way it is.

I wasn't talking in legal terms just practicality.Leaving a survey until exchange day is ludicrous in MHO.

G51shopaholic

her surveryor wants reporting to whatever professional body he belongs to!
Or did he value house at 20k less that the original asking prices hence her deciding that she didn't get the "discount" she original thought?

As previous posts have explained house buying/selling system need overhaul. In Scotland you sign missives about 2-3 weeks before completion.
That is that, as they say - signed, sealed and delivered.

Short of death there is noway out. And so it should be.

None of this last day cr*p and trying to squeeze any extra money out of people.
As someone else said greed greed greed

dippenhall

Hi,
Thanks for all your replies. Our house was origanlly on at £375000, she initally negotiated an offer of £362500, but she hadn't sold her own house, so ours stayed on the market, hers eventually sold, but for less than she expected so she reduced her offer to £350000. Unfortunately we hadn't had any other offers in that time so we decided to go with that.

So today we have been waiting to see what her response was ... she basically went AWOL and no-one could contact her all day! Finally around 5pm we got a call from our solicitors saying that she had got in contact with her solicitors and would issue 'further instructions' tomorrow!! So I have no idea whether it's going ahead, or not!

Some people are unbelievable! I would like to tell her where to go, but as we didn't have too much other interest in the house I'm worried it may take another age to find another buyer, so I guess we're just waiting to see whether it is a definite 'no'.

As if house buying isn't stressful enough!

Milliewilly

Orpheo wrote: »

Surveyors are qualified to value houses. EAs are not.

Mortgage valuation surveys are compulsory and for the benefit of the lender.

I'd always be inclined to trust a surveyor commissioned by myself outside of the mortgage process, after all, only then are they truly working for me. If my surveyor had downvalued a property then my offer would come down too.

20K is a lot of money for a buyer to lose in these difficult times.

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.

This rubbish that gets spouted about they overvalue to suck in gullible Vendors and get the signing and thus their higher commission - they don't get anything until the house is sold then its a %age and a low one at that.

When you are talking e.g. 1% that's £10 every £1000.

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!)

dippenhall

Yes we've never actually seen anything in writing from this 'surveyor' so I think it was a ploy, infact she had been intentionally delaying the exchange in order to have it co-incide with her visit to the house. The surveyor admitted to the estate agent he had nothing to back up his valuation, no details of comparable houses sold or on the market

QTPie wrote: »

I agree.... The Surveyor was taken there - on day of exchange - to force last minute renegotiations... There was never any intention of doing anything else (like check out the roof or the damp proofing...). It would have been a valuation rather than a survey. Was it definitely a surveyor?Have they put the valuation in writing?



QT

Blacksheep1979

POPPYOSCAR wrote: »

The point here is on ebay you do not accept a price and then go back and ask for it cheaper! so no comparision there.

Actually you frequently hear of people complaining the item isn't up to spec and I'll go for a chargeback if you don't refund some of it (gazundering) and the other side when you're the second person in the auction and mysteriously the other person who has pushed the price up drops out and would you like to buy at 50p less than they were offering? (gazumping)

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.

This rubbish that gets spouted about they overvalue to suck in gullible Vendors and get the signing and thus their higher commission - they don't get anything until the house is sold then its a %age and a low one at that.

When you are talking e.g. 1% that's £10 every £1000.

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!)

Of course they could give the falsely inflated price to get the house on their books then say that they need to reduce the price after a few weeks so getting the house and selling at a realistic price...

Milliewilly

dippenhall wrote: »

Yes we've never actually seen anything in writing from this 'surveyor' so I think it was a ploy, infact she had been intentionally delaying the exchange in order to have it co-incide with her visit to the house. The surveyor admitted to the estate agent he had nothing to back up his valuation, no details of comparable houses sold or on the market

I would pull out of selling to her on principle.