Should we Gazunder???

Jimx26

You are playing with peoples lives/ dreams, how would you like it if you were further up a chain and someone did it to the chain you were in collapsed? Would you say oh well let's waste another 3 months of our lives?
A very low act IMO.

hazyjo

Was also going to say you're missing the point, citizen11.

The thread's about 'gazundering'.

If say someone had their house on the market for £500k and took an offer of £300k cos they liked the viewers, yes, I'd class them as stupid or emotionally ridiculous. That appears to be what you're referring to.

If, however, someone was selling for same amount and accepted an offer for say £470k or even £490k, then I think it would be wrong, 1-5 months down the line (or even longer if that's the case) for the buyer to reduce their offer.

If the market dropped or went up in the 3 or so months it would take to sell to someone, I would not expect to change the purchase price - if I was selling or buying.

If you are referring to the fact someone might offer say £490k on a house and the market dropped 3.6% in one month, do you really believe the purchaser should drop their offer? What if it had gone up 3.6%?

Jx

citizen11

milliebear00001 wrote: »

You are missing the point. People do not routinely 'do business' with others simply because they have money. Lots of groups are squeezed out of normal, above-board business transactions (even on a global level) because they are not deemed trustworthy - why do you think hardly anybody does business with countries like Nigeria!?

It's not at all an emotional response. It's one that makes perfect sense in terms of self-protection. You are naive if you think trust plays no part in business. The 'players' quickly find themselves out in the cold.

House selling and buying is a stressful business at the best of times. Making it as straightforward as possible all round is what should be (and is for the most part) expected by all concerned.

Of course I am aware that trust plays a part in business. Fact is though, we haven't exchanged contracts and the last couple of months parties have simply been carrying out due diligence.

I would like to think that any company I was a shareholder of would base the price per share of an acquisition on the value at time of purchase, not when they simply started making detailed inquiries ensuring that they genuinely wanted to make the acquisition.

milliebear00001

citizen11 wrote: »

Of course I am aware that trust plays a part in business. Fact is though, we haven't exchanged contracts and the last couple of months parties have simply been carrying out due diligence.

I would like to think that any company I was a shareholder of would base the price per share of an acquisition on the value at time of purchase, not when they simply started making detailed inquiries ensuring that they genuinely wanted to make the acquisition.

Then offer less, and see where it gets you.

You asked what people's responses to you would be if they were your vendor - you've got them. Make a choice and act on it, rather than trying to justify that choice - it's irrelevant in terms of trying to guage how your vendor will react, which is what you wanted to assess originally.

citizen11

milliebear00001 wrote: »

Then offer less, and see where it gets you.

You asked what people's responses to you would be if they were your vendor - you've got them. Make a choice and act on it, rather than trying to justify that choice - it's irrelevant in terms of trying to guage how your vendor will react, which is what you wanted to assess originally.

I think you are probably right. I think I need to offer less for my own peace of mind. They could tell me to stick it, alternatively I could wipe years off the mortgage I'm taking on.

Even better they tell me to stick it, don't sell it to anyone, then sell it to me for even less in the New Year as I would still be ready to exchange!

milliebear00001

Do let us know how you get on.

citizen11

Jimx26 wrote: »

A very low act IMO.

I much prefer that to your unedited 'Scum' which I felt was inappropriate for a discussion.

hazyjo

Sounds like you made your decision before posting your 'dilemma/question'.

Am sure you'll get a great bargain at this stage in your life. Let's hope you don't get stung next time round though. Karma and all that...

Personally, if you tried dropping the price on something I was selling to you and proceedings were already underway, I wouldn't sell to you in the next week, New Year or new century - but maybe that's just me.

Jx

papalimabravo

MobileSaver wrote: »

....but I'd feel sorry for the innocent hard working people who unlike you had some morals and lost out because of your low-life tactics, all in my humble opinion of course.

And in your humble opinion the OP hasn't worked hard for their deposit. You know this for a fact?

papalimabravo

citizen11 wrote: »

What does the forum think? How would you react if you were a vendor?

Can't speak for the forum.

If I was the vendor, I would spit and curse and probably call you all sorts of names. I would also have an emotional attachment to the transaction which would make me see things in a less rational light. (If I was in your position, why wouldn't I do it!?)

So as a vendor, the first thing I'd do is get my Estate Agent on the case and pass the discount up the chain.

If that failed, I'd then really consider:

a) How much do I really need/want to sell
b) What are the chances of getting another proceedable buyer in the near future to achieve a)
c) All things considered (i.e. a + b), can I absorb the £10,000?


You are unlikely to get a rational response from the people in the chain. But (without knowing the full details), it sounds like you are the key to the whole thing happening.

What's best for you?

Good luck.