Should we Gazunder???

jozbo

er.. no, i dont get that at all!
do you want the house or not???
if you do, then you may as well try and renegotiate rather than just walk away?
by the sounds of it you're either not serious about buying or getting cold feet..

Eric1

You don't know what will hurt their feelings more.
If you feel the child benefit withdrawal etc is a force majeure event, explain it and set a new offer you are happy with.

terrierlady

as a ftbyr you control the chain.... as lots of people have said there mayb no room for the rest of the chain to re-.negotiate mortgage offers are out and deposits ready, the chain will be held up if it even goes ahead as im sure someone wont have any spare cash and need to get approval for the increase if needed to proceed., the choice is yours but speak to the vendor asp so they know your feelings and give them time to think is a bird in the hand worth two in the bush or not?

citizen11

jozbo wrote: »

er.. no, i dont get that at all!
do you want the house or not???
if you do, then you may as well try and renegotiate rather than just walk away?
by the sounds of it you're either not serious about buying or getting cold feet..

I would seriously like to buy the place, but I am discovering that not only are house prices falling at their fast rate ever (by the Halifax index) but also my income is dropping. Family allowance gone in 2013 and I've just seen in the paper today that my tax credits, £595 p/a, are being stopped as of April next year.

So income has/is changing. The housing market has changed - if people that are in work are taking around 7% net income drop then they ain't going to be spending more money on houses.

So yes, I am getting cold feet, I feel very differently about the price given the significant information which has come to light over the past month or so. The consensus is that renegotiation is totally unacceptable. So to preserve what will be damaged relationships with the vendor and EA (as I am likely to remain in a position to buy a new home, so may need them again) the honourable thing to do, it would appear would be to walk away.

Rather than "screw them over" or be "Scum." I have to say admittedly my proposed strategy was ruthless but ultimately the deal(s) would have been done and people could have moved and I thought those responses were over the top.

bristol_pilot

citizen11 wrote: »

I am genuinely surprised at such an emotional response from everybody. How can a transactions that involves hundreds of thousands of pounds and loans which stretch out until forever be anything but business like?

In principle, I would do business with anyone who has finance. Not having finance though would disqualify you.

Would you sell a house to someone cheap because you liked them?

You clearly have little experience of real business, but have perhaps been watching too many episodes of 'The Apprentice'. You should keep your word not out of sentiment but because it is good business practice. No-one wants to do business with a tricky dicky who will change their minds after shaking on the deal. And being liked is absolutely crucial in any business transaction !!!!!! !

undetterred

Eric1 wrote: »

You don't know what will hurt their feelings more.
If you feel the child benefit withdrawal etc is a force majeure event, explain it and set a new offer you are happy with.

Surely people should be budgetting to buy without child benefit payments.

Eric1

bristol_pilot wrote: »

And being liked is absolutely crucial in any business transaction !!!!!! !

That should be on the wall in every estate agent office

undetterred wrote: »

Surely people should be budgetting to buy without child benefit payments.

well, yes, but unfortunately a lot of people don't.

themull1

If i was the seller, i would say ' of course i will accept £10,000 less, then the day before completion tell you to get lost!!

undetterred

Eric1 wrote: »

That should be on the wall in every estate agent office


well, yes, but unfortunately a lot of people don't.

If thats the case he needs to find a cheaper house,instead of trying to compensate for the loss of CB.

Eric1

undetterred wrote: »

If thats the case he needs to find a cheaper house,instead of trying to compensate for the loss of CB.

yes, and apparently he is ready to walk away, but I think in this case the vendor deserves an explanation, and perhaps a chance to renegotiate.
Ideally, every offer should be realistic, but I've seen several FTBs drawn into bidding wars earlier this year. They were very happy to outbid others.