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Seller refuses to negotiate
Comments
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Give them a choice, accept £12K below or pay agreed price on condition that they do work which will be checked by second survey.
If they say no to both explain it is a buyers market and many more houses around0 -
I was thinking of taking the survey to the EA so they can see for themselves what it has thrown up. Should I do this?0
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I was thinking of taking the survey to the EA so they can see for themselves what it has thrown up. Should I do this?
At the end of the day the decision is yours. If you really want the house then you'll have to thrash it out with the vendor. If they are not willing to budge then you need to decide whether to jump ship or not.
The problem with many vendors is they want the best of both worlds (don't we all I suppose really). In that in a strong housing market many wouldn't think twice about gazumping a buyer but when the shoes on the other foot and the housing market is weak many dig their heels in and say 'I'm not selling it for that cheap!' and whinge when buyers attempt to gazunder.
Well as many will tell you out there that's market forces for you. Both gazumping and gazundering are in my opinion morally wrong and unless some legislation is brought in to prevent it I'm afraid they are here to stay.0 -
shortchanged wrote: »At the end of the day the decision is yours. If you really want the house then you'll have to thrash it out with the vendor. If they are not willing to budge then you need to decide whether to jump ship or not.
The problem with many vendors is they want the best of both worlds (don't we all I suppose really). In that in a strong housing market many wouldn't think twice about gazumping a buyer but when the shoes on the other foot and the housing market is weak many dig their heels in and say 'I'm not selling it for that cheap!' and whinge when buyers attempt to gazunder.
Well as many will tell you out there that's market forces for you. Both gazumping and gazundering are in my opinion morally wrong and unless some legislation is brought in to prevent it I'm afraid they are here to stay.
Exactamondo! I've had the shoe on both feet recently having been both seller and buyer. Just had news that we're meeting half way on my offer. Yessssss.0 -
Thing is that if it was to go back on the market any future sale would throw up the same issues in the survey (unless the buyer was foolish enough/cajoled into just getting a valuation done - and that failed to spot the probs).
A similar thing happened to us but it was our valuation that came in 9k under our offer price. The reasons for that were described in our (seperate) survey but those costs came to about 4k. We simply notified the EA of the valuation price and the vendor went mental and put the property back on the market, then claimed to have had another offer higher than ours...
What our seller failed to understand is that both sides need to play 'with a straight bat' or else you dont trust them throughout and feel more comfortable with walking away late in the day or gazundering.0 -
Jozbo - You are so right. Better the devil you know etc. Did you lose this house or did they come to their senses?0
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Am slap in the middle of a one sided negotiation on a house.
. Any advice welcomed.
Don't buy if they don't reduce.
Simple.
Find another property.
Give them a deadline to accept your reduced offer and then move on.
At the moment you've lost the survey cost. If they don't reduce and you buy it then you're losing 12k+0 -
poppysarah wrote: »Don't buy if they don't reduce.
Simple.
Find another property.
Give them a deadline to accept your reduced offer and then move on.
At the moment you've lost the survey cost. If they don't reduce and you buy it then you're losing 12k+
Thanks. They've seen sense and have met me half way. Am OK with that as they have also got a building certification from the LA to satisfy me with regard to the loft extension.0 -
If you don't have a valuation survey, how do you know the price isn't fair even with the work needing done? The house might very well be value for money and priced accordingly.
Get a valuation and take it from there.0
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