11th hour Allowance

witney123

This is the scenario without going in to a boring life story.

Offer accepted 30th of September everything was very smooth until, I had a call from my estate agent explaining the below problem with the chain.

1 People in rented accommodation buying our buyers house have demanded that our buyer be out by the 2nd of December or it’s all off!
2. In turn my buyer agrees but will not pay any extra for her move and storage costs; she believes it would be £1500 extra on top for two weeks of the £500 she was paying....just a little fib.
3. It was explained to us that we should lower our price to our buyer by £1500 in a way of an allowance and our sellers by £1000 and their sellers by £500 so we all pay to keep the chain going we were told this on Saturday 18th of November with an answer by the 20th by noon or its all pulled....obviously we all want to move and the bottom two do not!
4. In begrudging principal we had to accept, it now transpires that our sellers changed their minds and obviously delayed the whole thing and have partially caused this reaction, however our buyer digging her heels in and claiming that the £1500 extra costs without any evidence is also not very helpful when she knew that she would have to put her stuff in to storage in any case.....wonder if she will skip through the door with a case of Champagne and I will go through ours with a case of value beans for Christmas....I’m going to have to find £500.00 out of my own pocket to cover this sorry kids Turkey misshapes and beans for Christmas.


Question: Has anybody experienced this gun to the head 11th hour negotiation before, I have insisted that we have a real cost not a fanciful £1500 and should I re negotiate a new commission rate/compensation with my estate agent that knew this 1 week previous and decided on a Saturday to call me.

lynzpower

well you want proof dont you.

If I said I want X to cover my costs, youd want to make sure they are not on the make- wouldnt you?

witney123

Problem is Iam the ony one requesting this maybe Iam making a meal of it

Rimo2021

witney123 wrote:

Question: Has anybody experienced this gun to the head 11th hour negotiation before, I have insisted that we have a real cost not a fanciful £1500 and should I re negotiate a new commission rate/compensation with my estate agent that knew this 1 week previous and decided on a Saturday to call me.

Thank God no because i live in Scotland - unfortunately gazundering is rearing it's ugly head here too on occasion

freebo_2

witney123 wrote:

Problem is Iam the ony one requesting this maybe Iam making a meal of it

I would want proof too! have you considered telling them to stuff it (and I don't mean the turkey!).

Fact is, its all one big game of bluff, and its up to you where you draw the line...

benood

Isn't it all academic - your chain isn't going to exchange, and your buyer complete, by the original deadline - tomorrow - with all this argument still going on.

11th hour negotiation is all part of the stress - you can either call her bluff and risk the chain collapsing (I have done this in the past). Or you can get on with it - beans and all! :eek: