Annoying - Seller's greedy

Yorkie1

They wanted an offer of 99.2% and were prepared to compromise down to 98.3% ?!!

Completely bonkers. Good luck in your ongoing search. If there's nothing immediately on the market, I'd suggest that you think seriously about going into rented so as not to risk losing your buyer.

DVardysShadow

gemma.zhang wrote: »

Love your comments! Thanks a bounch !
Yup, got feedback from the agent. Apparently, they insisted on 5k under their asking price( that's 10 k more than what we are offering), and after agent's 10 min chat, they step down a bit, still insists on 5k more than our offer price. Not anything less, no even 1 pound less. That's their word by word. We even suggested meeting in the middle with 2.5 k more, got rejected by agent. We are dissappointed and find them very unreasonable or unrealistic on the expectation, and decide to move on. Good luck with them finding a buyer then.

Thanks all everyone for listening. We don't know where is our next dream house, nor how long our buyers are willing to wait... Fingers crossed!

Then do your best to keep your buyer - move to rented and start again form there. make it clear to EA that this is what you are doing and your offer comes off the table once you are committed to the rental.

Gwhiz

DVardysShadow wrote: »

Then do your best to keep your buyer - move to rented and start again form there. make it clear to EA that this is what you are doing and your offer comes off the table once you are committed to the rental.

This is excellent advice and exactly what I would do in your position OP.

gemma.zhang

Thanks! We were just discussing the option of renting. Only problem is that we are on fixed mortgage, will have to pay up to 5k penality. Might be able to get it back if we manage to take mortgage again within 6 months. Just lots of hassels and unknowns.

My hubby is quite determine to walk away. Me still quite eager to move. Really don't know what to do. Quite surprised that they really said, not a pound less than the minimum price. I know 5k isn't much. Just annonyed that they don't negotiate AT ALL!

Yorkie1

Their attitude now is likely to be illustrative of how they will deal with you throughout the process. What if the survey comes back a) with a lower valuation than your offer; and/or b) with structural etc issues which were not obvious and which need to be renegotiated. They don't appear to be amenable to any form of reason, and you'll have spent several hundred pounds more by that date.

I'd also probably expect them (based on gut feeling and nothing more) to be really stingy about what they leave behind, probably change decent fittings for cheap ones, if they are that focused on money and the value of their house. If you do intend to go for this house anyway, I'd be very sure about including in any written offer a stipulation that they leave certain identified features if they are in the property description and you definitely want them leaving.

Talk to your mortgage lender about holding your deal open for you / not imposing the ERC if you take out another mortgage with them within a certain period. But if I were you, I'd write the ERC off now and that takes the pressure off you with regards to finding and completing on another property, especially if you're in rented and have to tie that in with a 6-month tenancy.

hcb42

they are probably in debt to £599K :eek:

gemma.zhang

Hi all!


Hubby and I are still discussing it, to be honest, renting just too much hassel! Tempted to put down 5k and move on.

The location is premier, 150 meters away from the good local school. not sure how long it takes to wait for next one coming! There are a few good houses around, but not as close to school as this one. There have been a few sales on the same street, not as big as this one!

It's really hard decision! Help please! 5k isnot much, however it's lots of uncertainty, waiting and trouble if we need to wait. And anonying to let such difficult sellers to win, And pretty sure we can't knock off anything after survey!!!

Too hard, too hard!

HAMISH_MCTAVISH

gemma.zhang wrote: »

Hubby and I are still discussing it, to be honest, renting just too much hassel! Tempted to put down 5k and move on.!

Good choice, there's more important things than money sometimes.

Seeing as it'll cost you 5K for the early repayment on the mortgage if you rent, probably just as well anyway.

oldone_2

If you go ahead I would pin the sellers down to selling as quickly as possible.Questions to ask include 'have they found somewhere else yet', 'have they applied for a mortgage' etc.

You need to determine if they are time wasters now, and not in three months time when come exchange date they back out.

Tread carefully and remember it is your money so you set the pace and are in control.

birkee

There ARE people out there, that don't really WANT to move, so they put their houses on the market for silly money. If some idiot is mug enough to pay the price, then they'll move, laughing all the way to the bank.

If you don't want to pay the asking price, walk away. They are entitled to sell the house at the price they want. You possibly losing your buyer is of no concern to them.