House Price Negotiation

cruella_de_vile

Mason79 wrote:

Thanks for all the constructive advice. Geeks

:rotfl:

Doozergirl

Help me, I'm wounded! :rotfl:

andyyorks

Mason79 wrote:

Thanks for all the constructive advice. Geeks

You set yourselt up for this with a staggering lack of thought when putting your offer in. Take it on the chin!! A worse impression is created of you with comments like the above.

rosysparkle

Have you exchanged? You say you are due to complete soon - isn't the time to negotiate the price before you exchange legally binding contracts?

Mason79

Humm.......
From reading all of your comments again, apart from mr.broderick's slur. I think I need to clarify certain points as these may not have been as clear as I thought they were.
There were several offers on the property all in the same region, mine included, then some more well below the asking price. My offer was subject to home buyers survey and further investigations. After viewing the property a couple more times in depth there were several more things which came to light which made me doubt the current "market value" (admittedly things I missed the first time) The time being Christmas things such as surveys were slow to get done, especially as the original surveyor let me down and I had to instruct another. Yesterday I received a homebuyers report and the surveyor has valued it 10k less than the EA. I have since spoke to the EA and she informs me it was the vendor who instructed her to market it at the asking price, despite her advice as the purchasers surveyor would inform them the asking price is too high.

Since yesterday the vendor has informed the EA that he is now thinking of taking it off the market as the money I (and assumingly any other purchasers) are willing to pay isn’t enough for him.

So I don’t think I am the big bad wolf in all of this, I, as well as many other people have been messed around by a vendor who wanted more for a property than what it is worth in its current condition. Alot of people have now wasted alot of time and effort not to mention all the money I have wasted.

Woby_Tide

but the vendor only wanted more for a property than it was worth because...and judging by your earlier reactions you won't like this.....but people like YOU were prepared to offer it so they took a gamble. There was always an oustide chance that a surveyor on a good day would have given it the goahead. Value is only what people are prepared to pay. Just be grateful you weren't a cash buyer, the mortgage company has saved this one technically.

thesaint

In your first post you stated that you were "due to complete in a week".
when you purchase a house it is normal to:

1. See the property.
2. Put in an offer.
3. Get a survey done
4. Confirm that you are proceeding with the purchase.
5. Complete and exchange.

Although the Christmas break was a disruption, it was forseen as it happens every year.

rosysparkle

Exchange first, and then complete! But as far as I can see the OP hasn't exchanged and so would not have been 'completing in a week'.

thesaint

Sorry, i've ruined my point now. Drat!

mr.broderick

Mason79 wrote:

Humm.......
From reading all of your comments again, apart from mr.broderick's slur. I think I need to clarify certain points as these may not have been as clear as I thought they were.
There were several offers on the property all in the same region, mine included, then some more well below the asking price. My offer was subject to home buyers survey and further investigations. After viewing the property a couple more times in depth there were several more things which came to light which made me doubt the current "market value" (admittedly things I missed the first time) The time being Christmas things such as surveys were slow to get done, especially as the original surveyor let me down and I had to instruct another. Yesterday I received a homebuyers report and the surveyor has valued it 10k less than the EA. I have since spoke to the EA and she informs me it was the vendor who instructed her to market it at the asking price, despite her advice as the purchasers surveyor would inform them the asking price is too high.

Since yesterday the vendor has informed the EA that he is now thinking of taking it off the market as the money I (and assumingly any other purchasers) are willing to pay isn’t enough for him.

So I don’t think I am the big bad wolf in all of this, I, as well as many other people have been messed around by a vendor who wanted more for a property than what it is worth in its current condition. Alot of people have now wasted alot of time and effort not to mention all the money I have wasted.

slur? Geek? You really are weird arent you. You bought a property, cocked up and are now on here asking for advice on renegotiation? I feel sorry for your vendors to be dealing with a whopper like you..