so confused what do you think am i going mad

zipwen1

this is long but i just want peoples opinion on what they think is going on because my head is so confused.

first offer from Mr x on behalf of property company of 68 refused
finally offered 72 accepted
7 weeks down the line no survey done because company don't know if buying with cash or mortgage, no letter from EA stating solicitors and who is buying.
week eight buyer says cash so survey done.
2 weeks later buyer pulls out with no explanation but Mr x says that he might have another buyer, 3 hours later Mr x calls back to say other buyer can only offer 68 because of 100% mortgage, but says they can complete in few weeks and says they wont want any money off if survey comes back with work that needs doing, as we needed to sell quick we accepted.
get paper work from EA stating buyer as Mrs x.
week 2 of second offer survey done, EA calls to say house down-valued to 67, we reduce and ask for copy of survey.
from survey we find out that house has not been down-valued, but has 1000 retention until electrics are checked. at this point we raise price back to 68 and ask for new person to deal with our sale.
week 5 letter from buyers solicitor asking for reduction of 2500 as house has been down-valued and there is work that needs to be carried out immediately, as we have seen survey we know this is a lie so we refuse, EA calls Mr x, Mr x says he will pay 68 if electrics are OK, buyer now knows we have copy of survey.
week 6 electrics are checked electrician knows Mr x very well and doesnt like how he dose business and tells me that Mr x has told him to exaggerate on how bad electrics are and how much it will cost to fix in report so he can knock money off price
we tell EA this, EA says that in his last conversation with Mr x he said he would buy at 68 if electrics were OK or not, EA did not say this before.
Mr x is apparently a partner in the company who were buying in the first place, and since Mrs x has been buying the EA has only ever mentioned Mr x.
i will be calling solicitor tomorrow to find out if Mrs x really exists.

i know Mr x deals with the EA all the time when buying houses and renting them out so they know each other well.
i know Mr x has been trying to con us out of money here but now i am suspicious of our EA, I'm thinking maybe the EA has told Mr x we were desperate to sell and i also think the EA is fully aware of the tactics that Mr x uses in order to reduce house prices. please someone tell me i'm going insane i don't know what to think anymore this is making me ill.

Doozergirl

Dump them both. Please!

I can see what they're doing and they are just grinding you down. You're not going mad :kisses3:

Did you have any other valuations carried out? Were they similar?

silvercar

Are you happy with £68k or not? If you are tell the EA that is the minimum you will accept and refuse to have any discussions about anything else. Tell the EA to talk to your solicitor.

In the mean time get another valuation from a different EA for peace of mind.

Doozergirl

Better advice, silvercar

zipwen1

the other valuations were the same at 78, im not happy with 68 as it means we have to pay out 4 thow to move but i cant get my partner to see sense and pull out

Doozergirl

It's a massive hit to take in that price range - that's a 13% drop on three(?) quite certain valuations.

Also, if this guy is renting your house out, there's no way he's got a 100% mortgage. It's ALL complete rubbish, but you already know that, don't you! If this Mr X is in the business, £68 is pennies to him, he's playing you because he knows how hard it is to go through this process when it's your life. It's a game to him

Like Scrappy Doo says "Lemeatim!"

Have you looked at what else is out there at £68,000 - I bet yours scrubs up much better. Why don't you take your partner down to the EAs as a buyer and see what £68k will really buy you. You can try subtley to show that you're taking too little money here. It might encourage a little bit of rage which can go a long way!

If your house really is worth £78k, you could remarket your house at "offers over £68k" and see what comes in. I bet you get LOADS of interest

olly300

No I don't think you are going insane.

From what you say Mr X is trying every trick in the book to reduce the price and trying to wear you down with stress. And as the EA gets money from renting out Mr X properties then the EA is likely to be nice to his/her repeat customer.

Is there any reason why you can't withdraw from the sale yourself so you can work out how to get out of the contract with that EA and advertise your house with another one or differently?

The reason being is that if you finally agree on a price, Mr X may decide to offer you a lower price when it comes to exchange of contracts and you will be forced into a situation of take it or leave it.

MJMum

i know Mr x deals with the EA all the time when buying houses and renting them out so they know each other well.
i know Mr x has been trying to con us out of money here but now i am suspicious of our EA, I'm thinking maybe the EA has told Mr x we were desperate to sell and i also think the EA is fully aware of the tactics that Mr x uses in order to reduce house prices. please someone tell me i'm going insane i don't know what to think anymore this is making me ill.

I would imagine that all of the above is spot on.

I wouldn't deal with the EA any more. Silvercar is right, if you are happy to accept £68k, then let the buyer get on with it, but in the meantime make it clear to the EA that you are not happy with their actions, and that you will no longer be needing their services if for any reason this sale does not go ahead, and go ahead at the agreed price of £68k (put it in writing, to terminate your contract with them once any tie-in period has expired).

I imagine the EA is keen to sell to Mr x as they will get letting fees out of it if he then lets the property out with them. :rolleyes:

I very much doubt that the £72k buyer existed either.

Doozergirl

olly300 wrote:

The reason being is that if you finally agree on a price, Mr X may decide to offer you a lower price when it comes to exchange of contracts and you will be forced into a situation of take it or leave it.

For goodness sake, PLEASE don't exchange and complete on the same day.

(Suddenly dawns on Doozer where the 100% mortgage thing is really going...:_pale_: )

zipwen1

also MR or MRS x ( if she exists) is getting over 100% mortgage at 76 would the EA have know this or do they just see a mortgage promise i guess even if they did only just see this they would have known that they could afford more than 68, would they have told me this or advised me to hold out for a bigger offer they did kind of persuade us to take 68 so this makes me think they have some sort of arrangement with each other

Doozergirl

zipwen1 wrote:

also MR or MRS x ( if she exists) is getting over 100% mortgage at 76 would the EA have know this or do they just see a mortgage promise i guess even if they did only just see this they would have known that they could afford more than 68, would they have told me this or advised me to hold out for a bigger offer they did kind of persuade us to take 68 so this makes me think they have some sort of arrangement with each other

Is the mortgage valuation for £76k?