Seller pulled out

advent1122

scorpio_princess wrote:

????????? What a strange post! And not really relevant to the OP's problem!

It's called having "A Sense Of Humour".
Sorry if you dont have one.

advent1122

[QUOTE=scorpio_princess_Unless_he's_really,_really_sure_he_can_get_a_new_buyer_for_the_higher_amount,_he'd_be_a_complete_fool_to_back_out_now.__[/QUOTE]

Why would he be a complete fool?
He has lost nothing by backing out and waiting for a higher offer.
It is the buyer who will lose a few grand.
I agree it should be illegal and once an offer is accepted then that is final.

fbrj

advent1122 wrote:

Why would he be a complete fool?
He has lost nothing by backing out and waiting for a higher offer.
quote]

...except that he may not get "a higher offer" and lose the OP as a buyer !!

hearts

"and totally agree with you on the why is it legal thing i think we should be more like Scotland that way when an offer is accepted thats it no price mess around."

A popular misconception. The buyer isn't committed until the Missives are signed. Usually about 4 to 6 weeks after offer accepted. ;-)

scorpio_princess

advent1122 wrote:

It's called having "A Sense Of Humour".
Sorry if you dont have one.

Sorry, it just seemed rather random! No need to be quite so cutting Sorry for being seemingly devoid of a "sense of humour" - I must work on that.... :rolleyes:

ps If you're going to give a tongue-in-cheek answer, use smilies to indicate that you're not serious!

scorpio_princess

advent1122 wrote:

Why would he be a complete fool?
He has lost nothing by backing out and waiting for a higher offer.
It is the buyer who will lose a few grand.
I agree it should be illegal and once an offer is accepted then that is final.

What I was trying to say was that he stands a chance of losing out completely because of his greed, especially if the house really isn't worth the higher amount. I can imagine he'd pull out of this particular deal, market it at the higher price (which will seem strange to people keeping an eye on the local property market - they'll see that it's back on the market at a higher price - would you want a house that only recently sold for 20k less?), fail to get any offers over what he'd sold for before, then crawl back to the OP with his tail between his legs as he'll then realise that he was onto a good thing already.

kitegirl

The way it stand is this - exactly as above - we agreed on full asking price...now he's getting greedy or calling our bluff.

the problem is he doesn't need to sell this house to buy his other one which doesn't seem to be on a big chain either. mortgage etc is all agreed so yes, effectively we're a cash buyer.

The EA's have been awful - they've gone from Monday when he first told them he was backing out as he wants more money - saying 'i don't know what's he's doing, he'll never get more money etc etc it needs so much work...yada yada' to the complete opposite on friday 'well it's a weird market, and to be honest someone might pay 315, 320k for it'

they've got nothing but their own interest and the prospect of a possibly bigger commission in their minds.

I think we're gonna go knock on the sellers door today and speak to him face to face and see if we get anywhere.

theoretically his contract with the estate agents ends next week, so am i right in thinking that he's wide open to private sale offers after that? If so we'll offer him that and save him the agents fees....

irnbru_2

kitegirl wrote:

2/3 thousand pounds down the drain, and now he's messing us about.

You've actually spent £2/3K ?

kitegirl wrote:

The way it stand is this - exactly as above - we agreed on full asking price...now he's getting greedy or calling our bluff.

Walk away. If the house is over valued only a mug or the desperate will buy it.

Poppy9

I wouldn't go and see the buyer as it could get confrontational.

I'm surprised he doesn't need to sell to buy his next house as £300k is a lot of money. Something must have changed if he no longer needs quick completion, does he no longer have a house to move to.

I would call his bluff and tell him your original offer stands and either complete by x date or you pull out. Also ask the agents to give you details of other houses so they know you are actively looking.

How have you already spent £2-3k. Survey's only usually cost £500-600 and the solicitors normally carry over the costs to the next purchase.

I have pulled out of buying a house after a survey. Yes I lost my survey money but the seller knew the house had subsidence but didn't disclose it. The survey did though so it was money well spent IMO.

mystic_trev

kitegirl wrote:

I'm stuck now - i've just got to back off as i don't see how it is worth 25 thousand more.

Ah well there's the problem. He put it on the market in 2006 - now you've got to pay 2007 price! There are no "SALES" in the housing market, just plenty of greedy people!