Buyer won't sign contract

kazbrett

We are in the process of selling our house. Everything is in place and contracts have all been signed except for the buyer who is purchasing our property. When we filled in our fixtures and fittings list we clearly stated that the washing machine and fridge freezer weren't being left. Our buyer has had the list since the end of January. Yesterday he signed all necessary paperwork except for the actual contract as he is saying that he thought the two items were being left with the house. We have said we will leave the washing machine at a minimum cost to him, but we need the fridge freezer. He has said that he now wants money off the price of the house to compensate! He is a cash buyer and already has £3K off the asking price because of this. I know he is pulling a fast one. Obviously we don't want to lose the house we are buying by delaying too much, but I don't want to be held to ransom over this either! I feel like telling him where to go rather than give him the option of getting one over on us. The EA has said that he will sort it all out and get to the bottom of this - I've told the EA that if they have told him that these two items are staying then it is them at fault and perhaps it should come out of their selling fees! However, EA is insistent they would never say this sort of thing. Has anybody been in this position before - at the end of the day I know its only a washing machine and a fridge, but I feel our buyer is being very crafty and has us over a barrel. We are due to exchange the back end of this week with the completion date set for a couple of weeks time. Many thanks.

evansmummy

Some people will try anything when they hold all the cards.
We have been going through a similar experience and I could swing for our purchasers.
We negotiated a figure to reduce our property by and they asked for more. Even though we'd got to stage we're we were nearly at exchange we put our foot down and said no. We had got annoyed and angry at this stage and were quite willing to pull out.
They came back and agreed at the previous figure. Our estate agent has been fantastic I have to say.
You have to decide whether you want to stick to your guns or whether it's not worth it for the sake of a freezer.

Alybea

I'd tell him he can have the cost off the price.
Secondhand washing maching - £150
Secondhand F/F - £100
Total - £250


I assume he's hoping for the new price?

kazbrett

He hasn't yet suggested a new price - not that we will allow it. Because he is a cash buyer and a first time buyer at that he thinks he is in control and calling the shots! We have other parties interested in the house who will pay the full asking price and I'm tempted to take their offers even though it will delay the move by a few more weeks. It disgusts me people do these underhand tactics - we have been honest and fair and quick throughout the whole process and then a few days from exchange, he does this. Why can't people just be a bit more upfront and honest. If we do decide to sell to somebody else, then he will lose the money he has paid out on the survey and solicitors costs etc, but like you say are we willing to lose out over the price of a fridge and w.machine. I have offered the washing machine for a price of £100 - its only 1 year old and in excellent working condition, but I want to take my fridge freezer with me!

steve1980

Is it really worth haggling over?

kazbrett

It's the principle isn't it though!

saverbuyer

kazbrett wrote: »

It's the principle isn't it though!

No. Don't get emotional over a financial decision. Look at it rationally - it's only a few hundred quid versus losing a sale in this market.

pauletruth

well if you have other wanting your property at full price. then you can tell this buyer to either sign or walk. put the house back on the market. if they are serious about wanting your house they won't let it go over white goods.

warehouse

Leave them and move on. Think about it, the price of the white goods is such a ridiculously low % of the selling price of any house that it's almost immaterial. Just be happy you have a cash buyer. Let him win the battle, you just won the war.

snid

You don't want to lose your house sale for the price of a fridge. But then again, does he want to lose the fees he has already paid (£1000+ ?) for the price of a fridge.

Alternatively, get a cheap 2nd hand one and leave that!

Credit-Crunched

kazbrett wrote: »

He hasn't yet suggested a new price - not that we will allow it. Because he is a cash buyer and a first time buyer at that he thinks he is in control and calling the shots! We have other parties interested in the house who will pay the full asking price and I'm tempted to take their offers even though it will delay the move by a few more weeks. It disgusts me people do these underhand tactics - we have been honest and fair and quick throughout the whole process and then a few days from exchange, he does this. Why can't people just be a bit more upfront and honest. If we do decide to sell to somebody else, then he will lose the money he has paid out on the survey and solicitors costs etc, but like you say are we willing to lose out over the price of a fridge and w.machine. I have offered the washing machine for a price of £100 - its only 1 year old and in excellent working condition, but I want to take my fridge freezer with me!

Sadly he does hold all the cards. If money is that crucial to your decision why not sell it to the people willing to pay full price?

I am confused that you are willing to lose the sale for £250, yet are declining two full price offers for a quick completion?

Please don't see it as underhand tactics, all that has happened is the boot is on the other foot now. 5 years ago sellers were pulling the same tricks in reverse as the market was so buoyant.

My seller must have hated me, as I demanded all fixtures and fittings and a 30% discount, why?
Because I could, its a buyers market and they will take the maximum they can. There are no rules, it's not disgusting, its just how the system works.

Dont take it personally, either think a quick sale is worth the loss of £250 or wait a few weeks for full asking price, I know which one I would do