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Is this legal?

2»

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You could always respond by 'gazumping'.

    Say that you know want £10K more than initially agreed.

    Of course, you have to be prepared to walk away to make a bluff work.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    clarenic wrote: »
    now today the purchaser (a developer) has said that they'll only exchange if he drops the price by £10k.

    How long has the developer been marketing the property?
  • clarenic
    clarenic Posts: 116 Forumite
    xylophone wrote: »
    What's to prevent the developer from asking for another £10000 off?
    Your father has incurred legal fees but not £10000 worth?
    I wouldn't want to give in to this kind of blackmail.

    As unlikely as I thought this was - they did! Well, another £15k to be precise, outrageous! Needless to say dad's told them what to do with their contract and his house and the one he was going to buy are now both back on the market. He's lost a bit of money but better than tens of thousands hey?!
  • QBSBuck
    QBSBuck Posts: 136 Forumite
    Tragic. A good decision made. Hope it works out for the best.
    “Nobody ever defended anything successfully, there is only attack and attack and attack some more.”
    SAF...ok G. Patton

    "If a man does his best, what else is there?"
    G. Patton
  • SuzieSue
    SuzieSue Posts: 4,109 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    I feel very sorry for your father.

    I'm sure that there are some developers who make offers on lots of different properties and then gazunder on the exchange date on all of them. They don't really have much to lose except for a few hundred pounds in legal fees but a lot to gain if they find enough people desperate to sell.
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Name and shame here and everywhere please.
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
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