Help needed,house sold for reduced price

thecornflake

Our flat was on the market for 135k. We had a buyer who said he was a cash buyer and offered us 125k. Stupidly we settled at 126500 and then he constantly came up with things and tried to drop the price. The survey came back saying the wiring was really old and ruined (the place has just been rewired) and the gas boiler was on it's last legs. We had the boiler serviced and the engineer said he didn't need to bother - even though it's 15 years old it had a better rating than most of the newer ones he'd seen. Plus the surveyor turned out not to be qualified to comment on gas appliances anyway.

It dragged on for ages and eventually I decided to put an ultimatum in - 24 hours for him to comfirm he really wanted to go ahead. He pulled out. House went back on the market, two days later an offer much higher was accepted and we complete in May (just exchanged). I don't think he ever wanted to buy it, or he didn't really have the cash or something.

Stick with what you want, and it will work out in the end.

shelly

mchu6am4 wrote: »

You have to beware of him as he may ask for a drop at the last moment (i.e. near completion and you could be in trouble) - You need to be able to trust him.

That's a good point to make. If the buyer is like this now - making demands he knows you won't accept - what will he try further down the line? I'd think seriously about re-marketing the property and don't let this buyer make any other offers in the future. House buying/selling is stressful enough without trouble from the very start.