Vendor asking for more Money !?!

BTman · 29 April 2007 at 10:33PM

I would tell them to stick their house up their !!!, sideways....
Don't be a mug, how much did they pay for the property and how long ago?....

ashcarrot · 30 April 2007 at 9:53AM

Bear in mind a few things about the prices going up, a) you flat would be worth more if you revalued/remarketed it b) he/she's going to be buying a place in the area? if so they're house their buying would be in the same situation if they have to remarket theirs.

Rimo2021 · 30 April 2007 at 9:58AM

timba wrote: »

Having had my full asking price offer accepted on the 18th March and instructed solicitor, done survey and searches and accepted a 10k below asking price offer on my flat.

The silly vendor rang the ea to instruct to ask for 5K more because they think they are selling their house too cheaply.

I am hopping mad as they have the cheek to do such a thing but the market here (Brighton area) is red hot and prices have moved up so they would have no problem reselling the property for more if I pulled out.

I am sort of prepared to re-negotiate the extra money but am worried that the vendor's will pull a similiar stunt just before exchange and really stuff me !

Is there any way I can make sure they don't do that (not holding out much hope)?

cheers

agree then wait till just before exchange and drop your offer by £5001

irnbru_2 · 30 April 2007 at 10:10AM

ashcarrot wrote: »

if so they're house their buying would be in the same situation if they have to remarket theirs.

timba wrote:

they are not desparate to sell as their new build flat (downgrading to go mortgage free) is not ready till October.

Which would mean they've already agreed a price with the developer.

timba wrote:

Would love to call their bluff but this is a property with a very good selling feature for the price (direct sea view)

The seller has a strong position. AIUI, in England and Wales either party can pull out before completion. Your vendor requires the monies to complete on the new-build. Therefore, your strongest position is at completion: guzunder back to your offer price.

In addition, you could leaflet the neighbours to see if anyone else is considering selling.

Guy_Montag · 30 April 2007 at 10:15AM

I'm with Rimo, accept everything - drag out the exchanges as long as possible then drop your offer by £6k either that or pull out & tell them to stick it (& post a turd to them).