Are our vendors playing games with us???

Tancred

WexfordWarrier wrote: »

Well after all those replies we really feel awful. Honestly didn't even cross our minds that we were doing anything immoral. We were just looking after our own best interests and thought all this was part of the 'game'.

You live and learn I suppose!!

Thanks for all the replies nonetheless.

It's not a 'game' you plonker! What do you think this is? A game of Monopoly? People's lives are stake when selling/buying a house, the very least you should do is treat people with a modicum of respect and decency! :mad:

lessonlearned

Tancred wrote: »

You sound like a real pain in the backside. If I was the vendor, I would tell you to f**k off in no uncertain terms. Once you make an offer you have to stick to it, or you lose all credibility.

Nicely put. :rotfl:

WW - Why on earth would the Vendor trust you now. I certainly wouldn't. Even if you offered £275K and said "Cross your heart and hope to die".

You've lost all credibility.

cootuk

Maybe see if the sellers are leaving fixtures and fittings which could go part way towards the £5k difference?

Tancred

I find it incredible that there are buyers who would make an offer only to try to renegotiate it to take advantage of the vendor's position. This is why we urgently need legislation to ensure that once an offer is made it cannot be withdrawn except under very strict circumstances. The current situation is the law of the jungle.

DevilsAdvocate1

I think the other thing to realise is that the vendors will have a price that they need to achieve to be able to purchase their new home. If your lower offer means that they cannot afford their new home then they can't accept your offer. Even at £275k you have got £10k knocked off the price.

cte1111

I don't think the OP is acting immorally, they're obviously just trying to get the best deal that they can. However, I don't think they are going to win this one, as they've already effectively shown their hand with their earlier offer.

GDB2222

Tancred wrote: »

I find it incredible that there are buyers who would make an offer only to try to renegotiate it to take advantage of the vendor's position. This is why we urgently need legislation to ensure that once an offer is made it cannot be withdrawn except under very strict circumstances. The current situation is the law of the jungle.

But hang on a second! He made an offer, and it was rejected. Even the most draconian change in the law would not require a rejected offer to remain open.

lessonlearned

cte1111 wrote: »

I don't think the OP is acting immorally, they're obviously just trying to get the best deal that they can. However, I don't think they are going to win this one, as they've already effectively shown their hand with their earlier offer.

Not immoral no because they have not tried to gazunder at the last moment.

Flaky yes. This would and should make a vendor nervous.

The vendors will find it very difficult to trust the purchaser now.

The purchaser has displayed a blatant opportunism by trying to take advantage of the vendor's circumstances.

The Vendor is likely to be concerned that a purchaser who acts in this way may well turn out to be the kind of person who would try it on again at the eleventh hour.

Gazundering is blackmail.The perpetrator knows that by this stage everyone has incurred costs and is likely to just take the hit to simply get it all over and done with, rather than having the chain collapse and everyone having to go back to ground zero.

I would have very grave doubts if someone had come to me with a revised lower offer under these circumstances.

A bad survey is different and of course in such cases it may be necessary to renegotiate the price. However, to just try and take advantage in the way that OP has is simply unacceptable.

ClothCap

At which point was the OP's 275k 'offer' actually accepted. To come back the best part of a working week after it was made and 'accept' it whilst the house remained on the market in the hope of a better offer gives the impression of the vendor not dealing with the OP in a fair manner.

I've never seen Kirstie or Phil mulling over a pint and Chicken in a Basket down the Wine Bar for four straight days waiting for a decision.

The vendors only grudgingly 'accepted' it after their circumstances changed. To my mind the 275k 'offer' made by the OP is off the table and they are free to make a new offer.

I agree that there will be an element of distrust in any future dealings but I don't see it being limited to the vendor against the OP.

I find it interesting that the poster who said this;

It's not a 'game' you plonker! What do you think this is? A game of Monopoly? People's lives are stake when selling/buying a house, the very least you should do is treat people with a modicum of respect and decency!

And this;

I find it incredible that there are buyers who would make an offer only to try to renegotiate it to take advantage of the vendor's position. This is why we urgently need legislation to ensure that once an offer is made it cannot be withdrawn except under very strict circumstances. The current situation is the law of the jungle.

Also posted this;

I've accepted an offer on my house from someone who has yet to get a firm offer on his, but I am still marketing the property and would sell it to someone else who made a similar (or better) offer.

Pot meet Kettle?

GDB2222

I don't think it matters much what you do, as long as you are straightforward and stick to what you promise. If you offer £275k and have that rejected, you are free to make a revised offer at a later date. To make all this clearer, when I make an offer, I put a time limit on it - usually 24 hours. If you don't do that, vendors may think it is open indefinitely.