Seller asking for more money

jjjay

I made an offer on a house on Monday and the seller accepted. She then called the estate agent the next day to say that she'd changed her mind and wanted another 4k as she needed to buy a house. The estate agent was not happy and advised her against doing this. I'd offered 13k below the asking price originally and the house has been on the market for 9 months with not much interest.

Whilst I may well have negotiated up to this position the day before (and in all fairness, it's within my range I'd pay for the house), I am now feeling like I can't trust the seller as I just feel this was a really carppy thing to do. What is to stop them in 2 months time (when I've paid for searches and survey) from looking around and saying ooh the market has gone up, I could get more for this house now and asking for another increase in price. It seems like a real risk to me. Whilst I'm not in London, the house market is starting to pick up in my city.

Thing is, I like the house, so whilst I don't want to pay more, it is worth it. I just wish she'd taken her time to consider and come back at the time, rather than after accepting. I could walk away though - I'm "commerical enough" to think that way. I could just go back and say that its, my offer is my offer either accept it or I'm off but I think this increases the chance of the seller backing out later on if the market does really start to go.

How best to proceed and protect myself from incurring costs and then the seller backing out? I'm comfortable on negotiating the price, but want to mitigate the risk if that makes sense? I just don't trust her.

Doozergirl

Go for another viewing. Talk to her, is there a particular house, is that why she's asked for more? Everyone has a story, you can decide if you feel that hers is a genuine one.

I would be inclined to believe it's a mistake. People who want to play hardball will play from the beginning.

You can't protect yourself from people backing out. If she genuinely can't afford to move without that £4k then you're on a hiding to nothing. It might be worth speaking to the EA and see if they can negotiate on the next house on her behalf perhaps, see if they can wangle it.

Raggie

if you don't trust her then pull out..

I believe you should listen to your gut, if she is this "changeable" at the early stages of the sale.. how will she be should problems show themselves...

Personally I would go back to the agent and tell them.. "no"..

But then again.. its not a house I want.. so to me its just a transaction.. :beer:

Ivana_Tinkle

Doozergirl wrote: »

Go for another viewing. Talk to her, is there a particular house, is that why she's asked for more? Everyone has a story, you can decide if you feel that hers is a genuine one.

Totally agree with this. People who are just gazumping without good reason usually do it right on the brink of exchange.

moneyistooshorttomention

I had a similar situation. I understood my vendor (ie of house I have just bought) had accepted my original offer (though it was, at that point, a provisional one as I hadn't yet found a buyer for my existing house) but they came back asking for more money. The figure then was the one I had expected to have to pay for the house in the first place in my own mind.

My reply was to say "Subject to me also getting the following thrown in then I will do that...". The things were thrown in and I watched my vendor like a little hawk after that in case of any more "funny business" of any description.

There was a bit more "funny business" in the event, in that I spotted a couple of signs of trying to keep marketing my house to other people after I had been able to firm up my offer and make it definite (as I had found my own buyer by then) eg a better front photo of the house got put up on websites. I rang the estate agent and created merry heck about these "marketing signs and signals" and said that they must "pull back" on that and no-one else was now to view my house-to-be OR ELSE and reminded them that I WAS going to move to the area and would create havoc all round for the vendor if I found they went ahead and accepted someone else's offer (after having already accepted my 2nd and proceedable one).

They got the picture, ie that vendors name would darn soon be "news" all round the community if any stunts were pulled and the sale then proceeded according to plan.

Just as well I did, as the local grapevine subsequently told me that there was a strong attempt by someone else to buy the house subsequently and "boarders got repelled" by the EA knowing I'd absolutely forbidden any further viewings of my house-to-be and that would-be buyer wasn't allowed to view my property.

You could try the same, ie of asking for "more for your money" and then watching the vendor like a hawk thereafter.

jjjay

Thanks - to be honest I think the EA was really shocked and didn't like calling me on Tuesday to tell me at all! As soon as I'd proved my mortgage offer, they took the property off of rightmove and stopped marketing right on the day the offer was accepted.

My worry is that the seller has a price she thinks the house is worth in her head and compromised on that when agreeing to my offer on Monday so in the future, if the prices go up whilst we are doing all the stuff we need to do, will she rethink again.

Can I do something like get her to sign something saying she will reimburse me the survey costs (or share them) if she drops out? I was thinking of going for the highest level of survey as the house has had a pretty major extension (to be fair, it all looks very high quality rather than a cheapo botch job and the friend that came to view who had experience in building agreed).

There's nothing in the house that I want left there (I have all my own white goods and the oven is included anyway, plus I'd want my own curtains etc...). The only thing I'd like is gas and electricity certificates as the house has had an extension and a fair bit of work on it.

I've got nothing to sell as I sold and moved into rented accomodation but the seller has only started looking for a house this week upon receiving my offer. I don't feel that its my place to fund the difference between what she "wants" and "needs"! I just need to pay what I think the house is worth to me. Seems to me that there is a risk that she will look around and perhaps think oh well nothing that suits me at the right price so I won't sell just yet. Yet she said to me that she needed to downsize for financial reasons.

Oli.s

I'd refuse and view more houses with the agent. Make sure the agent knows you've carried on viewing houses so they feed it back to the seller.

Also let the agent know that if the seller stops messing about and is prepared to honour your agreed original offer they should give you a call and you'll consider it if your still in the market.

Conrad

Oli.s wrote: »

Also let the agent know that if the seller stops messing about and is prepared to honour your agreed original offer they should give you a call and you'll consider it if your still in the market.

In this market don't be surprised if the seller tells the buyer to poke it as it's pretty easy now to find another buyer.

I notice the most awkward buyers later become the most awkward sellers, they want everyone else to take a drop but they never drop themselves. Odd people, very odd.

Doozergirl

As I said before, there is nothing you can do to legally protect yourself against her dropping out.

There is little point in your speculating. If you are a good and honest person, then go and ask her, straight out what the matter is instead of letting your imagination run wild for three days!

If you start the process suspecting people, it will only get worse for you. If you have a problem, air it. Suck it up and go and ask the person who has the answer - not us

jjjay

Thanks - I would definitely not class myself as a difficult buyer - if I make an offer, I'm happy to stick to it (I'd never renegotiate downwards after agreeing just because I knew the seller had started purchasing their new house or that I "had them over a barrel"). I would always want to act in a credible, ethical way (although this doesn't mean I can't be strategic!).

Ironically I am a professional negotiator for a living, just don't like work to cross over into personal life! I was fully prepared for a back and forth negotiation over the intial price which is why I went in lower than I expected to pay.

I think I will call the EA (not sure there's a direct line to the seller) and talk about some of my concerns before reconsidering the offer.