Unreasonable purchaser can we do anything?

Adders68

We are in a chain of 5 houses all of whom are ready to complete on 16th December...however spanner in the works today ..our buyers buyer has decided that she wants the price of the house she is buying reduced. She already got a heavy discount because their first buyer fell through. The reason she wants a reduction is to pay for non essential home improvements ..there isn't anything wrong with the property according to survey. Everybody is really upset about this as it seems so underhand and she stands to spoil the Christmas of 4 families just so she can get a bargain. Perhaps the wrong forum to put this on but surely there is a point where ethcis come into bargain hunting ends. Nobody else can win because she either gets what she wants or we will all have spent money on surveys and legal fees for nothing....a change in the English system is long overdue...your thoughts please ..is there ever a limit to bargain hunting?

ihatemyhouse

there is nothing you can do and she knows it, so the buyer has to either agree or pull out

tberry6686

If you are due to complete on Dec 16th, have you all exchanged contracts yet ?

ognum

Interesting standoff situation, the vendor can call her bluff, come to a negotiated conclusion or give in.

can anyone else in the chain take some of the pain and give a bit. If not you are right, she holds all the strings.

G_M

One can only assume they have not yet Exchanged (or the buyer in question would have no choice), in which case saying "ready to complete on 16th December"is premature.

Putting that aside, has the buyer in question paid out cash yet? On mortgage application? Survey? Perhaps also gas/electric inspections? Searches?

If so, they stand to lose too if the deal falls through.

Stand firm.

pawpurrs

Its morally wrong, but up to the vendor not buyer what happens here, why does everyone incorrectly call vendors buyers.
I would stand my ground if there is no basis for this reduction. They may well not pull put, do these buyers have a sale or are they the bottom of the chain? Its often those at the bottom that pull these stunts.

moneyistooshorttomention

Ohgawd a brat. It may be that other people in the chain are also feeling more than a little upset that this person has decided to play at being a right brat and perhaps you could all "gang up together" with each other to deal with this?

Adders68

Yes you are right all were due to sign this week for exchange on Monday 9th but not exchanged yet. We've offered a contribution to the difference and going to contact those those we are buying from tomorrow to see if they can make a contribution. Yes she has paid out for a survey and I'm guessing will also have to pay for the work the solicitor has done so far so she does have something to lose. It just doesn't seem ethical really but so many people stand to be upset. I'm a keen money saver but I'd never stoop so low as to hold anybody over a barrell like this. Don't get me wrong I'm as keen as anybody to save money when buying from Large companies not from a young couple with a baby due very soon.

Facts are facts though she holds the cards and everybody else has to lump it. Thanks for your responses..much appreciated

moneyistooshorttomention

Oh well...don't forget the fish in the curtain rail thing then if you feel you have no option but to let her do this...and take all the light bulbs and how-to instructions...

Mickygg

moneyistooshorttomention wrote: »

Oh well...don't forget the fish in the curtain rail thing then if you feel you have no option but to let her do this...and take all the light bulbs and how-to instructions...

And milk in hard to reach places!!

Dan-Dan

moneyistooshorttomention wrote: »

Oh well...don't forget the fish in the curtain rail thing then if you feel you have no option but to let her do this...and take all the light bulbs and how-to instructions...

Its the op`s buyers buyer though?