Unreasonable purchaser can we do anything?

silvercar

Gazundering.

Not moral behaviour.

Dan-Dan

Road_Hog wrote: »

Of course it is morally wrong. Legal yes, morally right, no.


I hope that the seller tells the buyer to take a running jump off of a short pier.


I had this recently, fortunately it was a rental property I was selling and I wasn't moving home. The whole thing took about four and a half months, he was a first time buyer and I wasn't buying a property. The day before we were due to exchange, he sends a letter through his solicitor to ours, dropping the price by £15K.


My official response by email to the EA, was FOAD you C. I honestly did send that, but in full, not just an acronym. My view is, that if you give into these low lifes, then you only encourage them.

Quality , i would have loved to see the EA`S reaction when he read that , absolutley 110% what i would have said as well

Leo2020

It is rubbish but some people will always take an advantage of a situation knowing that others are likely to give in.

Example of what happened to me:

-Received an offer of 89k on my house after less than a week the buyer changed their mind
-Received an offer of 85k from a developer, he said he knew it was worth more but he wasn't prepared to go any higher. We were buying a house through Keepmoat and was given the impression that if we didn't except the offer then they would sell the house we reserved to someone else
-About a week and a half later we had another offer of 89k, we took it as we needed the money (we bought the house for 106k and were losing a lot)
-Was all going well for a few months, had the survey done, nothing major to put them off and then they said they didn't want to buy the house just yet but in 6 months time - what?
-Keepmoat gave us two days to find a new buyer, the guy who offered 85k put a new offer in of 81k, he said he deducted the 4k to cover his solicitors fee - yeah right
-We took the offer because we loved the new house so much

In the end none of it mattered because Keepmoat sold the house to some else. Won't bore you with the details as there is already a thread about it.

Both me and my husband were very tempted to tell the guy who offered 81k exactly where to shove it but we didn't to keep the chain going.

movilogo

This is why I think the process should be similar to that of in Scotland. Put a sealed offer and that is legally binding.

flora48

The person at the bottom of the chain holds the trump card and these days they know it.

While the house buying system in England remains as it is we can all be held to ransom by someone wanting to get a a price cut. Legal yes, morally wrong.

After months of shenanigans my buyers buyers exchanged at the eleventh hour then merrily tootled off to India for six weeks before completion, leaving us all totally stressed out.

martan01

It's morally wrong from both sides, gazumping or gazundering...

However I disagree that the person at the bottom of the chain holds the cards, it's any person that isn't fully committed to the sale/purchase or has doubts who holds the cards. You can only move as fast as the slowest person.

I was bottom of a three house chain sale, should have been a quick process, over 5 months to exchange in the end....

DRP

martan01 wrote: »

It's morally wrong from both sides, gazumping or gazundering...

However I disagree that the person at the bottom of the chain holds the cards, it's any person that isn't fully committed to the sale/purchase or has doubts who holds the cards. You can only move as fast as the slowest person.

I was bottom of a three house chain sale, should have been a quick process, over 5 months to exchange in the end....

..and also it is *usually* the person at the bottom of the chain who can least afford to throw away legal fees and survey fees if the gas under attempt goes sour.

Hope you work things out, OP. Personally I would be standing firm or letting the directly linked member of the chain deal with this...