Gazundering!!!!

Lokolo

I don't understand why you are even giving the buyers a chance! Just tell EA to put it straight up on the market today, at a new higher price (if its worth that much now). The buyers will then get the hint.

I wouldn't even consider talking to them anymore.

Unless you are really in a rush to get it sorted before Christmas.....

Road_Hog

Prothet_of_Doom wrote: »

Based on my previous house buying and selling experiences, I'd cut my nose off to spite my face, put the house back on the market £15K more, and tell them to jack off.

Yep, same here. Plus a note (you should have their current address through your solicitors) to them to say, I hope you liked paying for your survey and solicitor's costs.

Kazza_Monkey

Well no I'm not in a hurry at all hence I've allowed it to drag to 12 weeks. I'm beginning to think that those suggesting putting our house back on the market are right. I guess I have just been too nice as stupidly I thought our buyers really loved the house. Will be contacting the EA tommorrow to give the ultimatum quite rightly the market has gone up significantly in our area over the last couple of months and I live in a bungalow which are very few and far between I had 4 viewings in 4 days before getting offered at the full asking price so its not like it is difficult to sell. I had 3 EA's fighting it out to get me to sell through them as none of them had any bungalow's on their books, but has the high demand for them as where I live many people like to retire from London as we are at the seaside. Thanks for all the input Guys

bebewoo

Good for you Kazza

JimmyTheWig

It sounds like they are trying it on by leaving it this late without sayign anything.

But I think this...

Kazza_Monkey wrote: »

well the valuation came back at the same as their offer. The Home Buyer Report was extensive in its detail so the price has reflected the works that need attention. The house 2 doors away from us is on at £15k more than we were so I dont think I am unreasonable.

... is all irrelevant.

The point is that the buyers put in an offer based on what they felt that it was worth to them. That was on the basis of what they could see. If there are problems in the report that they wouldn't have known about at the time then it is worth less to them than they originally thought.
So I think it's perfectly reasonable to negotiate on price after the survey comes back even if the valuation matches the offer price.

warwicktiger

Good for you Kazza, I think I would do the same

Thrugelmir

Take the property off the market and relist it in the new year.

Kazza_Monkey

just an update:

Well I spoke to the EA and I have told them we want to go back on the market as of 02nd January 2014. Our buyers have now requested a damp and timber specialist survey for next Wednesday so we are going along with it even though our house isn't damp. regardless of what the survey comes up with we will only honour half way minus the 3k we spent on a brand new boiler last month (if 3k is more than half then no renegotiation). I know I'm weakening but this is with the proviso that we exchange before Christmas otherwise the deal is off I don't think we can be any fairer than that. will update this thread with any new developments :-)

lessonlearned

Did the buyer's lender put a retention on their offer after the survey.

Re the electrics - that is just a standard get out clause because surveyors do not test the electrics, same with boilers.

Re the damp - have they indicated where the damp might be. Re the timber specialist - again have they specified any problem areas i.e. roof timbers or sub floor.

It does all sound rather vague.

If you are not sure about the legitimacy of their claim you could get a builder round for a quote for remedial works. It wont cost you anything.

I agree the purchasers should have discussed this with you long before now and not left it till the eleventh hour.

Road_Hog

JimmyTheWig wrote: »

But I think this...

... is all irrelevant.

The point is that the buyers put in an offer based on what they felt that it was worth to them. That was on the basis of what they could see. If there are problems in the report.

WRONG.


The homebuyers survey was done at the beginning of October. If the buyers were genuinely worried about extra costs, they would have come back soon after and tried to negotiate a reduction based on the report.


To keep quiet until just before exchange, when people are thinking, yes, we're there, only to then blackmail them with a, we want a discount, is pure gazundering.


It's a really unpleasant trait, and sellers should tell the buyer to foxtrot Oscar, whenever they are in a position to do so. I realise that not everyone can, but the fewer people that give in, the less likely it will happen in future. If people fold all the time, just to sell, it will become an accepted tactic.