Advise on dealing with greedy sellers?

eagerftb

Now that we have everything lined up for more than a month and half the sellers were initially slow and now our sellers have turned around and said they want more money?

It's very nasty and greedy behaviour after having agreed on something.

What do you guys advise?

Dan-Dan

eagerftb wrote: »

Now that we have everything lined up for more than a month and half the sellers were initially slow and now our sellers have turned around and said they want more money?

It's very nasty and greedy behaviour after having agreed on something.

What do you guys advise?

Tell them to GTFO and buy someone elses house?

eagerftb

Thanks especially when there is no end to greed. If they have turned around at this moment they will do it again later in the process as well

My understanding is that Lender has valued it at the value and I will have to come up with all the extra amount somehow if even I decide to proceed...

Dan-Dan

even though our vendors costs us thousands when we moved in , in work that we hadnt spotted (hidden leaks etc) we still feel that the hysteria in the housing market , has meant we feel very fortunate to have got on the ladder when we did , as we feared getting the the period your in now , and going through what you are

as you say , if they act like this now ,who knows whats ahead in the transaction?

eagerftb

Only a good supply could make settle this hysteria..you pay so much..spend upfront to line up things and still there is no way to protect buyers..its all in favour of sellers..

eagerftb

Is there anybody who experienced that and still manage to negotiate or people generally walk away?

googler

Dan-Dan wrote: »

Tell them to GTFO and buy someone elses house?

This. Threaten to walk away unless they complete at the agreed price.

It would be absolutely unheard of for a seller to try and do this in Scotland.

hazyjo

Happened to me. They put it back on for a higher figure. We told them we were no longer interested and walked.

Tough decision. But I refuse to be held to ransom.

Jx

eagerftb

hazyjo wrote: »

Happened to me. They put it back on for a higher figure. We told them we were no longer interested and walked.

Tough decision. But I refuse to be held to ransom.

Jx

Brave..How long did it take for them to sell and did they really manage to achieve what they wanted?

hazyjo

Was a long time ago now - but the greedy pair's house had been on the market for months in a pretty static/slight rising market with at least three agents! Was a townhouse which, again, isn't always first on people's list. They put it up for £10k more. From memory, it was around the £120k mark (like I say, a long time ago now!).

I don't know when it sold, I stopped caring about it. Actually lost the next house too (they pulled out after we'd had the survey done and everything) and then bought the third. Nightmare year!

Jx

eagerftb

Man that's courage to keep going. Glad you are finally sorted. How does it work with the mortgage guys? Do they underwrite the whole thing again or just need a valuation?