Advise on dealing with greedy sellers?

hazyjo

You have to reapply as it's a new property as far as I can remember (lost a house about 3 years ago too) - although obviously they have most info on file. Mortgage offers generally only last 3-6 months so you do usually end up paying at least a couple of lots of fees and changing products/reapplying. Very frustrating.

Jx

cattie

eagerftb wrote: »

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...

This is perfectly usual. Valuers will either value at agreed selling price or in some cases under value. The value is never given as more than the agreed selling price.

If you applied to a new lender, it's perfectly possible they will value at the new agreed price seeing as we are now in a rising market.

Personally, unless you feel that you're getting a very good deal on the house, I'd put on those running shoes & head off in search of pastures new. Dealing with a vendor with no principles isn't to be recommended I fear.

I_have_spoken

Agree, then string them along until the day before exchange then gazunder them back to the original price due to 'worrying' survey results.

eagerftb

I_have_spoken wrote: »

Agree, then string them along until the day before exchange then gazunder them back to the original price due to 'worrying' survey results.

Would really serve the !!!!!! right...it would be a priceless expression when somebody gets to taste their own medicine!:T

Turnbull2000

How much more are they asking for? The housing market is moving fast again, so price growth of 2-3% over a month and a half is not unusual.

eagerftb

Asking for 7% more than what they accepted. Also as the market is expected to continue to move, they will then continue to ask till exchange is done!

cats_ahoy

I would tell them where to shove it. 7% increase after accepting an offer is ridiculous!

getmore4less

Start looking for something else very quickly to assess if there is anything better out there.

it may be they have been watching the market closely and feel things have moved, if they have then it might be time to reassess your prices as well.

how long has this chain been getting set up?

Spirit_2

A long time ago at the end of a selling slump we were all set to move...day before exchange our seller asked for 10K more to do unexpected work on the property they were buying.

They had been miserable and awkward throughout.

We paid 5K more the people they were buying from dropped 5K.

Horrible situation and if it had happened earlier in transaction I hope we would have walked away.

As it is we have been very happy here for 18 years...they moved again within a year or two.