Last minute price rise

googler

"Dear seller, if you wish to renegotiate on the price we previously agreed, I offer you (price less £5k, £10k as appropriate) as my starting point for negotiations. I look forward to hearing from you or your agents.

You can, of course, continue the conveyancing process at the previously-agreed price."

getmore4less

I would have though the first thing to do is call the solicitor and ask how the exchange is going are we still on target for x date etc.

Get yours engaged with the vendors solicitor and find out whats really going on.

Jenniefour

I am assuming this property is not in London - if it is I suspect that it's just going to get put back on the market to try for a higher offer. Which may well work.

If not I would simply call the agents are say "we're out then, unless the vendor is willing to proceed at the agreed price".

This happened to me a long time ago. The day before exchange the EA called to say a friend of the vendor had offered more. EA was squirming, she know it was invented but had to pass it on to me. I said "I'm out in that case". Next day I got a phone call to say the friend had decided not to proceed.

I would call their bluff on this one - no need at all for a letter/email - a one minute phone conversation with the EA is sufficient.

googler

As you can see from the OFT report I cited here, nothing is agreed when you make an offer in E&W - not even the price.

http://forums.moneysavingexpert.com/showpost.php?p=64886571&postcount=48

Time for change? Lobby your MP if you think so.