Vendor dictating terms

Bantex_2

chucknorris wrote: »

No it isn't!

Yes it is...

Generali

marlot wrote: »

You need to work towards a win:win rather than just demanding. Why should the vendor spend money just to keep you happy? What's to stop you demanding more and more work/money off?

After all, even if he spends the money, you could still pull out.

Economists call this asymmetry of information. The vendor might know what the problem is, the purchaser definitely doesn't.

The vendor knows just how much to discount by to make a profit. The buyer doesn't know where the good deal is.

grizzly1911

What type of leak?
Where is it?
How much would it cost to rectify?
Has the leak already been fixed and it is only evidence of a previous leak that is visible?
What type of "survey" was it?

In the case of the latter two points simple housebuyer surveys will often flag something to cover themselves.

If it is going to be a relatively cheap fix and you want the house, then accept it and move on.

Wasn't it a relatively new house you were looking at? Is it likely to Bea major issue?

Jenniefour

I've never bought a property without something wrong with it - that's properties, there aren't any perfect ones. I've ignored minor issues and the only time I've negotiated the price downwards on the basis of a survey was when one property needed a new roof - and got good builder in there to check prior to re-negotiating. That was in a buyers market, otherwise I might have just had to pay it all myself.

Always do any negotiations in a respectful manner via EA's. That's what they're there for. You are not being "pushed around" by the vendor - you sent a "strongly worded" email and copied the vendor in - so you have created a needless difficulty in your relationship with the vendor. That means the EA did not have the opportunity to put what you said in your email in a manner that might have invited serious consideration by the vendor. So, yes, there has been a communication breakdown - created, unfortunately, by yourself.

The relationship should always be mediated through EA's when there are negotiations afoot. Sensible EA's may well encourage a vendor to give something consideration if they can see it might otherwise end in an aborted sale with no prospect of getting another offer quickly.

You are a not in a good position now - the vendor has issued an ultimatum. So you will just have to wait and see whether the vendor intends to stick with the ultimatum.

Running_Horse

Did you sort this out like reasonable adults?

Or did the angry emails escalate into stubborn refusal to communicate?

downshifted

It may be a vendor's market but the property we walked away from onl 31 January is still up for sale. Only buy if you are sure.

Jason74

downshifted wrote: »

It may be a vendor's market but the property we walked away from onl 31 January is still up for sale. Only buy if you are sure.

Depends where you are in the country imho. In much of the UK, that will probably still be the case, and if the OP is in that sort of area, then he has a few options.

But in much of London and the SE, only the blatanty overpriced stuff stays on the books for more than a couple of weeks at the moment. If the OP is in that kind of area, the vendor can indeed "dictate terms" as any buyer will effectively need to put up with issues that they might normally (reasonably) walk away from if they are going to secure any propety at all.

Tony_Geo

w00519772 wrote: »

Does anyone else have a similar experience?

Its a very stressful time buying a house, especially your first. But you need to appreciate that a vendor is always in a position to dictate terms, even if many do not.


I have a friend that nearly sold her house three times and messed several buyers around. The basic problem was that she never really wanted to sell and it was only when she got the critical point she realised it. I sympathised on first occasion, but she did it twice again. She still lives in the house.