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House vendor keeps asking for more cash - What to do?
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I would pull out0
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notanewuser wrote: ȣ42k over asking price at last count. :eek::eek:
Yes 42k over asking at the moment. A lot, but I've missed out on so many houses in the last 12 months for the sake of a few k and then seen them rocket up afterwards!
Consensus here seems to be that the vendor is taking the p1ss. I agree and am going to say that we are at our limit. I really doubt he is going to pull out for the sake of a couple of k.
I'm going to take pinkteapot's advice and tell them we are going to start looking again this weekend unless he commits to a date.0 -
Cheeky burger. I'd tell him to shove his house.Try to be a rainbow in someone's cloud.0
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I'd go for a simple "no". No moralising, no threats, no ranting, just no.0
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There was a similar thread on here a few weeks ago. The OP updated to say that after he said that he wouldn't increase his offer, the vendor said ok and then pulled out of the sale 6 weeks later.
In your shoes, I would say yes and then start looking for another property and pull out if you find one.0 -
£42,000 Over asking price....Oh dear....It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
As much as I'd like to tell you to say no and pull out, it depends. Do you like the property enough to pay more, how likely are you to find something else, how likely is the seller to pull out as are they really keen on the place they are buying and would they be at risk of losing it, how likely are they to find someone else who would pay as much or more than you? Sometimes the seller has more power and sometime the buyer does depending on the situation. I had to agree a long gap between exchange and completion that really adversely affected, even though I paid more for a quick sale. However there were no other suitable properties for sale, I needed to be in that area asap, the seller had just realised they had to pay a early repayment charge but wouldn't in 3 months time, others had previously offered the price we were paying and in a rapidly rising market they could probably now find someone willing to pay more. They had the power, but at least we reached the safety of exchange and now are very happy in our new home. However it did leave a bitter taste to let them have their own way.Don't listen to me, I'm no expert!0
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The market in London has definitely cooled a fair bit over the last month - there was no way it could carry on going as it was before. Houses are coming on and sticking around for a while now, partly because lots of people who were looking over the last 3-4 months have bought and partly some sellers have got greedy. That said I don't see the market crashing any time soon.
Personally (through gritted teeth) I'd offer them another £500 and tell them they've got a week to exchange (give them 2 months between exchange and completion to find somewhere to rent which should be more than enough). Poor form from a seller though. Contrary to what many might believe this kind of behavior drives estate agents absolutely mad - we don't get paid until completion.0 -
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The market in London has definitely cooled a fair bit over the last month - there was no way it could carry on going as it was before. Houses are coming on and sticking around for a while now, partly because lots of people who were looking over the last 3-4 months have bought and partly some sellers have got greedy. That said I don't see the market crashing any time soon.
Personally (through gritted teeth) I'd offer them another £500 and tell them they've got a week to exchange (give them 2 months between exchange and completion to find somewhere to rent which should be more than enough). Poor form from a seller though. Contrary to what many might believe this kind of behavior drives estate agents absolutely mad - we don't get paid until completion.
Where abouts in London are you working Dell ?0
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