Really dislike my seller!

DRP

TrixA wrote: »

We discovered some new information about the house that wasn't obvious on viewing. I think most people would have requested a reduction in those circumstances. Our high offer price reflected the fact the the house was in excellent cosmetic condition.

To be fair the seller met you half way.

Not all sellers would shift the price that much.

As a previous poster said, treat it as a business deal. It is difficult, but no point in letting 'dislike' get in the way of making good decisions - especially as you certainly seem to have 'won' this battle by getting a pretty decent discount.

TrixA wrote: »

The indemnity is for an internal structural wall that has been removed, with no record of any building consents. The seller claims to know nothing about it but given that we now know she has family in the trade (hence the bad DIY) I'm not sure I believe her. Apparently the indemnity will cover us for council enforcement action but not for structural failure, so we are still taking quite a risk.

I think many vendors will refuse/be reulctant to contribute to an indemnity, becasue in reality it doesn't protect against anything.

TrixA

Thanks DRP, I'm ok with the agreement we've come to, it was more the way it was come to. I'm used to dealing with negotiation situations as part of my job and if you want to keep things amicable I think it's important to show respect for the other person's position, which she did not do. But I should probably just move on, as others are saying up thread!

jjlandlord

TrixA wrote: »

The sale price is over £400k and she's quibbling over a few hundred for an indemnity.

The argument goes both ways.

You're betting that she won't want to lose the sale for the sake of that small cost.
She is probably betting the same.

G_M

The seller just wants to sell their house as it is, at an agreed price.

You are unhappy with the house as it is, so the seller reduced the price. Lucky you!

Now you want some pointless indemnity insurance that will never pay out, to cover some circumstance (eg lack of Building regs long ago that they'll never be enforced) that will ever arise.

You actually want to buy this property? You're paying around £400K and you're quibling over a couple of hundred pounds?

:wall:

moneyistooshorttomention

No good expecting anything other than a business relationship between buyer and seller. Anything more is a bonus.

I have disliked both my sellers and I turned out to be right to do so, as both of them weren't quite ethical (as I had suspected).

I had the chance to buy a house from someone I had come to know and like and who even shares a lot of my tastes, and I was definitely regretful her house wasn't right for me. So was she, as the buyer she eventually got gave her a fair bit of trouble that I wouldn't have done.

Moral = it is what it is.

TBagpuss

enthusiasticsaver wrote: »

What is it with solicitors and indemnities these days? Both us and my daughters have bought and sold five different properties this year and three different solicitors have suggested indemnities for various works from electrical work to new windows/doors without guarantees (lost) to chancel repair liability. Are they on commission for these relatively new products? We never had these years ago. ?

No, solicitors don't get commission. he reason why there are more indemnities is partly because lenders are more risk-averse and partly because solicitors have learned that they are seen as an easy target when anything goes wrong, and are not prepared to carry the risk.

Bluntly, your solicitor will recommend that you get one because they would be negligent if they failed to give you that advice.

If you chose to ignore that advice and do without the indemnity then that is your choice (subject to your lenders requirements, if any)

Jagraf

TrixA wrote: »

Thanks DRP, I'm ok with the agreement we've come to, it was more the way it was come to. I'm used to dealing with negotiation situations as part of my job and if you want to keep things amicable I think it's important to show respect for the other person's position, which she did not do. But I should probably just move on, as others are saying up thread!

If you negotiate as part of your job then you know people negotiate in all kinds of ways. You have the choice to walk away if you want to.

The seller doesn't need to show you any respect if they don't want to, that might be a risk they take, but its up to them.

You don't know their personal circumstances either, maybe they just can't afford to reduce the price, end of.

It's all about psychology!

Jagraf

TrixA wrote: »

We discovered some new information about the house that wasn't obvious on viewing. I think most people would have requested a reduction in those circumstances. Our high offer price reflected the fact the the house was in excellent cosmetic condition.

But that's all irrelevant. You are stating your case for reducing the price, but you could offer 2 million pounds more and the seller could still say no.

AdrianC

DRP wrote: »

I think many vendors will refuse/be reulctant to contribute to an indemnity, becasue in reality it doesn't protect against anything.

Oh, but it does. It protects against the buyer thinking "Sod this" and walking away...

TrixA

We told our lawyer to forget about the indemnity but she said we'll have to get one because the wall removal was highlighted in both the mortgage valuation report and the subsequent structural survey. She says it will cost £120, so not a big cost. I think what is irritating me is that the lawyer requested the indemnity from the seller's solicitor weeks ago, and it's only now that we've negotiated the price reduction (in the form of an 'allowance for works') that the seller has come back and refused to pay for it.