Sense check - am I doing the right thing (buyer wants to negotiate pre exchange)

Mojisola

Walcott wrote: »

They still have not replied. The EA is chasing them but hasn't been able to speak to them. I'm not sure if this is a tactic of time wasting or if they are just slow but to me it looks like re marketing is the best way forward. However the EA wants to make contact first before doing that.

But the EA is working for you - if you want to get it back on the market, get them to do so.

mandaruk

Walcott wrote: »

but to me it looks like re marketing is the best way forward.

Can you PM me property listing url please? Im looking for something closer to crossrail station.

Thanks

System

Well things got interesting this afternoon. The EA came back around 4pm with the buyer requesting 50% of the cost to be shared. I said no. Then the buyer came back with 25%. I said they can suggest whatever they want but this is not happening. On top of this I stipulated that next Wednesday is the deadline for exchange and if contracts are not signed I expect you to have the house marketed.

This is when things got strange. The EA then calls and says they have requested a meeting face to face. He usually declines these as he is my representative and therefore he will deal with all queries. However in this case he would like to go ahead. So I turn up at his office and he gives a quick brief and says do not be drawn in to their arguments. They will try to take this all over the place.

We meet with the EA present. I and them have a back and forth. And then the EA steps in and shows why he is the one that sells lots of houses around here. His argument is basically - so let's get to the bottom of this. You know my client has a house to buy and you are thinking he is desperate because of that. Well here is the thing - I put properties like his on at 290k nowadays. So you want 6k from him. Well how about this - I remarket his property, I tell his seller his offer goes up by 10k to secure that house for 3 more months and sell his house within days for 20k more. My client gets more, his seller who is also my client gets more and you get to spend around 25k to buy the same house somewhere else - rest assured I won't be selling it to you.

They then agreed to exchange within 10 working days max at 265k and if not the house will be back on the market.

gazter

Walcott wrote: »

Well things got interesting this afternoon. The EA came back around 4pm with the buyer requesting 50% of the cost to be shared. I said no. Then the buyer came back with 25%. I said they can suggest whatever they want but this is not happening. On top of this I stipulated that next Wednesday is the deadline for exchange and if contracts are not signed I expect you to have the house marketed.

This is when things got strange. The EA then calls and says they have requested a meeting face to face. He usually declines these as he is my representative and therefore he will deal with all queries. However in this case he would like to go ahead. So I turn up at his office and he gives a quick brief and says do not be drawn in to their arguments. They will try to take this all over the place.

We meet with the EA present. I and them have a back and forth. And then the EA steps in and shows why he is the one that sells lots of houses around here. His argument is basically - so let's get to the bottom of this. You know my client has a house to buy and you are thinking he is desperate because of that. Well here is the thing - I put properties like his on at 290k nowadays. So you want 6k from him. Well how about this - I remarket his property, I tell his seller his offer goes up by 10k to secure that house for 3 more months and sell his house within days for 20k more. My client gets more, his seller who is also my client gets more and you get to spend around 25k to buy the same house somewhere else - rest assured I won't be selling it to you.

They then agreed to exchange within 10 working days max at 265k and if not the house will be back on the market.

that has cheered me up no end....

G_M

Score one for estate agent!

So rare on here that you get a positive story or report about them.

But good for you too for reading the thread, taking suggestions on board, and holding firm.

duchy

I *LIKE* your agent !!

pearl123

I wouldn't sell to them. They find problems the second they move in.
Sorry, to say that.

tealady

This happened to someone I knew who was selling their late parents house. The buyer kept ringing asking for a few £100 off here and there (it was years ago!) Seller got so fed up they told the EA that the next time the buyer calls the sale stops, even if it is on exchange day. They never had another call from the buyer and the sale went through quickly after that.
Some people just love to haggle.

questionss

pearl123 wrote: »

I wouldn't sell to them. They find problems the second they move in.
Sorry, to say that.

They've bought it once they've moved in & it's their problem not OPs

Good work OP

rosie383

Fantastic Walcott! Good on your EA! Sometimes they are worth every penny.