FTB advice please: Possible gazundering

WeaponX

I'm a FTB, and have been looking to buy a house last year. I found a house that I liked in a well sought area in London and so the 'negotiations' began. On the outset the EA stated the figure the vendor wanted which I tried my best to lower but eventually succumbed to the figure the EA wanted back in December last year.

It's been almost six months where I have been waiting for the seller to find another house and complete the chain. In this time I've signed a new lease where I've been renting, which will cost money to break and that I'm moving offices which will increase my journey time from this house.

I was also promised the washing machine and tumble dryer which the sellers now refused to include in the deal.

I am now due to complete and am considering lowering my offer for the reasons said above. I know this isn't the moral thing to do but my situation has changed since the offer was agreed back in December. If I knew it would take this long I would or reconsidered.

Advice would be welcome.

Daerve

Feel free to try but don't be surprised if the seller calls your bluff.

The journey times you knew about when you offered on the house and the lease I'm afraid is not the seller's problem. As for the white goods, £100 worth and you want to gazunder them for it!

As it's in London the six months you have been waiting would have seen a decent increase in the asking price anyway. The seller may well thank his lucky stars and put it back on the market and make an extra 5%.

Pixie5740

Why did you sign a new lease? That was a silly thing to do and something you most likely did not have to do.

As for the washing machine and tumble dryer, just let it go. Try finding them from BHF, Gumtree or Freecycle when you move in. Secondhand white goods aren't very expensive.

After waiting for so long why throw a spanner in the works? If you've gone off the property then go and find somewhere else to buy and start the process all over again.

Red-Squirrel_2

These are the perils of buying a house that comes with a chain, I presume that was known at the outset and it wasn't sold as 'chain free'?

The cost of a washer and dryer is negligible compared to a house, but if they've listed them a included I'd talk to your solicitor to remind them of this.

Don't gazunder, its a rotten trick to play, nothing you've written justifies it and think ahead to when you want to sell and how you'd feel if your buyer tried it on you!

Hoploz

Things have changed for you I can see that. However, what it boils down to is whether the house is right for you. White goods and a small sum on the lease are not in the big picture here. Is the new commute really as issue? If you genuinely feel you are buying in the wrong area, and you can find something in a more convenient location then you would be doing the wrong thing by continuing.

The seller would of course be furious, but this being London I would imagine they will get another buyer pretty quickly and likely for more money.

Think very carefully. Don't throw your toys out because of small niggles, think about the longer term here.

WeaponX

Thank you all for your response. To answer your points.

True I did know they were going to be in a chain but not take six months for them to find somewhere.

I had to sign a new lease, I didn't know how long they were going to take to find a place or even pull out of the deal. What was I supposed to do.

It only got announced recently that we are going to move offices by the end of the year.

Personally I wouldn't keep someone waiting on the start of the chain for six months and then lie about the white goods.

Now I need to think carefully on what to do next.

System

White good are trivial.

New lease and time of length for chain to complete are irrelevant from a negotiating POV because if you pull out that stays your problem. The closes to completion you will get as of today is probably the transaction you are in.

If commute is an issue, you should just pull out.

I do understand your frustrations. I'm in a similar situation right now. But it is difficult to go back with these kind of issues as most will say they are normal for a property transaction.

Pixie5740

WeaponX wrote: »

True I did know they were going to be in a chain but not take six months for them to find somewhere.

Welcome to the world of buying property in England

WeaponX wrote: »

I had to sign a new lease, I didn't know how long they were going to take to find a place or even pull out of the deal. What was I supposed to do.

You didn't have to sign a new lease. If your current fixed term was coming to an end you could have just let the tenancy become periodic. That ship has now sailed.

See Ending/Renewing AST for further information.

WeaponX wrote: »

It only got announced recently that we are going to move offices by the end of the year.

If you think that the property is no longer in a suitable location then start looking for somewhere else because location is the one thing you cannot change.

WeaponX wrote: »

Personally I wouldn't keep someone waiting on the start of the chain for six months and then lie about the white goods.

Did they really lie about the white goods or could it have been a misunderstanding?

Now I need to think carefully on what to do next.[/QUOTE]

WeaponX

No misunderstanding they clearly said in the beginning that the white goods were staying. Now that the property they're buying comes empty they want to take them. That's a bit off.

Also the EA called me on Friday that they now want a quick completion as the people on the top of the chain are thinking of raising their price. Works both ways doesn't it?

ethank

Sounds like you don't really care about this property anymore and just want to teach them a lesson. Is this not bitterness? Agree - white goods will come in handy, but how old are they, will they be cleaned properly. I'd rather have my own stuff!

Red-Squirrel_2

Don't cut off your nose to spite your face. If you still want the house get completion done and get in. If you don't want it anymore because the location is no longer suitable, pull out as soon as you're sure.