Offer accepted but we have cold feet

GW4608

Hello, I hope that some of you may be able to offer some insight regarding my situation.

My husband and I have offered on a house that we like. We went in low originally, but we told by EA that the vendor ideally wanted the asking price, but would consider 5k lower. We did some scrabbling around to raise extra money and went back in a week later with that amount. The vendor asked for a couple of days to think and after we chased up said they wanted more or they would take house off the market. By this point we were already questioning the motivation to sell (on market due to divorce) and said no. After half an hour we were called back to say the offer of 5k less would be accepted.

Now we are very scared that the vendor could change his mind again before completion and we will lose this house and x amount of money.

Some other contributing factors are:
- looks like a new roof is needed and damp needs sorting (but at this rate we don't think reductions after survey would be entertained)
- we are coming to completion on our home and will be moving in with friends for now, but we need to complete on a purchase within 90 days of redeeming our mortgage to carry it over and retain the excellent rate we are on)

Vendor's estate agent says he panicked but is motivated. My estate agent reckons the vendor's EA was trying to push up the price, or as he is the spouse left in the home, is reluctant to accept a lower price - but he is probably motivated to sell.

My husband wants to walk away now, but I am wondering if we should say the offer depends on it coming off the market/viewings stopped, subject to survey, and timely completion. Such a shame as we thought having an offer accepted would be exciting, now it feesl like a taste of misery to come.

Sorry for the lengthy explanantion, but thoughts from anyone with the staying power to read through the post would be welcome!!

Dan-Dan

Run......as fast as you can

GW4608

Thanks Dan-Dan - you are probably right.

What were the main alarm bells for you?

Dan-Dan

GW4608 wrote: »

Hello, I hope that some of you may be able to offer some insight regarding my situation.

My husband and I have offered on a house that we like. We went in low originally, but we told by EA that the vendor ideally wanted the asking price, but would consider 5k lower. We did some scrabbling around to raise extra money and went back in a week later with that amount. The vendor asked for a couple of days to think and after we chased up said they wanted more or they would take house off the market. By this point we were already questioning the motivation to sell (on market due to divorce) and said no. After half an hour we were called back to say the offer of 5k less would be accepted.

Now we are very scared that the vendor could change his mind again before completion and we will lose this house and x amount of money.

Some other contributing factors are:
- looks like a new roof is needed and damp needs sorting (but at this rate we don't think reductions after survey would be entertained)
- we are coming to completion on our home and will be moving in with friends for now, but we need to complete on a purchase within 90 days of redeeming our mortgage to carry it over and retain the excellent rate we are on)

Vendor's estate agent says he panicked but is motivated. My estate agent reckons the vendor's EA was trying to push up the price, or as he is the spouse left in the home, is reluctant to accept a lower price - but he is probably motivated to sell.

My husband wants to walk away now, but I am wondering if we should say the offer depends on it coming off the market/viewings stopped, subject to survey, and timely completion. Such a shame as we thought having an offer accepted would be exciting, now it feesl like a taste of misery to come.

Sorry for the lengthy explanantion, but thoughts from anyone with the staying power to read through the post would be welcome!!

As highlighted! (you should have already had it marked as stc , no viewings etc when offer was accepted)

DaftyDuck

GW4608 wrote: »

Hello, I hope that some of you may be able to offer some insight regarding my situation.

My husband and I have offered on a house that we like I note you like it.... not love to bits, want to leave in a box in thirty years.... We went in low originally low in Dafty terms is around 20% off the actual value, not the asking price...., but we told by EA that the vendor ideally wanted the asking price Of course he would... but what's the house worth - what do you value it at!, but would consider 5k lower than the agent's extortionate overinflated stab-in-the-dark guestimate. We did some scrabbling around to raise extra money ...so you are financially stretching yourselves....and went back in a week later with that amount. The vendor asked for a couple of days to think have a stand-up row as to whether to accept or not... die in hell you evil cheating !!!!!!... oh it's all your fault and i never loved you anyway and even the brat is the milkman's... and after we chased up said they wanted more or they would take house off the market ... and not sell to anyone? alarm bells start... By this point we were already questioning the motivation to sell (on market due to divorce :eek::eek::eek::eek: always rings alarm bells.... almost always difficult sellers...) and said no. After half an hour we were called back to say the offer of 5k less would be accepted. ...my that was quick... they were obviously delighted they'd conned you into such a high offer...

Now we are very scared that the vendor could change his mind his ...her...their minds, either solicitor, wife's daddy, who would rather pull his own testicles off than see the husband get a penny....... again before completion and we will lose this house and x amount of money yep, and more likely than normal when there's a divorce in the offing.....

Some other contributing factors are:
- looks like a new roof is needed and damp needs sorting (but at this rate we don't think reductions after survey would be entertained) ...and didn't you just stretch yourselves on the purchase price? new kitchen, carpets, thay can wait, but a roof & damp, they need doing if they need doing....
- we are coming to completion on our home and will be moving in with soon-to-be exfriends for now, but we need to complete on a purchase within 90 days of redeeming our mortgage to carry it over and retain the excellent rate we are on) so a problem with any house purchase, especially with a chain...

Vendor's estate agent says he panicked but is motivatedbut is she... is he really? are they, for the first time in fourteen years actually agreeing???? Maybe they'll make up, fall in love, and live happily ever after in your house.... My estate agent who works for himself, and really, really, really, really, really, really, wants the commission on your sale, and doesn't care if you are then hit by a truck... reckons the vendor's EA was trying to push up the price which is his job...., or as he is the spouse left in the home, is reluctant to accept a lower price - but he is probably motivated to sell how would he have any better idea than I would?.

My husband wants to walk away now sensible man. I'd marry him myself, but for two facts...., but I am wondering if we should say the offer depends on it coming off the market/viewings stopped, subject to survey, and timely completion which they will then ignore as they wish, and you will have even more false hope.... Such a shame as we thought having an offer accepted would be exciting, now it feesl like a taste of misery to come oh you wait... misery will come aplenty, in all likelihood....

Sorry for the lengthy explanantion, but thoughts from anyone with the staying power to read through the post would be welcome!!

Well, I had the staying power. Look elsewhere. you've overstretched, already having doubts, divorcing couples are a nightmare, you'll lose your best friends into the bargain, and the house is obviously cursed, and you, too will end up divorcing... or killing each other.

Well, we are all allowed our own opinion, and it has been a very slow day here at Dafty Towers!

Surrey_EA

When you're trying to purchase a property that's being sold as a result of a divorce, it is important to understand at what stage the matrimonial proceedings are at, as this will affect how quickly any sale can progress.

GW4608

DaftyDuck wrote: »

Well, I had the staying power. Look elsewhere. you've overstretched, already having doubts, divorcing couples are a nightmare, you'll lose your best friends into the bargain, and the house is obviously cursed, and you, too will end up divorcing... or killing each other.

Well, we are all allowed our own opinion, and it has been a very slow day here at Dafty Towers!

Thanks very much for your staying power Dafty Duck!

GW4608

Thanks Surrey_EA - good advice. I was unsure how far we could delve.

Dan-Dan

Not bad staying power there Dafty , all things considered......;):D

DaftyDuck

Dan-Dan wrote: »

Not bad staying power there Dafty , all things considered......;):D

You mean my approaching senility, alcoholism, and failed anger :mad::mad::mad: mismanagement issues....

Well, it has been a very slow day workwise, I have been dealing with a) a letting agent (9:00 to 10:30), b) 2 estate agents (11:00 to 11:30) and, c) a lack-of-surveyor-results (all day... and last two days... where is it!!!!!).

Surprised I didn't punch my screen out, really

GoldenShadow

The house we're buying sold in April. Well, an offer was accepted. It fell through the week before exchange because the person was mid divorce and the other party has decided they want a bigger settlement so now the buyer can't afford it, hence why we have snapped it up.

I would be looking elsewhere if I were you, go with your gut.