Unsure how to proceed with purchase

WombleBat

Dan-Dan wrote: »

If you have given the heads up to the EA that 16k works is required and still saying your offer is 260 , and it hasnt been accepted it would seem to me that you have already alienated the vendor and the EA , they probably think even if they do accept 260 , at some point your going to want to drop the price....especially once you have spent hundreds of pounds on a structural survey

I have been assuming the EA is being cruddy and not passing on much to the vendor other than the offer and advise not to accept, this offer was passed on before the conversation about the repairs so no idea if its been relayed to the vendor or not.

Not told them I plan to do structural survey.

megaginge wrote: »

Probably not good advice, but this is one of those situations where I'd really like to know what the vendor was thinking directly, cut out the agitative middle man

But people always recommend to avoid talking to the vendor, for some reason.

(Personally my sale would have fallen through for sure had I not engaged with the vendor directly)

If it was couple or individual I would happily talk to them, multiple beneficiaries of a will... no chance. Way too easy to get their backs up. We had this and the buyer spent 2 hours criticising everything our grandfather had done to the place, not a pleasant experience and did him no favours.

Dan-Dan

You really need to tread carefully here, i have sold a probate property in the past with more than one beneficiary , they may be quite happy to just keep on waiting, or they may be just as happy to not deal with you at all and instruct the agent accordingly

You have to be careful because your dealing with people who are probably not going to take kindly to `cheeky` offers and tiny increments, people, especially emotional people, are prone to strange decisions and choices , one of which might be to completely turn you down and move on

JimmyTheWig

WombleBat wrote: »

Offer went in for £260,000 and then we discovered the issue.

At the moment going to wait and see what happens with this offer. IF its accepted then I think we will proceed and accept the costs and then see what the survey uncovers.

I think you should tell the EA this.
If I was selling this house, I would expect a purchaser to drop their offer by £16k once the survey came back.
So an offer of £260k would result in a final offer of £244k. Which they are rejecting.

If they know that this is a final offer of £260k that's a very different proposition. That's basically asking price dropped by the £16k work that needs doing.

WombleBat

JimmyTheWig wrote: »

I think you should tell the EA this.
If I was selling this house, I would expect a purchaser to drop their offer by £16k once the survey came back.
So an offer of £260k would result in a final offer of £244k. Which they are rejecting.

If they know that this is a final offer of £260k that's a very different proposition. That's basically asking price dropped by the £16k work that needs doing.

Good shout, the obvious answer I had not considered!

Jhoney_2

Their thinking he's taking the mickey, lol.

They may never have been in this position before either and as per your own experience OP, it is clearly an emotional one - then everyone has to agree the finances and the closure and decide to move on.

It not as simple as your offer/EA games? vendor greed or not. We can all look from a distance and say its a business transaction (which it is), but it is not us that is emotionally involved. The owner is deceased. People are perhaps still grieving, going through possession etc.

Difficult times, cheeky offers and haggling make very strange bedfellows.

It may just be your approach that needs tweaking a little somehow.

Dan-Dan

WombleBat wrote: »

Good shout, the obvious answer I had not considered!

I already posted it to you half hour ago

megaginge

JimmyTheWig wrote: »

I think you should tell the EA this.
If I was selling this house, I would expect a purchaser to drop their offer by £16k once the survey came back.
So an offer of £260k would result in a final offer of £244k. Which they are rejecting.

If they know that this is a final offer of £260k that's a very different proposition. That's basically asking price dropped by the £16k work that needs doing.

That was my point. If the EA understands this it seems very reasonable.

Only outstanding issue is what will the lender valuation end up offering, because OP doesn't have spare funds to do the work, he wants to release the funds as part of the purchase at least in part but also can only reach 95% LTV ..

Dan-Dan

megaginge wrote: »

That was my point. If the EA understands this it seems very reasonable.

Only outstanding issue is what will the lender valuation end up offering, because OP doesn't have spare funds to do the work, he wants to release the funds as part of the purchase at least in part but also can only reach 95% LTV ..

The outstanding issue is that the vendor is not accepting 260 , never mind any renegotiated price

Jhoney_2

Dan-Dan wrote: »

You really need to tread carefully here, i have sold a probate property in the past with more than one beneficiary , they may be quite happy to just keep on waiting, or they may be just as happy to not deal with you at all and instruct the agent accordingly

You have to be careful because your dealing with people who are probably not going to take kindly to `cheeky` offers and tiny increments, people, especially emotional people, are prone to strange decisions and choices , one of which might be to completely turn you down and move on

^^^^ Exactly my point.

It took me so long to post, I didn't see this.:)

WombleBat

Dan-Dan wrote: »

You really need to tread carefully here, i have sold a probate property in the past with more than one beneficiary , they may be quite happy to just keep on waiting, or they may be just as happy to not deal with you at all and instruct the agent accordingly

You have to be careful because your dealing with people who are probably not going to take kindly to `cheeky` offers and tiny increments, people, especially emotional people, are prone to strange decisions and choices , one of which might be to completely turn you down and move on

I agree with this, the agent initially implied there was a single vendor, the news that there are several was news to us after the first offer!

As mentioned I was in the same position, in the end we had two identical offers, the guy who came to see us and upset everyone and another easier person. Guess who we accepted!