Can we renegotiate after referendum

glasgowdan

Of course you can renegotiate your purchase. It's up to you and the seller. If you love the place and absolutely don't want to lose it then I wouldn't, but if you could potentially walk away without being upset then you're welcome to try.

Keep us posted.

warby68

You can try but be prepared to lose it.

Do you REALLY expect a vendor to take kindly to your argument? Even if they feel pressured to accept it, don't then expect an easy and smooth move thereafter.

Do you know what it means to 'shake hands' on a deal?

Mickygg

If anyone came to me quoting a zoopla reason for decreasing an offer I'd remarket immediately and tell them where to go.
As someone said before if zoopla increased by £17k and your vendors asked you for more money, just think how you would feel!
Carry on or pull out, quoting brexit as a reason to reduce offer is an insult.

upoiupou

AHomeBuyer wrote: »

We've been monitoring Rightmove and Zoopla over the last few weeks and it's not looking very positive. A significant number of pre-referendum property listing has been reduced (although unfortunately we can't see by how much)

This means nothing unless you've been monitoring them over months. If you pick any given date and look over the next few weeks, you might see that a significant number of pre-that-date property has been reduced. It happens all the time regardless of EU referendums for all kinds of reasons. It happens after EU referendums for all kinds of reasons including confirmation bias.

Your arguments are not very strong. The one single argument that would hold any weight if I were the vendor would be that the property you were selling was now valued lower and your own buyer had lowered their offer. Anything other than that is speculation and, I'm afraid, likely to give rise to suspicions of opportunism.

Nothing to stop you trying to renegotiate. Especially if you think this is genuinely fair and reasonable. I find it hard to see the evidence myself.

indianabones

A lot of one sided and crap replies in this thread.

Firstly it's your money and a lot of it. If the market determines that prices are currently stagnating or even dropping in some areas, then you sure as hell should be trying to get a reduction.

As some of the others have pointed out though, if you do try to renegotiate be prepared to lose it.

I know people who were haggling over price and extra bits right until the exchange, in most cases a middle ground was found.

I've halted my search for a home until probably Oct/Nov this year when post Brexit we'll have a better idea where we are market wise, but if I were in your shoes I would definitely ask for a reduction. If they pull out then good luck to them. I've posted on this forum in the last 2 weeks plenty of links to houses coming back on the market or being reduced in Birmingham.

Some sellers like the ones on this thread won't like renegotiation, but if the market determines prices are coming down then they'll just have to suck it up.

Don't be put off by the people in this thread, you don't have to guess twice to figure out they're all homeowners with a lot of equity and made full use of the housing bubble that was created pre-2008.

indianabones

Mickygg wrote: »

quoting brexit as a reason to reduce offer is an insult.

Insult? What about the ridiculous prices of houses right now? Are they not an insult to potential buyers, especially first time buyers?

AnotherJoe

Mickygg wrote: »

If anyone came to me quoting a zoopla reason for decreasing an offer I'd remarket immediately and tell them where to go.
As someone said before if zoopla increased by £17k and your vendors asked you for more money, just think how you would feel!
Carry on or pull out, quoting brexit as a reason to reduce offer is an insult.

^^^^^^ this

Not really because of the insult but because i would now not trust you to proceed, I'd suspect you'd do the same thing again five minutes before exchange, so I'd have to cover my back by finding another buyer.I wouldn't tell you that though I'd just put it back on the marketand see if another buyer appeared (I'd be upfront with them)

Guest101

indianabones wrote: »

A lot of one sided and crap replies in this thread.

Firstly it's your money and a lot of it. If the market determines that prices are currently stagnating or even dropping in some areas, then you sure as hell should be trying to get a reduction.

As some of the others have pointed out though, if you do try to renegotiate be prepared to lose it.

I know people who were haggling over price and extra bits right until the exchange, in most cases a middle ground was found.

I've halted my search for a home until probably Oct/Nov this year when post Brexit we'll have a better idea where we are market wise, but if I were in your shoes I would definitely ask for a reduction. If they pull out then good luck to them. I've posted on this forum in the last 2 weeks plenty of links to houses coming back on the market or being reduced in Birmingham.

Some sellers like the ones on this thread won't like renegotiation, but if the market determines prices are coming down then they'll just have to suck it up.

Don't be put off by the people in this thread, you don't have to guess twice to figure out they're all homeowners with a lot of equity and made full use of the housing bubble that was created pre-2008.

... I rent....

AnotherJoe

indianabones wrote: »

A lot of one sided and crap replies in this thread.

Firstly it's your money and a lot of it. If the market determines that prices are currently stagnating or even dropping in some areas, then you sure as hell should be trying to get a reduction.

......<snip>.

Some sellers like the ones on this thread won't like renegotiation, but if the market determines prices are coming down then they'll just have to suck it up.

So presumably you'd be quite happy if in a rising market, sellers suddenly asked last minute for an extra £17k and your position would be the buyers would just have to "suck it up"?

Yeh, I thought not.

indianabones

AnotherJoe wrote: »

So presumably you'd be quite happy if in a rising market, sellers suddenly asked last minute for an extra £17k and your position would be the buyers would just have to "suck it up"?

Yeh, I thought not.

Two things, firstly house prices are already absurdly high. Secondly yes if the seller wants more they can feel free to ask for more. So just as you are saying that you'd tell a buyer to get lost if he wanted a reduction. Then buyer than can also tell the seller to get lost if he asks for more.