Last minute demand from buyer

bouicca21

I'd be making sure exchange had actually taken place before the report. I have a sneaky feeling it won't happen on Wednesday, and bully dad will use the report to get a last minute reduction in the price.

And yes, this is not an over protective father, it's an out and out bully.

lichfield22

Exchange is meant to happen on Tuesday and the electrician is booked for Wednesday. If exchange doesn't happen on Tuesday, there's no way the electrician is accessing the property on Wednesday - particularly because we will lose our onward purchase if exchange on both properties doesn't happen on Tuesday!

jimbog

lichfield22 wrote: »

Exchange is meant to happen on Tuesday and the electrician is booked for Wednesday. If exchange doesn't happen on Tuesday, there's no way the electrician is accessing the property on Wednesday - particularly because we will lose our onward purchase if exchange on both properties doesn't happen on Tuesday!

Indeed, you can say that if exchange doesn't happen on Tuesday then there is no point of anyone spending £90 on any survey as the chain would have collapsed.

savingfortomorrow

The father is a bully, plain and simple, he is one manipulative so and so. I pity the daughter, for her lack of independence.

However, be prepared to have to choose the nuclear option. She wants to live in the area so much- be prepared to say that you will have to take the property off the market. They are trying potentially, if this is an act, to force you to reduce the price dramatically. I would be very surprised if they exchange- there is some weird dynamic with this pair. There will be a demand for a serious reduction due to some fault, real or fake. You need to be prepared that demands may not realistic or even fixable.

Initially, was there a lot of demand for the house? You may need to re-start the process if they delay or refuse to exchange. I truly hope that the father is full of hot air, wanting to huff and puff but for a man of his age should back off and let his daughter make her own mistakes regarding surveys.

If you live in a small town with a friendly local gossip I would tell everyone about this pair of chancers. I would tell every neighbour in the street about this situation. If this sale falls through I can guarantee a few whispers to a gossip will scupper future purchases in her desired location.

Argghhh

if they dont exchange as planned i would ring the EA up to inform them to remarket the property and up the price by 10% and inform the buyer its back on the market
Then if they change mind and agree to exchange - say ok but no electrical report or 10% increase to cover admin charges you have incurred
they will be desperate at this point if they have come back

anotheruser

bouicca21 wrote: »

My inclination if you have agreed to share it would be to leave a photocopy for the buyer to find at completion. Keep the original partly just in case there is an attempt at comeback but also to emphasise that you paid for it and it's yours.

Why?

The report is of no use to the seller when they've sold the house. All that does is 1) Encourage the OP to keep a selection of documents that they have no use for 2) Give the buyer photocopies (who would want that?) 3) Show you as being a bit horrible.

Our house seller is probably going to end up horrible because the estate agent messed us about, so we appeared to mess them about. Plus, we insisted on gas/electric reports being done before exchange - at the sellers cost. They originally said no, but then changed their mind when we suggested it might take another few months to complete (so we could save money to have the reports done).

Give the seller a scan/photocopy and leave the original with the Estate Agent when they come to pick up the keys.
It might be "your" report but it's useless after completion.

Argghhh wrote: »

if they dont exchange as planned i would ring the EA up to inform them to remarket the property and up the price by 10% and inform the buyer its back on the market
Then if they change mind and agree to exchange - say ok but no electrical report or 10% increase to cover admin charges you have incurred...

10% admin fee? Are you kidding?
It's comments like this that fuel the belief that house sellers are greedy people who are simply after as much money they can get.

People can't seem to see it's the father that is meddling. The daughter, who is actually buying the house was in tears and really does want to buy the house. Give her a break.
It's fairly simple - no exchange, no sale, your chain collapses and you start again.

marksoton

If they don't exchange on time walk. They sound like a nightmare to deal with.

AdrianC

anotheruser wrote: »

Why?

The report is of no use to the seller when they've sold the house. All that does is 1) Encourage the OP to keep a selection of documents that they have no use for 2) Give the buyer photocopies (who would want that?) 3) Show you as being a bit horrible.

Indeed. The OP is not the electrician's customer, so is not the owner of the electrical report, with the comeback that may or may not infer. The OP is merely paying the bill on the behalf of the commissioning customer, the father.

lichfield22

Having not sold before, only bought, I'm a bit clueless about what would happen in terms of money if I decided to remarket the house should the buyer fail to exchange on Tuesday. I'm assuming I would have to pay the estate agent because they'd found me a buyer but I called it off rather than her pulling out?

I did have a lot of interest initially - I had six viewings and five offers at asking price in the first week. This lady was one of the five and was first back with a mortgage in principle (plus kept telling the EA how much she loved the house so I thought she was a safe bet!). I doubt I would get another 10% for the house and particularly not from this buyer - we have the same mortgage advisor who tipped me off that the reason for not getting a survey was that the deposit had used all her savings and she has no more to spend.

jimbog

lichfield22 wrote: »

Having not sold before, only bought, I'm a bit clueless about what would happen in terms of money if I decided to remarket the house should the buyer fail to exchange on Tuesday. I'm assuming I would have to pay the estate agent because they'd found me a buyer but I called it off rather than her pulling out?

Not necessarily, but read your contract. Usually estate agents are owed their commission on exchange