Last Minute Buyer Issues

Levs01

Even though it's purple bricks do you not have a sales progressor? I'm buying a place that's being sold through Tepilo and I have a contact there should I need him. I do liaise with the seller directly also but I have both options, as does the vendor.

Surrey_EA

Hoploz wrote: »

If you can put a middleman in between you and the buyer you can avoid confrontation - the EA can do his JOB and try to reason with all parties to keep the sale together. THAT is what you pay an estate agent for. Like you said, they've done virtually nothing up to this point!

The easy bit of my job as an EA is to find a buyer and agree price terms, the hard bit is getting from that point to completion.

pixiepeep

I've emailed our EA now with what's going on - he was great up until the offer was accepted but then disappeared, so i'm hoping this email stating that we'd put it back on the market from Thursday might shake him into action

AdrianC

pixiepeep wrote: »

He wants to come over today to "discuss" the issues with the property. As far as I'm aware, the price we accepted was fair considering any work that needed to be done

Keep an open mind. Ask to see what the surveyor said about the value of the property - they'll have taken any issues into consideration.

If it agrees with the offer, then that's all you need to point to.
If it downvalues the property, then you need to decide what to do.

I don't really know what to say to him?! I'm in the mind to stand my ground and say no, the offer you made is for the house in its current condition, you saw the property 4 times and took far too long to arrange a survey. If you want the house, it's at the price we negotiated.

Does that seem wrong?!

No, it seems perfectly sensible. Call his bluff. Say "Look, we're not moving on price. Unless you exchange by the end of the week, then the property's going back on the market."

hazyjo

If you meet with him and if he tries to knock you down, just say I'm really sorry but we'll have to remarket because I don't have another penny in the pot.


I don't move with thousands in the bank (unlike most) and it clears me out when I move. If someone wanted to even drop me £2k, it would have to be a case of no and back on the market it goes...


Even if that's not the case with you, he's not to know that. You just need to get it straight in your head and force yourself to believe it before you meet with him.


He may try to get you to try the top of the chain for a reduction, but with a new build (which is what I think you're buying), you've got no chance so tell him that, or say it will affect your mortgage LTV and 'computer says no'.


Jx

pixiepeep

We don't have a property at all now - we were trying to buy a repossession but got outbid just before we were ready to exchange (grrrr). We're moving in with family so we're in a better position to get a property.

Thing is, we can take a hit of a grand or two but don't want to! And we shouldn't have to either, considering we're making a move at a cost to us in order for him to be in, which is nothing to do with us.

And to be honest, we lost the repo because he dragged his heels getting everything sorted, despite being the one in a rush.

harrys_dad

If you don't want to take the hit don't take it. You have been given lots of excellent advice here. The key issue is do you have the strength to follow it.

jimbog

If, ultimately, he does come round then hear him out and read the report. If he asks for a reduction do not agree to anything on the spot or get into any sort of dialogue but say you would like to think it over that you will text him/email him in the morning with your response/ultimatum. This will 'take the heat out' of the situation

hazyjo

pixiepeep wrote: »

We don't have a property at all now - we were trying to buy a repossession but got outbid just before we were ready to exchange (grrrr). We're moving in with family so we're in a better position to get a property.

Thing is, we can take a hit of a grand or two but don't want to! And we shouldn't have to either, considering we're making a move at a cost to us in order for him to be in, which is nothing to do with us.

And to be honest, we lost the repo because he dragged his heels getting everything sorted, despite being the one in a rush.

Then he's lost all powers of forcing you into dropping the price. You are in no rush so I would definitely call his bluff!


That's what I'm saying - don't take a grand or two hit. No need. Tell him there's no money in the pot. End of. No need to elaborate. Just keep repeating the same thing if he isn't taking it in.


I definitely wouldn't do it alone. I actually quite like the negotiation bit, but I had a very persistent viewer once who really shook me up. Was offering stupid amounts to my face and I laughed and said no, but OMG he was so persistent and it made my legs go to jelly as he was in MY house and it made me feel almost violated. I think I was in tears after. Hard to explain really as I'm a tough cookie usually when it comes to property, but he was unbelievable. Got all these property details out going 'look lady, this one's up for £X, and here's another at £X' - I'm sure at least one was a flat, and they were all in crappy areas/streets not even near to my house. I kept explaining but he just didn't listen/ignored everything I said.


I told the EA I never ever wanted to deal with him again - he did get in touch with them again and I said I don't care if he offers twice the asking price, I will not deal with that man. His wife was there too. She kept quiet.


Jx

DRP

^as above.

If you agree to meet him, then you have your line ("I can't afford to move for less"), just stick with it.

You could just ask about the valuation, and if it is the same as the accepted price, then it is probably not even getting bogged down by allowing him to discuss the rest of the survey.