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Buyer renegotiating at late stage

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Comments

  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    ReadingTim wrote: »
    Whilst that might be true "soon", it doesn't help Johnny Salesman hit his monthly target now, ie this month, so should provide sufficient motivation.

    Besides, it's generally agreed that the sum total of EA knowledge on all matters property buying, renting or selling comfortably fits onto the head of a pin in 12 point type.


    But if the EA has more properties on the books why would he pee off the potential buyer as well, why not just direct them to a seller with more realistic expectations?
  • iammumtoone
    iammumtoone Posts: 6,377 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper I've been Money Tipped!
    Crashy_Time wrote: »
    But if the EA has more properties on the books why would he pee off the potential buyer as well, why not just direct them to a seller with more realistic expectations?

    what is more realistic than to expect to get what was offered when there have been no survey issues and this request for (a large) reduction has been made at the very last minute.

    Are you the OPs buyer?
  • morwok
    morwok Posts: 73 Forumite
    Part of the Furniture Combo Breaker
    Crashy_Time wrote: »
    https://www.eveningexpress.co.uk/fp/news/local/latest-aberdeen-house-price-drop-the-worst-in-uk/


    House isn`t in Aberdeen by any chance is it?

    No London which certainly isn't seeing falls like that.
    teddysmum wrote: »
    As you love your flat, even if sticking to your price means the buyers drop out, you have somewhere pleasant to live until something else turns up (be it a new buyer or a different new home with a less difficult or no chain).

    Thanks yes this is why i think we are in a good position to not cave to anything.

    Thanks again all. NO news today yet will update tomorrow but will make the agent work for this. Can potentially ask them to start dropping commission as I think they are marketing 3 of the 5 in the chain.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    iammumtoone wrote: »
    what is more realistic than to expect to get what was offered when there have been no survey issues and this request for (a large) reduction has been made at the very last minute.

    Are you the OPs buyer?[/QUOTE]


    In this bubble? You have got to be kidding....:rotfl:
  • morwok
    morwok Posts: 73 Forumite
    Part of the Furniture Combo Breaker
    iammumtoone wrote: »
    what is more realistic than to expect to get what was offered when there have been no survey issues and this request for (a large) reduction has been made at the very last minute.

    Are you the OPs buyer?

    Agreed I think they got a good deal form us as we wanted a quick sale. I think I have done enough research and the price they got is realistic. Time will tell I guess.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    morwok wrote: »
    No London which certainly isn't seeing falls like that.



    Thanks yes this is why i think we are in a good position to not cave to anything.

    Thanks again all. NO news today yet will update tomorrow but will make the agent work for this. Can potentially ask them to start dropping commission as I think they are marketing 3 of the 5 in the chain.


    Yes, but like many in London many in Aberdeen thought the wealth effect would last forever, up there it was oil that everything else relied on, down there it is financials and over-seas investment plus general sentiment, all wide open to volatility at the moment?
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    morwok wrote: »
    Agreed I think they got a good deal form us as we wanted a quick sale. I think I have done enough research and the price they got is realistic. Time will tell I guess.


    But housing in London is in a massive bubble, they have probably just realised how crazy it all is with the help of all the negative sentiment that is around? My take is that a buyer starting to wriggle is a red flag that sentiment, and the property bubble, have peaked, is it worth taking a small loss to move on?
  • Pandilex
    Pandilex Posts: 410 Forumite
    If it helps the solicitor I used had a deal whereby if the sale fell through you didn't have to pay anything provided you used them for the next sale/purchase (so basically you only end up paying once!). Maybe yours has something similar so you don't need to fret about the costs!
  • Grenage
    Grenage Posts: 3,222 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I would agree with most of the others; and tell them to either go with the original price, or call it a day. If you start giving in to arbitrary amounts now, there's a reasonable chance they'll do it again.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Grenage wrote: »
    I would agree with most of the others; and tell them to either go with the original price, or call it a day. If you start giving in to arbitrary amounts now, there's a reasonable chance they'll do it again.


    But if this is the red hot London market why are other buyers not tripping over themselves to bid more for the property?
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