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Buyer renegotiating at late stage
Comments
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Crashy_Time wrote: »But if this is the red hot London market why are other buyers not tripping over themselves to bid more for the property?
Probably because it's SSTC.0 -
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Crashy_Time wrote: »Why would the buyer risk losing it then?
It's a punt to see if they can get it cheaper. We both know it's common as muck.0 -
It's a punt to see if they can get it cheaper. We both know it's common as muck.
Nothing to do with a faltering property bubble then?
http://www.telegraph.co.uk/business/2016/10/19/foxtons-property-sales-tumble-by-a-third-as-london-house-buying/0 -
Crashy_Time wrote: »Nothing to do with a faltering property bubble then?
http://www.telegraph.co.uk/business/2016/10/19/foxtons-property-sales-tumble-by-a-third-as-london-house-buying/
Probably not, no.0 -
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?
Because doing that pushes back his potential payout, as the buyer has to start the process afresh, whereas with the OP they're about to exchange contracts, so a couple of months closer to collecting that commission than a new sale.
I'm sure the EA will have a more certain but lower fee as a backup, but they'd probably push pretty hard and take the risk on a higher price sooner.0 -
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ReadingTim wrote: »Because doing that pushes back his potential payout, as the buyer has to start the process afresh, whereas with the OP they're about to exchange contracts, so a couple of months closer to collecting that commission than a new sale.
I'm sure the EA will have a more certain but lower fee as a backup, but they'd probably push pretty hard and take the risk on a higher price sooner.
The EA doesn`t care if the OP gets 20k or so less for their property though do they?0 -
Just by way of an update we put our flat back on the market yesterday but the buyer has now come back with an increased offer still £6k short of original. We are standing firm....0
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http://www.home.co.uk/guides/asking_prices_report.htm?location=aberdeen&lastyear=1
In some areas it will be easier for buyers to stick to their guns.0
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