Buyers asking to re-open price negotiations

societys_child

hutman wrote: »

. . .
2017 will herald a property crash.

:rotfl:
You're Britt in disguise and I claim my £5

Niv

societys_child wrote: »

:rotfl:
You're Britt in disguise and I claim my £5

Nah, its crashy

glasgowdan

Op, what's your question? I'm not sure what you're posting for?

Many areas are a total buyer's market. Is yours? How long has it been for sale? The price is open to negotiations at any point up to completion I believe. Feel free to suggest a higher price to them. I'd certainly tell them to shove it.

Alias_Omega

societys_child wrote: »

They've already knocked 7.5k off and given another 1k in freebies, where does it end?

Dont see any other buyers knocking on the sellers door offering them asking price, or they would not be here posting about the £2500 of "maintenance" things should have been performed.

I bet this is stuff like a Boiler Service or Gas Safety Check. Could even be that a few window seals have gone and its to replace stuff like that. The seller hasnt actually put up whats was "snagged" but its probably stuff which they have knowingly left for the "buyer to sort".

So, £7500 under asking price, but is actually the valuation price... sounds like the house is overpriced...or a lazy valuation to satisfy the mortgage company..

Bluebirdman_of_Alcathays

Alias_Omega wrote: »

£2500 and the house is gone.... shouldn't take long for a Solicitor to make that back...

Unless they're Magic Circle it will take some time!

Crashy_Time

http://www.telegraph.co.uk/business/2017/01/02/fears-massive-global-property-price-crash-amid-dangerous-conditions/

theartfullodger

The vendor should inform the buyer, through the usual channels (ie solicitors) that they thought the price had been agreed and they didn't appreciate it was now negotiable:

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- and that as the price is now flexible, it's just gone up £2.5k.

Fight fire with fire....

DaftyDuck

bruich76 wrote: »

I will start by saying that I am a property solicitor have dealt with 1000s of conveyancing transactions. So, you probably have several times the experience of all the forum members combined....However, the buyers of our house have recently had a survey carried out (which valued the house at the purchase price).


It, however, pointed out a few maintenance points - things that should be looked at when they move in for example getting the boiler serviced, etc.I've always ensured the boiler has been recently serviced (within 3 months) when selling a property... it helps smooth things along...


They are trying to negotiate £2,500.00 off the asking price!!
Jolly good. Sensible them! I'd do the same, in all likelihood...


I don't know what planet they are on Chances are it's the third rock from the sun, same as most of you lot...but it has really annoyed us... First rule of house selling for a newbie... um experienced solicitor... IT'S NEVER PERSONAL!!! It's just a business deal, and if you have never asked for a discount on furniture, a reduction on a car price, or a freebie on holiday, you are on the wrong site...the only time this ever happens in practice is when the valuation has come back showing the property as undervalued.REALLY? I think I pretty much always get something off the price, following a survey, indeed I can't think of a time I haven't got more than the survey price... oh, and I have never shown the vendor the valuation ....


We have said no, Sensible, under the circumstances however, they are saying that they will pull out if its not reduced Also sensible under the circumstances...it's called negotiation. I know Sure? ...Certain? They may be at their price limit, and pull out, they may love the house and pay full whack.. we can meet them in the middle at £1,250.00,Are you Derren Brown? however, I don't think that we should have to Why - are you special, in some way? Six feet fourteen and covered in tattoos and scars, or old and frail? and they are just trying it on. Quelle surprise No, you don't have to but, surely, in your long experience, many, if not most, have negotiated to the end point.

It's just a negotiation strategy. Any estate agent would recognise it as such, and most solicitors I have used have held my paw whilst I do it. A survey reveals faults, and a seller must decide whether to acquiesce to a buyer's demands, and the buyer must decide if (s)he wants the house enough to splash the cash.

Buyer's or Seller's market is pretty irrelevant. It's one house, one buyer and one seller at the moment. Just one round of poker. Sure, take the market into consideration if you are going to tell them to take a running jump if they don't pay their original offer.

But, like others, I don't really see what the question is, what the problem is, or why you are asking a bunch of amateurs when you are a perfessional. I have a massive double-digit experience in buying and selling... (well, I am into double digits, at least), but I'll be eleven hundred and seventy four before I see the thousands of transactions you have imagined.. um.. experienced...

DaftyDuck

Crashy_Time wrote: »

http://www.telegraph.co.uk/business/2017/01/02/fears-massive-global-property-price-crash-amid-dangerous-conditions/

Ahhh, Clive,
,
I do miss you when you are away...

nimbo

I'd probably be tempted to call their bluff. But I can be a contrary cow - very. If I'm cutting off my nose to spite myself. And it's easy for me to say never having been in the situation.

Has the house been on the market for an age? Is your house purchase contingent on the sale? You need to do a cost benefit analysis for you. What is the impact of dropping the price - vs what is the impact of possibly loosing the sale? I'd imagine they have a bit to loose out on by this point - but they could be serious.