Sneaky Vendors

gycraig_2

You offered 50k more on a house that you need to do 40k of work on ?

So glad I live in the north

Petite_Anglaise

Sounds like the vendor is not being very honest and just greedy for more £

Similar thing round here in SE London. Up to you whether you want to match the new offer, depends on how much you like the place.

I would be inclined to walk away and tell the vendor to get lost.

However, we are FTBs, have deposit and mortgage AIP- would just need to give notice to our landlord.

So much stuff round here is overpriced and not particularly nice- I'd have no problem just walking away from sneaky/greedy vendors.

sparky130a

Killmark wrote: »

House needs about £40,000 spending on it to bring it up to our standards. It was actually our third choice and the other 2 are still languishing on the market.

Hey?!

Why are you purchasing your third choice property when you could potentially purchase your first or second choice???!

GDB2222

Is this thread a wind-up possibly?

cloo

Killmark wrote: »

Bit late as we were at the exchanging contract stage.

.

Even so, they can change their mind for any reason they like pre exchange. We had some vendors like this (although their EAs didn't even try to hide the fact they were still showing other people round and trying to get more money for it) and it's just one of the pain points of purchasing in England, where I assume you are.

agrinnall

getmore4less wrote: »

Not a problem if they have a bigger deposit.

Or if they use a different bank that arrives at a higher valuation.

DaftyDuck

One point; the agent still selling (without an offer accepted) may not wish to withdraw from marketing. Seller may still be in their contractual period, agent may get nothing if they don't get a sale themselves. Sure, seller might refuse viewings, but agent may insist property still marketed to try & recoup something.

The text of the OP alludes to something like this might be happening. It's not always sneaky sellers/evil buyers and thieving agents...

Hoploz

:wall:So now it's you looking at offering on other properties while you're in the process of buying this one

Killmark

Surrey_EA wrote: »

Why would you offer £50,000 more than similar properties are available for?

It rather depends where you are in SE, some areas are more active than others. The SE is quite a large chunk of the country, with huge variations.

Sounds like this may not be your dream house, perhaps the other person bidding has done you a favour!

Partly because it met most of our requirements and partly because we're not planning on moving for next 20-25 years. In comparison to the others it has development potential. The others have been cutting asking prices as the market is pretty slow. Generally when competitively priced they won't be available for very long.

Killmark

sparky130a wrote: »

Hey?!

Why are you purchasing your third choice property when you could potentially purchase your first or second choice???!

Timing was an issue as its due to work relocation. The other vendors hadn't been prepared to negotiate.