Buyer renegotiate

nubbins

Crashy_Time wrote: »

Considering the general economic climate and sentiment I would take the 4k drop and let them get on with it TBH. Why put your life on hold for 4k?

The wise one speaks again, thanks for that nugget. :T

steampowered

Many buyers have a survey done simply to try and find something so that they have an excuse to knock down the price.

I agree with the approach of offering £500 and telling them to take it or leave it. Although if it looks like the buyer might pull-out and you are desperate to sell you might have to compromise.

ReadingTim

Crashy_Time wrote: »

Considering the general economic climate and sentiment I would take the 4k drop and let them get on with it TBH. Why put your life on hold for 4k?

Considering the general economic climate and sentiment I would tell them to shove their 4k drop and tell them get on with it and the price previously agreed TBH. Why put their life on hold for 4k?

Crashy_Time

ReadingTim wrote: »

Considering the general economic climate and sentiment I would tell them to shove their 4k drop and tell them get on with it and the price previously agreed TBH. Why put their life on hold for 4k?

Their life won`t be on hold, they won`t be the one`s keeping the house tidy for viewers who don`t show up for the next few years.

2010bubba

Thanks all for your replies......we rejected his new offer today and now awaiting his response unfortunately we are not in position to just let this chain collapse .....my elderly and poorly mum lives with us and we desperately need this bungalow to make her life easier. Think we made mistake at first viewing by making him aware of our urgency to move and he's now playing on this. Anyway thanks for all your input see what tomorrow brings :-(

Crashy_Time

2010bubba wrote: »

Thanks all for your replies......we rejected his new offer today and now awaiting his response unfortunately we are not in position to just let this chain collapse .....my elderly and poorly mum lives with us and we desperately need this bungalow to make her life easier. Think we made mistake at first viewing by making him aware of our urgency to move and he's now playing on this. Anyway thanks for all your input see what tomorrow brings :-(

If you can`t let the chain collapse, and need to move, why not take the less stressful route and keep him happy with his little 4k reduction?

weejangus

Crashy_Time wrote: »

If you can`t let the chain collapse, and need to move, why not take the less stressful route and keep him happy with his little 4k reduction?

I think Crashy Time may be the OP's potential buyer! :think:

OP, I think you've made the right decision to decline the reduced price. There is maybe still some negotiating to be done here but as others have said, this should be around the £500 mark.

All the best with the sale.

J

Crashy_Time

So you get stressed haggling with this buyer, he ends up walking away, some more "bad" economic news hits the headlines and there are even less buyers around, so you have to keep on trying to sell a house that was virtually sold? What is the point, unless you have lots of buyers to choose from?

Lokolo

Crashy_Time wrote: »

So you get stressed haggling with this buyer, he ends up walking away, some more "bad" economic news hits the headlines and there are even less buyers around, so you have to keep on trying to sell a house that was virtually sold? What is the point, unless you have lots of buyers to choose from?

What the hell? Just making up fantasy things that could happen.

The OPs buyer could also pull out, they put it back on market and they get a flood of new viewings and they get more offers. What's the point in speculating?

And also maybe the OP can't afford the £4k drop.

weejangus

Crashy_Time wrote: »

So you get stressed haggling with this buyer, he ends up walking away, some more "bad" economic news hits the headlines and there are even less buyers around, so you have to keep on trying to sell a house that was virtually sold? What is the point, unless you have lots of buyers to choose from?

You've painted a picture that may or may not actually happen. I could equally state that, potentially, due to very "good" economic news hitting the headline, the OP is inundated with offers to purchase at a significantly higher price! Doesn't matter, as it stands right now, that's just speculation.

What if the buyer had asked for a reduction of £10k? Or £20k? Would the OP still be better to just accept the lower price?

The facts as we know them have confirmed that the work required as per electrical report should cost somewhere in the region of £400 / £500. However the buyer has requested to reduce the purchase price by £4k. This is not in proportion to the work needing done. The OP would have to draw a line somewhere and decide on a value that he / she is happy to reduce the price by, a reduction that truly reflects the work to be done.