Gazundering hmm...

Crashy_Time

Linton wrote: »

When you made the offer you thought the price was a good one and knew that there would be extra costs. Under those circumstances I think it would be wrong to renege on the deal. If someone tried that on me the flat would be on the market the next day - what confidence would I have that you wouldnt try the same trick again?

So if you still want the flat go ahead at the agreed price. If not pull out now.

Would you have another buyer the next day though?

penguingirl

If your vendor said no would you put an offer in on the second flat? If you think it is the better purchase I'd go with it.

movilogo

House price is now falling albeit much slower than I would have liked

No harm in trying.

getmore4less

is it priced lower to get interest or bidding competition

how much interest in the first one.

Are you sure they are like for like and you can get an offer accepted before your current vendor gets the hump and ditches you.


before you try anything sneaky these sellers may know each other.

jimbog

You can try it and see what happens. But do come back to tell us how you get on - as many contributors who have said they wanted to backtrack before have seemed reluctant to come back to say what happened

John00100

Asking price is meaningless. Some estate agents inflate their prices to get the sale, then after two weeks the buyer is forced to lower them because nobody is interested.
I'm still laughing at a local house that was out at the same price as the house next door, except that the other one had one extra bedroom, and it was really nice, while this one needs a lot of work.
There is an add on for Firefox that lets you see the ad history on Rightmove, and the first price often is not the same asking price when the property is finally sold.
What you really need to check are actual sale prices, Rightmove lets you do that too, through Land Registry records.

Mossfarr

Just as we were about to exchange contracts on the sale my Grandmothers house another house a few doors away went on the market for a slightly lower price (and Grans house was in much worse condition). We held our breath in case our buyers spotted it and came back with a lower offer. We felt we would have had no choice other than accept a lower offer or lose the sale. Fortunately for us they didn't spot it and we completed at the agreed price.
In your position I would just go back to your vendors and tell them about the other flat and tell them you are considering reducing your offer. See what reaction you get and take it from there - you could perhaps meet in the middle.

Hoploz

View the other flat and if it's genuinely a better buy then offer. If its accepted then pull out of first, if not then you could suggest reducing on the original one.

Davesnave

Knowing that you could have had the other flat will always annoy you if you don't give it a look and, perhaps, go for it.

Refurbishing is something I've done rather a lot of, so I'd certainly avoid it given half a chance.

I'd pull out before offering on the other one if I liked it more. This one would be dead in the water if I liked the other, and I'd rather have neither than accept second best.

That's just the way I am. Others might see this as illogical, but I'm the one who has to live with me!

ekumi00

Thank you for all the replies. As I expected a mixed bag of responses.