Should I tell my buyers to get lost and start again?!

nollag2006

You've agreed a price already, they are unlikely to walk away for the cost of a few small repairs, given the monies they have already expended.

Any time I've sold a house and get a last minute quibble like this, I tell them to stuff it. It always works. They have as much to lose as you

david29dpo

spam. reported

telfordwhite

david29dpo wrote: »

Just bare in mind that your buyers have spent good money buying your house so far, they are unlikely to walk on a whim.

Don't you believe it!

Our previous buyers pulled out on the point of exchange. If they are struggling to afford the house it doesn't bode well.

Conrad

Those buyers exhibit all the hallmarks of your classic wasters. They have thrown thier toys around since the outset and they will find a way to let you down just at the last minute, so better to bite the bullet now.

If they are going to walk away for such petty items, the sort most buyers would expect, then this shows they are irrationale and liable to jump from this to that.

Bin em, test thier metal.

Gwenrose

I'm sorry to say this but I'm pretty sure you are about to face the same experience we have, your buyers can't afford your property, so they will try every thing they can to diddle you down to a rock bottom price.

There is nothing worse than the lose of a property you really would love, but at what cost are you prepared to let these people win.

Our buyers did exactly the same thing all the time, eventualy they withdrew two weeks before exchanging.

Best thing you could do is write to your solicitor saying that there is no more barganing and they buy as seen and you are no longer prepared to discuss a lower figure. Your buyers will shut up and put up, or walk away, I hope I'm wrong but I bet they walk.

Good luck but don't let any one bully you into a corner.

fimonkey

Hmmm there's a definate divide here between those who have sold before, and those who haven't bought before. I can only offer you my own experience as an FTB,
...saw a flat, could see it needed work (but I'm not a builder OR a surveyor), got survey, work needed was MUCH more than expected, attempted to negotiate price, Vendor solicitor said get stuffed, I could see it needed work from the outset (true, but did not appreciate HOW much work), I pulled out,... two weeks later vendor comes back with 'negotiated' price so sale back on. ... Then vendor begins to mess around.. Not answering EA calls, no info on her intended completion date, (even though it was she who wanted completion asap). I suspect vendor was annoyed at having to give in on price reduction but in the end her constant messing about meant I pulled out for once and all. My thinking was that as an FTB I'm rather valuable to the housing market, and plenty more flats out there. In hindsight I'm happy it went the way it did, prices in my area are stagnant, FTB's nervous,... gives me a chance to find the property I REALLY want/save up for better deposit.

How valuable are your buyers to you I supose is the question you need to ask.

miniloopie

A quick update...

We decided that it would be better to negotiate with our buyers rather than lose them and start again, particularly at this time of year and in this market... so we settled on £1800 off the price they paid originally.
I think they feel happy they've got a bargain and we are happy that we are still able to buy the house we want. In the bigger scheme of things that isnt much money when you are buying a house worth £200,000?

I'm hoping they were just anxious FTB's and not looking for an excuse to walk away...

So, I've instructed a survey on the house we want to buy and now I guess we wait and see what happens... we've made it clear to everyone in the chain that it needs to move as quickly as poss and told our buyers the same, I think that's all we can do. Ill keep chasing as the weeks go by... here we go again!!

telfordwhite

Fingers crossed for you.

miniloopie

Another update! I knew it was too good to be true...
Got a phonecall from the EA this morning to say our buyers think they have been 'too hasty' accepting £1800 from us and want £3000 plus a date when we will move out i.e. break the chain so they can move in...

Hmm - we have 2 small kids and dont really want to go into rented if possible... plus we dont have £3000 to give them, particularly since the survey was pretty good - we offered that money as a goodwill payment.

So it looks like its back on the market for us? Anyone want a nice 3 bed Victorian terrace in Cardiff?

irnbru_2

miniloopie wrote: »

So it looks like its back on the market for us?

Tell them you'll let them know on Monday ... finances to juggle etc.

In the meantime, appraise your market - are things selling?

Can you pass it on up the chain?

Is there anyway to make the additional £1200 payable as a cashback (upon expedient completion)?