Seller hikes asking price

Bonniepurple

If someone had tried this on me I would:
Swear
Ask for proof that prices are going to rise due to the stamp duty change
Suddenly realise that only one of you is counted as an FTB (obviously this would mean telling porkies!)
Point out to the estate agent that as the vendor is trying to inflate the price you now have no trust in them and are worried that something else will come up from them so will be looking for a property without this hassle.

Good luck- they are trying it on.

gettingtheresometime

If you offer him a penny piece more he'll be after two.

Tell him where to stick it

hazyjo

I would 100% tell him no. Plenty others would pay it or split it. Tp to you at the end of the day.

Let us know what you do - and what else they try to get out of you further up the line.

HardSpend

This thread angers me.

mclaren32

“So pleased to have heard from you Mr X. We were about to contact you regarding the changes to Council Tax paid on empty properties and decrease our off by £10k due to our concerns about how this would impact house prices.

Having seen your request for an additional for an additional £10k on the previously agreed price I suggest we meet in the middle and proceed at our previously agreed price.”

blueroyals

Bonniepurple wrote: »

If someone had tried this on me I would:
Swear
Ask for proof that prices are going to rise due to the stamp duty change
Suddenly realise that only one of you is counted as an FTB (obviously this would mean telling porkies!)
Point out to the estate agent that as the vendor is trying to inflate the price you now have no trust in them and are worried that something else will come up from them so will be looking for a property without this hassle.

Good luck- they are trying it on.

This. Do exactly this.

Marvel1

If I was dropping out, I wold not proceed any further and ignore all contact with him
- not telling you dropped out.

HardSpend

dissstressed wrote: »

Hi,

My partner and I are FTBs due to exchange on our property in 2 weeks and complete soon after. The stamp duty changes mean that we save 5k on what we would have paid earlier.

Our seller has emailed us saying that he expects prices to rise significantly as a result of the changes (gave me some guff about how the extra money towards a deposit can now be leveraged by buyers 4-5 times to get a mortgage 20-25k bigger, etc) and has said that he wants 10k more.

I'm hopeful that he is open to negotiation but essentially I guess he wants us to fork over the stamp duty saving to him.

We definitely can't afford 10k more (unless we go back to our mortgage broker to see if we can get a bigger mortgage).

I know there's no law against the seller pulling out before exchange, but any tips on how to handle this?

Cheers.

Well like others have said it comes down to how much you want it.

Are you using a high street estate agent and if so did the message come from them or are you liaising direct with seller?

I think the key question is what sort of demand is there for the property, how long was the property on market for? Are you aware of other bids and was your price the asking price or what? Basically trying to establish if he has a fall back position if you threaten to pull out how likely is he going to be to give in.

Does he have another property lined up?

ScorpiondeRooftrouser

!!!! in his fridge.

getmore4less

I was going to suggest silence if thay have just emailed you.

chances are they have not told the EA or their own solicitor yet

Let the solicitors carry on as if nothing has changed till one of them gets told.