Seller hikes asking price

Niv

He is asking for 10k expecting you to accept 5k increase. He knows you have that 'spare' now. Horrible behaviour by the seller.

JoJo1978

Dissstressed, hold your nerve and don't do anything yet that can't be undone. There's a lot of bluff, bluster and BS attached to house selling/buying and it's hard not to be emotional. But try to detach, it's only then you'll evaluate options clearly.

Remember you've got as much right to change your mind, offer, and terms as the seller right up to the point of exchange. Having walked away from a house earlier this year whose seller used our offer merely to trigger a bidding war I do know how you feel.

mutley74

I am close to buying as a FTB soon. If seller tried this with me I would be asking them to justify the increase. Being a FTB has nothing to do with the seller, just tell them its a take it or leave deal if I was you. I would definitely not pay him £5k more. Tell your solicitor and the EA to make him realize the consequences and give him a deadline to confirm.

NYM

Unless you really, really want this particular property let your vendor know that since the change in the SD it has given you the opportunity to look at other properties that were previously just out of your financial reach.

davholla

Tell no and that if he pulls out you will make sure that any potential buyers know that they cannot trust him.

Katapolt

Please correct me if im wrong but the stamp duty doesnt go to the vendor does it?
Im a FTB about to exchange too, and luckily had just negotiated DOWN on the sale price.

Ask the vendor to justify why he now thinks the house is worth 10k more, and what has happened in the last X amount of time that it has suddenly shot up? remind him if he thinks its worth 10k more then thats what he should have put it up for sale at originally.

ScorpiondeRooftrouser

Katapolt wrote: »

Please correct me if im wrong but the stamp duty doesnt go to the vendor does it?
Im a FTB about to exchange too, and luckily had just negotiated DOWN on the sale price.

Ask the vendor to justify why he now thinks the house is worth 10k more, and what has happened in the last X amount of time that it has suddenly shot up? remind him if he thinks its worth 10k more then thats what he should have put it up for sale at originally.

No, it doesn't go to the vendor. This is simply that somebody has seen money and thinks if there's money, he should have it. An absolutely sickening individual.

There's no justification for it and he knows full well there's no justification for it. It's just an attempt at extortion.

POPPYOSCAR

coley54321 wrote: »

Has anyone considered that the original poster is probably fake -

Account created by an estate agent, or similar, with something to gain by creating fear and panic amongst the FTBs who would be reading this forum?


The account was created yesterday, and ever reply has conveniently been one where they feel they need to pay more money!?


FTBs - Don’t let people scare you. This stamp duty change will make next to no changes in price. In fact, in London - it doesn’t really make any difference at all - so prices will continue their correction.

My thoughts exactly!

billy99

POPPYOSCAR wrote: »

My thoughts exactly!

And suspiciously this thread gets mentioned on House Price Crash forum where members there love to troll this forum ...can't link as I haven't enough posts at the moment.

Apologies to OP if this isn't true....

xsor

Seriously, I don't know about this specific idiot of a developer, but most would not risk losing a sale just for over 5-10k.

It'll depend on how many offers he had for it, how long it's been on the market etc.

But seriously, I don't think he would risk it..

Also, you should name and shame the developer. Unless this forum doesn't allow it, which it should if they are doing it for the good of the members and public.