Getting weary with buyers and EA.

Margot123

I have posted previously about my buyers having received a £10k discount on the asking price and then wanting another £5k before they'll exchange contracts.

They claim they wanted the additional discount for windows. I have told the EA repeatedly that no further discount will be given and yet today they are asking again!
This time for £3k, providing a quote for windows amounting to less than £2.4k.

I appreciate EAs have to forward all offers but this is ridiculous. My solicitor has told me not to budge as the buyers will see this as a weakness and then they might even ask for more.

Perhaps they think they are beating me down and I'll give in but I'm now more than tempted to tell them to go away. The only thing putting me off doing that is the buyers below them will be adversely affected.

So, would my best course of action be to respond with yet another 'no', or to completely ignore their request?

Comms69

I'd push for exchange and if they don't by day 5, remarket and refuse to sell to them

lincroft1710

Margot123 wrote: »

Perhaps they think they are beating me down and I'll give in but I'm now more than tempted to tell them to go away. The only thing putting me off doing that is the buyers below them will be adversely affected.

What happens to your buyer's buyers if you pull out is not your problem. I would be very tempted to tell your agent to remarket the property.

Gilead

Don't concern yourself with impacting on their buyers, they are doing that by causing difficulties.

In your shoes I would advise the EA that the there will be no more further reductions and if contracts are not exchanged within x days it will be put back on the market.

The only time when I wouldn't go down that route is if the house has not attracted any interest over a reasonable period of time or you are dependent on a quick sale. Then a couple of grand would not be a deal breaker (unless as you say, they may come back looking for more).

Margot123

Comms69 wrote: »

I'd push for exchange and if they don't by day 5, remarket and refuse to sell to them

They aren't in a position to exchange as they don't have the forwarding deposit yet.

The EA is under the impression they are ready to exchange, so some lies are being told by the buyers.

Also, similar properties in the area are sitting on EAs books for 2-3 years.
So, it could hang around a while if the sale is cancelled.

mrschaucer

Just a simple "no" will do. The ball is then back in their court as to whether they pull out and mess their buyers about or continue with the purchase. If you don't reply to them, you are at risk of being labelled the ones holding things up.
See what they do after your reply and act accordingly.

Doozergirl

Everyone needs to be ready to exchange at the same time.

Your buyers never see the deposit from their buyers, so that's an odd thing to say. If their buyers aren't ready to exchange that's a thing, but you'd never phrase it in terms of having received a deposit simply because it happens away from us. Their buyer would only be instructed by their solicitor to send the deposit when everyone (including you) is ready to exchange.

I would do exactly the same as those above. Refuse the request, pointing out that the condition of the windows has always been visible from first viewing. House goes back on the market if serious movement isn't made towards exchange. You can't ignore them as that would simply be seen as waiting for a reply. Don't ever delay in saying 'no' to a buyer.

Margot123

Thanks for the responses.

Looking at the estimate they have sent, there is no mention of the condition of the windows. It's just an estimate for new windows of the same size.
So, I'll be responding by saying just that.

Mutton_Geoff

I wouldn't get involved in any quotes for windows etc. The house is for sale "as is". That is what their survey, inspections, visits, the TA forms and their due diligence is for.


Ask the agent to start remarketing "as you believe the purchasers are time wasters". That should spark some action and it will soon by buying season so once Feb half term is out of the way, new buyers will start looking.

Crashy_Time

With bond market volatility rearing it`s head, and rates set to start rising this year, it doesn`t do to get too cocky with buyers IMO.

need_an_answer

Presumably when the house was put on the market there was some consideration given to the fact that the windows might need replacing.
I assume the house was priced to reflect that.

Am I also right in the belief that this is not the first time your buyers have made demands after the event and were they the ones also redirecting their post to the property?

I would be inclined to reject a movement on price now and if you feel ready even impose a deadline for moving forward to exchange and completion.

presumably the property would be of interest to others and again there are more than one set of buyers out there.
If needs be consider pulling out.
Strong words to these buyers needed!