Should we Gazunder?

marioandluigi

Peoples thoughts on gazunder seem to range from 'sure, try it" to "you're evil incarnate".

Just some background. A few months back we offered the asking price on a property. Two days later we found a cash buyer has came forward and offered the same. We decided to stretch ourselfves to 5k more (I had reservations in all honesty as I thought the buyer was happy with the asking price, they accepted it at first).

We expected the house to be completed before Christmas and have been messed about until now. Essentially I want that 5k gone, we are happy to pay the asking price. The cash buyer would of likely walked away by now anyway.

FYI first time buyer, couple, no kids, 50k in the bank - hardly desperate.

Thoughts?

Lioness_Twinkletoes

Pointless asking on here; I'm not sure what you're hoping to achieve. My opinion is that is a nasty move done by unpleasant people. You offered what you considered the property was worth. I suspect you're hoping that now you are close to completion the vendor will be too invested to tell you to do one. Makes you pretty vile in my book.

If you tried this on with me I'd tell you to Foxtrot Oscar and immediately re-market the house.

marioandluigi

Homes are a deal, people really need to leave emotion at the door

Lioness_Twinkletoes

marioandluigi wrote: »

Homes are a deal, people really need to leave emotion at the door

Or...people need to try and screw someone over as much as possible and claim it to be reasonable.

You asked; I told you. Not sure what you expected, to be honest.

Thrugelmir

marioandluigi wrote: »

Homes are a deal, people really need to leave emotion at the door

Most people do. Much better time of the year to sell a property. I'd have no hesitation in remarketing the property. Given that 2 potential buyers were willing to offer asking price before.

We expected the house to be completed before Christmas

As FTBs doesn't appear that you have enough teeshirts from previous house moves to quantify this statement.

AnotherJoe

marioandluigi wrote: »

Thoughts?

OP you seem only to have considered outcome ;
(a) which is that you may or may not get the £5k off, eg no downside for you, and not options ;
(b) which is Foxtrot Oscar and lose the house
(c) vendor accepts then with a day to go, gazumps you £6k which likely leads to same outcome as
(d) vendor says yes, process continues, you spend money, at the last minute vendor pulls out.

If I was the vendor, I'd do one of b or d. Probably d

jimbog

marioandluigi wrote: »

FYI first time buyer, couple, no kids, 50k in the bank - hardly desperate.

Really? That's a big assumption you are (conveniently) making

People who have tried gazundering and had it totally backfire on them are always reticent about coming back on here to give details

hazyjo

Shouldn't have offered more in the first place. I would also remarket.

shortcrust

I would also put it back on the market in a heartbeat. Who would want to continue with a transaction with someone who's tried to screw you over?:(

LittleMax

No - you liked the house enough to offer over the asing price. You weren't prepared to walk away then. Are you really prepared to walk away now you've invested money? If I was the seller that's what I would weigh up and say no!

MysteryMe

If the vendor tells you to go forth and multiply then you can take off from the £5000 you think you will be saving all the costs you will have incurred.

I don't really think the money at stake is enough to cut your nose off to spite your face but it is up to you.