GAZUNDERED! Bullied by buyer

efes_shareholder

I had a house I let in a prime university location however i had to sell
I put it on the market and within a week had an offer at full asking price

A few days before we were due to exchange contracts I recieved a Mickey mouse quote through my solicitor and the estate agent for some works to the ground floor extension flat roof - THERE WAS NOTHING WRONG with the roof and the quote looked so unproffessional it may aswell have been jotted on the back of a fag pack

The terminology was all wrong too

I sensed that these people were trying it on , and leaving it until the last minute and took offence and took their Urine extract personally - I refused point blank to offer any reduction and my solicitor asked them to return the papers ( I also attached a pic of my middle finger to the estate agent and solicitor , not very proffesional but I found it amusing and asked them to send it on to the buyer)

A day later the buyer solicitor returned and said they were happy to proceed with the sale at the agreed price - I wasnt in a panic and I knew they would have incurred lots of mortgage and surveyor costs along side legal fees , so I told them the price had just increased by 5k

I never heard from them again , but I would hope it would make them think twice before trying to take someones pants down

The house was relisted and sold straight away to a cash buyer - this person then began to drag their feet as I wanted completion , however with the past experience the estate agent got the exchange and the completion on the dates I wanted - I would like to think he told the buyer not to mess me around as he would loose the house !!

The difference was I had time on my side and the house was earning me money so i wasnt desperate to off load it ( and it did feel good !! )

Smodlet

It would seem a one-off, absolutely first, last and only reduction of £2k in exchange for a quick, firm exchange date might be the way to go. This would need to be in writing from your solicitor and specify that no further negotiations will be entered into under any circumstances. Any further essays by the buyer will be met with outright rejection and the property will be relisted.

Your call but yourself and your husband would benefit from showing a united front to this buyer, I think. Good luck.

FactualGnome

Yes, as time is going on today, the more im agreeing with my husband and feeling like - just give the £2k drop, whatever she wants to do with that money, let her have it. (Gritted teeth whilst im saying that though as shes well off and bragged about that fact when she was here - whilst I know that we are going to struggle to bridge that £2k gap)

My point for trying to fight against it was the principle of her doing this - not being willing to let us pay for it/not willing to negotiate, these things I cant understand etc. If it was about securing a new roof why not let us pay for it.

Greed does have a bit to do with it, im being honest - when your faced with people bidding to win your house, your elated when you've been offered more than asking price esp when your 6 weeks into the process and the survey only flags up a flat roof you thought you had a quote for. It doesnt mean it doesnt suck when the figure you thought youd gotten starts going 'down'.

efess hareload - That is a fantastic response that I could only dream about doing right now!

Smodlet

You received two offers appreciably over your asking price (assuming they were genuine and this woman did not involve a friend for a fake bidding war with the intention of then driving the price down as far as she could; call me cynical) Most people would be ecstatic in your circumstances and I am afraid you do come across as greedy.

How do you know a word that comes out of this woman's mouth is true? More to the point, beyond your need to know she can afford to buy your house, why do you care?

The more you think of this as what it is, a business transaction, the easier it will be to let go of the emotion. So she asked for a price reduction; that is merely good business, not a personal insult. I feel sorry for your husband in this situation. You are making it much more difficult than it needs to be, from what you say.

FactualGnome

Knew it wouldnt be long until the use of a forum ends up getting nasty. Thanks everyone for the advice debate over, after Smodlets 'I feel sorry for your husband in this situation' comment. No one need know where your 'sympathy' lies thanks.
Im a human with emotions - not a robot.

anselld

FactualGnome wrote: »

I know that we are going to struggle to bridge that £2k gap

How is that? Presumably the £2k drop would still leave the offer above the original asking price.

franklee

FactualGnome wrote: »

My point for trying to fight against it was the principle of her doing this - not being willing to let us pay for it/not willing to negotiate, these things I cant understand etc. If it was about securing a new roof why not let us pay for it.

It wasn't about the roof. The roof is simply an excuse to get money off. The buyer has offered over asking price having got caught up in a bidding war and now regrets going that high.

Forget principle that's just wasted emotional energy. Forget how wealthy the buyer is that's just wasted emotional energy.

All you have to work out your price and stick to it.

lookstraightahead

First world problems

jimbog

lookstraightahead wrote: »

First world problems

Not surprising since the UK is in the first world

parkrunner

warehouse wrote: »

So you cave in and basically give them £2K off the asking price. What comes next? Let me guess. Another big drop just before exchange knowing you're highly likely to cave again.

Walk away now or you'll seriously regret it.

Err no, the offer was way over the asking price.