Advice on possible gazundering

MysteryMe

Taking the OPs posts at face vaue

The OP already accepted an offer on the property originally

The market in their area is bouyant and prices have risen since then

The survey was 6 weeks ago

They wait until last minute before exchange to try and renegotiate a lower price

They go on holiday without informing anyone

They have not signed any paperwork because they are now also messing around with a cooker which has already been addressed in previous paperwork.

And there are still people on this thread making excuses for the "buyers"

Seriously?

pinklady21

What I find interesting is how the responses vary to posts like this depending on whether it is the buyer or the seller asking.

If this was the buyer, who said - "I am having second thoughts about this purchase, the survey has come back with some potentially expensive repairs" - then the advice on here might be "try and renegotiate".

If the seller comes on saying "my buyer is asking to renegotiate", there is a chorus of "tell 'em to get lost!"

It tickles me somewhat - there are 2 sides to every story and of course no one size fits all. Folks just have to look at their own circumstances, weigh up the options and decide.

Personally, as a buyer, I would only try and renegotiate if something unexpected came up in a survey that was going to cost more to fix than I had budgetted for. I would expect the seller to be reasonable in the circumstances, particularly if the house had been on the market a long time and will otherwise be hard to shift.
If the seller refuses, then you either have to decide to walk away or continue to buy something for more than you think it is worth.

As a seller, if someone asked to renegotiate with me at a late stage of a sale after we had agreed a price, then I would tell them to go forth and multiply in the nicest possible form of legalese! There is of course always the risk that they actually do so.
Horses for Courses (ooh just count the cliches in this post, must be Friday afternoon!)

Smodlet

By your own admission, your responses would vary accordingly so it seems most agree with you when it comes to safeguarding one's own interests. That is surely to be expected.

Thrugelmir

pinklady21 wrote: »

If this was the buyer, who said - "I am having second thoughts about this purchase, the survey has come back with some potentially expensive repairs" - then the advice on here might be "try and renegotiate".

Lender's surveyor saw no reason to disagree with the agreed price though.

pinklady21

In which case, then the seller is probably right to tell 'em to get lost!

Worrier378948

Thank you so much for your opinions......I have asked the EA to remarket....they have threatened I will lose my sale (they are selling both of our houses) and tried to convince me all will be well next week as apparently they are happy with the roof after my polite no price reduction which is kind of them lol....BUT ....they need to know cooker dimensions before considering exchange.....OMG....I!!!8217;m now prepared to take the risk of losing the sale ....but the attitude of EA was awful probably annoyed may lose fee at this late stage....if anything it might scare buyers into action next week! Now I!!!8217;m thinking morally I don!!!8217;t want to sell to them as what else might they do before exchanging? plus with the house prices going up ...who knows

Hoploz

Just be careful not to bite your nose off to spite your face ...
Remember the bigger picture. You might hate the buyer now but when you've moved in a couple of weeks it'll soon get forgotten.

kuratowski

I think by now OP has had as many viewpoints as they need.

Just wanted to say post #37 makes me think there is maybe a case for multi-agency sales after all! If one EA is too lazy to remarket the others would probably be all to happy to have another go...

Crashy_Time

Alfrescodave wrote: »

Very understandable to read all the strong comments about telling you to remarket but in my area in South Oxfordshire houses prices have stalled and even signs of falling. So make sure that your market is still buoyant before re-advertising.

Most areas have stalled, transactions are down, so be wary of chasing buyers away with unrealistic pricing.