Buyers lowering offer just before exchange!

zagubov

ajak81 wrote: »

Yes but the point is that ONE assumption is these people are having the money and are just trying to pay less which would mean this isn't the average person who just can't afford the required asking price if you see what I mean.

Ordinarily I'd agree with you but not with these people because it's my belief they're just using underhand tactics just to save money not because they haven't actually got the money

Good luck- maybe you've got more access to their motivations and assets than I do. I just have to be honest and say I've more often overestimated my financial worth than underestimated it.

And I've always found that underestimating of my assets take less time to correct than overestimates.

reg091

I am thinking that the "fault" is with the fact that a mortgage valuation surveyor puts a specific price. None of the estate agents do that, they give a range which is surely the sensible way to go.

How can a surveyor possibly arrive at a specific price, and how long is that price likely to be accurate for - a day, a month?

I have another strategy: say to them "prices have increased since your valuation in April, I want an EXTRA four grand now"!

Davesnave

reg091 wrote: »

I have another strategy: say to them "prices have increased since your valuation in April, I want an EXTRA four grand now"!

But you aren't really going to do that, are you?


It's make your mind up time. Plenty of advice here, most of it advising you to take a tough line.


Easy enough to dish out advice, of course, and everyone thinks what's worked for them will work for you. I've had playing hardball go both ways, hence my earlier caution.

wesleyad

reg091 wrote: »

I am thinking that the "fault" is with the fact that a mortgage valuation surveyor puts a specific price. None of the estate agents do that, they give a range which is surely the sensible way to go.

How can a surveyor possibly arrive at a specific price, and how long is that price likely to be accurate for - a day, a month?

I agree, but it seems the OP had the house up for 385k and the buyer offered at 389k. The surveyor has probably missed the offer and just looked at the house advert (they do this a lot) and agreed with the advert price of 385k. They would probably also agree with 389k if they were asked. As you say it's too close to get funny about, no one can be that accurate.

It's possible the buyer missed this fact until solicitor sent the required funds itinerary at which point they crapped it as they realised they didn't have enough cash. Just playing devils advocate, not everyone is out for a quick buck.

reg091

House was up for £400K. We set ourselves a target of £390K and after two weeks figured £389K was close enough.

reg091

Davesnave wrote: »

But you aren't really going to do that, are you?/QUOTE]

No, I'm not that would be just as immoral as what they are trying to pull.

Although Halifax house price report published this morning shows prices up 1.8% to June...

wesleyad

reg091 wrote: »

House was up for £400K. We set ourselves a target of £390K and after two weeks figured £389K was close enough.

Oh ignore my post then, not sure where I got it was up for 385. Seems very pedantic of the surveyor then.

steampowered

I would say no in the first instance.

If that means the sellers can no longer afford the property because they can't make up the shortfall, I'm sure they will tell you.

DonPatch

I would ask the agent what took them so long to tell you as surely any issues with the survey or valuation should have been mentioned in April.

It might give you a clearer idea of what you're dealing with

jaycee123999

Can you do this? ie put your house back on the market before exchange - won't you lose the house you want to buy?