[Brexit] Post offer renegotiate

lookstraightahead

And that's absolutely your prerogative - there's loads of vendors who do that anyway. For me personally, I'be had buyers try it on, sellers being greedy, vendors still in my property after completion trying to catch their chickens and complete waste of timers. But I would not pay £20000 more than I want to pay for anything. Even a house. But that's just me - it's a risk I would take,

jimbog

lookstraightahead wrote: »

It's a business transaction! It happens both ways true and why should anyone pay more than they feel necessary? The vendor can say no if they want tonaturally they could but the unpalatable nature of gazumping, which riles people, is that they have committed financially to the transaction based on their offer being accepted and now that very fact is being used as leverage to squeeze more money out of the buyer/vendor and not as a result of any new information based on survey results/other changes of circumstances

If s vendor took their house off the market because they didn't want to sell anymore, is that dishonourable too,

No, as no extra money was being demanded to continue the transaction

Crashy_Time

lookstraightahead wrote: »

And that's absolutely your prerogative - there's loads of vendors who do that anyway. For me personally, I'be had buyers try it on, sellers being greedy, vendors still in my property after completion trying to catch their chickens and complete waste of timers. But I would not pay £20000 more than I want to pay for anything. Even a house. But that's just me - it's a risk I would take,

Good advice.

lookstraightahead

jimbog wrote: »

No, as no extra money was being demanded to continue the transaction [/COLOR]

People make all kinds of decisions based on the potential of buying a particular house and go to all kinds of expenses. Then a vendor doesn't move because of the financial position of the market. Loads of people are doing it.

AnotherJoe

But lots of people aren't saying "I've just noticed this week has a Thursday in it so I want £20k off" which is the equivalent of suddenly noticing that there's some uncertainty about Brexit despite it being that way for the last 3 plus years every damn day.
There are many good reasons for trying to lower the price. This is a bad one not because of Brexit per se, but the way he's brought it up as if it's a sudden surprise, because it makes the OP look like someone you'd just walk away from rather than leave yourself open to future bizarre reasoning.

lookstraightahead

It really doesn't matter whether the vendor agrees with the reasoning. Maybe the op needs to decide whether or not they want to pay the extra £20000 or not. With the potential consequences either way.

AnotherJoe

lookstraightahead wrote: »

It really doesn't matter whether the vendor agrees with the reasoning. Maybe the op needs to decide whether or not they want to pay the extra £20000 or not. With the potential consequences either way.

Thats where we will have to disagree then.
If a potential buyer said to me "because of survey results X,Y and Z I am lowering the offer by £20k" I'd negotiate. I might refuse, i might compromise. I wouldnt think the buyer was not to be trusted. I think most vendors would act the same way.

If OTOH the potential buyer said "because of something that everyone's known about for 5 years but I've only just discovered I am lowering the offer by £20k" (or to take you at face value when you said it didn't matter ; "I just feel like lowering my offer by £20k for no particular reason" ) they would instantly become an ex-potential buyer because I would not trust them to put this stunt again. And again. Including at the very last minute. Again, I think most vendors would act the same way.

There has to be for most sellers (and buyers) an element of trust. If the trust is lost because the buyer either seems/can be shown to be non trustworthy or is just a flake, then bye bye, because selling is stressful enough without added drama.

Crashy_Time

AnotherJoe wrote: »

But lots of people aren't saying "I've just noticed this week has a Thursday in it so I want £20k off" which is the equivalent of suddenly noticing that there's some uncertainty about Brexit despite it being that way for the last 3 plus years every damn day.
There are many good reasons for trying to lower the price. This is a bad one not because of Brexit per se, but the way he's brought it up as if it's a sudden surprise, because it makes the OP look like someone you'd just walk away from rather than leave yourself open to future bizarre reasoning.

The uncertainty has ratcheted up very recently though due to the chances of "No Deal" increasing by a lot. This is an inaccurate but emotive term and many people probably are also aware that things in the global economy have shifted towards a more volatile outlook. No one is obliged to over-pay for property, and should change their mind when the economic outlook changes IMO. Sellers should accept that they are part of a market, not a guaranteed pay-out scheme.

AdrianC

Crashy_Time wrote: »

The uncertainty has ratcheted up very recently though due to the chances of "No Deal" increasing by a lot. This is an inaccurate but emotive term

No, it's a very accurate term.

Unless things change, the UK will be leaving the EU on 29/3 with no agreed withdrawal deal in place, since the withdrawal deal agreed between the PM and the EU has been roundly rejected by parliament.

How is calling that "No Deal" inaccurate (except in that it omits "Leave with...")? How, come to that, is it emotive?

PhilE

I personally wouldn't make any further cash investment in any form within the UK right now. For the simple reason that we don't know what exactly is happening, and what will be the outcome.

No harm in waiting to see what form of Brexit we will have and take it from there. Perhaps this is an understandable reason for walking away, and has you remembered as a keen but careful buyer.

But then if you really, really like the house and see yourself living there in years to come... Ultimately you have to way up the pros and cons.