Buyer trying to gazunder! Help!

NJamesN

I have told the EA to reject the lower offer. Let's call his bluff and see. I think he will come back with a revised offer.

Calpol4life

If I were in your shoes and in no need to actually sell....

I would ask your agent (he works for you) to remarket at 5k more than your agreed price.....

And then refuse any further offer from this investor - as a direct consequence of him being cheeky.

You can dress this up professionally not wanting to waste any further time in case he tries to gazunder again.

duggan1

Calpol4life wrote: »

If I were in your shoes and in no need to actually sell....

I would ask your agent (he works for you) to remarket at 5k more than your agreed price.....

And then refuse any further offer from this investor - as a direct consequence of him being cheeky.

You can dress this up professionally not wanting to waste any further time in case he tries to gazunder again.

I like the cut of your jib.

hazyjo

Would also refuse. The EA prob just wants their commission and doesn't want to start again. They also sometimes have investors on their books and don't want to lose them. Or sometimes it's a friend. I sold once to an investor who the EAs knew well and had sold other houses to him. I did sell it too cheap, but the investor was fine and only dropped his offer a bit after the survey. I would have made it clear from the beginning if selling to an investor that I'd heard they often gazunder and if they tried it with me, it'd be straight back on the market.


I see Boris' stamp duty pledge is the new 'Brexit'. There's always something that makes people think they can reduce offers lol.

Arthritic_Toe

Your buyer, apart from having the morals of a sewer rat, has nothing to lose by doing this and possibly has 20K to gain. If I were you I'd decline the offer. Almost certainly, he will proceed at the original price.

Andysandy

The OP has already declined it as per their last post.

Arthritic_Toe wrote: »

Your buyer, apart from having the morals of a sewer rat, has nothing to lose by doing this and possibly has 20K to gain. If I were you I'd decline the offer. Almost certainly, he will proceed at the original price.

NJamesN wrote: »

I have told the EA to reject the lower offer. Let's call his bluff and see. I think he will come back with a revised offer.

Bacon_Sandwich

Don't blink, don't budge, don't be bullied by this so-called investor. Don't validate their despicable behaviour by caving. Give in, and as well as doing yourself out of 20k, you'd be playing a part in allowing the proliferation of this kind of behaviour, and helping pave the way for many other people to be held to ransom by these vile rat people.

Crashy_Time

chucknorris wrote: »

As if sellers, wouldn't simply add the stamp duty to the asking price. Although I do think that it is a good idea because the additional cost of the stamp duty could be mortgaged.

The way people used to add 20% for DIY and a holiday to the mortgage? Reality is that houses are too expensive, adding anything to the price is severely limiting your pool of buyers now. In the OP`s case my advice would be to take the hit now before it gets even harder to get a buyer and the next offer is even lower.

Crashy_Time

connors07 wrote: »

Tell him the price is £325k. Regardless of Brexit there isn't enough homes in the UK for the demand. As homeowners are we suddenly going to put our homes on the market at 50% of the previous value? No.

As for the EA. He wants you to sell and to sell with him. No idea about if there are any backhanders in the background but no EA has any loyalty to anyone other than themselves.

There are though, and people know there are, house prices have been held up by low interest rates allowing brainwashed people to hang on for "what it is worth" and schemes such as HTB which bail out developers as brainwashed people take on too much debt, not "too much demand". Demand can remain static as prices move up or down depending on demand for/availability of credit. Do you think credit is going to be more or less available as Brexit happens and the EU run into more economic trouble and the global trade/currency wars intensify, and how do you think this credit will be priced - higher or lower?

strongboes

What's all this nonsense about morals, the buyer can re evaluate the price they are willing to pay at anytime up until it's too late to do so, whatever the reason given, it's irrelevant. It's a business transaction, the OP doesn't live there, they are in no chain, they have seemingly done very well out of their investment over the years and want to sell quickly for the same reasons given by the "investor".

If the OP thinks they can replace the buyer then decline, if not then accept, the property is only worth what a buyer is willing to pay, and factors which will influence that do include recent brexit developments etc