solictor advised not to reduce offer-would you?

csgohan4

the question do you feel lucky? Will the vendor agree or tell you to foxtrot oscar

ElefantEd

greatcrested said:

Either buy the house or walk away. Stop prevaricating!

I think you mean "stop procrastinating!" (putting things off). Prevaricating means lying!

Comms69

peppapig14 said:

few weeks away from exchange. fortunate to be putting down 25% deposit , with enough funds left for a new heating system required in the property. 
we are now concerned about the current economic crisis, and asked solictor if concerns about partner potentially losing his job and wanting to keep some of our deposit back for a safety net would potentially result in a price deduction from the Sellers. She advised this is not a sufficient reason to ask for a reduction? 
looking for any guidance, experiences of doing this?

Are you paying your solicitor for their moral advice? Just curious.

You can reduce the offer because you feel like it. no other reason is required.

The seller ofcourse is free to accept, reject, negotiate; or simply refuse to do business with you

Chetnick

Pull out and when they call you back offer them 15% less..

Chetnick

I pulled out of new build 10 mins later £40000 off and I never asked....yeha

greatcrested

ElefantEd said:

greatcrested said:

Either buy the house or walk away. Stop prevaricating!

I think you mean "stop procrastinating!" (putting things off). Prevaricating means lying!

Had to re-read the posts to decide which applied, but... I think you're right. Op probably not lying!

Though a quick duckduckgo finds:

Usage Note: The traditional meaning of prevaricate is "to speak or write evasively." In recent years, a second sense has developed, meaning "to behave in an indecisive manner; delay or procrastinate,"

csgohan4

Chetnick said:

I pulled out of new build 10 mins later £40000 off and I never asked....yeha

Baring in mind New builds are overpriced from the start, OP is not buying  a new build

Crashy_Time

comeandgo said:

So far away from exchange I'd tell you to take a hike and put it back on the market. 

What would you gain by doing that in this economic climate?

Crashy_Time

Linton said:

If you are worried about losing your job and not being able to afford the house or there is a major fall in house prices I dont see the odd few £K you might be able to squeeze out of the vendor making much difference.  In my view once you have made a deal you should keep to it unless overriding circumstances prevent you, and if that happens you should simply drop out.  It would then be up to the vendor to suggest a lower price if they were desperate to sell to you.

Suppose you ask for a reduction and the vendor says "no",  what will you do?  Only make or imply threats if you intend to carry them out.  If I was the vendor in making my decision I would take into account the risk that you would try the same trick again later in the process.

I was the vendor in a similar situation immediately after the BREXIT vote. The buyer asked for a reduction, I said and did nothing and a week later they came back, apologised, and reinstated the original offer.

Not really relevant, many people believed that there would be a reversal of the Brexit vote, and that things would continue much as they were before right up until the point that B.J got his mandate, however we are now really in uncharted waters and Brexit is just a dot on the horizon, the two periods can`t be compared IMO.

Davesnave

ElefantEd said:

greatcrested said:

Either buy the house or walk away. Stop prevaricating!

I think you mean "stop procrastinating!" (putting things off). Prevaricating means lying!

  It could be argued that planned gazundering close to the point of exchange is a form of deception.