Revenge on gazunderer

onthemend88

The grass is not always greener.

Can you 100% guarantee that the sale won't fall through with the people you are hoping to make an offer on Monday? 

I would be very inclined to bite the bullet and get on with the current buyer. 

kinger101

I think your vendor might well lose patience if you switch to another buyer.  They've already dropped their price £10K, and will know you're now up because of the stamp duty holiday.  They'll hardly be impressed by someone delaying the sale just to have the upper hand when they're the ones who took on the lion's share of the £15K reduction.  At the very least, they'll expect your original offer to be honoured.

iampetesmith

Revenge is all fun & games until it backfires. You could change buyer, but would then have to start the whole process again which would upset the rest of the chain. The buyer does sound like a bit of a plonker, and if these other buyers came along sooner then it would be a no brainer. I just think that it's too late now to start the whole process again, so I'd just get it over and done with.

Madmel

I was always told revenge is a dish best served cold.  In the light of the comments above this one, just stick with this buyer, get contracts exchanged ASAP and move on with your life.

However, if you really wanted to be petty, frozen prawns in curtain poles, kippers under floorboards and the like have been used by other people in the past - get searching.  When I sold my first house, I accepted an offer from a "FTB" whose dad lived up the road.  He & his girlfriend gave me the sob story so I left them my narrow oven and fridge as they were built into my next house.  I exchanged contracts, then went to my new house 250 miles away.  Came back 2 days later to find a To Let sign on my house.  The FTB was starting a buy-to-let business.  The fridge and oven were written into the contract so I couldn't take them but I took almost everything else including lightbulbs, toilet roll holders and the like.  I left the oven & fridge as manky as I could. DH may have put something smelly in the loft...

Doozergirl

Madmel said:

I was always told revenge is a dish best served cold.  In the light of the comments above this one, just stick with this buyer, get contracts exchanged ASAP and move on with your life.

However, if you really wanted to be petty, frozen prawns in curtain poles, kippers under floorboards and the like have been used by other people in the past - get searching.  When I sold my first house, I accepted an offer from a "FTB" whose dad lived up the road.  He & his girlfriend gave me the sob story so I left them my narrow oven and fridge as they were built into my next house.  I exchanged contracts, then went to my new house 250 miles away.  Came back 2 days later to find a To Let sign on my house.  The FTB was starting a buy-to-let business.  The fridge and oven were written into the contract so I couldn't take them but I took almost everything else including lightbulbs, toilet roll holders and the like.  I left the oven & fridge as manky as I could. DH may have put something smelly in the loft...

For the new tenant to deal with? 

This whole thread is weird.  I feel for the OPs vendor.  The vendor is so fixated on feeling hard done by that they can't see that they've done exactly the same to their own vendor.  

If you got a higher offer, OP, would you offer the £10k back to your vendor?  Your buyer is up, you are up, they are down and you have no qualms about screwing them over with the debacle of starting over with another buyer  (which could more easily fall through than this one). 

This has to be a wind up.   

comeandgo

My problem  is I don't view the selling of my home and purchase of another home as business and I do have standards and ethics.  My two are don't ever deal with Purple bricks and first time buyers.  Luckily I've been able to keep to that as a few thousand pounds lost in a transaction fades to nothing after a few years.  OP I would have no problem telling your buyer to do one but you have no idea what any buyer is capable of if their main concern is money.

Jeepers_Creepers

RanP said:

 He is on the verge of exchange...

Do you mean with his own buyer or on your property? If the former, you'd just want to 'land him in it' to teach him a lesson?! If the latter, you'd be nuts to go anywhere else at this stage.

Since things seem to now be nearing the end of the process, grit your teeth, hold your nose and proceed with the guy. You have your 'forever' home lined up - don't blow it on something that might give you a short-term glow (which will quickly disappear as you get on with your life) but that could easy scupper your chances of proceeding with your own purchase.

There is no harm, I don't think, in the EA letting your buyer know (if needed) that there has been more interest in your house, so he'd better get along with the exchange pretty sharpish with no delays or thoughts of further gazundering. 

Overall, you have done well due to the stamp duty holiday, so just count yer lucky whatsits. 

On the other hand, if the chain hasn't progressed all that far and this new buyer is genuinely keen and won't hold up the process any more than current, then there is no real reason not to go with them - it's quite reasonable to go for a higher offer when the other person has negotiated you down - that's the risk anyone who tries a gazunder takes. 

Crashy_Time

Falafels said:

Think of the house you're going to move to, think of your future, think of the fact that you're 10K better off than you would have been. The fact that he's 23K better off will have no effect on you - unless you let it. The one I feel sorry for here is your vendor, who really seems to be taking it on the chin.

And... if your buyer is as much of a calculating chancer as he seems, chances are he'll be found floating face down in a river at some point in the future. Again, not your concern.

Really? Just because he wanted some value when buying a house? OP be careful that your greed over a few thousand pounds and lust for revenge doesn`t catch you out and you end up losing both offers.

Crashy_Time

Doozergirl said:

Madmel said:

I was always told revenge is a dish best served cold.  In the light of the comments above this one, just stick with this buyer, get contracts exchanged ASAP and move on with your life.

However, if you really wanted to be petty, frozen prawns in curtain poles, kippers under floorboards and the like have been used by other people in the past - get searching.  When I sold my first house, I accepted an offer from a "FTB" whose dad lived up the road.  He & his girlfriend gave me the sob story so I left them my narrow oven and fridge as they were built into my next house.  I exchanged contracts, then went to my new house 250 miles away.  Came back 2 days later to find a To Let sign on my house.  The FTB was starting a buy-to-let business.  The fridge and oven were written into the contract so I couldn't take them but I took almost everything else including lightbulbs, toilet roll holders and the like.  I left the oven & fridge as manky as I could. DH may have put something smelly in the loft...

For the new tenant to deal with? 

This whole thread is weird.  I feel for the OPs vendor.  The vendor is so fixated on feeling hard done by that they can't see that they've done exactly the same to their own vendor.  

If you got a higher offer, OP, would you offer the £10k back to your vendor?  Your buyer is up, you are up, they are down and you have no qualms about screwing them over with the debacle of starting over with another buyer  (which could more easily fall through than this one). 

This has to be a wind up.   

Yes it has to be a wind up, but it is drawing out some interesting comments from the dark places of the property owning mind, hopefully going forward  lot`s more greedy sellers will be meeting reality head on.

getmore4less

Shrewd negotiator got you to drop £15k.

if you really thought they were a chancer you would have held your ground.