Deadline with decreasing offer

parkingadvice1212

Has anyone ever implemented a deadline on the other party like this?
From the 8th of March, every week you don't exchange we knock £1k off the price we will pay for the property.

[Deleted User]

Unless you're a cash buyer, you'll never complete if you do that. You'll be back and forth getting revised mortgage offers every week.

SpiderLegs

I’m sure they have, or have at least tried.
suspect most vendors, on receipt of such a threat, would simply re-market the property than deal with such people.

parkingadvice1212

What about regular deadlines i.e. exchange by X date or we withdraw, are these generally successful

parkingadvice1212

Sick of being messed around exchange date pushed back and back constantly sellers now dont want to take any action until after budget is announced

moneysavinghero

I said exchange by x date or the price drops by £2,000.
They didn't make the date so i saved a few quid.

[Deleted User]

parkingadvice1212 said:

What about regular deadlines i.e. exchange by X date or we withdraw, are these generally successful

As long as you mean it and are happy to withdraw if exchange doesn't happen, then yes, it would definitely be successful.

eve824

Just tell them if you haven't exchanged by X date you will pull out of the purchase.

hazyjo

Honestly, what's the point? It takes as long as it takes. Perhaps if you miss the new stamp duty deadline say you'll drop by X amount, but I stand by what I always say, the main thing to cause grief, rows, stress, pulling hair out, anxiety etc etc is a deadline for the sake of a deadline! Mostly there's not even a real reason.

kirtondm

If you give a deadline be prepared to follow though you will soon find out if they are serious!

lookstraightahead

hazyjo said:

Honestly, what's the point? It takes as long as it takes. Perhaps if you miss the new stamp duty deadline say you'll drop by X amount, but I stand by what I always say, the main thing to cause grief, rows, stress, pulling hair out, anxiety etc etc is a deadline for the sake of a deadline! Mostly there's not even a real reason.

There is if you are renting and waiting. Spending thousands each month waiting for vendors to go on their merry way. Or if you're moving areas, or if your buyer won't wait for you. if there's no deadline (albeit imaginary) you get pushed to the back of the queue while 'professionals' deal with more demanding clients.