Awkward buyers

House13

Agree to pay but on the basis that you receive a percentage of any future rental income.

Greymug

House13 said:

Agree to pay but on the basis that you receive a percentage of any future rental income.

Ooh, now we're talking!

AdrianC

abbarry said:

I don’t think this is fair at all but not sure what we’re legally obligated to do.

You aren't "legally obligated" to do anything at all.
They aren't "legally obligated" to continue with the purchase, either.

Everything between those two extremes is a matter of negotiation and coming to a mutually acceptable agreement...

Falafels

Natbag said:

I wouldn't be paying for anything required to meet renting regulations, or even towards it - that is their problem if it's something they need to make a further profit on. You are selling the property as seen, not becoming a landlord yourself.

This ^^^. They are purchasers, not tenants, and you have no duty whatsoever to fulfil landlords' obligations.

You don't say where you're based, what the housing market's like in your area, or how your own purchase (if any) is progressing. However, if it's worth your while remarketing the property, I'd certainly do so. Within my experience, demanding buyers (or, come to that, demanding tenants) tend to stay that way. If you're in one of those areas where houses are selling very quickly then find another purchaser.

letsbetfair

Grumpy_chap said:

They offered you full asking price.  How does that compare with market value for the property?
If they are paying "top end" price but now want a negotiated reduction of £3k or thereabouts, that might still leave you in a better position than returning to market.

As for the thread title "Awkward buyers".  I don't think there is any other type.  There are probably as many "Awkward sellers" also.

How much is the house selling for? If they're paying over the oddd for a £1m house, just drop the price by £3k! If it's a £50k house and the market has risen since they offered, many people would refuse any price drop.
You're not obliged to offer anything, and many people wouldn't. It's not conventional for the seller to cover the costs of getting a house up to spec for renting, and lots of people (including me!) buy and sell properties with old but functional boilers.

barbiedoll

Unless you're absolutely desperate to sell, I'd personally tell them to do one. If they expect you to pay for the work, then they'll probably want you to have it all done for them before you move out. Then as soon as exchange is imminent, they'll start haggling over the price. They sound like they know what they're doing and are hoping to take advantage of you, they're planning on having a tenant in there on the same day that you leave.

Just tell the EA and your solicitor that the house is sold as seen and you will not enter into any further discussions about future works to the house. Give them 7 days to make their minds up and then put it back on the market if they don't commit.

AnotherJoe

OP, how many other viewings and offers did you have?

NameUnavailable

Electrics, unless bang up to date, will always come up on a survey as requiring updating. The buyers presumably looked at the consumer unit when viewing, if they need to upgrade it to make the property rentable then that is their issue. I wouldn't offer any reduction (unless there was something actually dangerous and in need of urgent attention).

The CH boiler is much the same. It's something I would check and factor into my offer if i felt that it was going to need replacing any time soon.

Depending on your own circumstances and likely result of remarketing, I'd offer a goodwill gesture/token amount towards a new boiler or service, say £250.

Crashy_Time

If you are concerned about losing them as buyers they may already have sensed this?

Sunsaru

NameUnavailable said:

Electrics, unless bang up to date, will always come up on a survey as requiring updating. The buyers presumably looked at the consumer unit when viewing, if they need to upgrade it to make the property rentable then that is their issue. I wouldn't offer any reduction (unless there was something actually dangerous and in need of urgent attention).

The CH boiler is much the same. It's something I would check and factor into my offer if i felt that it was going to need replacing any time soon.

Depending on your own circumstances and likely result of remarketing, I'd offer a goodwill gesture/token amount towards a new boiler or service, say £250.

I wouldn't even offer them that!
Unless you have some personal affinity to the buyers that means that you desperately want to sell your house to them, you don't need to offer them a penny. Everything that they have asked you to fund is for their own personal benefit and does not affect you being able to sell your house. If they get stroppy give them a virtual backhander by remarketing the property.
That'll learn them...