Should I increase the price of my property...

lookstraightahead

[Deleted User] said:

genericn17 said:

It's attitudes like this that make the English house buying process so horrible. You went with a buyer who was willing to wait - with it being entirely forseeable that house prices would rise in the meantime - and are now trying to take advantage of that to get more money than you agreed. Thoroughly dishonorable. If you don't want to give them the additional items, just say no.

The buyers have at the last minute reopened the negotiations asking for free items. The height of stupidity and they should count themselves lucky if not subject to a counter offer. 

Maybe they're not bothered about it anymore, whilst waiting perhaps they've changed their minds anyway.

[Deleted User]

lookstraightahead said:

[Deleted User] said:

genericn17 said:

It's attitudes like this that make the English house buying process so horrible. You went with a buyer who was willing to wait - with it being entirely forseeable that house prices would rise in the meantime - and are now trying to take advantage of that to get more money than you agreed. Thoroughly dishonorable. If you don't want to give them the additional items, just say no.

The buyers have at the last minute reopened the negotiations asking for free items. The height of stupidity and they should count themselves lucky if not subject to a counter offer. 

Maybe they're not bothered about it anymore, whilst waiting perhaps they've changed their minds anyway.

Possibly. Easy decision to remarket then at the real value.

lookstraightahead

[Deleted User] said:

lookstraightahead said:

[Deleted User] said:

genericn17 said:

It's attitudes like this that make the English house buying process so horrible. You went with a buyer who was willing to wait - with it being entirely forseeable that house prices would rise in the meantime - and are now trying to take advantage of that to get more money than you agreed. Thoroughly dishonorable. If you don't want to give them the additional items, just say no.

The buyers have at the last minute reopened the negotiations asking for free items. The height of stupidity and they should count themselves lucky if not subject to a counter offer. 

Maybe they're not bothered about it anymore, whilst waiting perhaps they've changed their minds anyway.

Possibly. Easy decision to remarket then at the real value.

If it is the real value - I doubt the lender (if sold to someone needing a mortgage) would change the valuation so readily and take that risk, irrespective of finding an 'eager' buyer. And then the vendor will probably lose the onward sale, and if they do manage to get an extra 50k, they'll have to spend it again anyway, all over a fridge freezer and a bbq.

It does make me feel they're getting cold feet though. Maybe the vendor has keep them waiting too long. Might be best to just move on all round.

babyblade41

Maybe the OP is buying something which maybe close to their budget & are trying to think of ways to  alleviate the expense.

It's a "what if"situation.

I think if the buyer were to come on here & post something like " we put an offer on a house we like back in November but had to wait for seller to find their onward purchase. Now they have, they want to ask for 50k more due to the time it's taken them to find somewhere, they think their house has gone up by this amount in value since listing.we were rather hoping they would leave some outdoor appliances as a gesture of goodwill but they have refused.  What shall we do "? 


I can tell you what the advice would be  & OP, it won't be in your favour.

Ramouth

I think you would be crazy to jeopardise your onward purchase!  Your buyers have been incredibly patient and have allowed you to take you time to find somewhere.  They have effectively saved you thousands in rent.  I’d probably let them have the outdoor kitchen let alone trying to put the price up.  A bird in the hand…

Gycraig

This is mental, so you chose a buyer because they where willing to work to your time scale, now following YOUR time scale prices have gone up and you want to increase your price ?. 

Frankly I think I’d get quite abusive if you did that to me. They have paid a fair price for when you sold it and now the whole market has moved, talk about having both bites of the cherry. 

“I have got a long time scale for my next house so do you mind agreeing to purchase it now and then in 6 months when I’m ready to move if prices have increased I’ll try to charge you market price when all your alternatives have gone up as well” not sure many would have agreed to an honest discussion about your plans. 

meeemee

Totally agree with Ramouth, can’t have it both ways but if you do decide to remarket I hope you offer to pay any wasted fees the poor buyers have incurred as an apology for wasting their time and the chance they had of being settled into a different home by now.

HampshireH

Whilst your buyers have now asked for extras (which you are entitled to say no to and they are entitled to withdraw from the purchase)

I feel it is wrong of you to jeopardise the sale by putting the price up, especially when they have been extremely decent in waiting for you 

Whilst you say it's quick in terms of house buying - maybe if the ball was actually rolling but as you were still looking perhaps not

You day you could have sold it again but they could have bought elsewhere by now and been settled in their new home.

My purchase took 6 weeks start to finish. Was incredibly fast no onward chain. Was great. 

Your buyer could have benefited from cheaper prices then elsewhere and now you would be forcing them to purchase at a higher price which they may not be able to afford and could potentially (we don't know the facts) leave them homeless.

Really harsh in my opinion

[Deleted User]

Gycraig said:

This is mental, so you chose a buyer because they where willing to work to your time scale, now following YOUR time scale prices have gone up and you want to increase your price ?. 

Frankly I think I’d get quite abusive if you did that to me. They have paid a fair price for when you sold it and now the whole market has moved, talk about having both bites of the cherry. 

“I have got a long time scale for my next house so do you mind agreeing to purchase it now and then in 6 months when I’m ready to move if prices have increased I’ll try to charge you market price when all your alternatives have gone up as well” not sure many would have agreed to an honest discussion about your plans. 

Disagree. Buyer has made a last minute attempt to get items for free causing everyone to review their interests. No mention of this until the last minute, the buyer had 6 months if they wanted other items. Only  they dont reakise that they are grossly mistaken as to their negotiating power. Vendor is adaptable and willing to pull the plug rather than bending over. Prices have gone up and if it was me, my willingness to stick to the previously agreed deal would quickly evaporate with the buyers trying to change it themselves. With the buyers being yhe ones starting to mess about, I find criticsm of OP to be a strange take. 

Poker analogy. Check your hand, keep the pot small. Raise and prepare to be re-raised.

Swipe

Refuse to include the extras. If they pull out, re-market at the higher price. Job done.