Pulling out of buying a house, please help

Zammo

carpetbelly wrote: »

You shouldnt worry about this. I know it sounds selfish but you need to worry about you and are you getting what you want, at a deal is good for you and right for you.

Yes, it's not your problem. You have to act in your own best interests when making a substantial purchase like this. I'm sure the vendor will be.

dannyboycey

frak wrote: »

well i've pulled out, estate agent started getting funny with me and i've had a snotty text of the vendor, saying i have wasted his time and money but that is exacly what he has doen to me, on the whole i feel better. I probably shoudlnt have paid for the boiler certificate but i was getting impatient at the time and naively paid for it to speed things up. Its been the right thing to do i am about £500 down in solicitors fees and stuff but like everyone said it was £500 spent to find out these problems in the end. I've decided to rent for the time being and this is going to make me better off by about £300 a month so in the end i guess its money saving, just got to find somewhere to rent now but that shoudlnt be too hard.

Well done. You can relax and have a good Christmas now! :cool:

D_e_n_i_s_e

houes buying and selling is more stressful than most people think. and its a real shame some buyers and sellers make it more stressful than it need be. i bought a house a couple of months back cost me £120,000 survey bought up 10 things (didnt bother disputing these or using these as ammo to drop price further as they were all petty and i could deal with them myself and in total to fix was less than £1500).

my friend on the other hand went and saw a property put a bid in for £100,000 then surveyed it, survey bought up 4 - 5 points to put right would have cost her £950, she disputed. Owners wanted quick sale sold up to another person who paid an extra £5000 on top of what she was offering plus would sort the work out themselves. he sold the property last week for £145,000 (+£25k Profit).

The point is that many people often argue for niggly bits and pieces that aint worth arguing over. i remember a programme on bbc1 where they were teaching people to buy cars and asking them to argue with dealers to throw freebies like free mats and mudflaps (what the f**k!!!), which you could buy from my local poundland or genuine make ones from ebay for next to nothing. i would ask for more meaty things like a free service, alloys, or a years extended warranty etc.

simirllarly with houses iv been told by a close estate agent friend always INITIALLY offer 10% below asking, this is where you would get any serious price reduction in the initail offer stages. following survey reports most hardly reduce prices or do so by a fraction of an amount.

likewise in a house, if the central heating system was knackered, or there was damp all over the place, or the roof was caving in etc then theres summut worth arguing, but for summut minor and trivial is it really worth losing a house?

HugoSP

I have got some fantastic properties over the years because other buyers were being pickly over a few quid.

One house we bought came to us as a result of a sale that fell through over £250! The vendor just got fed up with the buyer so we were called. The same day we had our offer accepted.

I do think that the OPs position was a little different though - he needed guarantees etc for his mortgage. The vendor couldn't give them.

A relative of ours was in a similar position when he bought a house. The lender wanted to retain about £1k to make sure work was carried out. He took this to the vendors, who like the OPs vendors were builders. They did the work themselves, but couldn't provide sufficint evidence for the buyer to present to the lender, so the only option they had was to lower the price by £1k - which they did.

PJD

frak wrote: »

well i've pulled out, estate agent started getting funny with me and i've had a snotty text of the vendor, saying i have wasted his time and money

Wasted HIS time and money!! So YOU spent all your money and time on this - just for a laugh?

Seems to me is all he had to do was get someone official round to certify the work he had done to satisfy your lender. Have I got that all wrong, as it sounds too simple to me.

If you do like this place though, - you could still go back to him and make an offer as suggested above. 110k maybe? Justify your offer with what you say about the current market and other properties you've seen. If they're up for 10k less - that doesnt include negotiation. Plus the current climate, not to mention the time of year.

He'll then have the option of taking some hard cash and getting on with his life... - or, - having more hassle from more viewings, finding another buyer, and going through this again from scratch.

If there are other properties for 10k less as you say, - this will sink in and maybe he'll realise this is a fair proposition.

Have a good weekend!


edited to add: - he'll know you're not bluffing about pulling out if he doesnt accept your new offer, as you've already demonstrated you're not all mouth. He'll either say no, - or maybe meet you half way (to which you can negotiate further).