Should we give our buyers a deadline

Sammy_21

Update on our house sale, the asbestos survey came back all clear but our buyers now want to offer £10,000 less as we don't have a certificate for when we had the house rewired 12 years ago and maybe some potential roof work. We had the flashing and leading replaced on the chimney in January due to a leak and spent £2,000 on that. We can't afford the house we want to buy with £10,000 less. We have let are solicitors know and are waiting to hear. Our buyers are sofa surfing as they have given up there rented flat.

Grizebeck

The fact you can't afford the next place is irrelevant to the buyer 

lika_86

Sammy_21 said:

Update on our house sale, the asbestos survey came back all clear but our buyers now want to offer £10,000 less as we don't have a certificate for when we had the house rewired 12 years ago and maybe some potential roof work. We had the flashing and leading replaced on the chimney in January due to a leak and spent £2,000 on that. We can't afford the house we want to buy with £10,000 less. We have let are solicitors know and are waiting to hear. Our buyers are sofa surfing as they have given up there rented flat.

It's clear they're now trying anything to offer lower. I'd call their bluff at this stage and give them a deadline. Particularly if they are now out of their place. 

No certificate for a 12 year old wiring job is not a reason to go £10k lower. They don't need to 'remediate' anything with that money and the same for the roof. You fixed the issue. They're chancers. You indulged the asbestos survey.

Tell them that unless they confirm by Friday that they are content to proceed with the original offer then you'll go back on the market the following week. Then push for exchange dates.

Sarah1Mitty2

lika_86 said:

Sammy_21 said:

Update on our house sale, the asbestos survey came back all clear but our buyers now want to offer £10,000 less as we don't have a certificate for when we had the house rewired 12 years ago and maybe some potential roof work. We had the flashing and leading replaced on the chimney in January due to a leak and spent £2,000 on that. We can't afford the house we want to buy with £10,000 less. We have let are solicitors know and are waiting to hear. Our buyers are sofa surfing as they have given up there rented flat.

It's clear they're now trying anything to offer lower. I'd call their bluff at this stage and give them a deadline. Particularly if they are now out of their place. 

No certificate for a 12 year old wiring job is not a reason to go £10k lower. They don't need to 'remediate' anything with that money and the same for the roof. You fixed the issue. They're chancers. You indulged the asbestos survey.

Tell them that unless they confirm by Friday that they are content to proceed with the original offer then you'll go back on the market the following week. Then push for exchange dates.

Going back to the market will likely result in offers of more than 10k lower IMO, really really not worth the drama and stress, just give them their money off and move on is my advice.

lika_86

Sarah1Mitty2 said:

lika_86 said:

Sammy_21 said:

Update on our house sale, the asbestos survey came back all clear but our buyers now want to offer £10,000 less as we don't have a certificate for when we had the house rewired 12 years ago and maybe some potential roof work. We had the flashing and leading replaced on the chimney in January due to a leak and spent £2,000 on that. We can't afford the house we want to buy with £10,000 less. We have let are solicitors know and are waiting to hear. Our buyers are sofa surfing as they have given up there rented flat.

It's clear they're now trying anything to offer lower. I'd call their bluff at this stage and give them a deadline. Particularly if they are now out of their place. 

No certificate for a 12 year old wiring job is not a reason to go £10k lower. They don't need to 'remediate' anything with that money and the same for the roof. You fixed the issue. They're chancers. You indulged the asbestos survey.

Tell them that unless they confirm by Friday that they are content to proceed with the original offer then you'll go back on the market the following week. Then push for exchange dates.

Going back to the market will likely result in offers of more than 10k lower IMO, really really not worth the drama and stress, just give them their money off and move on is my advice.

The point though is not to go back onto market but to get them to stick with their original offer. It's a risk, but if the OP can't afford their onward purchase without that £10k then giving them the money off isn't an option.

Sarah1Mitty2

lika_86 said:

Sarah1Mitty2 said:

lika_86 said:

Sammy_21 said:

Update on our house sale, the asbestos survey came back all clear but our buyers now want to offer £10,000 less as we don't have a certificate for when we had the house rewired 12 years ago and maybe some potential roof work. We had the flashing and leading replaced on the chimney in January due to a leak and spent £2,000 on that. We can't afford the house we want to buy with £10,000 less. We have let are solicitors know and are waiting to hear. Our buyers are sofa surfing as they have given up there rented flat.

It's clear they're now trying anything to offer lower. I'd call their bluff at this stage and give them a deadline. Particularly if they are now out of their place. 

No certificate for a 12 year old wiring job is not a reason to go £10k lower. They don't need to 'remediate' anything with that money and the same for the roof. You fixed the issue. They're chancers. You indulged the asbestos survey.

Tell them that unless they confirm by Friday that they are content to proceed with the original offer then you'll go back on the market the following week. Then push for exchange dates.

Going back to the market will likely result in offers of more than 10k lower IMO, really really not worth the drama and stress, just give them their money off and move on is my advice.

The point though is not to go back onto market but to get them to stick with their original offer. It's a risk, but if the OP can't afford their onward purchase without that £10k then giving them the money off isn't an option.

It is still an option because you could get the 10k from somewhere else, a family loan or overtime maybe? Losing the buyer could mean not moving at all, as someone else said on the thread, whether the seller can afford their next house is absolutely none of the buyers concern, their only concern is to get the best deal for themselves on the current sale.

Tiglet2

If you want to be nice, offer an indemnity policy to cover the electrics.  

You've fixed the roof so why would they want money off for that.  Is your house brand new?  If not, the buyer must accept that there will be ongoing maintenance.

I would not entertain a £10,000 reduction.

Sammy_21

We are a retired couple so borrowing 10k is a no. Our house was built in the 1960's so always upkeep. In the last two years we have had all windows and doors replaced, £8k, new gas boiler installed a year ago 2k and roof repair £2k this year so feel we have spent a lot and the house is pretty much up together. I just feel that after 18 weeks since they put the offer in its a bit mean to be asking for a reduction this late in the day. We have offered an indemnity for the electrics via our solicitor, just waiting to hear what our buyers want to do. Looks like another sleepless night. Hopefully will hear tomorrow.🙄

lika_86

Sammy_21 said:

We are a retired couple so borrowing 10k is a no. Our house was built in the 1960's so always upkeep. In the last two years we have had all windows and doors replaced, £8k, new gas boiler installed a year ago 2k and roof repair £2k this year so feel we have spent a lot and the house is pretty much up together. I just feel that after 18 weeks since they put the offer in its a bit mean to be asking for a reduction this late in the day. We have offered an indemnity for the electrics via our solicitor, just waiting to hear what our buyers want to do. Looks like another sleepless night. Hopefully will hear tomorrow.🙄

If you have an estate agent I'd get them involved, they can normally give people a bit of a talking to and get them to pull themselves together.

Sarah1Mitty2

lika_86 said:

Sammy_21 said:

We are a retired couple so borrowing 10k is a no. Our house was built in the 1960's so always upkeep. In the last two years we have had all windows and doors replaced, £8k, new gas boiler installed a year ago 2k and roof repair £2k this year so feel we have spent a lot and the house is pretty much up together. I just feel that after 18 weeks since they put the offer in its a bit mean to be asking for a reduction this late in the day. We have offered an indemnity for the electrics via our solicitor, just waiting to hear what our buyers want to do. Looks like another sleepless night. Hopefully will hear tomorrow.🙄

If you have an estate agent I'd get them involved, they can normally give people a bit of a talking to and get them to pull themselves together.

Estate agents are out for themselves and out to make money, any "talking to" (which won`t happen because the EA still wants the buyer to maybe buy one of their other properties) that an estate agent dished out would likely just annoy  the buyer further as they see their reasoning as legitimate and could see them walking away, putting the whole sale in jeopardy.