House selling dilemma

Navigator22

I know what I am about to post will cause a lot of criticism but I am in a dilemma. Nearly 12 months ago I put my house on the market. We have a buyer  who offered 60 K below the asking price. I rejected the offer and he came back a couple of times and the final offer was 30K below the asking price, which I unfortunately accepted after pressure from the agent. I should have stuck out for an offer nearer the asking price. A friend in the next road got the full asking price with the the same agent but when they pressured her, she told them to jog off until she achieved the price she wanted.

Our onward purchase  has taken longer than expected due to legal problems with the property, which are still not resolved. I was hoping that the buyer would lose interest and withdraw, enabling me to relist the property with another agent. but unfortunately he has not. He approached us recently with a hard luck story saying how much he has spent and he has a new baby etc, wanting a further reduction, He has a good job as a train driver, so does his wife.So they are not on the bread line. We are both pensioners and probably only receive 20% of their combined wage.

What I can not understand is why the buyer has not withdrawn from the sale after all it has been nearly 12 months and we  are still not able to proceed 

Prior to this offer we had another buyer but the buyer just dissapeared and no one could get hold of him, not even his financial advisor. The agent kept us hanging on for weeks saying he was still there in the end I had to  reject him and relist the property.

My dilemma is this. Houses are selling fast in my area . One with an asking price £50k. above our listing  They  all have the same size and number rooms etc. Do I stay with the present buyer for moral reasons and lose £30k or do I pull the plug and relist the property and this time stick out for the asking price or near it.
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david29dpo

Your house, your call, but dont be bullyed by the agent, they are only interested in there fee, nothing more.

You say similar size and number of rooms but nothing about the state of yours compared to the other houses?

MusicLover1357

You definitely don't owe them anything... Don't let "moral reasons" trick you into suffering losses, and don't fall for the tricks of the agents either. If you believe your house can fetch a high price just like other properties in your area, I'd strongly recommend relisting the property.

Emmia

I'd pull out yourself and relist the property - if your buyers want it they'll need to pay the price you want. Also consider that the money you'd lose out on may come in handy further down the line. Don't feel guilty.

Depending on the contract you have, I'd also consider a new agent.

housebuyer143

You clearly don't want to sell it at this price. The buyer isn't leaving because he knows he has a bargain. I would tell him that you do not wish to proceed at that price and will be relisting it. 
Morals are great and all, but not at the expense of £30k. If you feel like you can get more, and you want to risk a new buyer then do it. 

Navigator22

david29dpo said:

Your house, your call, but dont be bullyed by the agent, they are only interested in there fee, nothing more.

You say similar size and number of rooms but nothing about the state of yours compared to the other houses?

My house is in good repair with a new roof a few years back, double glazing etc.The other houses that recently sold are similar. We have a garage and one did not  one was mid terrace and ours is end. I will admit that the one listed at £50k above our original asking price has been recently renovated but the same layout.

david29dpo

Navigator22 said:

david29dpo said:

Your house, your call, but dont be bullyed by the agent, they are only interested in there fee, nothing more.

You say similar size and number of rooms but nothing about the state of yours compared to the other houses?

My house is in good repair with a new roof a few years back, double glazing etc.The other houses that recently sold are similar. We have a garage and one did not  one was mid terrace and ours is end. I will admit that the one listed at £50k above our original asking price has been recently renovated but the same layout.

Then this "may" have something to do with the price difference.

Navigator22

Emmia said:

I'd pull out yourself and relist the property - if your buyers want it they'll need to pay the price you want. Also consider that the money you'd lose out on may come in handy further down the line. Don't feel guilty.

Depending on the contract you have, I'd also consider a new agent.

The contract expired months ago. I will definitely consider a different agent.

Flugelhorn

I would stop the whole process and start again with a new agent- I hate sob stories with people waving their babies at you.
Have a suspicion they will try to cut the price again just as you are about to sign contracts when it is very hard to refuse

FlorayG

House buying and selling is more of a war than a moral thing. As they were not able to proceed quickly, tell them you are worried about their financial ability after they sob-storied you and thank you and goodbye

bobster2

FlorayG said:

House buying and selling is more of a war than a moral thing. As they were not able to proceed quickly, tell them you are worried about their financial ability after they sob-storied you and thank you and goodbye

It doesn't sound like the delay was down to these buyers. OP said that their onward purchase has been delayed. So the buyers have been waiting for OP to get their onward purchase sorted.