Buyer wants me to drop the price to account for windows

faerielight

I'm waiting to exchange but my buyer wants me to drop the price to account for 2k new windows. What do I do? I dropped the price off their asking price by 8K to account for it being a victorian property. 

MeteredOut

There's no right answer. You could refuse and hopefully call their bluff and they pay the agreed price, or they could pull out. Or you accept and get £2K less.

What has your estate agent advised?

How much other interest did you have in the property, if you refuse and they pull out and it needs to go back on the market (remember they'll likely lose out financially too so that's not an easy decision for them) do you think it would sell easy. Are you part of chain and do you have an onward house that you're buying and might lose if your has to go back on the market?

Is £2K 5% of the property value of 0.5% of the property value?

anselld

Say no.  The existing windows were clearly visible during viewings.

Lorian

If they pull out now they will are very likely to have sunk costs

faerielight

I have signed the contract for my house purchase.. . i had a lot of interest in it, but I don't want to lose the house im buying. 

Stubod

Compromise...meet them in the middle??? Up to you really...

faerielight

The issue is, I just dont have the money. The most i can offer is £500 or i wont have enough for removals. 

SarahB16

faerielight said:

I'm waiting to exchange but my buyer wants me to drop the price to account for 2k new windows. What do I do? I dropped the price off their asking price by 8K to account for it being a victorian property. 

Re the dropping of the price for the windows I'd say no.  I think they are trying it on with you and they did this when  they asked you to drop the asking price by £8k due to it being a Victorian property.  

Your home was valued accordingly (including it being a Victorian property which would have huge appeal to a lot of people).  

They are simply chipping away trying to reduce the price but for no justifiable reason.  The fact you had lots of interested parties puts you in a strong position.

Olinda99

have you just signed the contract for your purchase or exchanged as well

Tiglet2

Say no, the windows would have been visible when they viewed the property and/or their condition mentioned in any survey report they commissioned.  You could ask to see an extract from their survey through your solicitor to see exactly what the surveyor said.  Unless the property is virtually new, there will always be maintenance to do.

faerielight

thanks guys.. they offered 8k under, they didnt say why,  but i accepted as my reasoning was it was victorian. 
I have signed both my sellers and buyer contracts, it's just my buyer that hasnt signed yet so we havent exchanged yet.