Aggressive buyer Exchange issue

steelsncrete

Please advise. My first sale fell through 2 months ago, was for the full asking price and no post survey quibbles. Then down the chain collapsed. New buyer immediately offered a big whack under asking. EA pointed out unreasonable in the circumstances and so raised it a bit. This 2nd survey said roof old but not leaking. Roofer says needs new roof. Buyer would not negotiate (no concept that it’s not reasonable for a buyer to expect the vendor to provide full costs of a 15+ year asset that they benefit from for years to come). Would not bend, no concessions at all. Personally, I’ve never felt the need to hit the other person in negotiations so hard they are left with nothing, but each to his own!

Have decided to move on with my life, (buyer will get their karma), I’ll pay-up. I even offered to pay the fella the VAT! Move to rented; found a nice place. The only stipulation I have made in the whole agreement, is to enshrine a moving date in firm contractual wording so I’m not paying for two properties.

My buyer has gone extremely quiet since. Possibly is so used to getting own way that can’t tolerate one stipulation. It’s been a grim process. This Sale I’m tens of thousands of pounds down; it’s six months later. Definitely playing a tiny violin for myself, but got to the stage that I need a break from it all. Start again with renewed, vigour, perhaps do the roof. My sensible head is saying persevere, do whatever it takes to see it through and start a new life, freedom. World economy probs ahead yada. I suppose what I’m asking for is a bit of guidance from any that have been in this position and to understand what you did. Thanks all. Salute!

subjecttocontract

Either your property needs a new roof of it doesn't and I wouldn't be putting a new roof on it on the basis of one survey/ builder that says it does......and let's face it, the builder who said it does has a vested interest in saying it does !

Price the property accordingly, perhaps somewhere between so any future work required has already been built into the asking price. There are plenty of buyers out there if the property is priced right. Ask yourself how good is the EA, how experienced are they, have they given you the right advice ?

If you aren't happy with the current offer, walk away and find a new buyer at your new acceptable price.

lincroft1710

Do not be bullied by potential buyers! If you are not happy with the price you are getting, do not proceed with the sale and do not be pressured by your EA.

penners324

Tnothing wrong with the roof. Was daft to agree such a big reduction.

Surveyor covering their backside is all it is

Albermarle

This Sale I’m tens of thousands of pounds down; 

Put the property back on the market.

Regarding the roof - most likely the reality is that it will need a new roof at some point, but not necessarily in the next few years.

user1977

Roofer says needs new roof

Well, what did anybody expect them to say…?

steelsncrete

For full disclosure, it’s a flatfoot. So 15 years lifespan. I had a roofer in 2023 who said you’re ok for 3-5 years. Reasonable guy. Between the buyer and I, we’ve had a further two quotes and they both say the same thing. It does need doing. There are no leaks yet, but it’s borderline gone I reckon. it’s the way the negotiation was handled that’s left me feeling so deflated.

Isthisforreal99

The problem is you have made it personal when, at the end of the day, it's a business transaction. The buyer doesn't want to shell out for a new roof, you don't want to foot the cost. Both are valid stances so either you meet in the middle or you put it back on the market.

Bigphil1474

How much is the quote for the roof repair? If it's a few £k on a £500k house, that's very different to £10k on a £150k house. If you have already reduced the price it's a bit much to expect you to replace the roof as well. It's either reduced to take into account repairs or not reduced and repairs will be done/ paid for. I think you'll regret proceeding if you end up losing loads of money.

WIAWSNB

Do you have to sell?

What property value are we talking about?

How large is this roof, and what quote have you had? Was this quote from your guy, or the buyer's?

How many quotes?

Yes, there will always been unknowns in the property market, but you've seemingly got had an offer for the full asking, which only fell due to other issues. So that would suggest the asking price is pretty accurate.

What to do? Perhaps you are committed to selling, since you've moved out and are renting? But how long can you delay a sale for?

I'd get three independent roofer quotes, and take it from there. Even a felt flat roof should last longer than 15 years, and as folk have said, just because perhaps one crack or bubble forms does not mean it 'needs' immediate replacement. I've put off replacing a wee flat roof over an en-suite for 25 years now - Cromopol is great stuff...

As folk have said, a reasonable compromise on the price would be a figure between now't and a full roof, because it's going to last another 5+ years easily, even if it may need. £200 patch now and then.

First step - quotes. Second, negotiate.

Seems they've breached the moving date completion? Feel free to ditch them - they might even wise up.

RelievedSheff

If you are not happy with the price pull the sale. At the end of the day it is your house and you have to be happy with the price you sell it for.