ready to exchange and my buyer is trying to fleece me!

gemmiegoatlegs

Suzy - my EA told me right at the start that they have dealt with these buyers before and they tend to complete quickly. At that point, it sounded like a good thing. Maybe if they are counting on these buyers taking a few more properties off their hands in the future, the EA's loyalty is towards them and not me. Maybe my thousand pound of agent's fees seems like small fry to them in comparison.

I have just had agent on phone, purchaser wants to come round with "someone" on Wed. I had not previosly read all your helpful replies but before I agree to anyone coming round I need to know who they are, who they work for and in what capacity they are examining our house. They also want to check out the "damp". I explained to the agent that no damp has been recorded and I don't think its fair to come around looking for extra problems that might reduce the price at this stage. The walls are neither wet nor mouldy!

gemmiegoatlegs

Is it possible to view a copy of their valuation, through my solicitor or otherwise?

Doozergirl

Not really. It's not yours. You often don't even see a copy of your own valuation report. It's for lending purposes, not even for the buyer.

It will not categorically state that there is damp or that the chimney breast is unsupported. It will be a few lines in which they will use the words like 'appears to' and 'investigate further'.

If the mortgage compnay doesn't downvalue the property then they shouldn't *really* be arguing. But neither should they be using a valuation report as the only indicator of what might be wrong with the property.

ontheslide

Now, correct me if I'm wrong but you can't go around asking vendors to reduce their house prices based on problems that are not there....


..sounds like a bit of 'gazundering' to me...
..would you dump this buyer if someone came in with a higher offer..??

..if your answer is yes... then you can't really be too aggrieved that your buyer is trying to chip you in a falling market...

..of course if you're a person of principles and would never stoop to the shady practice of gazumping then you have every right to be upset..

gemmiegoatlegs

i have now got a copy of their valuation (minus the bits with the valuation on) from my agent saying that damp has been noted, doesn't say where. I still can't see it! The guy he wants to bring round on wednesday is his own builder. I explained to EA (again) about how I want someone impartial and she basically said they were using this builder cos he was free for estimate! She has now said buyer is threatening to pull out, I said I am not to be bullied. She is luring their "ready to complete" status over me like the proverbial carrot and I had to remind her that I was not being difficult, and was happy to allow access to a qualified impartial person. She has agreed that I can submit my own builder's quotes for the work, and even had the audacity to suggest that we could "meet in the middle". If it costs 1000 pounds from my builder, why should I pay 750 quid for nothing???? I have a feeling they are going to pull out unless I allow myself to be bullied. What will tomorrow bring,eh?

r.mac_2

I don't like the sound of your EA tbh. Have you had other interest in the house? any other offers? how long has it been on the market? how desperate are you to sell?

I would be tempted to tell them your price is a fair one and reflective of the property's condition (whatever that is!) and they can take it or leave it?

would you consider paying for a survey to satisfy your own worries about the house?

can you/what would it cost to consider dumping surrent EA and getting a new one??

Just thinking outloud.....Good luck x

Bungarm2001

If it were me I'd tell them that was the price, end of...but thats me.

Seems clear to me that they are trying to work the price down and possibly using the fact that maybe you are not as experienced in this game as they are and trying to bully you slightly?? (correct me if I'm wrong about the experienced bit..:o )

Their timing for all this to be 'discovered' is a dead giveaway. 'Damp' along with those old faves 'electrical problems' and 'roof problems' are so typically used by all sorts of buyers to try to force a price down, so the fact that these guys are using at least one of the old faves is also a bit of a giveaway.

The word 'damp' usually does strike fear in any buyer or seller, and experienced buyers know this, this is why they 'find' it. It is one of those things that just cannot be proven one way or another without proper and thorough investigation when an obvious cause can't be found. In this case it looks like there's a good case for disputing any damp being present particularly since they didn't even use a damp meter. :rolleyes:

The fire breast prob can be checked easily enough...get a qualified independant structural engineer to look at it and give an appraisal. Could be well worth the fee if it stops them also using this as an excuse to ask for a reduction. A builder is not qualified...all he wants is the work and who can blame him.

Your EA sounds like the pits too and I suspect they all know each other pretty well. I wouldn't mind betting they have done something like this in the past. As another person posted, she/he doesn't exactly seem to be on your side. Remember, the EA works for YOU, NOT the buyer..perhaps they need reminding of this fact.


How desparately do you need to sell? Can you afford to dig your heels in, maybe offer 500 quid reduction as a goodwill gesture as someone suggested and make it clear you won't be moved on the price at all after that? It might at the end of the day come down to who's nerve breaks first. Good luck mate.

rach29

Hmm, My guess is that the valuation matched the price being paid & that's why you didn't get that part in your copy. Can't think of any other reason not to let you see that part also.

I think they're trying it on to be honest, but it's for you to decide how to deal with it. Personally I think I would be tempted to tell them to pay the agreed price or "go forth & multiply" but only you can make that decison.

Good Luck

gemmiegoatlegs

it's really difficult now, we have a house we are about ready to exchange on, sales are slow in our area (as they are everywhere!) but I can't get past the feeling that they are basically school bullies threatening to flush my head in the toilet. This is only our second house purchase but I'm not willing to roll over and die just yet!

haylibo

It does make you wonder how well the EA and purchaser know each other. Heard a horror story once about an EA fielding offers on a property so a friend could swoop in with the 'only' offer and bag a bargain.
I'm not suggesting that these guys are as crooked because there is nothing to suggest that but ever since hearing the tale I'm on the cynical side of things when it comes to EAs.