Caporegime
- Joined
- 11 Mar 2005
- Posts
- 32,224
- Location
- Leafy Cheshire
Unlucky, we've stopped looking as not willing to get into the same situation as yourself, going to wait for the market to cool down.
The nervous wait to exchange....
- Thread starter noj
- Start date
Unlucky, we've stopped looking as not willing to get into the same situation as yourself, going to wait for the market to cool down.
This was the guy you were waiting on to find himself a place so you could buy his? What a tool! Did he have any reasoning whatsoever? Hope you told him to do one (in stronger terms).
Soldato
- Joined
- 28 Dec 2017
- Posts
- 9,267
- Location
- Beds
After both me and the vendor's estate agent chased our solicitors on the same day, finally got back most of the paperwork. Contracts, covenants, drafts, deeds etc etc. Lots of reading to do tonight!
What a ****ing dick move. I get that 50k might look like a lot of money for free but ... Don't agree to selling something if you don't plan to actually do so. Sorry mate
Yep it's not a bad idea at all. I am not going to rush into anything but just annoying my mortgage will probably expire now before I can get anything else which is a pain.
Yep that was it. Not really, he never contacted me it was the estate agent. The agent just basically asked if I wanted to raise my offer.
Yeah 50k is very strong. If he was asking for 10k to help push him over the edge for his new property I'd have some sympathy but a 10% rise is taking the mick imo.What a ****ing dick move. I get that 50k might look like a lot of money for free but ... Don't agree to selling something if you don't plan to actually do so. Sorry mate
Terrible behaviour. If it doesn't affect you too much then agree to it, string them along for as long as possible while looking for another property. In 6 months time offer them £20k under your current offer as "things have changed" and see what they say. I think if someone did this to me I'd not want to buy their place anyway as they'd try other silliness down the line.
Soldato
- Joined
- 28 Dec 2017
- Posts
- 9,267
- Location
- Beds
Well I'll say one thing about having to wait months for a purchase to complete. Every payday that drags by adds to the moving fund!
- Joined
- 14 Jun 2004
- Posts
- 17,510
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- Newcastle U/T
what an utter ****
Sorry man
I'm wht the others, string him along say youll pay it then in 6 month time say oh sorry summit came up can only offer 50K less
You will need a new mortgage offer and it may be downvalued anyway
Yeah its pretty frustrating in all honesty. Its already back on the market and I had half a mind to get everyone I can think of to pester the estate agents for viewings etc and just waste their time.what an utter ****
Sorry man
I'm wht the others, string him along say youll pay it then in 6 month time say oh sorry summit came up can only offer 50K less
It got downvalued originally, I then added another 10k to get his original asking price!
Prices are still strong but no sign of slowing down atm from the people I’ve spoken to in the know. Some people are advertising through agents, finding buyers then dealing privately to cut the commission for the agents.
We are selling a property soon and it is an estate agent tactic to do this. They walked us through how they would do it explaining the first 3-4 weeks are the busiest so they set an ambitious price then they will reduce after that slightly which will generate more interest again to get it to sell.
Soldato
- Joined
- 17 Jun 2012
- Posts
- 9,898
- Location
- South Wales
Prices are still going up here. There's houses being reduced but those are the ones who were taking the **** in the first place. Anything that's 'sensibly' priced get's sold.
Deleted User 298457
Deleted User 298457
So no movement since 25th Jan but the lady who offered £525k reoffered £525k which I've accepted. That's a £75k increase since April 2019. Although I have done £10-15k worth of work (kitchen, bathroom, window refurbs, glass changes, fitted wardrobes etc).
Now to find a house...
About to exchange and the seller is gazumping for another £25k. After they messed us around for many months delaying the exchange I’m wondering how long I can drag this out for before they realise I’m not going commit to any increase and will walk.
Edit: plan so far is to tell them that more money means we need to go into a chain (we are chain free at the moment) so they will have to wait or we can complete at the original agreed price. That will really test them if they actually do want to hold out for more as they will have to wait for another buyer to come in to offer more and then go through the process again which will take around 4 months. We are ready to walk otherwise.
Edit: plan so far is to tell them that more money means we need to go into a chain (we are chain free at the moment) so they will have to wait or we can complete at the original agreed price. That will really test them if they actually do want to hold out for more as they will have to wait for another buyer to come in to offer more and then go through the process again which will take around 4 months. We are ready to walk otherwise.
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They need some laws around house purchasing and gazumping
It's a horrible situation. I guarantee if we bought this house now we would have had the same.
It's also disgusting you have to wait months. All the way to exchange to be locked in. Really, I can't believe there isn't some penalty for this
It's a horrible situation. I guarantee if we bought this house now we would have had the same.
It's also disgusting you have to wait months. All the way to exchange to be locked in. Really, I can't believe there isn't some penalty for this