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U.K. renegotiation after survey

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  • U.K. renegotiation after survey

    We marketed a property on behalf of a family member when they went into a care home. The house was valued by 2 estate agents - one at £160k and one at £155k. We went with £155k. The first person to view the house, initially offered £137k which we turned down and said we’d be willing to sell for £145k - we wanted a quick sale. The buyer return 3 days later (the same day our family member dies) with a revised offer of £140k which we accepted on the basis there would be no renegotiation after the survey and were willing to wait for probate (2-3 months). The buyer has had a survey completed which they have shared, it clearly states the price is reasonable in the houses current condition, with a couple of things highlighted for repair. The bit has come back asking for a further 10k discount!

    we have said no as we think she is just trying it on, the house is a 3 bed semi with a garage, with no other houses in the locality remotely close in price - one a few doors up is on the market for £180k. All other properties around her offer price a 1 and 2 bed flats with no parking.

    We have offered to repoint the chimney and replace the cast iron guttering if she wants - but she’s still wanting further discount.

    we are in no rush to sell - should we call her bluff and tell her to walk away and we’ll put it back on the market?

  • #2
    You should not drop your price as you made your terms clear but with most transactions of this nature I expect that you have as it is a sale with the tag "we wanted a quick sale" !!
    Also you are selling as a representative of someone who went into a care home check out your legal position i.e do you have the right to make such financial decisions on behalf of relative it may be an issue where you could be pursued for selling without full power of attorney on financial matters

    I expect that the shame of it is you have been incorrectly advised on this matter