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buyers messing about

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  • buyers messing about

    Need some advice on our buyers and how to proceed.
    We sold to ftb in January and everything was going through valuation And mortgage seemed ok. Then 3 weeks before completition there mortgage company requested a damp And timber survey. This came back with a small amount of do on the wall . I had already thrown in the. Free standing cooker and wardrobe in and dishwasher and we had accepted 5k off asking price ( house is built in 1885) so some damp should be expected.
    They then arranged a home buyer report which I was there for the guy was there 20 mins tapped a few walls looked around and left he didn't even have a damp reader with him. He came back with all sorts of things that may be a problem evidence of woodworm but not sure if it's old or new etc. We have guarantees for damp and woodworm which are valid and the company's in business still.
    The buyers then asked for half the cost of repairs which is £815 for a small patch of damp and a woodworm treatment which may not be necessary.
    As we're desperate to complete we said we would pay 50% off repairs by taking it off total price for house if they hurry up and complete. They want a cheque for works instead.
    Today 4 days before completition they have said that the homebuyers report 'accidentally' got sent to the mortgage company and now they can only borrow £142k not the original £145. Estate agent thinks we can market property higher if we put it back on but it will take time.
    I'm pregnant and overdue as it is and the property is empty so we're paying 2 mortgages at the moment .
    Feel like buyers are trying it on but do t know whether to cut our
    Loses and see for less or stuck it back on the market higher and hope to sell to better buyers?

  • #2
    Re: buyers messing about

    How much interest did you have before they offered? If it were me I would call their bluff and put it back on the market. You may well find that they are suddenly in a position to proceed as previously agreed.

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    • #3
      Re: buyers messing about

      Hi , we've told the estate agent no to the lower offer and that we want it back on market. He emailed to say he may have rescued it and would call me later but he didn't call so I'm not too hopeful! Looks like back on the market for us!!!

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      • #4
        Re: buyers messing about

        As above, I'd agree to putting it back on the market. It does sound like they are trying to get as mush out of you as possible.

        Also though, you mentioned they wanted a payment by cheque regarding the damp / woodworm treatment so I presume you didn't give them a cheque for this? I only ask because if lookign to proceed quickly, I know some people may be proactive and have written the cheque at the time of request.

        All sounds like a testing time for you though. If there was a lot of interest originally and your agent is confident you can sell again then I'd say remarket it but no doubt people will be interested in knowing why you're back on the market so I'd agree the agent sticks to the 'FTB's had an issue with their finances' rather than 'Issues with surveys / reports'

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        • #5
          Re: buyers messing about

          Hi, we havnt issued any chq yet we are only doing that on collectionof the keys if they complete on time . They've come back today saying the still want to proceed at the original offer so was obviousley a lode of rubbish about there mortgage ! I've got the damp and timber guarantees which show it was the same wall treated so should be covered so I've sent it to estate agent and am going to refuse to pay half also now they've been messing about as it's covered! They won't get a house as cheap now anyway as they've gone up a bit since ours was on the market so I think they'll still go through with it.

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          • #6
            Re: buyers messing about

            Ummm, unfortunately the laws on buying and selling houses are so damn vague, and neither buyer or vendor has much protection. Your decision should be based on whether or not the house your buying will fall through if you lose the buyer. I would try and negotiate 50% of the £3k difference, as losing a buyer for the sake of £1500 isn't worth it. Unfortunately not everyone has the same level of integrity as us !!

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            • #7
              Re: buyers messing about

              They've come up with the full amount now surprisingly so basically we're just trying it on at the last minute! Paid there deposits and should complete tomorrow! Glad I stood my ground and said no to lower offer it worked thanks for advice!

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