teachertim Posted September 19, 2006 Share Posted September 19, 2006 I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date. I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace. I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Thanks guys Quote Link to comment Share on other sites More sharing options...
OverInflated Posted September 19, 2006 Share Posted September 19, 2006 (edited) I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date. I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace. I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Thanks guys Think of all the interest you are saving by it being delayed Probably the only way to get them to drop the price is to be prepared to withdraw your offer, then they have to put it back on the market. They may genuninely not be able to afford to sell for less, for example if they have debts that have been attached to the house, the company may block the house sale if they can't pay the debts off with the sale. Edited September 19, 2006 by Adrian Allen Quote Link to comment Share on other sites More sharing options...
OverInflated Posted September 19, 2006 Share Posted September 19, 2006 Well Tim, I'd say you are fighting from a position of weakness. I mean, 'all my stuff in their double garage'. I mean, if you'd STR'd and didn't have any claim on your stuff being stored, it may be different. Unfortunately, when dealing with total strangers, it ALWAYS best to either have a legal agrement in place, OR treat them as though they are crooks or worse. Although that doesn't help you now, I can't see what else you can do? I mean, if you do knock off £1,500 what's to say the day of the exchange, your stuff might get trashed? You could try appealing to their 'better side' but from what you say, I doubt they have got one. Good luck Tim. I think he means his stuff is in his parents garage. Maybe they will trash his stuff. Quote Link to comment Share on other sites More sharing options...
enworb Posted September 19, 2006 Share Posted September 19, 2006 It could be their solicitors dragging their heals and not the vendors. If you use a bit of tact you may get something for your troubles. Calculate how much it is costing to commute and ask them to compensate. If they know how it is affecting you they may change their mind. Demanding £1500 will only get their backs up unfortunately. Good luck. Enjoy your new home whatever happens. Quote Link to comment Share on other sites More sharing options...
PropertyGuru Posted September 19, 2006 Share Posted September 19, 2006 have a pair, why don't you Quote Link to comment Share on other sites More sharing options...
enworb Posted September 19, 2006 Share Posted September 19, 2006 have a pair, why don't you I agree. Strap on a pair buy only to demand your solicitor represents you better. The only tact needed is between the vendor's solicitor and the vendor. Any party prior deserves a piece of your mind. EA, your solicitor. Us if it makes you feel better Quote Link to comment Share on other sites More sharing options...
SarahBell Posted September 19, 2006 Share Posted September 19, 2006 I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date. I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace. I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Thanks guys Don't buy it. Really. Quote Link to comment Share on other sites More sharing options...
philippa Posted September 19, 2006 Share Posted September 19, 2006 Tim take two steps back and count to 100. It really isn't worth the stress - as you will realise this time next year when you are established in your new home. Life is too short. Quote Link to comment Share on other sites More sharing options...
Bingley Bloke Posted September 19, 2006 Share Posted September 19, 2006 I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Find somewhere decent to rent and tell them to go **** themselves. In a few years you'll get something twice as good for the same price. Quote Link to comment Share on other sites More sharing options...
Montauk Posted September 19, 2006 Share Posted September 19, 2006 I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date. I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace. I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Thanks guys How much would it cost you to walk away from the deal? How much would it cost to walk away from the deal if house prices went down even just 10 percent? It sounds as if the seller knows that you are a polit upright person and they are taking advantage of you. All the professionals are eyeing the US market slump with very nervous eyes. Give us a figure to work with. About how many pounds would you lose? Quote Link to comment Share on other sites More sharing options...
dog Posted September 20, 2006 Share Posted September 20, 2006 I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date. I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace. I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Thanks guys You have convinced yourself that pulling out is unthinkable. In this mindset, you cannot negotiate with conviction (even if the vendor is being unreasonable). If I was in your shoes I would look for another property. If and when I found an acceptable alternative, I would go back to the current vendor and give him a reasonable but non negotiable ultimatum. Quote Link to comment Share on other sites More sharing options...
Rachman Posted September 20, 2006 Share Posted September 20, 2006 There are lots of houses for sale - unless this is an exceptional house in a unique location at a steal price, then get hold of your own balls, tell them to exchange by Friday or the price gets cut £1,000 a day will they do sign. At the same time, go and see their estate agent, explain that you have no confidence in the seller and ask to go and see other properties in the same market he has up for sale and view them same day. Express interest in one and go back and see it again and ask whether their seller is prepared to exchange in 2 weeks (you will do expedited searches and have the mortgage in place). If they refuse after talking to theiragent, this is where you have to be prepared to walk away. Or you will come across as a total sap. Your choice is to let them get away with it if you desperately want this house or to tell them to sod off if they don't get back into line - at the moment, they are getting exactly what they want - because they think you are a certain buyer so they can mess you around. I don't buy this solicitors slow rubbish - I am one and conveyancing CAN be done in virtually no time at all if there's no ridiculous headlease and managing agent issues. Solicitors are slow because people let them be - they can and do hurry it up when told they have to. Quote Link to comment Share on other sites More sharing options...
RichB Posted September 20, 2006 Share Posted September 20, 2006 Walk away from it, live with your folks for 6 months and save the cash... tell the vendors that when they are serious about selling to come and talk to you again. Knock 10k off the price at that point, and add your 6 months savings to the deposit. Quote Link to comment Share on other sites More sharing options...
misfit Posted September 20, 2006 Share Posted September 20, 2006 I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date. I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace. I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Thanks guys This may be a high risk strategy but I would withdraw my offer. I threatened to do the same when I was having problems with my vendor. I agreed a moving in date of 5th September but after the offer they said I must be in by early August. I refused and threatened to withdraw my offer as I was so annoyed. Needless to say they needed to sell the flat so 5th September it was. I did offer to move for £600 (to cover my rent plus a 15% mark up) off the price of the flat but they refused and we once again settled on the agreed date. It was a dangerous game to play but I refuse to be dictated to. My mentality is that there are plently of properties to choose from so you are actually in a stronger position. I agree with the sentiment of most of those on this site that property is overpriced so I will not be trading up just yet. Please note if this strategy is incorrect and CO et al are correct (I do not have a crystal ball) then I do not have as much to lose as I already have a property. This is a risk I am willing to take rather than get myself into too much debt which depending on your personality can cause arguments and be depressing. I have my own personal reasons for this as I remember my Father's change in personality after taking any job going to pay his mortgage after losing his job as a Regional Insurance Manager through illness. Quote Link to comment Share on other sites More sharing options...
Carabansity Posted September 20, 2006 Share Posted September 20, 2006 Out of the frying pan and into the fire, TT. Not having the greatest of luck are you I'm not surprised by the advice you are being given - this is a fairly bear forum after all Given that you have lurked/posted here since before you sold shite road and have put an offer in on this property I figure you plough your own course. Market sentiment hasn't changed enough yet for your vendors to realise you have control. I like Rachman's post, read and learn. If the delay is down to your vendors having their own timetable and you have no great commitment to this new house, rent nearer to work. Manning's have a few nice enough flats and small houses for rent for under £600. http://www.manningstainton.co.uk/search-re...dbtype=lettings Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted September 20, 2006 Share Posted September 20, 2006 I put an offer in on a house a long time ago, we both agreed a mid august completion That was your mistake. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted September 20, 2006 Share Posted September 20, 2006 Do you mean exchange date? The completion date is fixed on exchange and if they miss it there are enormous costs to them, so you must mean exchange. Simultaneous Contract plus completion is now possible owing to CHAPs transfers. Quote Link to comment Share on other sites More sharing options...
Guest prudence Posted September 20, 2006 Share Posted September 20, 2006 I would give them a deadline and tell that if they don't meet it, you are not proceeding. Let them find new buyers at the worst time of the year for house sales and with the media picking up the pace of bad news stories. Try andkeep an eye on the property and if in a few months time you think they are still looking for a buyer but haven't got one make contact again. Tell them you are still interested but market conditioins have changed and so is the price (lower) you are prepared to pay........ If you lose the property, so what. Increasingly this is going to become a buyer's market.......... Quote Link to comment Share on other sites More sharing options...
Marina Posted September 20, 2006 Share Posted September 20, 2006 I put an offer in on a house a long time ago, we both agreed a mid august completion, which at the time was perfectly practiacl. I sold my old house and moved out of it, I needed to get shot asap so that was my choice. I moved out on august 18th, the date we had previously agreed to work for as a completion date. I am currently living with my parents, all my stuff in their double garage and commuting 80 mile round trip to work a day. My choice I know, but my vendors kept promising 'next week' etc.... Anyway, long story short, transpires their sol only applied for enviro survey 10 days ago, so not going to complete until at earliest this friday (yeah, whatever I hear you cry) or more likely, next Friday. Thing is, I am so pissed off that they have let it drag on this long, they took my offer, said yes, agreed to all my terms and then as soon as I had spent some money on it (search fees, survey) decided to go at their own pace. I want to reduce the price cos I am so annoyed (male pride and all that) I have already said I am not going to pay my original offer and offered them £1500 under what that was, they said they cannot afford to sell at that. I don't want to loose the house but feel totally trampled on by them. What can I do to reclaim some pride and some cash ? Thanks guys I know this will sound a bit snotty, it is not meant to ... you sound as though you don't really understand the ins and outs of house selling. I would ask your solicitor the following. Have pre-contract negotiations between the solicitors been completed? (This usually involves your solicitor pointing out anything he thinks needs pointing out to you, getting your response, going back to the vendor's solicitor (who may have to check with the vendor or make other enquiries etc) and agreeing the terms of the contract. If pre-contract negotiations have been completed ... Have you signed the contract? Ask your solicitor to ask the other solicitor if the vendor has signed the contract. After each solicitor has a signed contract in their hands they have to 'exchange' the contracts. Assuming your funds to buy the property are in place, your solicitor will ask you to accept/agree a completion date (date you get the keys) and ask for your specific instructions to exchange contracts. The way you have described things it all seems very wooly. Is your solicitor on the job? Quote Link to comment Share on other sites More sharing options...
teachertim Posted September 20, 2006 Author Share Posted September 20, 2006 Marina, I'm frustrated, not stupid ! Course I know how it works. The sols have done everything, just they decided they wanted an enviro search from some reason, after we had signed the contracts but before the sols had exchanged them ! Quote Link to comment Share on other sites More sharing options...
Marina Posted September 20, 2006 Share Posted September 20, 2006 (edited) Marina, I'm frustrated, not stupid ! Course I know how it works. The sols have done everything, just they decided they wanted an enviro search from some reason, after we had signed the contracts but before the sols had exchanged them ! My apologies. It would be your solicitor who wants an environmental search - as he is looking after your interests. There is no excuse for a delay. They can take 24 hours It sounds like a typical house delay to me - caused by one or other of the solicitors basically fecking around. Yet you are blaming it on the vendor and looking for a price reduction. I would be looking for a fee reduction from my solicitor, not a price reduction from the vendor. Why blame the vendor? Edited September 20, 2006 by Marina Quote Link to comment Share on other sites More sharing options...
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