Flutterby

They have got a cheek but really how much do you want to get rid of the house after 2 years 5 months on the market?!! We were on the market for a year and were tearing our hair out by the end of it.

If you can, offer to split the difference, our buyers asked for a last minute discount of 2k which we counteroffered them with 500GBP as a goodwill gesture, they accepted and we exchanged 2 days later. They just want to feel that they are getting the best possible deal out of you.

Possums

you should be in border control

wardy2

It may be that the bank has changed the condition of the mortgage offer.

My friend an her husband have a mortgage broker business and she was telling me this the other day that because of banks changing their offers due to valuations changing week to week they are really messing people about who are waiting on their mortgages.

Valuers are going in one week giving one price than a week later reducing the valuation because they just dont know what to do.

My friend says they are getting loads of business then lose it because of things like this happening so the mortgages fall through.

People are getting half way through their applications and the lender pulls out on the buyers

They are now facing bankrupcy and have had to cash in his pension to try and tide them over and pay his staff.

I know its a hard decision but maybe just masybe they really arent trying to mess you about is it worth asking them what the complication is maybe their story is the same as what my friend is telling me from the other side

good luck

itigo

This kind of happened to us in January - had sold in November and their mortgage was refused after an offer in principle. But they already could not offer the right deposit and so asked us to INCREASE the house price in order to raise the deposit (think that's right - gifted deposit - we would never see the increase, it would go back to them). I do appreciate how frustrating it is. In the end they got spooked and backed out of the whole thing........but after putting it back on the market, got a higher offer than the 1st one that went through no problems.......

It's a gamble, but I personally say if there's issues already, there may be more in the future.......

Good luck - keep going and hope you enjoyed the wine....mmmmmm not quite time here yet..........!

BadgeIsBack

lol. I might have sounded a bit off, but I really feel that some people need to relax a bit more with some of the old decisions, and engage the grey matter about what is on the table!

At the end of the day, they're in a chain. The buyers are probably just as annoyed they will stuff up a chain than the fact they need to find the money.
And refinancing etc will delay more..

I chopped off 5k from my flat to get a speedier sale.

busterboy

And I chopped 14k off mine just to get out of Dodge (and that was before the recession).

(Thought the guy clubbed to death by baseball bat wielding chavs outside the door probably warranted the price drop).

LouiseR

We dropped £50k It was worth it though!

northernbird

I agree, I have recently taken an offer of 5k GBP below what I wanted because I thought it was daft to lose a sale over such a small amount in the current economic climate.

To the OP, if you want a sale stomach the cost and get rid. it might be a while before a sale comes along again.

SamSi

So these people were transferring their current mortgage to your property and their lender has now declined that? Not unheard of, and lenders are pretty much doing whatever the hell they like at the moment, but it still sounds like someone has been stringing you along somewhere.....

My advice would be to ask to see the written proof of what the lender has said and the penalty fee etc via the estate agent. If the proof exists - pay the money and caveat it by saying that your offer is conditional upon their survey/valuation being carried out within 2 weeks - this should hopefully generate some momentum for you. All the best,

sonlymewalter

Everyone has a break point that they are willing & able to negotiate to.

l always think "how long will it take me to get over it" - if the decision is going to be *history*in a couple of years - then it's worth it

louise

Thank you for all your replies and I take all of your comments on board

However, as I said in my original post we have already dropped the asking price considerably due to the current economic climate. My husband and I have agreed there comes a point when enough is enough, I'm sure we could give our house away to thousands of people

4K may not sound a lot in the grand scheme of things but as the buyers know where we are intending to go I'm sure it wouldn't stop at 4K.

Update
We heard from the estate agents yesterday who said the buyers have now made an mortgage application with a new lender and we should hear something early next week

moneypenny20

I don't get why you're so wound up by it. Everyone in your neighbours situation would try to get as much off as possible, including you presumably if the shoe was on the other foot (daft expression ). If you don't ask you don't get and how ticked off would you be if you were your neighbour, you'd not asked and then after the event they had said they would have gone down further?

Possums

I was being serious LOL

we also chopped a chunk off ours and it took us a hell of a long time to sell also.

Juliecabs

My house has been on the market for 2 years on the 2nd July. We've already dropped it £80K but still no buyers.
What I wouldn't give to be presented with an offer £4K under the asking price.
If you are really desperate to move, then my advice is to sell at the offer you've been given. You don't know when another decent offer will come along.

Good luck,

Julie. x

lapin_windstar

Hey - look at it this way - you didn't lose anything. You just ended up paying 96 quid per week to live somewhere (10,000 / 52 / 2). That seems pretty reasonable compared to sleeping in the park!

Houses are for shelter and enjoyment, not short-term moneyspinners. If you make a bit of money, that's great but the expectation of a profit every time is what got us into this mess!