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House sales - Is this cheeky or the norm?

House sales - Is this cheeky or the norm?

Old Nov 12th 2013, 10:55 am
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Default House sales - Is this cheeky or the norm?

Today I visited the lawyer to sign the paperwork for the sale of our house which is due to settle on Monday 18th. it has been unconditional since the 4th

We were presented with a letter from the purchasers laywer which stated that the purchaser reserved the right to pull out of the agreement unless we reduced the cost of the property by $19,000

The reason:- They had a second rent appraisal which was $70 per week less than the first one meaning they calculated they would be losing the above sum over a five year period.


My first thought was "You cheeky bastards"

The contract been unconditional for over a week. No pulling out now im afraid.

I have no doubt that this was a scaremongering tactic as they will absolutely know that we are relocating south and also because we were adamant about a short settlement date.

The threat to pull out assumes that are idiots or at the very least very naive and will capitulate to their unreasonable demand which as far as I am aware has no legal ground.

They had theyre opportunity to have appraisals done before going unconditional and regardless this is not a valid reason to renegotiate the sale price - Personally I dont really care how much they can or cannot rent it out for the sale price was set and agreed on on the value of the house and land in the current market and no other reason.


I instucted the lawyer to tell them "No"

We would prefer to sell but have no pressure to do so - they seem to think otherwise

In situations like this Id rather cut of my nose to spite my face but common sense must prevail and a settlement will go ahead as planned of this I am sure.

Rant over.


Has anyone else been this cheeky? Am I overreacting here?

Last edited by gazmac; Nov 12th 2013 at 12:13 pm.
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Old Nov 12th 2013, 4:59 pm
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Default Re: House sales - Is this cheeky or the norm?

I hope your lawyer had a good laugh at it with you. Unconditional is unconditional - for both of you.
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Old Nov 12th 2013, 6:00 pm
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Default Re: House sales - Is this cheeky or the norm?

perhaps they do not realise the meaning or consequences of going unconditional.
Whatever they decide to to you won't lose out as they have to make good any shortfall you make on another sale and I think costs (?) so they would be out of pocket with no home
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Old Nov 12th 2013, 6:04 pm
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Default Re: House sales - Is this cheeky or the norm?

That's ridiculous. They could make back double that if they sold it in a good market. And nobody knows what the rental market will do. They're just trying it on. I'm surprised their solicitor even went through with it. Hope he charged them heaps to do the work.
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Old Nov 18th 2013, 7:20 am
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Default Re: House sales - Is this cheeky or the norm?

Settled today. No last minute hiccups
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Old Nov 18th 2013, 6:59 pm
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Default Re: House sales - Is this cheeky or the norm?

I,m with you and would rather lose money than give in to these cheeky baskets

Neil
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Old Nov 20th 2013, 9:14 pm
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Default Re: House sales - Is this cheeky or the norm?

Yeah Neil, I just felt so pissed off at the cheek of it all, fortunately it was to late for them to make any real issues out of it and now its all settled.
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