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Nobber
Guest
Sorry more OFF, I told them to swivel, can I claim costs?
Thanks
Thanks
B
blindjustice
Guest
agree with above ^
Cash in, a year from now I might offer you 100k off which you might accept...
Ditto, it's interesting though i've heard of this happening a few times now. Not quite the day of exchanging contracts but near as dammit.
Friends of ours also told someone to 'swivel' three months ago under similar circumstances amid much indignation that they had the nerve to even ask, this was approx a 20k underbid of an originally agreed 785k.
They're now seeking offers in the low 700s in the hope of getting another bidding war going (which was what happened last time) and nobody dares to mention the hassle they could have saved by accepting the offer three months ago. Never mind the fact they're about to take bridging finance to cover their new home.
Bank Manager
Registered User
- Messages
- 311
I think the post should read - "Buyer asks for a reduction of E10k on contact signing day"..........
if it's not this, then like you I haven't a clue what all this is about...................
BM
if it's not this, then like you I haven't a clue what all this is about...................
BM
Totally legal, but well out of order. They possibly got rid of any other interested parties in your property by bidding them out of it.
If you feel in a corner, you could accept (hoping that they won't revise "reduction" demand), and make sure that your solicitor has the standard late closure penalties clause in the contract.
From what I have experienced and seen, many closures get delayed by buyers, so if they delay, don't warn them, and you might be able to hit them per-diem interest as per the clause. I have never done it, nor have I had it done to me, but would relish doing it to someone such as your "buyer"!
If you feel in a corner, you could accept (hoping that they won't revise "reduction" demand), and make sure that your solicitor has the standard late closure penalties clause in the contract.
From what I have experienced and seen, many closures get delayed by buyers, so if they delay, don't warn them, and you might be able to hit them per-diem interest as per the clause. I have never done it, nor have I had it done to me, but would relish doing it to someone such as your "buyer"!
Your estate agent can advise whether any other of your bidders (if there were more than one) would be willing to pay the original price.
Perhaps the buyers are having difficulty raising financing at the sale agreed price. This happens, you know. A friend of mine dropped his price by 30k or so a couple of years ago because of this kind of situation. Sometimes you don't have time to be hard-nosed about it, especially if you're ready to close on another property.
Perhaps the buyers are having difficulty raising financing at the sale agreed price. This happens, you know. A friend of mine dropped his price by 30k or so a couple of years ago because of this kind of situation. Sometimes you don't have time to be hard-nosed about it, especially if you're ready to close on another property.
Be it commission or fixed price I would imagine that the estate agent would advise you to take the - €10k offer. Their money is "made" and they hardly want to put any more of their resources into it.
One way to deal with the estate agent is to say that they can get stuffed with all fees as they have brought a rougue-buyer to you and that you are now selling elsewhere or privately. The €10k might suddenly re-appear?
And they only found out as they were going to sign contracts?
They should not have bid without being confident of their potential to pay. If it was highlighted at time of contract, I would imagine that it is their slimey way of trying to save €10k.
I'm not defending the buyer - just pointing out that it can and does happen. Especially if there was feverish bidding between several interested parties - but not necessarily so. Circumstances can change.
But the bottom line is that there is no agreement to buy - at any price - until the contract is signed. The market is softening - so I'd expect this kind of thing to happen more and more as the market transforms from a seller's to a buyer's market.
T
thewatcher
Guest
Exactly,sellers have been shafting buyers left right and centre for the last no. of years and suddenly when the tables are turning people are up in arms over it,what do you expect !.
I'm not saying it's right but morals went out of the Irish Housing Market a long time ago,expect plently of this on the way back down.Buyers have simply copped on to what everyone else has been at for the last no. of years.
You reap what you sow !.
M
miju
Guest
exactly
i dont think gazundering quite works the same way as gazumping does , plenty more properties on the market for the buyer to choose from and asking prices are beginning to drop steadilyi'd personally advise give the buyer the 10k of he / she is looknig for and cash out your chips
then again if you REALLY believe the market is strong and you'll get a bid in again at the original agreed price then tell em to **** off
not to belittle the OP's situation i think it's funny that the shoe is on the other foot here....not so long ago a buyer wouldn't even have dreamed of doing that and would have been expecting to be gazumped