put deposit down and now refused

I

ilovepink

Registered User
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129
hi guys.
just wondering can anyone give me advice.
were devastated today only to find out some bad news.
we offered a price of 340k on a house in glanmire in cork and it was accepted.
we are mortgage approved and paid the auctioneer 10k in deposit last week. we were due to pay more of it this week.
today the auctioneer rang mr to to tolf that the builder were pulling the house agreement as they are now deciding that they wernt leaving the house go for any less that 355k. i was told sorry and that was it....... has anyonr been in the position before or what do we do next...
were at a loss as to what happened..
thanking you in advance
 
I'm sorry thats such a kick in the teeth?

Was the 10k a booking deposit had contracts been signed?

When i purchased my house we put 2k down as a booking deposit which was re-funable at any time if we changed our minds. 2 weeks later we paid a further 8k and signed the contracts. Once they are signed i dont think either party could pull out. If we changed our minds then we would lose the desopit.

If no contracts were signed i dont think there's anything you can do about that house. Let the builder try and find another buyer it's not like people are falling over themselves to buy at the moment.

You just have to get over it, move on and find another house. There's no point dwelling over it if there is nothing you can do to change it. I'm sure it wont be long untill you find another house, and it could be even better than this house. Then when you move in you can have a drink and celebrate while the builder is still trying to sell the other house.
 
If theres nothing you can do about it and you still want the house you could always consider putting in another offer. Given the general direction of the market I dont think it unreasonable that you would offer say 330k.
Cheeky ? Maybe.
Not as cheeky as whats just been done to you though.
Other than that, as previous poster says - move on.
 
The builder could just be trying to squeeze you for an extra €15k. I wouldn't be suprised if he came back to you in a couple of weeks accepting your offer. At that point you should give him a taste of his own medicine by knocking 10k off your original offer.
 
lol amerritt ah offer of 330k when the 340k offer has just been withdrawn because the builder wanted more. I think thats more than cheeky!!!

I'm thinking the builder must of been offered more, either that or he's just a total idiot. He has a sale going through and to pull out with no other offer in the current market situation is just madness. But maybe he is mad.

If the builder does come back to you i'd offer a lot less that 330k, see how he likes it. I bet he wont be happy lol
 
Do not offer more. State that your original offer stands until the end of the month for example. Ring them back and offer that again, what you don't want to do is make the builder feel like he is backing down because he probably has a thick neck on him. If you make this into a battle of wills then you probably wont get the house at that price you want.
 
It sounds to me that there has been a higher offer already and the EA prob does not want a bidding war. It would be a strange decision to risk withdrawing without someone to take the OP's place.
 
aristotle25 said:
Do not offer more. State that your original offer stands until the end of the month for example. Ring them back and offer that again, what you don't want to do is make the builder feel like he is backing down because he probably has a thick neck on him. If you make this into a battle of wills then you probably wont get the house at that price you want.
Click to expand...

+1
I would go for a shorter time frame though, say 1 week- you don't want to be hanging around with the uncertainty for very long.
I'd also add, that you wouldn't be prepared to pay that much beyond that time, given the market. If he comes back (and in all most probability he will!!), knock 10K off as another poster suggests.

He is being extremely cheeky, an agreement was made (albeit verbal, but with a booking deposit) and he's obviously not a trustworthy character to be dealing with, - don't be a doormat, - don't stand for it.

Be prepared to walk away, - there are plenty of nice houses out there. You can be sure another nice house will come up, and you'll probably do better for your money anyway.
 
Get your money back and walk away quickly - if that is the type of relationship the builder and your auctioneer want to kick-off with you, you only have a road of hardship ahead - how many more items are going to be changed at the last minute.....
 
I am not sure about offering less should the builder come back and accept the 340. The builder will just walk away from the deal. If you are happy with 340 then stick to it.
 
Tell him that your 340 offer stands right now and if he isnt prepared to complete the sale at this figure, you want your money back.

If after getting your money back, he reverts to you to see if you are still interested, offer 20k less. If he complains, say "we were prepared to buy at 340, but you refunded the deposit......market is weak, so the offer has dropped......you took the risk when you cancelled our original offer..."
 
raven said:
+1
I would go for a shorter time frame though, say 1 week- you don't want to be hanging around with the uncertainty for very long.
I'd also add, that you wouldn't be prepared to pay that much beyond that time, given the market. If he comes back (and in all most probability he will!!), knock 10K off as another poster suggests.

He is being extremely cheeky, an agreement was made (albeit verbal, but with a booking deposit) and he's obviously not a trustworthy character to be dealing with, - don't be a doormat, - don't stand for it.

Be prepared to walk away, - there are plenty of nice houses out there. You can be sure another nice house will come up, and you'll probably do better for your money anyway.
Click to expand...

You say he is not a trustworthy character but then suggest dropping the offer once 340k is agreed which is basically the same as the builder is doing.
I'm not knocking your advice but it can be seen that many posters see it as alright to gazunder but get all hot and bothered when the reverse happens.
 
Claire1956 said:
Get your money back and walk away quickly - if that is the type of relationship the builder and your auctioneer want to kick-off with you, you only have a road of hardship ahead - how many more items are going to be changed at the last minute.....
Click to expand...

Another misconception of the auctioneers role in the set up.
 
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