Some advice please

[Becca]

I feel as though we've been backed in to a corner and are completely at the mercy of the vendor. If anyone can offer some words of wisdom/advice I'd really appreciate it.

Background:

Had an offer of £280k accepted on a house at the beginning of July. It needs about £15-20k of non-structural work done to it.

We recently discovered the roof needs replacing and have had 3 quotes for the work. The vendor yesterday agreed that the work needed doing but has said the max they are prepared to drop to is £272k and this was only on the condition they could knock money off the 2 bed flat they are buying. This is despite the cheapest quote coming in at £8.5k +vat.

We begrudgingly agreed but also agreed that we would like a deadline for completion and assurance that certificates for extensive re-wiring, gas and a loft conversion had been supplied to their solicitor. The estate agent said that everything was in place and they were also keen to put dates in place for completion asap.

However today the estate agent phoned to say that the lowered price had not been agreed and actually the vendor had been withholding all paperwork since the 8th August. This seemed very odd considering they had pushed to get a completion date yet they are the ones holding things up and the process has been rolling now for 2 months but they still haven't supplied what should be simple documentation.

I said how frustrated I was by this and pointed out that just yesterday he had assured me that everything was with the solicitor to which he responded like a sullen teenager and couldn't get off the phone quick enough.

I just feel like we are the ones getting the short end of the stick here despite being the buyers and have still had no assurances that these certificates actually exist. I am 7 months pregnant and one of the main reasons we offered on this property is because all involved wanted a quick turnaround, now it seems we were just sold a story as the estate agent is also dealing with the purchase up the chain.

What can we do to regain some negotiating power and get a quick resolution?

Thank you!

Becca

[Moby Jones]

Originally Posted by Becca

What can we do to regain some negotiating power and get a quick resolution?

Thank you!

Becca

Threaten to walk away. Unless the certificates emerge and the new price is agreed. You're the buyer in a buyers market.

[Jeannie D]

You must be at your wits' end, Becca, but I think Moby Jones is right.

I am guessing that the reason why the EA responded sullenly the way he did is because he is as frustrated by the vendors' behaviour as you are. However, he acts for the vendors - not for you - and so he is also stuck with the situation and with the problem of trying to coax along some not very forthcoming vendors.

Either the vendors want to sell, or they don't. Either they need the money from the house sale for their new flat, or they don't. Either the certificates exist, or they don't. These are actually pressures for them but somehow, they are transferring the worries to you and that's not right.

What is certain is that a reduced price is fair in the light of the discovery that major work is needed on the roof. What is also certain is that the certificates have to be in place - either for you or another buyer in the future - or it will cause problems in the future.

It's a gamble, Becca, but if they really want to sell this house then they have much more to lose than you. My advice is to think about a Plan B (how you would manage your life if this sale fell through) and decide if it was something you could cope with until you found somewhere else. If you have a Plan B that was manageable, this would give you the supreme confidence to proceed along the lines suggested by Moby. And in your dealings with the EA, the confidence would show in your voice. Whatever your decision, good luck.

[Becca]

Thank you both for your advice, really helpful and really what I know, in my heart of hearts, I should do. It's just so disappointing for my first venture in to purchasing a property to end so negatively.

Thank you again,

Becca

[brian]

Don't worry about it - unfortunately, problem sellers exist where they make all the right noises about selling and moving, then do nothing about it.

However, as above, it's a buyers market. Hopefully you'll find something better because of this experience if you move on.

[Dan S]

I tend to agree that it may be better for you start playing hardball. You sound like youve been very reasonable so far and deserve better. The last thing you want is to start worrying about even more than this when you have your baby!

Keep us posted on what you decide to do.

Good luck!