Dirty House Buying Tricks

[Cinders]

My friend was just about to sell her house for £270k on the outskirts of Heaton when the buyer said (on the morning of completion) that unless you drop the price by £15k Im pulling out. All of her furniture was moved out the job lot! She literally had no choice as she couldnt really afford the mortgage and was downsizing to a smaller house £100k cheaper-- Id be fuming too!

[I Always Split Hairs]

Well i reckon she should count her lucky stars - selling her house in this climate! The buyer could have easily pulled out completely andwaited till they prices drop further. It's a bit different from the gazumping that went on only a few years ago. Lets put it another way - if another buyer came in and offered your friend £15k more would your friend tell the first bidder to go away - I think so!

[shaun22]

It would be a good idea to have a letter of acceptance signed prior to this, agreeing the sum. Even if it is something you yourself compile it would still stand up in court as a contract. Even verbal contracts can be used in a case, only they come with no empirical evidence, unless recorded (then you bring permissions into play).

Something in writing however would only benefit you if something like this were to happen. Get the buyer to sign it however. If they are reluctant, explain your situation and they may agree. If not, there is a rabbit off and they are wasting your time or have something to hide.

It is a sneaky trick like - I don't like it when people go back on their word.

[bensham-ben]

Im not being funny but Id hate it if we had the same laws as there are in scotland, in that once you've agrred youve agreed. keep them as they are. Imagine youve put an offerin for a nice house in jesmond and then you drive past the house a month later to find some scrubbers next door (who rent the place) making a tip outside and being louty. The seller didnt disclose the fact he lived next door to newcastle's biggist buch of charvers! Should the buyer have a right to pull out if thiis or something else wasnt mentioned?

Come on Shaun22 Its a bit brutalist making people stuck to life making decisions like buying a house, dont you think?:)

[shaun22]

I agree with you, yes. I am no lawyer so the terms and conditions would need to be looked at. I was perhaps a little too black and white.

You choose to buy the house in the state in which you view it, but the neighbours are a key issue, which I did not consider in my previous post.

You have made a good point. If the seller does not admit the neighbours are a nightmare then you have a valid reason to pull out. This should be a primary question in viewing the property.

I meant if you say you are going to buy it, then the price should be agreed. If you still want the place, don't last minute drop the price just so you can make a quick couple of grand because you have the seller moving out and grasped by the short and curlies. A bit of morality and humanity is in order.

It is a difficult problem to solve. I suppose it would be wise to view the place formally and then drive past a few times whilst deciding so that you can gauge car parking situations, traffic passing, neighbours, general noise in the street etc. Unfortunately, you aren't going to know about noise transfer through walls until you move in.