eastlondonseagull
Well-known member
Help! The fuckers who are buying my house have sprung an expected 'surprise' on us today, a week before exchange of contracts, saying they're having difficulty raising the deposit needed to buy our house. All this, six weeks after having their offer of £165,500 accepted.
They now want us to drop the price to £160,000. They're buy-to-let buyers and claim they've had to raise their deposit using equity on their existing properties - because of the credit crunch, their houses aren't worth as much as they'd thought, hence the £5,500 short-fall. But it doesn't half seem convenient. Surely they should've known about this weeks ago?!
They said they had a 50% deposit, but have failed to raise all that was needed - so why not just raise a slightly smaller deposit and then have a slightly larger mortgage?! It's not going to cost them much extra!!
Uncle S warned about gazundering and we had prepared ourselves, but it's still been an almighty shock.
We've already dropped the price from £200K to get the sale - so an extra £5.5K takes the total drop to 20%! We can't afford to drop it that much! What do we do?! HELP!
.
They now want us to drop the price to £160,000. They're buy-to-let buyers and claim they've had to raise their deposit using equity on their existing properties - because of the credit crunch, their houses aren't worth as much as they'd thought, hence the £5,500 short-fall. But it doesn't half seem convenient. Surely they should've known about this weeks ago?!
They said they had a 50% deposit, but have failed to raise all that was needed - so why not just raise a slightly smaller deposit and then have a slightly larger mortgage?! It's not going to cost them much extra!!
Uncle S warned about gazundering and we had prepared ourselves, but it's still been an almighty shock.
We've already dropped the price from £200K to get the sale - so an extra £5.5K takes the total drop to 20%! We can't afford to drop it that much! What do we do?! HELP!
.