UK Landlord Forum / Life

I read in the times today (I only bought it for the CD)   about that situation whereby the purchaser of a property, threatens to pull out just before exchange of contracts if the vendor doesnt reduce the price. I know it as Gazzundering, in the paper they've given it the new name of "bid and chip". A very nasty practice, and once again there is nothing to protect the vendor. It reminded me of something:
A few months ago I had a call from a woman who's house I was trying to sell, but was sold via another agent. She asked me to remarket her home once again.
As the story goes, the purchaser that she had, was buying her house for £640,000. After two months of conveyancing, on the day of exchange, the purchaser through his solicitor let the vendor know that he would not exchange unless she reduced her price to £600,000. Now this Girl was not short of a penny or two, and in fact the property being sold was a second property she owned and had been sitting empty for ages. So her reaction to the revised offer was this: "Tell them to go F*%* themselves and now the property is no longer for sale to them".
The purchaser backtracked and said ok we'll exchange at the original price. But this woman was not having any of it. the message she passed onto the purchaser was " go f%?! yourself and die. and if you want to buy the property now, the 40k you tried to reduce by, will now be added onto the original price making it £680,000. Next time think twice before you try it on!"
The purchaser pleaded but she was not changing her mind.
She was a woman of principle and she said what she did was to teach that bastard a lesson. As she said, not everyone is in fortunate position like her, to be able to call his bluff. Now he'd got his just deserts.
The funny thing is, I resold her property to another buyer for £700,000 secured with a 10k non refundable deposit lodged with the solicitor.
Happy day's for all except one. 

That's a great story.

What a cheeky git, though. Attempting to reduce the price like that is such a cheap shot.

I think I might write an article on "Gazzundering"

Thanks for this, Raven. You've inspired me

That is pretty shocking. I'm very glad she didn't let him get away with it.

The 10K non-refundable deposit sounds like a very good idea.

A couple put in an offer on my late gran's property a few months ago at £20K below the asking price. They said they were cash buyers, so we accepted it. Then, bizarrely, they became not-cash buyers ... but still wanted to leave the offer in place. From time to time they still ring up the agents to say they are still interested (although aren't in a position to buy/don't have time to do another viewing right now).

Pride is something myself and my cousins can't really afford right now, but I am hoping so much that we flog that place to someone else just so those ba$tards can't have it. If it was just me selling it, and I was in a stronger financial position, I'd be advising the agent that no further offers from them will be considered - to them, it is off the market.

Folks need to learn not to make me angry.

V

Quote from: vwilson on September 23, 2007, 08:37:39 AM


Folks need to learn not to make me angry.

V

I like this side of you, V

I like the front side of her, from her pics anyway/

Forgot to thank you for them pfag, thx bud



Badger

Anything for you, homie. You know that!

WHAT PICS ? ? ? I wanna see!

God, married men are the worst!

You will understand one day my son.
Hey we are just as good if not better at resourcing than the singleton don't you know



Badger

Who says i'm single?

I've got hoes in every area code 

Quote from: propertyfag on October 04, 2007, 08:16:11 AM
Who says i'm single?

I've got hoes in every area code 

I always thought with my considerable wealth of knowledge that Gazzundering was done by three agreeable naked adults that requires a bowl of hot water a flannel and some soap, a straw a plastic beaker and an extra strong mint.

Badger


lol
my life is like a freakin movie i tell ya lol

hey Badger either youve got a great imagination or thats whats really going on and house prices are booming. How comes the estate agent never gets invited?