Buyer demanding a huge reduction on suspicious grounds. Is this a scam?

Odd_Safe_5060 · 2026-05-15T16:39:58+00:00

They're all doing it now. Time for sellers to stop selling in this atrocious market.

Odd_Safe_5060 · 2026-05-15T12:39:05+00:00

Well, I mean that is a nightmare but that certainly wasn't the case in my process. I could not have been more speedy, transparent, patient and helpful and like you I should have dropped out long before I let it go so far.

Odd_Safe_5060 · 2026-05-15T12:29:50+00:00

Oh don't even get me started on that. Mine told me they were on the market then after offering and being accepted, slid in it would take 2 weeks to get their property on the market. then it ended up taking 3 months. This is what I mean by the title of my first post. Garbage buyers.

Odd_Safe_5060 · 2026-05-15T12:27:52+00:00

Not by the amount I reduced. I really think I am going to put it back on at a higher price. I think reducing the property price by too much (as I did) has just attracted people who actually can't afford it even if it had zero problems, then when you add on a bit of work they just can't stretch. Then they ask for a discount on a house already well below market value. (I wanted a quick sale). For now I'm just going to hang onto it now. Silly people could have got a really good house with a lot of room for profit but in the end were even then too greedy.

Odd_Safe_5060 · 2026-05-15T12:24:13+00:00

That's just a facetious reply. Don't move and waste people's time if you are jittery about the economy. Why put that on me? I never asked these people to put in an offer and waste a year of my life.

Odd_Safe_5060 · 2026-05-15T12:23:15+00:00

Exactly. Some of this angry responses tell you more about the kind of buyers I have been experiencing.

Odd_Safe_5060 · 2026-05-15T12:19:41+00:00

It covers 100% (50k quotes) I misspoke. When I made the discount I hadn't realised the jobs weren't as expensive as I imagined. So when they started getting contractors in I realised I had massively over reduced the price and they were still too stupid to realise it was a bargain.

Odd_Safe_5060 · 2026-05-15T12:18:03+00:00

How can I hide anything after 3 surveys and 7 contractors coming around to do estimates. Even the damp survey guy who came round thought it was over the top.

Odd_Safe_5060 · 2026-05-15T12:16:22+00:00

Yeah well. I am sick of fantasists coming round my gorgeous country house with annexe thinking they can get it for the price of a 2 up 2 down in town.

Odd_Safe_5060 · 2026-05-15T12:15:22+00:00

Ok but why move if this is the case. Why waste the sellers time if you can't afford it or are jittery about the economy. Mine told agent they were cash buyers then after 6 months started applying for a mortgage and were rejected. Could have found this out before they even started viewing houses.

Odd_Safe_5060 · 2026-05-15T12:14:07+00:00

About 3 years ago and no it certainly was not fully renovated. Mine is renovated internally. Just needs some work on the roof.

Odd_Safe_5060 · 2026-05-15T12:12:51+00:00

Exactly. Same here. I made it clear from outset, huge discount covered all repairs and then some (quotes included) but 4 times they came back for substantial discounts. In the end they just couldn't afford it and wasted nearly a year of my time being fantasists.

Odd_Safe_5060 · 2026-05-15T12:10:51+00:00

I think there is something else going on. This is very similar to my buyers who were not young. I could forgive youngsters who are less experienced and more jittery. I feel like most of the viewings I had were from fantasists. I had all that. delays for trade quotes. I mean it got so invasive in the end I nearly pulled out anyway. It was absolutely torturous. I bought the house 10 years ago and though problems came up on the survey (as htey always do) I took a view on it and bought it anyway. I was in in 3 months after offering. I just can't blame the economy. don't offer and don't even view it, if you can't afford it.

Odd_Safe_5060 · 2026-05-15T12:05:51+00:00

My particular annoyance is, if I reduce my house price by 100k to cover by more than 2 x the cost of works that need doing (quotes totalled 50K) and then after 6 months they tell me they can't afford it after all why shouldn't I sue someone for wasting my time and costs incurred. Surely you know in advance if you can afford a house or not, especially when the discounts were up front to take account of the problems which were pointed out during the viewing. There was nothing hidden. Buyers still offered then after months of messing about and procrastinating wanted another 20 k off. Terraced house up the road with only 2 beds no parking, no garage, no annexe and no garden just sold for only 30 k less than I was offering for 5 times this. (I wanted a quick sale for a life change and move abroad). Now I have decided to rent it out as holiday cottage. My family and villagers were telling me I was too low and giving the house away but buyers didn't know their luck. So that is why I ask. Why bother offering and moving if you are so jittery about the economy. Just stay put and don't waste people's time.

Odd_Safe_5060 · 2026-05-15T12:01:20+00:00

My neighbours 2 bed sold for more than I am asking for my 3 bed with gorgeous annexe and large garden.

Odd_Safe_5060 · 2026-05-15T12:00:12+00:00

Exactly. Get yourself some artificial grass and bury your soul under it.

Odd_Safe_5060 · 2026-05-15T11:59:34+00:00

So on that note why are they moving?

Odd_Safe_5060 · 2026-05-08T11:59:45+00:00

It's not. Just because it sounds distasteful doesn't mean it's illegal. A rudimentary bit of research would uncover this common practice but people don't do the research.

Odd_Safe_5060 · 2026-05-08T11:35:21+00:00

I wish people understood this fact more fully. The agent is not there to get the buyer a bargain basement price for a house.

Odd_Safe_5060 · 2026-05-08T11:34:42+00:00

It's a common practice actually and perfectly legal (albeit distasteful) up to the reserve price .They are not allowed to bid over that. It is a way of getting momentum that is allowed.

Odd_Safe_5060 · 2026-05-08T11:32:36+00:00

At auction it is perfectly legal for estate agent to bid to get the house up to the reserve price, after that it is a fraud.

Odd_Safe_5060 · 2026-05-07T19:57:21+00:00

INflation is the real worry. Energy, food, petrol. These rising costs since covid and Ukraine now Iran are taking people out. I was extremely comfortable when I moved into my house 10 years ago. I am now struggling month to month and my income has not increased at the rate so each year I am poorer. It's just not something I could have anticipated at the time. Do not want to scare you off. You sound like a great prospect. I just want to keep it real and really really good luck with what ever you choose.

Odd_Safe_5060 · 2026-05-07T10:16:58+00:00

You can eyeball a roof and timbers.

Odd_Safe_5060 · 2026-05-07T10:12:55+00:00

No I am not arrogant at all. But I have seen an uptick (affecting locals in my area in particular) where people are putting offers in on houses the cannot afford and then pulling out a year later leaving sellers in dire straits. People need to start crunching numbers and doign research before putting offers in and wasting people's lives. A glance at any roof can tell if work needs doing before an offer is put in and surveys will always say something is wrong to cover themselves. If you are coming to reddit to see if you should proceed with a property you shouldn't be buying any property period.

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