You accept a cash offer. Weeks pass, you’ve told the family, maybe booked removals. Then, a few days before exchange, the buyer comes back with a lower figure, often blaming a survey, a “valuation” or a change in the market.
This is sometimes called price chipping, and it’s one of the most common complaints we hear from sellers who’ve tried a quick sale before coming to us. Here’s why it happens, and how to avoid it.
Why it happens
The offer was never meant to stick
Some buyers, particularly larger cash buying companies, make an attractive offer to win your property, knowing they can renegotiate later. By the time the new figure arrives, you’ve lost weeks, turned other buyers away, and may be up against a deadline. Walking away feels impossible.
The buyer is really a middleman
Some “buyers” don’t intend to buy at all. They secure your property at one price, then try to sell it on to a real investor at a higher one. If they can’t find someone at the margin they want, the pressure comes back onto your price.
A genuine survey problem
Sometimes a survey really does find something serious: subsidence, significant damp, a failing roof, or an issue that means a lender won’t lend. In that case a renegotiation can be fair. The key is evidence. You should be shown the survey findings, not just told a new number.
The warning signs
- An offer that’s much higher than anyone else’s. If it looks too good, ask why.
- Vague answers about the process. Who is actually buying? Who’s paying for the survey? When will it happen?
- No proof of funds. A real cash buyer can show they have the money.
- Pressure to sign quickly, or to agree to a long exclusivity period.
- Fees you pay if you pull out, but none if they do.
Questions to ask before you accept
- Are you buying this property yourself, with your own funds?
- Can you show proof of funds?
- What could cause you to change your offer?
- If a survey finds something, will you show me the report?
- What’s my exact net figure after all fees?
- How long will it really take, and what’s the longest it could take?
A buyer who’s genuinely committed won’t mind any of these questions.
How we handle it at Heritage
We only introduce properties to private cash buyers and investors we know, and we don’t work with buyers who chip prices. Before you agree to anything, you’ll know your exact net figure. The only time a price would change is if a survey finds something that genuinely affects the value or a lender’s decision, and if that ever happens, we’ll show you the evidence.
Our team also chases the solicitors every step of the way, because a sale that drags on is where last-minute surprises tend to creep in.
If you’ve had an offer reduced, or you’re worried it might be, get in touch. We’ll give you an honest view of your options, with no obligation.