cancel an offer

magali

I made an offer on a property the 25/04 and it has been accepted on the
27/04, I did no sign any paper but had to find a solicitor.The survey hasn't been arranged yet.
I am thinking about cancelling my offer, is it to late? do I have to pay anyone?

AndrewSmith

depends if you are in Scotland or England

In Scotland an offer is legally binding.
In England you can withdraw or pull out anytime prior to exchange of contracts.

Need to check with your mortgage company if the valuation has been instructed or not, this may effect whether they refund it to you. You may also have a small legal bill depending on the work the solicitor has already carried out. However they may simply tag it onto your next bill if you buy another place.

Having said that with the offer having only been accepted last Thursday it is highly unlikely that much progress on both the survey or legal work has been made with only 1 working day having passed in the meantime.

Andy