Putting an offer in on a house, with vendor paying fees?

Mike10

Is this possible and legal?

Looking at putting an offer in on a house, but with the vendor paying our legal fees and survey?

DVardysShadow

Why?

I think as vendor, I would rather prefer a lower offer and see you take on your own costs. Who will pay these fees if you don't like the outcome of the survey and withdraw?

Mike10

Or is it possible to put an offer in with cash back on completion?

timmyt

why? makes no sense.

Mike10

If a house was on the market for £110,000 and after rounds of negotiating we find the seller would accept £105,000, which is £5,000 above what we originally wanted to offer (£100,000). I was thinking if we could offer the full £110,000, with £5,000 back on completion, it would then give us the £5,000 to furnish the house. If i just offer the £105,000, we would be short on money to furnish the house.

I'm not even sure if that makes sense so my apologies, but I think i know what i mean:rotfl:

tabskitten

No it doesn't make sense- but i think i know what you mean?!?
And i think you need to ask the vendor!

Emmzi

I think you're trying to get a miortgage for say £110k, and £5k in your hand to pay for stuff.

You can ask, but the bank valuation will come out where it does, so it may not work even if the vendor agrees.

housesitter

It may well be seen as a gifted deposit type of payback.
Bit like the vendor paying for the stamp duty (before the increase for FTB's).

It deosn't make sense for any other reason than you not having enough money to pay for the fees and surveys. It suggests that you need to save a bit more money as you must be stretching yourself for the sake of a £1000 or so.

timmyt

if you get any money back from seller then this must be disclosed to lender.