Offer on house without option to change price

badgerbbc

I am a buyer. I put an offer down on a house, and the seller has said that they will accept the offer as long as I commit not to change the offer (price) at any point in the future. Presumably they are scared of guzundering.
Does this have any legal basis at all? It seems odd to me.
Thanks
B

Thrugelmir

The survey may turn up any number of "horrors".

So your should add a proviso to your offer to cover this.

betmunch

If they are worried about gazundering then fine, go along with it, but as before, make the offer subject to survey. I would also go for the full building survey just in case theres something they're trying to hide.

ACG

It doesnt have a legal basis no. But if you agree and then change your offer they might have a tantrum and say it doesnt matter what you offer they dont want you to purchase....ive known it to be done.

It was a builder and a little old irish lady. He owned every property on the street bar 1, hers was up for sale right at the last minute he reduced his offer down so she refused to sell to him.

But as Thrugelmir says, if the valuation comes back lower than expected you may have no option but to reduce your offer. Atleast you will have a reason for reducing your offer if that does happen.

poppy10_2

badgerbbc wrote: »

I put an offer down on a house, and the seller has said that they will accept the offer as long as I commit not to change the offer (price) at any point in the future.

Pretty pointless 'commitment', there's nothing the vendor could do about it if you decided to go back on your word and drop the offer price.

badgerbbc

Thanks for the advice, that's really helpful. I will enquire why they have asked for this. Sounds like it is legally irrelevant but possibly a warning about what the survey might reveal.
B

jaysb

as the above posts have said its pretty silly what they have said - as you can pull out at any time until contracts are exchanged, so if yo have a survey and it values or finds things that need attention are they expecting no negotiation.

My concern would be is are you paying over the odds vs market value ?

Perhaps the vendor is just niaive