Seller says 'no renegotiation after survey'

GentleGiant_2

Buying a property in Sussex.

We have offered a price, which they have accepted conditionally and have stated 'no renegotiation after survey'.

I assume there is nothing in law to make us pay for the house even if the survey comes back as problematic.

We realise we would loose the cost of the survey, but do not wish to incur further costs.

Thanks.

jbainbridge

Get only the survey done first - no searches etc.

Are you prepared to walk away?

GentleGiant_2

Yes, would be prepared to walk away.

But at the same time, do not want to lose the option to purchase if the survey is fine.

Not too sure how to reply to the agent.

Happy to get the survey done after we agree to pay the sum asked for, if it does not bind us in any way.

Any wording that we should use?

El_Torro

They can say "no renegotiation after survey" all they like. It's up to you whether you want to renegotiate or not.

I_have_spoken

I assume there is nothing in law to make us pay for the house even if the survey comes back as problematic.

Nothing at all, you can walk away at any point up to the day of exchange.

But in the current market in Sussex, I doubt you'd have much luck gazundering the seller based on anything 'found' in a survey.

frisbeej

Sort of suggests they expect the survey to turn something up.

GentleGiant_2

frisbeej wrote: »

Sort of suggests they expect the survey to turn something up.

That is my thinking!!

G_M

Until you Exchange contracts neither side is commited, so yes, you can walk away if the survey turns up something you are unhappy about.

Or, at that point, you can ignore their 'no negotiation' statement, and say you are now only willing to pay £X (rather than the original £Y) because the property needs a new roof or whatever, or you will walk away.

They may stick to their guns and the deal will be off, or they may decide to negotiate after all.

Better_Days

Have you asked the EA if any previous sales have fallen through and if so why?

GentleGiant_2

Thanks all.

No can't say I have asked the EA that. Problem is that most agents do not divulge any information.

What is the agent / seller wishes for me to agree to no-renegotiation? Can he do that? I assume that still does not bind me to anything, even if I agree to that is writing.

Problem is, I assume the seller will not agree unless I say 'okay to no renegotiation'.

Thanks all.

Better_Days

Actually OP, IIRC EA's do have to disclose if a sale has fallen through, and the reason, if you ask directly.

I expect someone will be along with more info on this point, but I recall the point being discussed on the forum previously.

Have you got Property Bee on your RM so you can see how long the property has been marketed for and if it has been marked as SSTC and then subsequently remarketed?