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renegotiated price what now

Anxiousof2014
Posts: 2 Newbie
We agreed to a reduction in our house sale of 1200.00 on a sale in excess of 383000. Buyer has had to refer it to their lender what happens now and will this delay exchange.? I think Nationwide is their lender
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Comments
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New / amended mortgage offer?
In my experience NW are pretty quick0 -
Has anyone else had experience of this??0
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We may have to go through a similar thing shortly. If you're not changing LTV bands and product then you should just get a new offer through pretty quickly. My broker reckons a 3 day turnaround at most.
If contracts and/or transfer forms have been signed then these will need to be amended too.0 -
Anxiousof2014 wrote: »Has anyone else had experience of this??
As mentioned, a new offer will need to be issued due to the change in sale price. Hence why your buyer will need to advise his lender.
Amendment of offer, couple of days delay and you are ready to go again.0
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