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house cheaper before signing mortgage deed
virgil.popa
Posts: 6 Forumite
Hello! I am new to the forum!
We are buying a new built house. We have already paid the deposit, we have a mortgage offer and all that remained now is to sign the mortgage deed. But I have just noticed the builder reduced the price with £5000 all the remaining plots. Could I possibly get the new price for the house? Thank you in advance
We are buying a new built house. We have already paid the deposit, we have a mortgage offer and all that remained now is to sign the mortgage deed. But I have just noticed the builder reduced the price with £5000 all the remaining plots. Could I possibly get the new price for the house? Thank you in advance
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Comments
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have your solicitors exchanged contracts? If not then of course you can renegotiate0
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If all that remains is for you to sign the mortgage deed then presumably you've already exchanged contracts at the higher price? In which case no, you're committed to buying at that price. But if you're not sure, ask your solicitor.0
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Thank you for your replies! I will ask the solicitors now and get back to you.0
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I do not think we have exchanged contracts as I have just received the mortgage offer that we need to sign. But we have already paid our part of the deposit. Who could I thalk to in case I can renegotiate?0
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virgil.popa wrote: »I do not think we have exchanged contracts as I have just received the mortgage offer that we need to sign. But we have already paid our part of the deposit. Who could I thalk to in case I can renegotiate?
You would need to talk to the builder you are buying the house from but first you need to find out from your solicitor if you have exchanged contracts yet.0 -
Your mortgage offer may not be valid at a different price so you might need to get it readjusted or reapply.0
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Why did they drop the price?0
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Hi again! They said they dropped the price for a quick sale. They did not exchange the contracts so I managed to get some incentives for the difference. I could have changed the plots but decided not to as that meant I would have had to start all over.
Thank you for your replies0
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