Would you get a second survey

LSLDN · 19 January 2019 at 10:19AM

FTB here, no chain.
Had an offer accepted back at the end of Oct.
The property was listed at £415k initially but they very quickly dropped to £400k as not much interest and no offers.
They accepted £390k however the survey & valuation by the lender downvalued to £380k due to some dry rot ( bad I know, but limited to one area so not a major problem if fixed promptly)
After weeks of silence they agreed to proceed at £380k but didn’t actually do any of their paperwork etc.

Now, nearly 3 months later they have rejected the offer and want to go back on the market at £400k. I don’t want to pay more than £385k in this market and it’s s 90% mortgage so I’d have to make up any shortfall myself.
I’ve paid about £650 in survey fees / mortgage arrangement but not paid for searches.

The EA is advising me to get another survey, possibly with another lender to see if I can borrow more. However I’m not inclined to shell out more money (I know there are some lenders who offer free surveysbut they tend to offer worse rates according to my mortgage broker).

I think I have to let this one go, and let them try their luck in the stagnating market round here. Would anyone else get another survey? My mortgage broker thinks they are being cheeky f**kers of the highest order.

I’m surprised they would turn down a sure thing for a gamble especially with Brexit uncertainty but there we are!

Bossypants · 19 January 2019 at 12:24PM

The fact that they changed their minds months after accepting your revised offer suggests to me that they are not to be trusted. I would look elsewhere in your position, who knows what other nonsense they may pull down the line.