Re-negotiatons after survey

tonydee

Hi,

Our buyers have asked us to contribute to the costs of rectifying a few problems with our property, which were outlined by their survey. We have agreed in principle but was wondering what kind of effect this has on all the paperwork side of things?

Can it be delayed by much as we're aiming for late Nov/ early Dec for completion.

Many thanks

HugoSP

If you have a verbal agreement then the only thing that will change is the purchase price, which will need to be adjusted to take into account your contribution. This is assuming you are going to use a price reduction to effect a contribution to them.

As I understand both solicitors need to be informed by their respective clients and the contracts are amended to reflect the new price.

It shouldn't hold up the sale if both parties' solicitors are organised. We have done this a couple of times when we bought.