We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Do I continue to buy at the price we agreed before Corona?

Breezecomm
Breezecomm Posts: 21 Forumite
Second Anniversary 10 Posts
in Mortgages & endowments
I agreed on a price on a vacant property prior to corona, we are due to exchange contracts in June.
Given that we agreed on the price before corona what do I do next?
  • Ask for a discount
  • Pull out
  • Buy for the agreed price
(the house I am buying is vacant so we can exchange contracts)

Thoughts as well guys/gals..

Comments

  • ACG
    ACG Posts: 24,690 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    There is no indication as yet that house prices are dropping, everything seems to be holding with our customers. 

    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Linton
    Linton Posts: 18,293 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Hung up my suit!
    edited 1 April 2020 at 4:15PM
    Do you really want that particular house? If not, would you pull out if not given a discount? Even if that caused a 6 month delay in your plans with the added hassle of finding another house?
    If the house isn't THE one you must have and you dont care about a 6 month delay then you may as well ask for a significant discount.  If the discount is not significant is it worth messing about?
    If the house is your life's dream again dont mess about.
    An agreement  should be treated seriously.

This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.8K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.8K Work, Benefits & Business
  • 600.2K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture