Can I lower my offer on the home I want to buy?
Q: Last month I put in an offer on a flat and it was finally accepted. I've since paid for a survey and am now having second thoughts - on reflection I think my estate agent pushed the price up. What’s the best next step? Can I lower my price or should I just walk away?”
First things first: I would cancel the survey straight away so you can get your money back. Usually you are charged a cancellation fee but do not lose the full amount.
In respect of your offer, the risk in lowering your bid would be losing out on the purchase. If you are happy to take that risk then I would seriously consider lowering your offer to the figure that you feel comfortable paying for the property.
Ben Felfeli, Managing Director, C.H. Peppiatt Estate Agents Ltd
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