lauradryeye
Registered User
- Messages
- 6
When we met the EA last week to give him the deposit, he told us that if the engineer advises that something needs to be renovated/replaced, the vendor will knock the price down, but that we shouldn't tell the bank about it and just take the full mortgage amount.
My guess is that this is what happened.When we met the EA last week to give him the deposit, he told us that if the engineer advises that something needs to be renovated/replaced, the vendor will knock the price down, but that we shouldn't tell the bank about it and just take the full mortgage amount.
My guess is that this is what happened.
They had previously gone sale agreed on the house for say €300k.
A surveyor found that there was a serious problem which would cost €30k to fix.
The seller agreed to reduce the price by €30k
The bank lent less but the buyer was not able to afford the €30k to fix it.
So this would be the estate agent's way of making sure that the sale goes through.
My biggest concern is that there is a known and serious problem with the house. Even if your surveyor gives it the all-clear, I would be very worried that he had missed something. I think you should ask the EA for the previous surveyor's report.
And, of course, you keep the bank fully informed of what is happening. Even if you agreed with the EA's scheme, your solicitor would have to be complicit in it as well.
The bank lent less but the buyer was not able to afford the €30k to fix it.
.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?