Hi there,
I went sale agreed on a house that needs considerable modernisation in Sep 2019. After much delay for various reasons that were completely outside of my control, this week the sale is about to move to contract-signing stage.
The question I have is whether and how I should go about seeking a reduction on the sale agreed price? I see that some houses in the area have dropped by 10-15k over the last number of months. I am also concerned about prospects to have construction work done on the house given current and further Covid restrictions. As the house is in a relatively sought-after location, I do not want to risk losing the property. So, in sum, my questions are:
1. Should I contact the estate agent to seek a reduction?
2. How should I word this so that I do not risk losing the property?
Any and all advice very welcome as need to make a decision on this ASAP.
Thanks in advance,
Aidan
I went sale agreed on a house that needs considerable modernisation in Sep 2019. After much delay for various reasons that were completely outside of my control, this week the sale is about to move to contract-signing stage.
The question I have is whether and how I should go about seeking a reduction on the sale agreed price? I see that some houses in the area have dropped by 10-15k over the last number of months. I am also concerned about prospects to have construction work done on the house given current and further Covid restrictions. As the house is in a relatively sought-after location, I do not want to risk losing the property. So, in sum, my questions are:
1. Should I contact the estate agent to seek a reduction?
2. How should I word this so that I do not risk losing the property?
Any and all advice very welcome as need to make a decision on this ASAP.
Thanks in advance,
Aidan