Consider renegotiating or retracting your offer based on the survey results & quotes (optional)
Updated: 28th Aug, 2024
Author: Charlotte Burton
If your survey came back with recommendations for repair work you should consider renegotiating your offer based on some quotes from builders.
You can reduce your offer by the entire repair quote, or split the bill between yourself & the seller. You can also ask the seller to make the repairs, and get your conveyancer to put this as a condition of the contract. Be prepared that the seller may push back.
You can also retract your offer completely if the survey results were very bad, or the seller won’t accept your lower offer. Note that if you got home buyer’s insurance, this won’t cover any costs you’ve incurred up till this point in this scenario.