A house survey can often find problems that may reveal a lot about the value of a property. But how do you decide if you want to change your initial offer after receiving yours, and how do you negotiate?
Some of the common problems found in a house survey are:
The amount you ask for off the price will depend on what problems are found in the survey. On average, it can be as much as 5%-10% of the original price. Talking to your surveyor can help you understand how much you should be reducing your offer by.
Even after your offer is accepted you can negotiate on the price if problems are found during a building survey. At this point your offer is not legally binding. You are able to change your offer until the contracts are exchanged.
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