Get a QuoteCan I negotiate after agreeing a price?
Provided you have not exchanged contracts the answer is yes. For example, you have made an offer on a property but the survey reveals that the electrical wiring is outdated and needs to be replaced. You obtain an estimate and the cost for the work is £2,000.
You can take this cost on yourself but you may argue that you had no means of knowing the state of the property when you made your offer in good faith. Therefore you decide to ask the current owner to help meet the cost of the electrical rewiring. This request is usually submitted via an estate agent (you can help the estate agent by providing them with a copy of the Electrical Report and Estimate as this establishes how the £2,000 figure was arrived at).
It is also important to indicate to the Agent what sort of contribution you wish the owner to make. You may be happy to pay 50% and require the owner to pay the other 50%. Equally, you may already be stretching yourself financially and cannot afford to pay anything towards the electrical costs. If that is so, you should say so. At least the Seller will know that you are unlikely to be able to proceed if he refuses to make a full contribution towards the electrical costs. It must be realised that some owners will refuse to agree any contribution and his may mean that the sale falls through.
Go Back
