Hi,
I am selling and have agreed a price with our buyers 2000 under the asking price, the property is worth the asking price of 120,000 and houses are going like hot cakes in our road (3 went up and sold over last two weeks). Ours has been commented by estate agents as being up at the top end of the condition of the houses in road so definately worth the asking price. (ie double glazing / central heating / new roof all within 4 years old)
However for a quick sale we accepted 118,000. The surveys came back and 1100 worth of work needs doing, the buyers have (via solicitors) asked for us to reduce the cost of the house by this amount to cover the costs.
By accepting 2000 under the price have I put myself in a difficult position regarding the negotiations over the work that needs doing? Or should I expect to have to reduce the cost further?
With hindsight I could have held out for the asking price and then simply reduce the price to pay for the work (but then we'd all like the benefit of hindsight!)
Thanks for any advice Dave.