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Putting in an offer - then pulling out

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  • 07-03-2012 3:13pm
    #1
    Thanos
    Registered Users Posts: 1,389 ✭✭✭


    Hi Folks,
    Just wonder what the story is with pulling out of an offer. e.g.
    You see a house you like, you put in an offer, offer is accepted, you pay 10k deposit, you then get a surveyor in and he tells you some really bad news.
    At this point can you pull out AND get all your 10k back?


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    #2
    dazberry
    Registered Users Posts: 2,149 ✭✭✭dazberry


    Until you sign contracts, you (or the seller) can pull out for whatever reason, and you should get all your deposit back. Obviously you will still have to incur whatever expenses relate to your solicitor and surveyor etc.

    D.


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    #3
    pawnacide
    Closed Accounts Posts: 228 ✭✭pawnacide


    I'm presuming you haven't signed contracts .. if you have the 10k is unrefundable unless the contract was subject to conditions that allow you to get the 10k back.

    You are entitled to get the full 10k back and the agent is not allowed to deduct any admin fees or anything else. If they try , a few do, complain to their respective self governing bodies IAVI (SCS) or IPAV.


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    #4
    Thanos
    Registered Users Posts: 1,389 ✭✭✭Thanos


    Nothing signed and no fee handed over, just wanted to check before i do.
    Thanks.


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    #5
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    No issue pulling out and getting a full refund of your deposit. Sometimes if items highlighted are of a serious nature & expensive to resolve the purchaser can use that as a tool to renegotiate a lower purchase price based on the cost of the works involved. I would only recommend this if you really want the house and the issues highlighted on the survey are easily fixed. A structural survey will always read as though the property is about to fall down! I'd always suggest that before you even read the survey you ring the surveyor and ask them 2 questions 1) Is there any reason I shouldn't be going ahead with the purchase? & 2) Do you think the property is value for money?


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