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I did this at exchange. Our solicitor wrote an adjustment agreement that stated that we would transfer the deposit less £X in full settlement of the contract, with the sale price and mortgage unaffected.
It can also be done in a way that reduces the mortgage, which takes a lot longer as the bank need make a new mortgage offer, but is cheaper as no interest is then due on £X.
richardaldred-
@umop3pisdn
thanks both, this is what i think we'll try and go down i think. a contribution from vendor + £1000 a year savings in service charges compared to other places we were looking at and we hope we'll be most of the way to the bill by 2023
rogan
tldr; our vendor told us there was no major works 'to her knowledge' this is untrue and i dont know why she thought we wouldnt find out (or she is genuinely an idiot)
scheduled in 2023 so no actual plan or costings have been laid out yet.
we want 15-20 off asking price. but we'd also take 10k in cash if that was an option, we've seen the option of retainers but our solicitor doesnt sound encouraging on that due to it being so far away.
Is there any process for just getting 'cashback' almost? our mortgage and the sale price remain unchanged, but the vendor has to give us £X on completion?