Is it too late to renegotiate after a deal has been agreed?
I am a first time buyer looking for a buy to let property. I found a property that I really like in the town centre (yield over 6%). However due to naivety on the advice of the estate agent put a bid at full asking price to take the property off the market (there was a real hard sell by the estate agent). The vendor has now accepted the offer. However I feel I offered about £5000 more than I should have by bidding at full asking (£125k). I am now wishing I had started with a lower offer and then worked up, I know its a lesson I'll learn from. Do I have any options for renegotiating after the deal has been agreed? There may be some unforeseen work in the kitchen area that would give grounds for renegotiation. I don’t want to lose this property or aggravate the vendor so they pull out on me and I haven’t instructed a solicitor as yet.
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