What does 'Agreed Price' mean?

Chapter 12: Choosing a Conveyancer or Solicitor

"...Furthermore a city centre solicitor should understand the urgency of taking an agreed price to exchange in a highly competitive market. A point often lost on a solicitor in North Wales who may constantly tell you to relax and not worry about anything as he gazes out over the green hills contemplating what to do when he leaves at three o'clock that afternoon! ..."

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Chapter 15: How to Really Make an Offer on a Property

"... versus the other buyer and when the dust settles they all too often regret how high they went. In most cases bidding wars lead to an agreed price that then falls through in the cool light of day. - Sealed Bids - In this scenario the agent tells all offering parties to come back by a..."

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Chapter 17: The Property Buying Process in Theory

"...There are two ways to buy a property. You can purchase for cash or by borrowing. Either way you will need to put down a deposit when contracts exchange and pay the balance on completion. The deposit is normally between five and ten percent of the agreed price although it is possible to exchange with anything from zero to one hundred percent. ..."

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Chapter 18: The Balance of Power

"... the good news. Melissa offered to exchange immediately at the original agreed price of £195,000 but this was still £10,000 short of an offer from buyers who had an excellent motivation to exchange on this particular property. She lost the property and all of her expenses. ..."

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Chapter 20: What a Property Survey Really Means

"...Probably one of the biggest waste of times in the whole home buying process. It is a valuation survey followed by a lot of speculation. You are likely to find out fascinating things like screws missing from plug sockets, wood that needs replacing in windows, kitchen cabinet doors that need to be fastened. The crucial thing on this survey is the valuation. If, with all the property defects, the surveyor still concludes the property is worth the agreed price then (unless the vendor is very desperate to sell) don't try to use it for negotiation. If the survey states that 'in it's current condition the property is worth x' and x is the price agreed then there are no grounds for negotiation. ..."

"... If not, leave it. With these two questions out the way damp can be a thorny issue. Before trying to renegotiate the agreed price on something that the vendor has lived with for years, and has had no issues with, read and consider the chapter The Balance of Power. - The Roof - A..."