Best time to get engineers report

[Roro999]

If interested in buying an old house is it best to put in an offer and if accepted to then get an engineers report or should one get a report before bidding.

 

[skrooge]

Wait until you're sale agreed. No point forking out money on a report only to get out bid.

 

[Roro999]

Wait until you're sale agreed. No point forking out money on a report only to get out bid.

At sale agreed a deposit would be required before getting the engineers report. So would there be an issue in getting back the deposit if one pulled out of the deal i . e saying there was too much to be done. It's an old cottage after all that needs renovation and I'm thinking it would have to fail on septic tank or roof in order to get the deposit back.

 

[RedOnion]

So would there be an issue in getting back the deposit if one pulled out

If buying private treaty, there's no deal until contracts are signed, so contract is fully refundable.

You could however play it a different way, especially if you're a cash buyer, which might justify getting an engineer early. Price in the work that needs to be done; reroofing and septic tank. Make your offer acknowledging that work is needed, and stress that you won't be pulling out of purchase for those reasons. Don't get caught up in a bidding g war, if other bidders need mortgage, they'll be unlikely to get it.
but if you're outbid, the money on engineer is wasted.