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Should I withdraw offer

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Scotbot
Scotbot Posts: 1,448 Forumite
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in House buying, renting & selling
Have put offer in on a house. Do not love it but not much on market. It was overpriced at 465k then dropped to 450k. Offer of 425k accepted. Since then survey has come back indicating 7k of work needed on roof. Plus the vendor said it had been rewired but this was some years ago and no certificate. Then a new entry in the land registry shows a house up the road sold for only 15k more and it has an extra bathroom and an extra reception room. So think I have been had by the EA and offered too much. It is in a good location. What should I do? Have already pulled out on another purchase after bad survey. Really don't know what to do.
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  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
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    Firstly, you've not been had by anyone. What's the wording of the roof condition? Surveys usually happily say things need replaced because they're old even if they don't. If it's been years since a rewire I wouldn't be worried about lack of a certificate.

    If you think you've offered too much that's up to you...stick, lower the offer again or pull out.
  • PField
    PField Posts: 89 Forumite
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    Did that other house need £50k spending on it?
    Doubt a surveyor would be qualified to give an estimate of repair cost to a roof or indeed if it was actually needed? Does it leak. Bottom line pay what you feel it's worth to you.
  • steampowered
    steampowered Posts: 6,176 Forumite
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    Whether you offered too much in the past no longer matters.

    What matters are the options available to you going forwards.

    Do you still want to buy this property for £425k or do you want to keep searching? Is the property with its roof problem worth £425k to you?

    If you are no longer prepared to pay £425k for this property in view of what else is available on the market and the survey results, then you should put forward a revised offer to the vendor.

    If the vendor does not accept your revised offer, then you should be prepared to walk.
  • ReadingTim
    ReadingTim Posts: 3,970 Forumite
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    If the seller sold to someone else at £425k would you be gutted?

    If the seller sold to someone else at £418k would you be gutted?

    The answers to those should help you to decide whether to keep your offer as it is, attempt to negotiate the price down a little, or walk away. Your money, your choice.
  • Scotbot
    Scotbot Posts: 1,448 Forumite
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    edited 26 September 2017 at 3:59PM
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    No question there is a roof issue, you can see daylight in the loft. My gut tells me 425 is too much but not by a lot, 415 to 420 about right. I guess I need to stop being a wuss and negotiate. I would happily pay 415 but I wouldn't be gutted if I lost it.

    Reading the replies I suspect this is a gender thing, it looks like sdome of the posters are guys snd I am a soft hearted female worried about upsetting people.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    Scotbot wrote: »
    My gut tells me 425 is too much but not by a lot, 415 to 420 about right.
    So, a difference of 1.1%? Not sure I'd lose sleep over that either way.
  • ceh209
    ceh209 Posts: 876 Forumite
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    Scotbot wrote: »
    No question there is a roof issue, you can see daylight in the loft. My gut tells me 425 is too much but not by a lot, 415 to 420 about right. I guess I need to stop being a wuss and negotiate. I would happily pay 415 but I wouldn't be gutted if I lost it.

    Reading the replies I suspect this is a gender thing, it looks like sdome of the posters are guys snd I am a soft hearted female worried about upsetting people.



    Trouble is, if the issue was obvious upon viewing (not clear if it was or not as it was in the loft), the vendor will think you should have taken that into account when making your offer which was below asking price.


    Has the mortgage valuation valued it lower, or recommended any retention for repairs?
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
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    Scotbot wrote: »
    Reading the replies I suspect this is a gender thing, it looks like sdome of the posters are guys snd I am a soft hearted female worried about upsetting people.

    No I really don't think it's a gender thing. We're all people...some soft and polite, some to the point and less considerate. Not men/women. I know a few women that would be offended at your comment!
  • Fosterdog
    Fosterdog Posts: 4,948 Forumite
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    Scotbot wrote: »
    Reading the replies I suspect this is a gender thing, it looks like sdome of the posters are guys snd I am a soft hearted female worried about upsetting people.

    You've posted under an anonymous username, how is anyone supposed to know your gender, until this last post you've given no indication either way. You also don't know the gender of the people who have responded to you. Being soft hearted and worried about upsetting people is not just a female attribute.

    Basically you are making a huge purchase and nerves and second guessing yourself is normal. If you want to offer less try to negotiate but be prepared for your vendor to either say no or pull out.
  • Carrot007
    Carrot007 Posts: 4,534 Forumite
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    Scotbot wrote: »
    No question there is a roof issue, you can see daylight in the loft.

    Not necessarily a problem if it's an old slate roof with no underlay.

    My old house was like that and there were no leaks. And as it's not the norm these days issues were raised in the report. Was fine.
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