Negotiating a price reduction after survey

toucanspeed

I would suggest that the 'extra' items picked up by the survey need resolving sometime. Suggest a price reduction in lieu of it. If they say no, then you've lost nothing, they might even say yes.

lapat

my house that i recentley bought come up with an asbestos problem in the ceiling and wall artex.and the tank in the cupboard.the tank i could get rid of easiley by removing a bit of plasterboard and reboarding it

the artex was cheap for me to get a plasterer in and reskim all the walls and ceilings

your tank is made from asbestos cement it should really not be over excesive to remove as the cement is designed to keep the asbestos together your garage roof will cost you far more

as for the ducts i take it there brick/mortar encased if so as longa s you keep them damp when knocking round them and you dont litterally smash them up you should get them out easiley

your cosmetic stuff i wouldnt go to the vendor for that but if you have major concerns regarding the cost of removal of the asbestos DO get quotes and DO ask for a reduction.at worst they will say know and you know what extra cost oyu will be bearing.you never know they may at least be prepared to meet you half way

p.s most of oyur water pipes that supply your everyday drinking water to your taps in your house are made out of asbestos cement and they have been there for 40 years plus

good luck and let us know how you get on

clairehi

bob2 wrote:

=

Should we simply state that we wish to reduce our offer by X pounds? Or suggest that the seller reduces the sale price and see what they offer?

What is the best way to approach this?

ok so assuming that you do wish to negotiate on these points (which from your first post did not seem that significant)

I would suggest you share the survey findings with the vendor and ask them whether they would rather have the issues put right themselves, or pay you the cost of the works (on the basis of three quotes). and be prepared to split cost with them 50:50.


I still think you may be on a sticky wicket here. if they feel bullish, they may decide to put the house back on the market - as it is now spring, they may feel optimistic about getting other offers. thats the risk you take. personally if I liked the house that much I wouldnt die in the ditch over £1K here or there.

bob2

Thanks again for all the advice.

Actually the asbestos ducts are not brick/mortar encased - they are just hanging exposed in the roof space protected only by some chicken-wire cages.

Anyway, ultimately what makes our position weak is that we don't want to back out of the purchase over a 1-2K issue - and if the seller realises this then we're unlikely to get any sort of reduction.

JennyW_2

Anyway, ultimately what makes our position weak is that we don't want to back out of the purchase over a 1-2K issue - and if the seller realises this then we're unlikely to get any sort of reduction.

I think it's the same for both the vendor and the buyer. I'm sure they don't want to lose you as much as you don't want to lose the house. I've just had the survey carried out on my house and if there are any cosmetic or minor issues raised, I would be reluctant to reduce my price, especially as I've been living their problem free for 5 years. That's the trouble with surveys, people have been living in their houses for years and years, then some bloke comes along with a clipboard highlighing heaps of "potential" problems putting the fear of god in some buyers.

If you feel that strongly then perhaps you could sound it out with your EA and try and get some feedback there. Of course the worse they can say is no and you could risk the possibility of them putting the house back on the market (as clairehi) mentioned, or you may find they're happy to come to a compromise.

clairehi

JennyW wrote:

That's the trouble with surveys, people have been living in their houses for years and years, then some bloke comes along with a clipboard highlighing heaps of "potential" problems putting the fear of god in some buyers.

I

exactly. our buyer wanted a £1K retention because the environmental search said there may be a possibility of radon in the area and this should be investigated.

as you can imagine, we told him to take a running jump.