Renegotiating after survey - Help Please!!!

chickmug

ILW wrote: »

In this case though, it appears the seller has said "no negotiation" and the buyer seems to be under the impression that the seller is under some sort of obligation to negotiate. I could be reading it wrong though.

I am no longer specifically referring to the OP just moved on to generalisations.

Hailstorm

I think the past few posts have hit the nail on the head regarding the negotiating process.

If a survey comes back stating some work is required the buyer can do one of three things.

1) Decide they will have the work done themselves once they have moved in and not renegotiate the price.
2) Ask the seller to pay the whole cost.
3) Ask the seller to pay some of the cost.

If 2 or 3 happen then the seller has three options.

1) Accept the revised offer.
2) Refuse the revised offer.
3) Make a counter offer where they will pay something but a lower amount then asked.

If a counter offer is made then the buyer has the same three options. Both the buyer and seller are entitled to ask for whatever they want in negotiations, neither though are entitled to get it.

I pointed it out when I strongly disagreed with what Chickmug was saying so I suppose it is only fair if I do the same when he makes some very good points. His first is that the other part of negotiating is how much the buyer or seller needs to buy or sell. How put out would they be if things fell apart? Do either of them need to move or can they sit tight if they do not get what they want?

The second good point is stating offers are subject to survey and contract when making them. Also there is nothing stopping you from attaching other conditions to offers so if you spot something yourself when viewing a property, you can even start negotiating who takes responsibility for it in your initial offer.

chickmug

Hailstorm wrote: »

The second good point is stating offers are subject to survey and contract when making them. Also there is nothing stopping you from attaching other conditions to offers so if you spot something yourself when viewing a property, you can even start negotiating who takes responsibility for it in your initial offer.

You may be surprised that nearly all, that make offers, seem to be very uncomfortable about doing so.

Hailstorm

chickmug wrote: »

You may be surprised that nearly all, that make offers, seem to be very uncomfortable about doing so. Also I can't recall any where there were any extra conditions attached to that offer.

But as I often say I am here to tell you how it really is in 'day to day' house selling & buying. Not the theoretical side.;)

It is something I have done.

When I offered on the property I am currently purchasing I saw two houses I really liked and offered on both (making it clear to the EAs that I was offering on two so I would be withdrawing one). When I viewed one of them I noticed some damage caused by a leaking shower. I made an offer with the condition that the present owner will fix the leak and damage. The offer was rejected but that was on price. They did counter offer for more money but were happy for the condition to still be attached.. As it happened the vendor of the other house accepted my initial offer so that is the house I went with.

chickmug

Hailstorm wrote: »

It is something I have done.

When I offered on the property I am currently purchasing I saw two houses I really liked and offered on both (making it clear to the EAs that I was offering on two so I would be withdrawing one). When I viewed one of them I noticed some damage caused by a leaking shower. I made an offer with the condition that the present owner will fix the leak and damage. The offer was rejected but that was on price. They did counter offer for more money but were happy for the condition to still be attached.. As it happened the vendor of the other house accepted my initial offer so that is the house I went with.

Yes where was my brain when I replied as you are quite right. Often people did offer subject to the tye of things you say!!!!! I will alter my post.