Is this realistic of me?

shaz77_2

I have put in a bid for a house that has been accepted, I have also just had my mortgage approved by my bank and this is now going to my solicitor to be finalised.

However in the meantime I have had an energy report regarding the house I am in the process of purchasing sent to me. This report has outlined a number of deficiencies and it has recommended that things such as the boiler etc be replaced. I am thinking of going back to the estate agent and indicating that I am dropping my bid by £1500 due to these deficiencies.

Is it too late to do this and am I being realistic?

Thanks in advance.

advent1122

Wouldn't the boiler have come up in the survey?

opinions4u

shaz77 wrote: »

I have put in a bid for a house that has been accepted, I have also just had my mortgage approved by my bank and this is now going to my solicitor to be finalised.

However in the meantime I have had an energy report regarding the house I am in the process of purchasing sent to me. This report has outlined a number of deficiencies and it has recommended that things such as the boiler etc be replaced. I am thinking of going back to the estate agent and indicating that I am dropping my bid by £1500 due to these deficiencies.

Is it too late

It's only too late once you've exchanged contracts.

am I being realistic?

Yes, but you may need to negotiate, so you may not get your full £1,500.

firesidemaid

if the boiler needs replacing then does the central heating system too? in which case it would be double that at least ie. start negotiating at a higher price

former_student

Would an estate agent take an energy report seriously?

happybroker

I've yet to see an energy report that doesn't make a raft of fairly meaningless recommendations but if you don't ask you don't get and the worst that can happen is that you are in the same position as you are now should they say no.

If you're really worried about the boiler though why not have a heating engineer look at it? Or is this just a way to get the vendor to reduce the price?

Niv

Really just adding my opinion as the answer has been given.

Too late? No - But will cause further delay so I would weigh up what that means toy ou

Realistic? Well I generally agree with Happybroker above, if you dont ask, you wont get. If it was my house (unless I was really desparate) I would tell you to rock on, but thats me and not the guys your buying your place off. Realisitcally the worst that will happen is they say no, I would have thought.

The think with these energy reports is, to me, its a bit of 'jobs for the boys' pretty pointless. My house was built in 1846 I dont need a energy report to tell me I dont have cavity wall insulation etc. Its not hard to look in teh loft and see if there is loft insulation and as for the boiler, did you not look at that when you viewed the plae? The offer you made imo should be based on things like 'is the boiler on its last legs'. When I bought my first place the kitchen was a mess so I knocked 2k off the asking price based on that.

Ramble over and good luck with the house move

Drea2904

If you dont ask you wont get, my mum was the same and it was going to caost over £3000 to install gas and central heating so her and the vendor came to an agreement, I think it was around about half each. Good luck. Estate agents usually never comment on boilers, they usually have a disclaimer about boilers etc.x

warehouse

I wouldn't do it personally. What's £1500 as a percentage of the overall cost? Less than 0.5% I'm guessing. What if the vendor agrees but is then a bit annoyed, gets another offer but their loyalty towards you as a buyer has gone?

If it was me selling I'd be annoyed with you trying to get such a small percentage off, and basically say no but still have the hump with you. Don't risk it.

SandC

If I was a vendor and the boiler was on its last legs I would either get a new one installed before putting it on the market, or price accordingly.

The energy report, I am guessing, does not form any basis on the valuation by the lender does it? In which case if your valuation fits with the price you have agreed to pay it wouldn't surprise me if the vendor would refuse to reduce the price to get a new boiler.

BigDave81

Also to add to all the above valid points, did you offer the asking price or have you already given a lower offer, this would definitely have some bearing on the situation.