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how to reduce offer
ems2
Posts: 665 Forumite
How do you reduce the price you offer, is it through the EA or solicitors?
We are a few weeks off completing but searches have come back from soicitors showing the seller was lying about some things and being delibrately obtuse, ie I dont know the answer to that,about others. We found out she did know the answer to two important, and possibly costly, points..
We are a few weeks off completing but searches have come back from soicitors showing the seller was lying about some things and being delibrately obtuse, ie I dont know the answer to that,about others. We found out she did know the answer to two important, and possibly costly, points..
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hellooo.... I thought this happened quite regularly, it may be a stupid question but I dont know...0
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Can I ask on what basis do you feel a reduction in price is necessary? You need to make the reduced offer through the EA but be prepared for the vendor to say no unless there is a valid reason for a reduction.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
The chimney breast that needs reinforcing, the double glazing is older than we thought and it was noted on the survey that this is a fire risk as not many of them open, there is a problem with the ownership of the drains on the property and the neighbours, we were told the roof was replaced now find it has only been reinforced... the list is ongoing. will I need quotes etc to support my reasoning?0
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ems2 wrote:chimney breast that needs reinforcing
the double glazing is older than we thought (fire risk!)
there is a problem with the ownership of the drains on the property and the neighbours
we were told the roof was replaced now find it has only been reinforced
the list is ongoing....
I think Id give it a miss with big a list of things need doing! :eek:0 -
ems2 wrote:The chimney breast that needs reinforcing, the double glazing is older than we thought and it was noted on the survey that this is a fire risk as not many of them open, there is a problem with the ownership of the drains on the property and the neighbours, we were told the roof was replaced now find it has only been reinforced... the list is ongoing. will I need quotes etc to support my reasoning?
Depends on the wording of the survey, are the windows and roof listed as essental repairs, if they are then you need to get quotes before you do anything else. When you have got quotes for the work that needs doing, this will give you evidence to support your reduced offer.
Personally I agree with the last post, I wouldn't touch it with a barge pole, the fact that the vendor has lied about these things already would make me wonder what else they were trying to hide. The problem will be if the vendor refuses to reduce price, which they are perfectly entitled to do, your only options are to proceed but bear in mind the cost of work or reduce and lose any money that you have paid so far.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
Its best to go via the EA as they have direct contact with the seller, your solicitor won't.
Has your surveyor put any recommendations or retentions on their report?0 -
no retentions, the only recomendations were we should get the gas and elecctrics checked as you normally would. The seller was with the surveyor when he was dong the survey as he quotes her in his repot, the seller has said that they havn't had any problems since moving in and a couple of other things. I think i will walk away but have invested so much time and effort in and would feel really guilty if i did that...0
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Tell the agent that you are not happy to proceed with the purchase & explain the reasons why. How much of a reduction do want with the property? Explain this as well, if you can't renegotiate then walk away.
You may feel guilty about it but how will you feel with a 20 -25 year debt on a property with a load of issues?0
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