Changing my offer for a house after it has been accepted

Descartes

I put in an offer for a house and it was accepted. I had a survey done and gave the details of my solicitor to the EA. The survey said that the double glazed unit in the kitchen had failed. I am going to the property today to have another look it.

I am unsure about how to go about revising my offer based on this problem. How is this done? And is it usual for people to revise offers because of problems highlighted in the survey?

Jorgan_2

It is not unusual for people to try & re-negotiate after issues that have shown up on surveys. If its just the sealed double-glazing unit that has failed, it may be possible to get a replacement unit, fitted for around £150, depending on window size. Get some quotes and try to renegotiate via the EA.

elDeeJay

Interesting stuff. We're going back for our second viewing tonight (have already had an offer accepted and its now SSTC). If we were to notice something, or the surveyor picked up something, would you put the revised offer direct to the Sellers or via the EA?

mi-key

Revising an offer is pretty common - for example, if you offered X amount, and the survey said it needed a new roof, or other major expensive work, the value of the house has just dropped by the repair cost.

If it is just one window that has failed, then it shouldnt cost much to replace - I think your choice would be either to try and knock down the seller by the cost of the new window, swallow the cost yourself ( if it isnt too much, and you're getting a good deal on the house anyway ) or ask the seller to replace the window themselves, and you pay the original price.

I think the danger is if you start changing your offer and the seller pulls out - they'd have you over a barrel as you have already spent out for the survey, and either have to pay the original price, or lose the money spent on the survay, plus have all the hassle of trying to find somewhere else - although I think this would apply more if you were talking about something that cost thousands to fix, rather than something relatively cheap.

JennyW_2

Descartes wrote:

I put in an offer for a house and it was accepted. I had a survey done and gave the details of my solicitor to the EA. The survey said that the double glazed unit in the kitchen had failed. I am going to the property today to have another look it.

I am unsure about how to go about revising my offer based on this problem. How is this done? And is it usual for people to revise offers because of problems highlighted in the survey?

I wouldn't accept a lower offer because of a failed unit, plus perhaps the house was priced to allow this? Failed units are no big deal, I've got one in the bedroom.

Jay1b

It really depends how much. If you need a new roof at a cost of £5000, then revise your offer. But for £150? Is it really worth the risk of losing the place? Some people will walk away in principle.

biting_the_bullet

Well, this thread pretty much sums up our position at the moment. We agreed a reduced price for an advertised 1920's 5 bed detached from £259950 to £240000 with vendor paying stamp duty. The house is an original 3 bed with a 2 bed loft conversion, as advertised on rightmove. We paid for a homebuyers report (£550) and it drew our attention to quite a few problems. Next step was to get my Builder friend round.

Main problems found are thus:-

Loft conversion is in the builders description "a bloody death trap". No provision for strengthening the timbers at all, no fire escape. So its a 3 Bed property, still advertised as 5 on Rightmove.:mad: :mad:

Rear extension rosemarry tiled roof is shot and needs replacing asap.:mad: :mad:

All original gutters/fascias etc need replacing asap, before winter.:mad: :mad:

Rear lounge ceiling (lath and plaster) needs replacing asap.:mad: :mad:

So, our position at the minute. We totalled up the costs to rectify the works, including bringing the loft up to spec to create one bedroom. We knocked off 20K from our offer and the house has gone back on the market.
We love the house, but the vendors paid £245'000 for it only a year and a half ago, so it would mean taking quite a hit to sell it at our offer. But, what they paid has no relevance to us, we can't rescue them from paying an ott price!!
I'm so mad the house is still being advertised as a 5 bedder!! If anyone interested makes an offer and only gets a basic survey, then surely the whole thing must be against the law, trade descriptions and all that.

Peeeed off and a Grand out of pocket!!!!:mad:

Descartes

biting_the_bullet wrote:

Loft conversion is in the builders description "a bloody death trap". No provision for strengthening the timbers at all, no fire escape. So its a 3 Bed property, still advertised as 5 on Rightmove.:mad: :mad:

There is a loft converstion in the house Im trying to buy. My surveyor said it should be only used for storage because it is considered dangerous as there is no fire escape.

star1_2

My posting may offend some people .... (please don't take it personally) ....

Last minute haggling and asking for price reductions, only goes to complicate and upset people in the house buying/selling process.

People need to realize that unless you are buying a new house (with NHCB Gtee), or there is a sepecific gurantee or statement regarding the condition of the property or a specific part of it - you should accept the property (and it's fittings will not be new), you should therefore stand by your offer and not accept further reductions for minor items that do not affect the mortgability of a property.

Houses by their nature are "second hand", would you complain later about a worn tyre on a secondhand car after you agreed, shook on the price and then drove it away? (No, the car is secondhand), would you buy somthing from a charity shop and then take it back because it had somthing wrong? (No - you know it's secondhand), would you buy something off the bargin/seconds rail in Next? if it had a minor defect? (No, it's maked as being a second/defective) ..... it's the same with an older house .... commonsence tells people it will have probelms and defects ....

The only time when I feel it's appropriate to haggle, or ask for reductions is when there is a serious defect - such as subsidence or a roof about to cave in - which would affect the mortgageability of a property.

Sorry - if thats a bit contovertial .....

ps .... on the other subject .... Regarding the loft / 5 bed issue - unfortunatly the agents (and EA particulars/selling act) does not make provision for them knowing the legalities of whats a "habital room" and whats not ..... I sympathise completly with this one ..... Personally - this "bodged" extension would sound "alarm bells" as to what other potential "bodges" lay in this property .... I would just walk away .... and spend your time looking for another property ....

Jorgan_2

Do any of the loft conversions have planning or building regulations consent? If not they are attic rooms and should be priced accordingly. An attic room is a room that the owner uses as a study, play room etc. They don't need permission to board it out & decorate it, but it shouldn't be sold as a loft conversion.

JennyW_2

star1 wrote:

Houses by their nature are "second hand", would you complain later about a worn tyre on a secondhand car after you agreed, shook on the price and then drove it away? (No, the car is secondhand), would you buy somthing from a charity shop and then take it back because it had somthing wrong? (No - you know it's secondhand), would you buy something off the bargin/seconds rail in Next? if it had a minor defect? (No, it's maked as being a second/defective) ..... it's the same with an older house .... commonsence tells people it will have probelms and defects ....

The only time when I feel it's appropriate to haggle, or ask for reductions is when there is a serious defect - such as subsidence or a roof about to cave in - which would affect the mortgageability of a property.

I agree. No "second/third/fourth hand house" is going to be perfect, plus the vendors have been living there for years so it cant be that bad

If the roof was falling down or there were serious damp/elec problems it's a different matter, but a bit of wear and tear should be expected and accepted.