Help needed on changing asking price after survey

englandaustria

We just received a survey valuation and the roof surveyor recommended that £12k might be likely to be spent on the roof, but in 5yrs time, not now. Should this be a reason to lower our offer price or should lowering the price only happen if the surveyor said the work required is urgent? We don't want to jeopardise the purchase, or lose out on a potential reduction. The sellers want to exchange fairly soon so any advice is greatly appreciated.

Many thanks!

poppysarah

It's got a problem with the roof that will require work on it within your ownership.

Tell them there's a problem with it - use any technical phrases from the survey - and say you're reducing your offer by at least 12k.

englandaustria

Thanks! That is very useful. We also had a surveyor report that doubled that overall cost, but the surveyor continually refuses to give us any idea or approximation of the way in which that total cost of work has been reached/whether it is minor, or urgent, etc. He also made some mistakes and we question his work. Should we maybe only base our reduction on the roof estimate?

poppysarah

Oh right ... get a roofer out to quote for sorting it out - probably an entire new roof and perhaps factor in the cost of not living there whilst it's done

OR find another property to buy?

englandaustria

Thanks Poppy, that is v.helpful. The roof quote was the only acceptable part, which we have confidence in (re: the accuracy of findings). The roof surveyor was a different person to the original surveyor who firstly said that there were no costs, then £15k then £25k which is just bizarre (he made mistakes in his original report too that were fairly glaring). I think we might recommend a cost reduction based only on the roof estimate....

Thanks again!

lossofbargain

i would say go 50/50 on it. you are going to benefit from the investment as the value should increase and you will get the life out of the roof.

englandaustria

Thanks loss of bargain...if we go 50/50 on the value of the roof I think that'll show good faith on our side, and we might get a quick exchange. Many thanks.