Should I reduce offer now we have found the double glazing needs replacing?

lossofbargain

hello all.

our survey came back last week and yesterday we went to look at the house with the report. The windows it seems are very aged UPVC ones and they not only are poor fitting and draughty but there are very difficult to open / close so my builder friend who came with me suggested they all need replacing and to estimate between 4k and 6k as it involes a bay window and 2 doors as well.

There is other work that needs doing, loose tiles and a bay window needs recovering, render outside and the rear needs a second cost of paint. Guttering needs sealing as well.

In all I have allowed 9k to bring the house up to a reasonable standard and I put it to the agent that we should go 50/50 and i have therefore reduced my offer by 4.5k with I reckon 2 weeks to completion,

Question is, am I right to reduce the asking price for new windows and doors or should i pay for them myself when I move in. By the way, we are paying a premium price for the house which looked very shabby we we went back yesterday

jenny74

Well thewindows haven't become draughty since you made your original offer. IMHO, I think you're pushing it.

Old_Git

if I was buying I would ask for the price reduction .
if I was selling I would say the price reflects the condition off the house .

If your seller says get stuffed what are you going to do .

lossofbargain

pull out. we are paying a premium and looking back yesterday the house needs a lot of work doing to make it right. Things noticed was old roof lining which is sweating the house and causing paint to peel. you can out your fingers through the plater above the windows where the old style gutter have been leaking over the years

jenny74

Well if you're going to pull out over £4k or whatever, then you were not that serious about buying in the first place. If you're pulling over lots of issues with the work that needs doing, then I still don't have that much sympathy for you, more for your buyer. As I said before, the condition of the house hasn't changed since you made your initial offer, and from your description of the work, they seem to be obvious things that you should or could have seen before.

Catbells

You can pull out then go back in in a week or so with a new price surely. In my recent experience looking for houses MANY places I've looked at have reduced within a few months of being on the market. Better to bide your time than rush in when clearly you have misgivings. If you lose it you will have learnt something; if it reduces in price you may be able to buy it.

fiscalfreckles

I'd say that's what surveys are for and yes, reduce your offer to reflect the cost of the work needed. BUT if it was obvious when you looked round the property, the vendor may claim that they had taken that into account already.

It also depends on the circumstances of the sale - how much they want you to have it, whether there are other interested parties etc. But I'd at least try reducing the offer - if you are sure that the house is worth it now. You sound doubtful, and if you are - leave it. (Although you would be out of pocket having paid for the survey.)

Catbells

By the way I'm selling and I had to reduce my house's price by £10000 following the survey (from £1.2m). Get the feeling thats one of the purposes of a survey. The buyers wanted £19k off and I came back with a counter offer which we agreed.

fiscalfreckles

It isn't uncommon so don't feel guilty. Offers are made "subject to survey". As Catbells has found, you can offer a reduced offer, but be prepared to negotiate further.

milliebear00001

I think you're being entirely fair in offering to meet half way, although obviously the vendor can refuse and wait for somebody else to come along. I have just pulled out of a purchase where I couldn't justify the amount of money I was going to have to spend to bring it up to standard. In my case, a full rewire which would have meant the revised cost of the house made it the same price as an already refurbed property down the road.

I am surprised people seem to think 'you should have known'. I doubt I would have. Surely that's why we have surveys - so somebody who 'does know' can advise us of likely costs. I don't at all think you can suss out whether double glazing is in need of replacement after a couple of visits to a property - esp. in summer and especially if you have a vendor who says nothing is wrong.

new_home_owner_3

A house by us was up for sale last year at 210,000 pounds now the next door neighbours house went up for 160,000 pound and it sold within days.

I looked at the house from the outside and it looks very run down and also the photos dont do it any favours and it looks like it needs updating.

Now if the property is a bargain, they may have buyers waiting, my friend as just bought a house and when they accepted his offer the estate agent said to him they wouldnt be showing any more viewers.

Anyway he got me to phone up for a viewing, and i was told by the estate agent a offer was goin through and i could leave my number and they would put me on a list of people who had made enquiries about the same house, if there was any problems.

If the house is not worth what your paying you shouldnt be paying it, but remember if more people are interested in the house, they may cut their losses with yourself and go with another buyer.

I bought a house last year and you can tell what needs doing, especially if the windows are aged, your buying the house in the condition it is now, not how you want it to be when you have done it up.

Its like buying a blue car and then saying i wanted a red one, so can i have the money off the total price of the car for a new paint job.:cool: