FTB. Are the seller and estate agent taking the micheal??

Eric1

junglist_grans wrote: »

I'm keen just to come to a fair arrangement

No, you don't want to lose the house, and the seller senses it.
Perhaps you could try to come to a fair arrangement with your pocket first, and then stick to it.

oldone_2

Any survey that includes a valuation is in part meaningless. The value of a house is what someone is willing to pay for it.In the case of the O.P's house it is the asking price less £9,000. Until someone comes along and offers more (or less), then that is the value of the property.

The O.P should contact the esate agent and tell them he is not interested in any figures a survey comes up with. Tell them that he has valued the house at the asking price less £9,000, and that is his offer.

Be assertive and take control of the nnegotiations; after all it is a lot of your money at stake.

adwat

oldone wrote: »

Any survey that includes a valuation is in part meaningless. The value of a house is what someone is willing to pay for it.In the case of the O.P's house it is the asking price less £9,000. Until someone comes along and offers more (or less), then that is the value of the property.

The O.P should contact the esate agent and tell them he is not interested in any figures a survey comes up with. Tell them that he has valued the house at the asking price less £9,000, and that is his offer.

Be assertive and take control of the nnegotiations; after all it is a lot of your money at stake.

Yep........................

Soubrette

junglist_grans wrote: »

Sorry - I can't reply to every post on here. Your post didn't really address the survey value.

I'm keen just to come to a fair arrangement, say half the cost of the windows off the price; but the seller just keeps coming back with - "the survey values the house at the current offer so no negotiations are needed."

It takes two to negotiate - if the seller isn't willing to negotiate then you have decide what to do - do you offer 4.5k less as a final offer and be prepared to walk away? Do you accept that the seller won't negotiate and pay the already offered price?

You want to use the rotten windows as a negotiating tool and the buyers want to use the survey as proof that their house is worth the price you've offered and therefore no further negotiation is needed.

Your wonderings about the valuation is a red herring - tell them you don't think the house is worth the money if you believe that and walk away if they don't or pay the full offer price.

As an aside I would also agree with B&T and others - if the buyer has done this to the windows then there may be others areas which have been cosmetically touched up :eek:. Examine the rest of the house very carefully.

Good luck

junglist_grans_2

oldone wrote: »

Any survey that includes a valuation is in part meaningless. The value of a house is what someone is willing to pay for it.In the case of the O.P's house it is the asking price less £9,000. Until someone comes along and offers more (or less), then that is the value of the property.

The O.P should contact the esate agent and tell them he is not interested in any figures a survey comes up with. Tell them that he has valued the house at the asking price less £9,000, and that is his offer.

Be assertive and take control of the nnegotiations; after all it is a lot of your money at stake.

Cool. Got a meeting with the seller tomorrow. I'm not prepared to take the cost of the windows on the chin so unless a substantial reduction is on the table then it's back to the housing market. Cheers all.

joerugby

Why has the seller seen the survey valuation?

reddyman

How much did you pay for the valuation?

SteveV2

You could offer 10k less. Get a friend/etc to take a look a week later and offer 15k less. Then go back after that with a 8k less final offer.

ch1954

You should definitely use this as a bargaining tool with the vendors if you made an offer based on there being little or no immediate and significant expenditure necessary on the house (i.e. the house was not marketed as "in need of some TLC" or whatever bland phrase the estate agent came up with).

The size of the discount you should ask for needs to take into account how much you're paying for the house (e.g. it would be unrealistic to expect to get a £9,000 discount if you're only paying £90,000 for it, entirely realistic if you're paying £300,000); how much you've already managed to reduce the asking price; and crucially, how easily you could find an equivalent property at a similar price if you chose to walk away.

Having said all of that, I would also heed other posters' caveats re. other potential problems with the house

warehouse

Drop your offer by 9K and don't budge an inch. Walk away when the estate agent says "no way", then sit back and wait for his call. When that call comes you are in the driving seat, they need you much more than you need them.

I also agree with some others here, if the windows are rotten and the seller tried to cover them up then there is absolutely no doubt that there are other disasters waiting to be found.

Personally I'd walk away. Keep us informed whatever happens.