Renegotiate after Home Buyer's Survey?

Sandwich84

I just got my Home Buyer's Survey back and although the surveyor agrees that the price is reasonable it has underlined a few issues with the property that will need resolving soon after moving in. The issues include: dodgy old electrics, a roof in need of some TLC (definately not a total write of though!!), fire places removed without proper building regs certification, no fire wall in the attic between adjoining property and boiler on its last legs etc etc (the property was built around 1880). My question is really would it be unreasonable at this stage to try to haggle the price down a bit more? I don't want to push my luck as its the ideal property for my partner and I, but I just think that given the state of the housing market at the moment we could get a few more quid off (already had 7% off asking price)?

themull1

if the surveyor thinks the price is ok even with faults its now up to you to decide to ask for more money off, give it a go. They can only say no.

G_M

And this house is 130 years old........?

Sandwich84

G_M wrote: »

And this house is 130 years old........?

Yes it is. What point are you trying to make here? That you can do simple maths or that I shouldn't renegotiate as these flaws are to be expected in an older building?

jozbo

Sandwich84 wrote: »

Yes it is. What point are you trying to make here? That you can do simple maths or that I shouldn't renegotiate as these flaws are to be expected in an older building?

Means the house has been taken good care of to be in a decent state still.

If you're burning to get more off then request - but they would be well within their rights to refuse since the survey hasn't raised any major issues of concern.

Did you know the electrics were old when you made the offer? If you used any of those reasons for offering under asking then you're unlikely to get much off the price. However if you didn't know you could ask for the cost of rewiring off the price (but get an electrical inspection first to be sure what needs doing)

fraser

i would certainly try especially if you were unaware of some of the issues mentioned in the report

they may call your bluff as if you say the survey has picked these areas up they may ask the follow on question - "so has this challenged the price / value agreed"

you won't be able to show the survey in this case, but there should be room for negotiation. be prepared to get other inspections done to get the ammo for lowering the agreed offer e.g. electrician, roofer, damp inspection - some of these you can get done for free e.g. the damp one I used Peter Cox who inspect for free and quote - will certainly use them when we are into our purchase to the remedial work as it help chop our offer down and it needs doing!

Have you had a lenders survey done ? if you need a mortgage - this will also be a powerful negotiation tool as you may find the local survey and the lenders survey will differ - we certainly did - a difference of 15k in our case