Would you give your wholeI survey to your vendor?

Catatonia

The surveyor I had for the house I'm trying to buy came back with a lot of problems, and downvalued the house.

I called the EA to let him know and to say that I was dropping my offer to the surveyor's value due to the problems found. They said they needed to see the evidence for this, so I just sent the pages with 'overall condition and summary of the conditions ratings' and the valuation page. This is what I've done on previous purchases as it's enough for them to see all the issues, but it leaves out all the details so it's not that useful if they pass it on to anyone else.

The EA has now come back saying the vendor feels this is not detailed enough and he wants to see the whole thing. But I feel like he doesn't need to see the whole document: I have provided the list of problems, and the price, which should be sufficient.

Am I being stupid about this? I just think that I have paid several hundred pounds for this info, and I don't really want the EA and vendor to have the whole thing - for one, I am worried that if the vendor refuses to drop the price, they then have the whole survey which they can show to the next buyer, or even try and sell on to them.

What would you do? Just send the whole thing over? Or insist that they have sufficient info and they should just make the decision?

Catblue

I would dig in. If they want a survey they can pay for one. Have you asked them if they would pay 50% of the price of the survey? That might be a solution.

Just state: "Based on the valuation stated in the survey, my offer is X. Take it or leave it".

The vendors know full well that if you walk away then they will have PRECISELY the same problem with the next set of buyers.

As it is, they want to look at the detail of the survey, do a very quick and cheap job on those problems and then they will say that the problems are fixed and they want the full asking price now. You would then need to fork out for specific tradespeople to inspect these fixes and then wrangle with them some more about how painting over a damp patch is not the same as treating damp properly.

Personally, I wouldn't be prepared to face the hassle of that.

Cheeky_Monkey

No I wouldn't send them the whole detailed report. It's yours, you paid for it not them. By sending them the relevant pages, you've proved that you're not just making it up to get the price reduced.

If the mortgage lender now says that the amount they are prepared to lend you is based on their valuation and not on your offer, will you still be able to afford to buy it if you don't drop your offer to match it?

If the answer to that is no and the vendors won't accept your reduced offer, then if it were me, I'd walk away.

Jowo_2

No, I have only ever quoted the relevant sections as it relates to whatever I am trying to negotiate about, sometimes backed up by a quote from a company pricing the repair work or replacement.

And I have been happy to accept negotiations by buyers based on excerpts they've submitted from their survey if I believe the point they are making has arisen out of the survey and isn't an invention on their part. I have even accepted the sum they have said that a local builder has quoted to do the repair work without seeing a written quote as I felt the verbal quote sounded right to me and I just wanted to facilitate the sale and a little bit of goodwill is fine.

hazyjo

I'd never give them a copy (unless they wanted to pay for it!).

If they're being that stubborn and you feel the deal could fall apart, you could let them see it, be there while they view it (ie don't leave it with the EAs and walk away), then take it back with you without letting them have an actual copy.

Jx

Mallotum_X

I wouldnt let them see it.

Its unlikely to make any difference to the value or whether they will drop, but they may well pull out of the deal and do a botch job to hide the faults for the next poor mug.

If they pull out offer to sell it to them but dont give it away.

All the best.

zara*elise

Tell them to pay for a copy of the report (add an admin fee if you feel you're going out of your way by doing this) and if they refuse then walk away. As has been said, the vendor basically wants this free information so they can do a quick fix.

JQ.

Mallotum_X wrote: »

I wouldnt let them see it.

Its unlikely to make any difference to the value or whether they will drop, but they may well pull out of the deal and do a botch job to hide the faults for the next poor mug.

If they pull out offer to sell it to them but dont give it away.

All the best.

It's not the OP's to sell, it belongs to the Surveyor who produced it and I've no doubt there will be a clause in the report stating it is only for the benefit of the OP and their Bank.

Unless of course the OP has a sizeable Prefessional Indemnity Insurance Policy to cover any future claims from the person they sell it to.

mikthe20

OP, now you've paid for the survery it's no good to you unless the vendor comes down in price. They will only do that if they understand the implications of the survey and the impact on the house value. You have done well to prove to them there are issues. I would suggest you say to them you are prepared to sit down with both the vendor and the EA and go through the detailed survey with them, but that they cannot have a copy since you paid for it and/or the surveyor owns the copyright.

Who cares if you've given them valuable information? - that information is no good to you now unless you can get the price down.

martindow

I'm inclined to agree with mikthe20. What you have already provided probably gives the information they need if they are inclined to do a quick fix.

What do you lose by giving them a copy of the whole thing? Maybe they suspect the sections you have given are from another survey. The survey is of no value to you now unless they take it seriously and agree to negotiate the price.

muskoka

Dont give them any more information from YOUR survey. If you don't buy the house, then both the vendor and the EA have a FREE survey on file! I wouldnt do it, no way!