Renegotiation based on homebuyers???

pingu79

Just had our homebuyers report completed on our new house under offer, a 3bed circa 1900 terrace

As the previous owner had spent as little as possible over the last 15years we knew there were repairs.

making good the old sash windows, repairing broken windows (that have been broke for 15years:rolleyes2 . Recovering the bay window roof and repointing to the chimneys.

However the homebuyers report has come back with several other major concerns. A definate new fusebox, which may then result in a complete rewire, minor repairs to the roof, partial new guttering, new sub floor ventilation etc.....

So obviously I'm getting people in for quotes. Given that we only managed to get 3% of the asking price should we renegotiaite, ask for say 50% of the repairs of the asking price???

Being FTB's we don't have cash to spend, but at the same time want to be fair to the vendor but it run's both ways I guess.

Any thoughts

Doozergirl

If you need a full rewire then this is very costly and there is a great deal of upheaval as they'll be chipping away at your plaster left right and centre. It means you will have to redecorate (I guess you'll be doing this anyway!) but the problem comes when you peel back the wallpaper and all the plaster falls off the walls

The other stuff you mention should be relatively inexpensive... Roof repairs and guttering done together and a few air bricks!

50% off works I think is pretty kind of you. It's the sort of thing I'd settle on, but in your situation I would present the vendors with a copy of that section that says 'essential repairs' and simply ask them what they want to do about it. They might feel guilty enough to pay it all, but they will feel a bit panicked at least. Hopefuly they'll come back with what they would like to do about it. Even if they only offer 50% it will feel to them like they are giving, more than you taking, iyswim?

chardhouse

This helps in my post "Survey done- now what?"

I need to speak to our surveyor for clarity and then go to the EA with our essential repairs.

Sounds like we are in the same boat.

It's the chimney and roof stuff that bothers me- scaff can be so expensive and repointing most of the rear of the house will be very laborious.

My essential repairs are the firewall in the roof space and damp affecting the ground floor walls- £3000 guideline budget.

Under "other repairs" I have spalled brickwork and defective pointing to the chimney stack (shared), decay to kitchen roof timbers (lean to at back) and I shoul"danticipate decay to main roof timbers during redecorations" (I need clarity here), ventilate blocked in fireplace, air vents at front of house need to be put in, maintain pointing to external walls.

Under "Further Investigation" electrics need to be inspected, report from Wood Preservation and Damp Proof Association registered firm for all timbers and damp, and advice needed from drainage contractor regarding the absence of inspection chambers and how to improve current drainage.

I was told that a full structural survey would scare me and they were right.

I may be having second thoughts about proceeding with this sale.

mrsS_2

there were 5 of us all chasing the same bungalow in september so I had to pay very nearly asking price.

the survey picked up a few minor points but said we had to get the electrics inspected. turns out it needs a full rewire-so felt quite justified in asking for the lot off the price as they had got a good price in the first place.

if someone has aleady dropped the price a lot just to sell i think they are more reluctant to start negotiating after the survey.

ask for the whole rewire- you can always look generous and agree on 50% later-if you go for 50/50 now you will only end up with 25% !!

benood

We had a similar situation last year - we knew condition was poor and were expecting a bad survey - in the end it came back even worse than expected but we went with it because we thought the house was worth the money - it has turned out ok for us (fingers crossed) - no rewire required for now, roof will last a bit, septic tank seems to be fine, windows done, central heating actually works fine despite much sucking of teeth by plumbers, conservatory rickety but still standing, rising damp seems to be in equilibrium - hey it's an old house.

If you can do try and get the price down - I'd follow Doozergirl's advice to get the ball rolling - nonconfrontational.