Sealed bids property got burgled

dharm11

We have put an offer in for a property and it has been accepted. The offer was 20k more then the listed price(125k).

I went to look at the outside of the property last week and found both doors were open. I closed the front door and phoned the EA to requested a viewing. Well yesterday me and the EA found that the floorboards where ripped out and the central heating copper pipes had been stolen from throughout the house. The boiler and radiators are still there unconnected so im not sure what condition they are in. I also found they had put a foot through the ceiling in several places. There wasn't any sign of break in so my guess is that the EA left the back door open by mistake.

Because of this we are thinking of renegotiating the price from 145k to 139k. my question is how do i go about it, should i contact the EA or go through solicitors? Is 6k too much? The guy from EA did say he will do a deal as a good will gesture but i haven't heard anything from them as yet.

Its a detached 3bed dormer bungalow based in east midlands which needs a refurbishment.

JQ.

If the EA has messed up, I would be inclined to go through them. It gives them the opportunity to rectify the situation without raising suspicions with their client. Suddenly, they will want to keep you happy rather than their actual client, so they will hopefully do everything in their power to keep you onside.

If that proves fruitless, then go through the solicitors highlighting exactly the reasons for the drop in offer and your suspicions with regard to the EA.

G_M

What are you wanting? The property repaired? A drop in price? A bit of both?

Insurance should cover the damage, so insist on the current owners' insurance making good before, or as a guaranteed condition of, Exchange of Contracts.

Tell the EA you are reducing your offer due to the damage/risk etc.

kingstreet

If this is a repossession, it may not have been broken into. Did the Agent have the locks changed? You may not know.

There is a tradition of those being repossessed going back and removing everything in sight that has a value and indulging in a little vandalism, just to make a point.

dharm11

The EA mentioned it wasnt a repossessed property. a drop in price would be ideal. I think i will contact the EA first. I just hope they don't fob me off because the house is in need of modernization. mine you the ceiling and boiler seemed as if they were in good condition.

googler

You don't own it yet (you haven't exchanged, I assume)

The current owner's insurance should cover it. If it's been repossessed, the mortgage co's insurance should cover it.

You get them to replace the old pipes with shiny new ones, fix the ceiling etc. before you take possession, surely (as per G_M's post)

kingstreet

An empty property that went to sealed bids wasn't a repo? Blimey. It could be a former part-ex or deceased estate I guess.

It should still be insured and the vendor may wish to have the insurer deal with it at the current agreed price, rather than cut the price you're paying and shouldering the cost of the break-in himself.

poppysarah

6k might nnot be enough to put the damage right. You'd need to relook at the property.
Even if insurance covers it then it's messing about and time.

Unless it's the bargain of the century I would go find another one.

dharm11

Having spoken to the EA, they said there is no chance of reducing the price. They called the police to check the property and spoke to the vendor yesterday to ask if they were willing to arrange a good will gesture and they declined. The EA told me it would put all the other offers back on the table as one wasn't far from what i offered.

Would it now be a good idea to go through solicitors? I could mention the door being left open most likely by the EA as it couldn't have been by the vendors as they live 200 miles away. We haven't done any searches or exchanged details as yet.

oldone_2

You saw the property and made an offer based on what you saw.The condition of the property has now changed and you are well within your rights to alter the offer price.

Stop worrying about who left the doors open, or dealing with solicitors. Just tell the E.A that you either want the property to be restored to the condition it was when you saw it, or you will revise your offer downwards.

Be firm - if they don't want to play ball walk away.You may not think so at the moment, but there will be other properties along that you will like even better.

From the attitude of the E.A/ vendors, I am wondering whether the property is in fact insured.

Honest_EA

Just to get the facts straight, did you put in a sealed bid after you first looked at the outside of the property? Then once you had a viewing with the EA did you discover that the pipes had been removed? If you put your offer in 'blind' without checking the inside and without stating it is subject to an internal inspection or survey then that could be a different matter. If, however, as I expect happened, the property was later ransacked then you have every right to lower your offer. You offered 145k in a condition you saw it in but after it was ransacked it could take 10k to put it back to the same condition so it is no longer worth what you originally offered. The fact that yours was the highest offer should allow you some leeway as the lower bidders will also consider the damage and lower their offer accordingly.

The EA is not doing enough to get this sale to go ahead in my opinion. The vendor must accept responsibility for the condition of the property up until completion of sale so if it becomes damaged you have every right to pull out or lower your offer. Don't give in just because they said no. Put your new offer in writing and explain that it has been lowered to factor in the damage caused by an act of vandalism/theft that now adversely affects the properties value. I'd make sure my vendor understood the situation and that they should negotiate the price to get the sale done.