Homebuyers report in - who pays for work recommended?

mrpop

Hello

I was wondering if anyone could offer a little advice please. We are buying a house atm, and today received our Homebuyers report. There is nothing major on there, but a few recommendations.

It's been advised that we get some quotes before exchange of contract for possible work that may need doing.

If it turns out that work DOES need doing, who usually pays? We're moving towards exchange of contracts at a very fast pace (we're 1st time buyers, mortgage is all sorted out now & valuation is done & vendors are moving in with family for a while so no chain) and we don't want this to hold us up any more than is needed - but still want to make sure we're not moving into somewhere that will cost us thousands of £'s in the first couple of years.

Any help/advice much appreciated!

S :xmastree:

lemontart

You have several options - go ahead no change in price etc and do it afterwards (would warn against this as sister now has a £1000 bill or see house fall down)

Ask the vendor to drop price reflecting cost of work you need to do.

Ask vendor to do work and have it put in contract that it must be done in order to complete.

Beth
xx

magyar

Spot on advice. If they won't offer to pay in any way (and you don't want to pull out) then you should ask for an limited indemnity against any costs associated with these specified works.

clutton_2

its all down to individual negotiation - i would not consider getting vendors to do the works, they will inevitably do it as cheaply as possible - wouldn't you ?

magyar

clutton wrote:

its all down to individual negotiation - i would not consider getting vendors to do the works, they will inevitably do it as cheaply as possible - wouldn't you ?

Of course, you could argue that from the vendor's point of view, the buyer might equally not care about cost and get a Rolls Royce job done.

The ideal solution is of course for you to negotiate a price for the works, get that knocked off the price and THEN see if you can get it done more cheaply!

mrpop

Thanks for your replies. No, we don't really want to pull out, I don't think the work is catestrophic, more a cautionary thing - and I'm sure the surveyors that do these reports always err on the side of caution.

They said in the report that the kitchen was fine structurely but in need of updating and modernising - myself and my other half had commented to each other that it was a nice kitchen and wouldn't need any work! :rotfl: Just shows how opinions differ.

Thanks to you all for your help.

S:T

hardtimes

I always check to see if the lender has withheld any money in the offer letter.If they have then it is serious and must be sorted before they will lend the full amount.

magyar

mrpop wrote:

They said in the report that the kitchen was fine structurely but in need of updating and modernising - myself and my other half had commented to each other that it was a nice kitchen and wouldn't need any work! :rotfl: Just shows how opinions differ.

What a bizarre thing to put in a survey. I think you'd have a hard time getting a reduction in the price for this!

Debt_Free_Chick

mrpop wrote:

If it turns out that work DOES need doing, who usually pays?

It really depends on what is meant by the "work does need doing"???

Dangerous electrical/gas installations - probably a "yes" but general "updating" and/or "redecoration", well .... we all have our views on that. When you buy a new build, then I think it's reasonable to expect everything to be perfect. Otherwise, it's like buying a second-hand car - you should expect a certain amount of wear and tear and the price should reflect that.

Decoration is, IMHO, a matter of personal taste. Hands up all those who live in a property with decor that would suit everyone else and decor in pristine condition? Well ... it just doesn't happen, does it.

What you need to be concerned about is the value placed on the property, in its current condition. Does the surveyor's value match what you've offered? If so, then he is confirming that you are paying a reasonable price.

but still want to make sure we're not moving into somewhere that will cost us thousands of £'s in the first couple of years.

Then you need to split out essential remedial work from your personal preferences. For example, a bathroom could be refitted for £1,000 - but then again, you might end up spending £10,000 depending on the finishing and style/quality of what you actually want to end up with.

Just because the surveyor suggests "attention", doesn't necessarily mean that this is essential work that must be carried out. He might comment that updating a 1970s kitchen would add further value to the property - but that doesn't mean you HAVE TO do it

Most sellers are marketing their property "as is", warts & all. Style, decor and appearance are generally reflected in the price. If you decide to rip it out and install a state of the art replacement, then I doubt any seller would negotiate on this.

But if there is something essential, then many will negotiate.

They said in the report that the kitchen was fine structurely but in need of updating and modernising - myself and my other half had commented to each other that it was a nice kitchen and wouldn't need any work! :rotfl: Just shows how opinions differ.

Exactly! I think your surveyor is saying that there is no essential work, but that the kitchen might not be considered to be the kind of thing that features in Homes & Gardens :rotfl: Most of us have a similar kitchen - and if it were good enough for this month's H&G mag, then you would ripping it out and replacing it in less than five years time

Why not call the surveyor and ask him to comment on his report? Or, at least, the parts that you are initially concerned about.

HTH

magyar

That's a very good summary of the situation. In terms of what you should start negotiating on, a guideline would be "would a non-expert reasonably be able to establish this issue from an inspection of the house" and "was I given reasonably sufficient access to do this".

Most of us can spot a rubbish kitchen or a grimy bathroom, and so it's clearly a case of 'you buy what you see'. Not many of us could spot potential subsidence, or poorly-fitted roof tiles, so this should be a defect and the price altered as appropriate.