Results from my survey and now negotiation

keith85

poppysarah wrote: »

You're going ahead paying for work before you've bought it?

Im definatly not paying for it!!! The current owners will have to get it sorted before we buy it

keith85

JQ. wrote: »

This quite a relevant question to answer if you want people to give you proper advice.

If the surveyor thinks the price you have agreed is reasonable considering the defects then I don't see how you can negotiate. I certainly wouldn't enter into renegotiations with a buyer on the price following a survey unless I saw the whole survey, including the value.

we had it valued and it was slightly lower than what we thought, i dont think we will be negotiating price just want to work completed on the problems that we were assured were not going to be there (dry/damp/knot weed)

paul1964_2

JQ. wrote: »

I certainly wouldn't enter into renegotiations with a buyer on the price following a survey unless I saw the whole survey, including the value.

The seller usually has several estate agent valuations before putting the property on the market. These are not shown to prospective buyers, so I see no reason why the buyer should show their surveyor's valuation to the seller.

If you insisted on seeing the whole of my survey, I would have to insist on you paying the surveyor's fee.

kingstreet

paul1964 wrote: »

The seller usually has several estate agent valuations before putting the property on the market. These are not shown to prospective buyers, so I see no reason why the buyer should show their surveyor's valuation to the seller.

If you insisted on seeing the whole of my survey, I would have to insist on you paying the surveyor's fee.

If you wanted money off my property, I'd want evidence of the reason for the request. That's just me, of course.

Given that a valuer's report shows the current value and the value after any essential repairs, it's quite possible a buyer could demand the vendor pay for, or carry out, the remedial work, then get the benefit of added value on top. Effectively a double gain.

paul1964_2

kingstreet wrote: »

If you wanted money off my property, I'd want evidence of the reason for the request. That's just me, of course.

Given that a valuer's report shows the current value and the value after any essential repairs, it's quite possible a buyer could demand the vendor pay for, or carry out, the remedial work, then get the benefit of added value on top. Effectively a double gain.

I understand what you mean, but from my point of view, the seller has had a huge advantage up to this point. He has had one or more valuations and a professional property agent to assist with the negotiations. Between them, they will try to get the highest possible offer for the property from a buyer who is unlikely to have a huge amount of property knowledge. All this is perfectly reasonable and understandable.

The buyer's valuation evens things up a bit by giving the buyer an idea what the real value of the property is. Personally, I think this is the earliest time that the buyer is in a real position to make an informed decision as to what to offer for the property.

I don't see why the buyer shouldn't try to get a better price than what their expert values it at. Sellers do this all the while and never have to provide evidence of their advisors' valuations.

kingstreet

Estate agency valuations are absolutely worthless and represent the lister's idea of what's needed to get the vendor's business, IMHO.

As an adviser, I've always represented my clients as buyers and got involved in negotiating work to be done, or price reductions, when appropriate.

However, I've always been able to see the vendor's point of view too and never expected them to simply accept what the buyer, or myself, has said without being prepared to give them access to the only professionally prepared report on the condition and value of the property.

I'm not saying I disagree with the point you make here;-

The buyer's valuation evens things up a bit by giving the buyer an idea what the real value of the property is. Personally, I think this is the earliest time that the buyer is in a real position to make an informed decision as to what to offer for the property.

I don't see why the buyer shouldn't try to get a better price than what their expert values it at. Sellers do this all the while and never have to provide evidence of their advisors' valuations.

but you have to bear in mind, an offer has already been made and a deviation from that should give way to an open and frank exchange between both parties, rather than a one-way demand, "take it or leave it" approach.

There has to be an element of give and take, otherwise you'll end up with an impasse. If the evidence is available to break that impasse, why not simply use it. If the evidence doesn't support the request, we have a problem. The only solution then is for the vendor to have a survey, the buyer to have a survey and we spend hours arguing about whose report is right and whose wrong.

paul1964_2

kingstreet wrote: »

but you have to bear in mind, an offer has already been made and a deviation from that should give way to an open and frank exchange between both parties, rather than a one-way demand, "take it or leave it" approach.

I take your point.

To be honest, I am currently in the process of buying a house, so my thoughts are most likely coloured by what has so far been a bad experience. The sellers have mislead us from the start, telling a number of lies to both myself and (quite stupidly) to our surveyor, who quickly found them out. To be fair to their estate agent, he seems quite embarrassed by it all and has become really helpful towards us.

I am currently waiting for the searches to come back, at which point I will have absolutely no qualms about reducing the offer.

kingstreet

paul1964 wrote: »

I take your point.

To be honest, I am currently in the process of buying a house, so my thoughts are most likely coloured by what has so far been a bad experience. The sellers have mislead us from the start, telling a number of lies to both myself and (quite stupidly) to our surveyor, who quickly found them out. To be fair to their estate agent, he seems quite embarrassed by it all and has become really helpful towards us.

I am currently waiting for the searches to come back, at which point I will have absolutely no qualms about reducing the offer.

I understand. Hope it works out for you.

slosher

We brought a house that had a full survey and had no report of rot in it, unfortunately we found a few months after moving that it did indeed have rot - dry and wet in all of the downstairs, there was also really inadequate sub ventilation which caused rot in all of the floors downstairs just so you know it has cost us thousands to put right and yes we are suing our surveying company.
If you are serious about the house, make sure you get a good damp specialist in to survey so at least you have an idea of what you are taking on - good luck.

propertyman

Or if the house is not new build ensure that the house is not purchased solely on a standard valuation report but a full survey. The older and more complex the house most surveyors will arrange, at your cost, for an electrician heating engineer drains test etc and help you with other specialist eg timber and damp if they suspect that there is a problem.