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Buying a PRC Council house - survey
mo786uk
Posts: 1,379 Forumite
Hi
Situation is as such:
Person is looking to buy their council house
All in the council have valued it at around £60,000. This is based on the valuer who came around and had a quick look and what other houses have sold for.
The tenannt has a general idea of the condition of the house (good enough to live in without having to have it repaired and spending £40,000+ on it).
Anyway, the tennant is considering getting a full survey.
My question is - if the survey brings up a load of small isuess can these be used to get the council to reduce the price further? The tennant thinks the inital valuation was a bit too casual and didn't note some of the issues the house has.
I know you can negotiate with private sellers - but what about the council?
Situation is as such:
Person is looking to buy their council house
All in the council have valued it at around £60,000. This is based on the valuer who came around and had a quick look and what other houses have sold for.
The tenannt has a general idea of the condition of the house (good enough to live in without having to have it repaired and spending £40,000+ on it).
Anyway, the tennant is considering getting a full survey.
My question is - if the survey brings up a load of small isuess can these be used to get the council to reduce the price further? The tennant thinks the inital valuation was a bit too casual and didn't note some of the issues the house has.
I know you can negotiate with private sellers - but what about the council?
0
Comments
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If you do not like the price you can ask for a second opinion - which is provided by the District Valuer.
However, the second price is binding. It could go up. You cannot revert to the original.0 -
Yep. I spose the issue is, can you use a negative survey as justification for getting the district valuer to lwoer the price?
I spose it is logical to get an independent survey done before calling in the district valuer (if appropriate) as you would then have somehting specific to talk about.0 -
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A PRC house will be more difficult to value because not so many of them will change hands on the open market so it will be more difficult to say what adjustment should be made for condition.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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