Renegotiation with unprofessional vendor

LauraFox

Hi,

We are FTB, property on market for 120K, offer accepted at 110K over 3 months ago. Vendor almost sold twice in the past at 130K and then at 120K (2+ years ago), but both sales fell through as buyers 'got fed up of waiting'.

HB report flagged things we already knew about, hence our offer price, but also some new things we weren't aware of, which we followed up with experts.

1 - Damp
Damp 'specialist' company quoted £1,230 for new DPC.
We then instructed an independent damp surveyor who suggested different remedies costing in total £2,400. He said we may still need to upgrade the DPC if his suggestions didnt resolve the problem.

2 - Old fuse box, electrician quoted £400

3 - Garage roof containing asbestos in very bad condition. Roofer quoted £1,300

4 - Lead pipe, we are quoted £1,200 for plumber's work only, plus it sounds like a daunting job, liaising with Water Board, neighbours, need to excavate, ...

(all above prices incl. VAT, quotes in writing)

5 - Some alarming things that still need to be confirmed by our solicitor: whether an internal wall was removed with building Reg approval, and surveyor could not locate any inspection chambers or access points for the sewage...

Finally vendor has given us very bad impression so far, when we made the offer it was on the condition we would complete by 14th of Dec, it was chain free then and he said he would go into rental. He then went awol and wouldnt answer phone much to the EA's frustration who left him dozens of voicemail msgs, in result it took him all in all 8wks to instruct his solicitor, and Lo and behold, he had now found a property and we are in a chain, obviously he was trying to buy time. The professionals we arranged to send also struggled to make their appointments with him, sometimes taking 2 weeks to finally reach him. Obviously we are not going to complete by Xmas and what we continue to pay in rental would normally go towards our deposit, so I was wondering if this is something to also take into account when renegotiating, as we are being seriously let down and he isnt keeping his word. Reading the threads here, it s usually the vendor chasing the buyer, not vice versa! I feel stuck in a cat and mouse game.

I know what you are thinking now, and yes, we have resumed our search for other properties as well just in case this purchase falls through, and we have already found possible contenders, but obviously that would delay things even more and lose solicitor's and surveyor's fees, so ignoring any backup plans (which are in place), how would you renegotiate on this one?

many thanks in advance and apologies for the long post.

david29dpo

Do you think its likely you will get a discount for the work? (i don't this so, 2 failed sales remember) I would give this one a miss and cut your losses.

LandyAndy

Your choice is 'be patient' or 'walk away'. Only you can decide it based on how much you want that house and how patient you are.

However, with the list of work/problems you give, I would be walking away now and glad I had spent the survey money to save me time, trouble and money later.

poppysarah

I'd just concentrate on looking for another property.

Gromitt

Sounds like the vendor isn't that interested in moving. I'd look for somewhere else instead.

kingstreet

Is it a matrimonial, by any chance?

LauraFox

kingstreet wrote: »

Is it a matrimonial, by any chance?

No, as far as I know they are buying a bigger house and the whole family are moving there.

LauraFox

Thanks for the responses so far.

Of course we are looking elsewhere, but in terms of price reduction, how much would you lower the price considering the work and the delays?

thanks

jimpix12

You cannot reason with stupid.

Find a vendor who is realistic. Even if you get past this hurdle, there will be more and more.

lincroft1710

You have 5 posters who have said "walk away".

Now I shall give you my opinion, which is, wait for it......

"walk away"

6 - 0, will it be 7 - 0, or 6 - 1.


In all seriousness, does the vendor really want to sell or just wait around for things to go all his own way.

GDB2222

LauraFox wrote: »

HB report flagged things we already knew about, hence our offer price, but also some new things we weren't aware of, which we followed up with experts.

1 - Damp
Damp 'specialist' company quoted £1,230 for new DPC.
We then instructed an independent damp surveyor who suggested different remedies costing in total £2,400. He said we may still need to upgrade the DPC if his suggestions didnt resolve the problem.

2 - Old fuse box, electrician quoted £400

How old, and does it need replacing?

3 - Garage roof containing asbestos in very bad condition. Roofer quoted £1,300

4 - Lead pipe, we are quoted £1,200 for plumber's work only, plus it sounds like a daunting job, liaising with Water Board, neighbours, need to excavate, ...

Is this a hard water or soft water area? Not joking! If it's a hard water area, the lead pipe may not matter. You can get a water sample tested for lead.


(all above prices incl. VAT, quotes in writing)

5 - Some alarming things that still need to be confirmed by our solicitor: whether an internal wall was removed with building Reg approval, and surveyor could not locate any inspection chambers or access points for the sewage...

Less alarming if there are no signs of movement, and ask the vendor where the access points are to the sewage before worrying.


Finally vendor has given us very bad impression so far, when we made the offer it was on the condition we would complete by 14th of Dec, it was chain free then and he said he would go into rental. He then went awol and wouldnt answer phone much to the EA's frustration who left him dozens of voicemail msgs, in result it took him all in all 8wks to instruct his solicitor, and Lo and behold, he had now found a property and we are in a chain, obviously he was trying to buy time. The professionals we arranged to send also struggled to make their appointments with him, sometimes taking 2 weeks to finally reach him. Obviously we are not going to complete by Xmas and what we continue to pay in rental would normally go towards our deposit, so I was wondering if this is something to also take into account when renegotiating, as we are being seriously let down and he isnt keeping his word. Reading the threads here, it s usually the vendor chasing the buyer, not vice versa! I feel stuck in a cat and mouse game.

I know what you are thinking now, and yes, we have resumed our search for other properties as well just in case this purchase falls through, and we have already found possible contenders, but obviously that would delay things even more and lose solicitor's and surveyor's fees, so ignoring any backup plans (which are in place), how would you renegotiate on this one?

many thanks in advance and apologies for the long post.

I'd probably knock less than 5 grand off. The thing is of course that the vendors may be having trouble finding somewhere to move to, so they are not motivated to sell. Once they do (if they do!) the selling process will suddenly gain some urgency for them. That might be the time to mention the issues over teh survey.