Is re-negotiating post survey gazundering?

Hulligun

Basically got a brill house, perfect in every way, but the roof is 80 years old and according to the survey, will need replacing in the next 5 years. The survey said we would need to spend 3 to 5 k on the house in the near future.To us that is a LOT of money that we don't have. On the other hand none of the other houses have had their roofs repaired, and the house is structually sound as...erm...houses.

Personally I think the surveyor is just covering his own back, and we have the house at a good price we are very happy with. However this work might need doing. Should we re-negotiate? Would this be considered gazundering? This is all so beyone me

GAH

No its not Gazundering. If your Surveyor flags something thats going to cost money 1)They are covering there own backs 2)They are helping you as well.

Perfectly acceptable to re-negotiate after a survey. Whether the seller agrees is a different matter.

Being a homeowner can be a costly thing, always best to have reserve money for such jobs as ongoing maintenance.

klolav

Upto you really, if you feel that you got the house at a good price for the visual state it was in, then you should be happy (as you are). Your probably right that the surveyor is covering himself. I agree 3-5k is a lot of money, however most houses of 80yrs old would need some money being spent on them in the near future anyway just to maintain them. It comes with buying older houses. I have an 100yr old property and a 200yr old property. I could probably spend £30k on each, quite easily to improve the house. In my opinion once you have agreed a price, it should be stuck to unless of anything major on a survey, that you really had no idea about.
I'm a seller, so probably see this differently to the buyers out there!
I wish you the best of luck with the purchase, hope it goes smoothly for you.

kingstreet

What's the valuation in its present condition compared to the purchase price you agreed to pay?

If the two figures are the same, the vendor can legitimately say the property is worth what you're paying for it and any repairs will increase the property's value or attractiveness to you and to someone you might sell to...

the_flying_pig

It'd be silly not to try to renegotiate IMO. The seller can of course say no [or indeed ask for more money than initially agreed or, or pull out altogether, or do pretty much anythinig - nothing's really been agreed yet other than at a very high level].


'Morally' [if that means anything], IMO one has a case to renegotiate where a survey turns up something that: (1) you hadn't noticed or picked up on for whatever reason including general ignorance about houses of that type; and (2) the problem that's come up is atypical for a property of its age, price, & general condition.


Where (1) and (2) are both satisfied there's IMO an exceptionally strong case for a price cut. Where only one of the two is [as per your case] satisfied, IMO there's a medium-strength case for a price cut.

Judith_W

I would ask for the reduction, thats what surveys are for and why in England you are not held to anything until you have exchanged. If you really like it and they say no then no loss.

Sunnylooloo

Lots of people do this..... you are doing nothing wrong if you do.

I am selling my house at a lot less than the asking and it seems a bargain to what some of the others have gone for in the area - so I have made it clear to the agents that there is NO way I am renegotiating after suvey - but obv it is always asking the vendor and even if they dont agree to the amount you want you should be able to compromise.

good luck

G_M

If he's saying roof will need replacing in 5 years then clearly there is no serious defect with the roof. Just age. Well, it's an 80 year old house! And the roof may (probobly will) last 8, 10, 20 more years!

Roofs don't suddenly go. If the tiles/slates are in place (not cracked, missing etc which would be noted on the survey) and the roof is water-tight then I don't see the problem.

Surveyor is covering himself by saying it's an old house/old roof, which you knew already.

Future maintenance is a fact of life on older properties.

1trainer1

I am in a similar position and have rung EA to open renegotiations and they have asked for paperwork to back my position. Is this common practice and acceptable?

Thrugelmir

G_M wrote: »

Roofs don't suddenly go.

There again.....

"Older roofs used ungalvanised nails to fix roof tiles in place and these can rust. Once this has happened, tiles can become loose and start to slip. While it is possible to replace just a few tiles, if rust is the problem then all the fixings are likely to be in the same condition."

motherofstudents

Have you had any prices quoted for the roof to be repaired/replaced ? Sometimes the vendor will go half with you. I think if you try to get a reduction and they say no, you have not lost anything. It's a fact of life that parts of buildings will need to be replaced at some time but it sounds like you may have years left in the life of your roof so if you got the house for a good price the vendors may think they have already reduced the price to you to to take this into account.