Damp Report from EA & Negotations

drummer_666

nomoneytoday wrote: »

Even if your other damp quote came back with a higher figure, would the vendor actually reduce the price by that £3000-5000, bearing in mind the £7000 "discount" already agreed?

the price offered and accepted was subject to survey.

the survey threw up some issues not expected and not visually obvious

so yes it is likely that they will take a lower offer. unlikely for them to reduce by the amount the unexpected work to cost but likely for some reduction

G_M

I just rang EA and he said they have given the report to vendor who is speaking with his brother and will ring them back in the morning, most likely with a lower price for the house.

In that case be patient. Wait and see what the say/do. If you keep chasing, you weaken your position by appearing too keen.

drummer_666

i haven't chased at all, just rang after damp survey got back.

was told vendor would ring them fri morn (this was thurs morn)

still no phone call by end of yesterday

I want to ring today to start negotiations... or should I wait another 24 hours?

Do I just say 'its me.. blah blah' 'survey estimated over ....k, I reduce my offer by ...k'

coz it's kind of taking the !!!! now. it's not like this is the offer we're talking about, that was accepted a month ago

justjohn

lol
You have too be seen as in charge.
From what you have said the seller/EA has taken charge and is in control. (thats bad from a buyers point of view)

Depending how badly you want this house and how badly the seller wants to sell. Has a bearing on how much discount you will get.

You are estimating nearly 8k in repairs, (Its probably high, to high). They are estimating 3500. Could be correct depending on the severity.

i personally would be looking for around a 5k+ reduction. Why not offer 8k less, Then wait for them to say get lost and act indignant(they will not be happy). Then offer the amount you want knocked off.

BTW A liquid dpc course is not expensive for the diyer. Many companies make 2k profit easily

drummer_666

well i just rang agents and i think i know where the delay is

I'm now dealing with a different person at EA now sale has been agreed and its negotations, which they've only just told me... on the ball EA! This person only works Monday, Wed and Fridays

don't you just love estate agents!

stringbeanjane

Hi,

This thread seems appropriate to my circumstances as well so hopefully someone here will be able to give me some advice.

I'm a first time buyer in Scotland and am buying a studio flat. I had an offer accepted and my offer was subject to the renewal of the home report (seller's responsibility in Scotland and includes a standard survey). The old home report was out of data by being a year old and the flat's been empty for about 10 months now.

The new home report identified some new areas of dampness. Based on the old home report I was aware that there were high moisture readings around the bathroom and the front door. So these were no surprise to me.

However the new home report also states that there are elevated moisture readings along the whole front wall of the property and also around the hot water tank and that there is evidence of water seepage at the hot water tank.

In terms of the pricing of the property, it is evaluated at 57k, was on market for offers around 55k and my offer of 52k was accepted. However based on the new defects found in the up-to-date home report I want to try to negotiate the price a bit lower. Both my solicitor and a contractor who will be doing some work in the flat think this is a good idea.

I was thinking of initially saying that based on the points raised in the new home report I wish to offer 49.5k. Does that sound completely mad or would it be a reasonable starting point? For me if I can in the end only save 1k of the price, it's 1k less that I have to pay.

I have considerable savings and was initially planning on taking a 17k mortage leaving me with an extra 7k to do the place up a bit but given the increased dampness problem I'm thinking of re-negoating my mortage to 20k with 10k savings left for work. My bank should hopefully have no problem with this as I would still be putting in >60% deposit.

Looking forward to your replies!

TrickyDicky101

Hi stringbeanjane

You really need to start your own thread as being based in Scotland makes the situation completely different to the OP's.