Buyer trying it on?

Orinoco253

Long story short , we put our house up at 170k, we accepted an offer of 165500 we had 4 competing offers on the table within 3 days of house going up for sale, our estate agents suggested we go with this particular couple despite them not being highest bidder as they were 1st time buyers had a mortgage in place and were looking to move quickly, ideal as we had found our dream house. Fast forward 7 weeks mortgage valuation was completed house valued at 169000, so all good to proceed, 3 weeks later we are contacted by estate agents they are nervous and now want a full structural survey, appointment arranged, surveyor attends spends 40 mins at house. Buyer contacts estate agent saying surveyor says house now needs 15k of work doing, they want this doing and will then buy at agreed price or can we reduce by 15k as they cant afford necessary work.

Work deemed necessary from surveyor

Complete roof replacement
Rotten main purlin in roof
Rewire
Wall ties

Surveyor stood on ladder never went in loft? He never checked the electrics, opened cupboard and looked at RCD unit new type with individual breakers for each circuit.

We have over the weekend had a roofer out to inspect roof, some ridge tiles need pointing, and the irons need replacing there are few tiles that need replacing, main purlin and all timbers as is loft is bone dry with no signs of rot or damp. quote of £600 to complete work

Please can anyone advise? As mortgage company have said house is worth more than they are paying as it stands, how should we proceed, they are sending an independent roofer to inspect roof, but roofer we had said to replace roof would be circa £3000

If anyone could offer advice we would greatly appreciate it

Thanks

Thrugelmir

Speak to the Agents and put the property back on the market tomorrow.

girl_withno_name

They may or may not be trying it on, but I'd probably be asking if a copy of the survey was available... Just in case!

Orinoco253

Thanks for the quick replies, whilst I would expect that if the main roof purlin had gone this would be a major issue, but given that there mortgage company are happy to value house as it stands and confirmation from roofer that roof is currently sound and could do in the future with the £600 of fettling, do you think I would be right in either holding out for agreed price or putting back on market failing buyers agreeing to that?

hcb42

call their bluff.

it is indeed unusual for a surveyor to value at more than the selling price!

Wiring - surely that one is known, either it is modern or it isnt?

Either way, I would stay firm, ask to see survey and make your own view of it, how have they come up with the £15K for example.

They have also vested a lot of time, and two surveys in this, so you might find a middle ground, i.e. fix some of the cheaper items but I wouldnt be inclined to drop price

phoebe1989seb

Definitely extremely odd to value at more than the selling price.......and very strange that the surveyor only spent 40 minutes doing a building survey (or whatever they call it these days!), didn't venture into the attic, yet managed to find £15k of work requiring doing! As someone on the receiving end of a Homebuyer's Report carried out on our old house last year that took over three hours yet found problems that didn't exist, I am very sceptical of surveyors and their findings

I would do as suggested and request to see the relevant sections of the survey in the first instance......and would definitely be seriously considering remarketing the property if I were you......

Pupnik

Either they are trying it on or genuinely had concerns and ended up hiring a dodgy surveyor - do you know what his credentials are? Something doesn't add up here and I would want to give the buyers the benefit of the doubt but you never know, they could have been hearing all these stories about house prices falling and be angling to pay less than they already are.

I remember one of my friends had a survey which showed a lot of repair work needed doing, she got the price down to cover the costs but once she had moved in and had professionals in they told her the repairs needed were very basic and a case of hundreds, not the thousands she had been led to believe by the surveyor, so it could be an over cautious surveryor putting the fear into them.

DVardysShadow

Yes, my strong feeling is that this was not a proper surveyor but a walk on actor of some description.

I would be going back to market, but giving the buyer a fair opportunity to make the survey available.

Mojisola

I would be looking for a new buyer. Someone who starts like this is going to be trouble right up to the final minute of the sale.

maninthestreet

A 'full survey' would have taken longer than just 40 minutes.

fannyanna

Just ask them to the surveyors report. If they can provide one then have a look and think whether what they're asking is reasonable. If they can't provide one - well, then you know your buyers are having you on.