Negotiation after Survey

bankholiday

Hi Everyone

I wonder if anyone to help me?

I'm buying a house, I found a perfect house for price of 275k.
Next day, I made an offer for 260k, it was accepted immediately.
(same day, surprisingly), I felt I could have made an offer a little bit
lower, possibly 250k, which is the line of stamp duty, but it's too
late.

Now I have a mortgage, and have paid search and survey but the
surveyor rang me last night, he told me few issues:

- Old boiler in working order but maybe I have to replace.

- Old single glazing window so Energy Efficiency is very low. (rating
E) - so I should change to Double glazing window.

- Old electrics etc

I haven't received the proper survey document but the surveyor
mentioned if I want to, I could use this survey result to negotiate
the price, it inspired me to do so.

I understand the vendor already reduced 15k, and the problems the surveyor pointed out are not that big a deal.

At the same time I feel there is nothing to lose in trying to knock down the agreed price.

Any advice?
Would you try to do this?

If we ask to reduce the price for 10k more, is it too much? (I quickly researched the vague cost for replacing boiler, and window, and electrics. It's over 10k)

If it's too much, how much we could ask minimum?
Lastly, who we should talk to? our solicitor? or Estate agent?

Thank you so much for reading this,
any advice would be really helpful!

Dan-Dan

So in effect , nothings different than when you viewed and thought 260k was a fair offer ?

Lokolo

Just becuase they're old, doesn't mean they need to be replaced. Was the surveyor a trained electrician and plumber (GAS)?

If not, then surely it's just an opinion anyone could have? Such as you, when you went and viewed.

G_M

I doubt it. The bolier works, the windows work. the electric works.

You must have realised when you viewed it was single glazing!

DRP

bankholiday wrote: »

Hi Everyone

I found a perfect house for price of 275k.
Next day, I made an offer for 260k, it was accepted immediately.

Ouch! they bit your hand off!

There endeth the lesson in negotiation...

mrsmchapman

You could try, but bear in mind, you clearly saw the windows, so knew they wasn't double glazed, the boiler is working, ok it's old but in working order you may not need to replace for some time, but may be handy to have the money aside if you proceed and wish to change. The epc, did you not see this on the house particulars? They are not qualified to test electrics, so he can only give an opinion, if your unsure on these get an electrical test done.

I don't think you will have much look with a price reduction, given everything works!

RockPaperScissors

As I'm currently buying a house too I can sympathise (I got my survey back yesterday which highlighted some things I wouldn't have spotted).

That being said, you need to pay for a proper Home buyer Survey if you want anything concrete that you negotiate with.

They are around £600 though which is a big chunk but it gives you an understanding of what really needs to be done, what can wait and what is in good nick.

You are then in a better position to take the survey to you solicitor and get them to negotiate on your behalf.

clarabelle41

Solicitors aren't involved in negotiations in England. If you want to re-neg then put your offer to the selling EA. But given that you've agreed a price alot will depend on the vendors position, ie have they found somewhere, how long on the market, how desirable is the property/location, is there room in their budget to reduce further. You may not get anywhere at all so you need to decide if the house is still worth the price offered by you. You said it was "perfect" and personally those things wouldn't be deal breakers for me, especially if you plan to stay for a while. Put your reduced offer on the table and wait and see.....

Dan-Dan

RockPaperScissors wrote: »

As I'm currently buying a house too I can sympathise (I got my survey back yesterday which highlighted some things I wouldn't have spotted).

That being said, you need to pay for a proper Home buyer Survey if you want anything concrete that you negotiate with.

They are around £600 though which is a big chunk but it gives you an understanding of what really needs to be done, what can wait and what is in good nick.

You are then in a better position to take the survey to you solicitor and get them to negotiate on your behalf.

How do you know they havent paid for a homebuyers survey ?

bankholiday

This is all very helpful, thank you.

I have paid a proper Home buyer Survey, and that surveyor has informed me the above details.
I think I have to read the document first, then decide what to do!

robatwork

Move in and be happy....