Would you renegotiate on price?

CPS

I recently went sale agreed on a property at £187,500. The Homebuyers report came back with 2 high priority areas - one I am prepared to take on the chin - double glazing windows may need replaced soon.

The other is the corroding of lintels around the windows and repointing being required. I had a builder go out and he reckoned the work was not urgent but will need done at some stage soon and would be approx £4k.

The Hombuyers report opinion was that the house was a reasonable purchase at £187,500 ......provided that you are prepared to accept the cost and inconvenience of dealing with the various repair works reported.....

Not sure how best to approach this - does the sentence in italics give me an option to renegotiate or because the valuation is overall the same as price paid am I wasting my time?

Thanks

Dan-Dan

four thousand pounds to patch up lintels and some repointing ??!

martinsurrey

The house has not been down valued, if you want a new build, buy one, all older houses will have work required at some point.

If I was the vendor, there would be no negotiations on price because of that survey.

DRP

CPS wrote: »

I recently went sale agreed on a property at £187,500. The Homebuyers report came back with 2 high priority areas - one I am prepared to take on the chin - double glazing windows may need replaced soon.

The other is the corroding of lintels around the windows and repointing being required. I had a builder go out and he reckoned the work was not urgent but will need done at some stage soon and would be approx £4k.

The Hombuyers report opinion was that the house was a reasonable purchase at £187,500 ......provided that you are prepared to accept the cost and inconvenience of dealing with the various repair works reported.....

Not sure how best to approach this - does the sentence in italics give me an option to renegotiate or because the valuation is overall the same as price paid am I wasting my time?

Thanks

Even in your own words, and that of the surveyor, none of that is urgent work.

Not really negotiable.

Owning a house is expensive and those jobs are really just maintenance.

dryhat

CPS wrote: »

The Hombuyers report opinion was that the house was a reasonable purchase at £187,500 ......provided that you are prepared to accept the cost and inconvenience of dealing with the various repair works reported.....

Not sure how best to approach this - does the sentence in italics give me an option to renegotiate or because the valuation is overall the same as price paid am I wasting my time?

Thanks

You do not need to be given "an option to renegotiate"
You are free to renegotiate no matter what.

If you are unhappy with what you've offered and want to renegotiate, go ahead. You do not even need to mention the report's findings. Just say you've had a rethink or whatever.

But on the other hand if like the house and are happy with the price, go ahead and buy it.

Good luck.

StuC75

renegotiation is always an option - just depends how strong a justification you need in your own mind.

The survey says in Black and White that the purchase price is fair in recognition of the work required. But thats an Impartial view of mine, and probably what a seller would go from..

If the work was done would it be worth more? or would it just be worth the same?

Lintels would be done when Double glazing is done (part of fensa regs that they are upto scratch when new windows as fitted).

So that then leaves re-pointing as the 'stand alone' job..

If theres that much work to do (windows not cheap + extra 4k?) the 187.5k price suggests you got it priced according to the work required..

CPS

StuC75 wrote: »

renegotiation is always an option - just depends how strong a justification you need in your own mind.

The survey says in Black and White that the purchase price is fair in recognition of the work required. But thats an Impartial view of mine, and probably what a seller would go from..

If the work was done would it be worth more? or would it just be worth the same?

Lintels would be done when Double glazing is done (part of fensa regs that they are upto scratch when new windows as fitted).

So that then leaves re-pointing as the 'stand alone' job..

If theres that much work to do (windows not cheap + extra 4k?) the 187.5k price suggests you got it priced according to the work required..

The survey says it would be worth £190k (which is the asking price) after the works are done.
So the sentence I have outlined is saying £187,500 is a fair price....but only pay it if you are ok with paying the extra required??

CPS

Dan-Dan wrote: »

four thousand pounds to patch up lintels and some repointing ??!

Builder thought £250 - £300 per window x approx 10 windows + VAT + keep some aside for internal decoration caused by the work = approx £4k. Will get me a more accurate quote should I require it......

StuC75

Thats quite pricey, surely easy to do the lintels when the windows are replaced.

Would get a few more quotes, specifically to see what the lintels would cost when built into doing the DG job.. Im sure when I had mine done at old house it was maybe £100-£150 per window if they needed changing when the old unit came out (going from wooden dg to upvc framed)..

Other than thats its a matter of perspective - 187,500 is fair, but only.... as Neutral or Seller I would say go with it.. as a Buyer be cautious to know the full extent possible.. could it cost much more if you put it off etc..(i.e. then its your complete responsibility)..

Would suggest getting a few more quotes to see what the range is...

Home owning is full of such risks and costs in the longer term (nothing lasts forever - windows, electrics will need changing in time).. but nothing can indemnify you for that long its just the joy of being a home owner..


Just be gratefull you know of this upfront.. But nothing to stop you pushing your luck or looking for 50/50 split of this with them to enable you to do this..

CPS wrote: »

Builder thought £250 - £300 per window x approx 10 windows + VAT + keep some aside for internal decoration caused by the work = approx £4k. Will get me a more accurate quote should I require it......

Newly_retired

We have just successfully achieved a reduction of £2500 off our offer on account of something important in the survey. We accepted some items as being part of maintenance eg warnings about flat roof of extension not lasting for ever, but asked on account putting in a new boiler. Did not bother to get quotes - we do seem to have difficulty getting anyone to return with a quote and it all causes delays. Hope this helps.