Gazundered?!

neas

Dimey wrote: »

The shameful tactic I meant was not doing the survey when you'd normally do it, before either party have invested solicitor fees - but leaving it till just before exchange so the vendor has by then committed to buying elsewhere and is too far along the process to comfortably pull out.

I completed yesterday and as I got my mortgage through natwest they wait until they can offer you a mortgage and then do a survey at the end. This resulted in the survey happening after 4 weeks.

Nothing sinister just natwest figures if I aren't elligble for a mortgage theres no reason to pay for a survey.

I think in the end it will be proved there is no sinister intentions and that simply your house does have those issues and is worth 10k less.... Your just having a knee jerk reaction to the news. Either way you can commit your own survey and hope the buyer listens... but if it was me I'd want the 10k off the purchase price.... and may even pull out anyway due to subsidence risk.

I_have_spoken

Sounds like the buyer holds all the aces if they decide to play their joker.

Can you afford to sell for £140,000 and still move? What did you pay?

If they are buying as a holiday home, then they can walk away at the drop of a hat as it's a non-essential purchase.

It sounds as if the market is very slow, if it was Sep-Apr to get a low offer. Has the market picked up if you were to remarket now?

martindow

Isn't the issue whether the price you had 'agreed' reflects the condition of the house? If it is already discounted from what you could get if it was in perfect condition it is not reasonable to drop it further.

The part of their survey I would want to see (and which you may well not get sent) is what they consider the value to be.

HarryBarry

I'm noticing a common theme on here, if you are a seller and the buyers survey values the house less - then they are 'trying it on'.

But the reality is most threads like this just fade away and never get updated by the OP, because it turns out the buyer is doing exactly the right thing (and the same thing we would all do) in getting a survey done and then raising issues that appear.

So I think the right way to go about it is assume the buyer is telling the truth and is just listening to the advice they have been given (although still follow it up just to make sure they are telling the truth). In which case, if I was the buyer I'd either run a mile from a report like that or negotiate a lower price (I think most people would?). If they have this problem then it is possible any future buyer might.

It is strange (or unlucky) that you bought it 2 years ago and didnt have these issues, but the buyer will know this as well so probably less likely they are trying it on as they will know you will dispute it. In the buyers mind at the moment they are probably thinking "they have bought the house, realised that it has many problems and are trying to get out quick". How much did you pay for the house ?

Also the solicitor asking awkward questions... that is his job? The question is only awkward if there is something to hide and you dont want to answer.