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received homebuyers report... what next?
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jvpari
Posts: 118 Forumite
There are some points that MUST be done so we want to ask the seller to reduce the price in order to pay for them. Do I contact the estate agent to make that proposition? Or do I need to discuss with the solicitors first?
Please excuse my ignorance, the report on our flat only came back with minor recommendations!
Please excuse my ignorance, the report on our flat only came back with minor recommendations!
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I get on well with my solicitor, so I asked her advice on this. One point went through her because it was a request that the vendor do something, rather than reduce the cost- ie remove asbestos in the garden.
For the rest, she advised as to get quotes and then negotiate through the agent.
I don't know if there are any hard and fast rules though. What sort of things does it suggest? Was the valuation ok?0 -
the valuation was fine, assuming we're happy with the repair work.
The biggies:
- The boiler flue needs repositioning
- Downpipe empties on to back garden and some leaky joints on guttering
- "extensive repairs" to the lean-to: It says quotes must be obtained before legal commitment to purchase
- removal of polystyrene ceiling tiles (not that costly?)
-water leak in the shower (downstairs past kitchen); moisture levels are 'unacceptable'
- need to check that the seller has the certificates for part removal of a chimney breast
- no air bricks/vents in living room0 -
get the solicitor to ask for the certificates- we had a couple of requests for these for similar things, and FENSA checks for the windows.
as for the rest- the advice i had was get quotes for all of it- and then when you know how much you are looking at call the estate agent and start renegotiating. the advice was vendors are more likley to be receptive if they can see the quotes in black and white.
i've been told i may get nowhere with renegotiating as the valuation said we are paying the right price (i.e it is worth that despite the problems). however- i do think it is worth trying. particularly with the extensive repairs bit...0 -
ConfusedofYorkshire wrote: »get the solicitor to ask for the certificates- we had a couple of requests for these for similar things, and FENSA checks for the windows.
as for the rest- the advice i had was get quotes for all of it- and then when you know how much you are looking at call the estate agent and start renegotiating. the advice was vendors are more likley to be receptive if they can see the quotes in black and white.
i've been told i may get nowhere with renegotiating as the valuation said we are paying the right price (i.e it is worth that despite the problems). however- i do think it is worth trying. particularly with the extensive repairs bit...
Thank you. I'll have to let the estate agent know as they will have to let the tradesmen in for quotes. Hopefully we can hold off the major discussions until the quotes are in.
I'm not sure the seller will budge on price as it's the only house to have come up in the area in months. Our flat sold in hours!0 -
I did the same thing- called the agent and told them we would need to get people in for some quotes so we would need access. I was expecting them to be grumpy with me as they hadn't seemed helpful up until that point but she was actually really good about it- I think it probably happens alot.
she suggested some tradesmen herself but I went with recommendations from friends as I wasn't sure if having someone the estate agent was pals with was a good idea! for building quotes- get more than 1.
at the very least you will have a good idea of what needs doing on the house which will help you to budget, and at best the seller might negotiate. good luck :beer:0 -
Some of this is important - some is not. and some does not warrant a fight over the cost unless the sellers are a push-over:the valuation was fine, assuming we're happy with the repair work. Does it actually say "assuming....."? I doubt it. I bet it says the current valuation (ie in current condition) is £X
The biggies:
- The boiler flue needs repositioning
1) Possibly because building regs have changd since its installation. There is no requirement for retrospective upgrading to new BRs standards
2) if the boiler was installed over 12 months ago, the local authority will not enforce compliance
A section 36 enforcement notice cannot be served on you after the expiration of 12 months from the date of completion of the building work
3) so if you want the flue moved, you move it
- Downpipe empties on to back garden
Oh dear. So your garden might get wet??? The critical question is how far from the base of the walls is the discharge?
and some leaky joints on guttering
Not worth hassling over. Buy. Pay a man with a ladder £50 to sort the gutters. You're a home-owner.
- "extensive repairs" to the lean-to: It says quotes must be obtained before legal commitment to purchase
If the 'lean-to' needs 'extensive repairs' you must have seen it was in dodgy condition.......?
- removal of polystyrene ceiling tiles (not that costly?)
Well, the sellers have probobly lived there with the tiles happily for 5? 10? who knows 30? years. Why should they pay to remove them now they are selling? Unless you make it a deal-breaker. And then you are in a game of bluff and counter-bluff!
-water leak in the shower (downstairs past kitchen); moisture levels are 'unacceptable'
Probobly neds investigating. Cause of leak? £20 to fix, or £200? Who knows. Can't discuss till you know.
Is the 'moisture' the result of the leak (fix the leak you fix the moiture) or, more likely, poor ventilation.
There again, it could be penetrating damp from outside! Your survey report is not very helpful so ring the surveyor and ask!
- need to check that the seller has the certificates for part removal of a chimney breast See below
- no air bricks/vents in living room Air bricks 2 x £3.51 + £20 to a guy to fit. Ignore.
The issue with the chimney breast is that if there is no BRs then it may be a bodge job, and the (heavy!) chimney above may no longer be properly supported, which is dangerous.
If it was done in the last year or 2 by a cowboy with no BRs, then it might come crashing down.
If it was done 30 years ago, chances are it's not going to now.
In between? Do the maths!0 -
Sound advice above.
you are going to spend some of your own money here, you are buying an older property.
Unless the valuation says its worth less than what it says if I were the vendor I wouldn't be negotiating.An opinion is just that..... An opinion0 -
Hello all,
We have received the Homebuyers report and there are a few red/3 highlighted areas.
The property is a two storey end terraced built in 1935.
1) The chimney terminal stacks (which are in common with the neighbour) are advised to be removed with health and safety precautions with the eroded mortar joints treated.
2). A number of damaged tiles to the rear indicating that the roof has reached the end of its normal economic life expectancy.
3). Damp proof course - the external pavings have been build too close to close to the bitumen damp proof course. Air bricks minimal.
Obtain quotations for the improvement in sub floor ventilation and lowering external ground levels 150mm below the damp proof course/ air brick lower edge.
Localised areas of dampness to the rear wall to the left of the kitchen units, rear left corner, rear living room chimney breast, in the loft rear left party wall.
Caution reading with the linings in the under stairs cupboards were also obtained.
4). Soot marks on the fire which are indicative of inadequate combustion of the flue gases which maybe linked to the asbestos terminals to the chimney stack.
Mortgage lender have said the valuation has come back fine but will they get the results of the Home Buyers report?
As the valuation on the report is £23,000 less than the asking price will the Mortgage lenders reduce our Mortgage offer?
I have sent the report to my solicitors and await the response. We will also ring the surveyor tomorrow and ask how urgent he thinks the work will be.
We love the house so will get some quotes for the renovations. What concerns us is if the work is urgent we have no real spare money after the deposit....if it is not urgent it can wait until we have funds.
Should we ask the seller reduce the house price to by the £23,000 or just by the amount of the quotations? Do we show the seller or EA the Home Buyers report?
If anyone could give some advice it would be appreciated0 -
Really you are always better off to start your own thread rather than tagging onto somebody elses'.
Yes your mortgage offer will be reduced by £23k to match the valuation they have on the property. It might possibly be a retention, meaning they will release the £23k after the required works are completed. You & your solicitor/advisor should be informed if this is the case.
I would only normally show the ea the parts of the report that mention any of the defects & show the lower valuation.
And yes, you need to renegotiate with the vendor about reducing the price. Because of the low valuation, you will need to try to get the vendor to agree to drop the price by as much as possible, or to have the required works carried out themselves.
Usually builders will give you an estimate, which is only a guide of how much it will cost. It could be a bit more.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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