Urgent Help needed

boysim34

quick history


1) house has got be sold due to grandmother going into care home
2) house sold for 140,000 10 grand below asking price, ok with this
3) red ash found
4) buyer got quote for £12,000 asking to be taken off price
5) buyer now offered £120,000 due to new kitchen and bathroom


Right that's the basic history. the buyer wants to pay 20 thousand below to asking price, yes we agree with the £12,000 for the red ash but they want another £8,000 off the price for a new kitchen and bathroom. what is in at present is not worth 500 quid let alone £8,000. they have also said they want money taken off to have the walls skimmed. they are a cash buyer and we have never sold a property before. we feel they have us by the short and curleys due to the red ash. could anyone give us some advice please

duchy

Are they the only buyers in the world ?
How long was the property on the market before going under offer ?
How much of a hurry are you for the money ?


My feeling is they think you are desperate -as the kitchen and bathroom haven't changed since they viewed the house. I think I'd be telling them to jog on over the kitchen and bathroom personally and the wall skimming too.

elsien

Presumably they could see the state of the kitchen, bathroom and walls when they put in their initial offer, a lower offer you accepted to reflect that. So yes they are trying it on with regard to those.

What you need to consider is how desperate you are to sell, what other interest there has been, and maybe get an independent second opinion/ quote on the red ash so you know where you stand with regard to future buyers before you make any further decisions.

chasingfreedom

I would personally accept the 12k and tell them to forget the kitchen and bathroom, they saw that before they put in their first offer. If they don't budge call their bluff and if they want the house they'll still have it. If not another buyer will also be happy to have price reduced for red ash surely?

boysim34

been on the market since, February. it is important it is sold but not desperate to sell, if you understand. they are saying that the place would be a empty shell as the kitchen and bathroom would have to go ( all can be removed and put back ), my feeling is they are trying to get a new kitchen and bathroom out of use

rosie383

Cheeky b* ggers. I'd be telling them to jog on. It's different when people have a survey and discover hidden problem and negotiate a reduction. But they would gave been fully aware of the state of the kitchen and bathroom.

Good for you coming on here to get some advice and confidence so that you aren't taken for a ride.

Hoploz

What's red ash?

Forget this buyer, they will be trying it on right to the end. You can't renegotiate for regular easily spotted jobs like kitchens and bathrooms, that's no surprise!

Get another buyer.

G_M

Hoploz wrote: »

What's red ash?

.

http://www.redashtest.co.uk/

Who diagnosed the red ash.......? I hope not a company specialising in the treatment of red ash......!

As for the kitchen etc: !!!!!!! They knew wat condition it was when they negotiated the original discount. What has changed since then? Has the kitchen suddenly got worse?

They are taking the P, so I would UP th price.

Out,_Vile_Jelly

I've never heard of red ash either. I would get three quotes for the red ash, and reduce the market price by the median- explain this to all future buyers. If it needs completely redecorating this should already be factored into the asking price.

Rambosmum

Firstly, stop worrying. I appreciate that the house needs to be sold but as you have said there is no rush. Under the Care Act your mum (or her appointee) can request a deferred payment so the house does not need to be sold.

Red Ash is an issue and will cost quite a bit to get done. I'd get a survey done on the red ash yourself so that you can show this to potential buyers.

As for the kitchen and bathroom - yes they are taking the p**s.

Tell them you'll take of the 12k but that's it. If they pull out so be it. They made their initial offer based on the condition as they saw it, the only thing that has changed is the red ash. I think they've smelled desperation and are trying it on.

eddddy

You should consider getting your own red ash survey to find out the extent of the problem.

For example: this site http://www.blythebuildingconsultants.co.uk/sulphatefloor.php suggests 4 classes of problem:

Class 1: Generally acceptable to mortgage lenders (no work required)
Class 2: A mortgage lender may insist on work being done (i.e. a retention)
Class 3 : Not mortgageable
Class 4 : ???

So if that site is correct:
- Class 1 might justify some discount
- But if it's Class 3, it might be worth working hard to keep these cash buyers

(Bear in mind that a buyer might show you an quote for £12000, but have no intention of getting the work done - for example, if it's in Class 1 above.)