Help!!! is the survey overzealous??

Tiffanyk

We are selling our house which we priced below other properties as some cosmetic work needs doing. The buyer then knocked us down 5k saying that was to cover work that needed doing. The house is 24 years old and she viewed it for an hour and a half. I was honest about what needed doing. 5 weeks into the process and she wants to knock a further 7k off the price due to the survey. Nothing is structurally wrong with the house and I can't help feeling that the ones he has marked as red are just to make up his fee. :mad:
He has pointed out one slipped tile and that the ridge tiles may need repointing. The electrics aren't up to currrent standards (like I say the house is 24 years old). The guttering at the front doesn't slope properly. Without even removing the fire guard on our open fire he has decided there is inadequate ventilation and the appliance (?) needs safety checking. We have used this for 3 years no issues.
oh and the flat roof on the garage isn't adequate and not flashed properly. The buyer was aware as we even discussed the fact that you could see daylight up the side. And to top it all there may be damp in the garage - but isn't this normal as the doors aren't watertight. There is no damp showing on the walls and these aren't plastered so can't really hide anything.
He mentioned the boiler too but this is a year old and I have all the certificates so that is not an issue.
She now wants to reduce her offer by 7k or we do all the work.
I'm sorry but I am not willing to add a fire door to the garage as she was aware of this from the viewing and has already knocked us down from the asking price.

What do you guys think? Do I tell her to do one thereby losing all the money I have put on a new house? How can I best negotiate this? With the quotes I'm getting the work is going to be way less than 2k. Have I any comeback on the survey? I dont believe he has taken into account the schools in the area and the fact that property is at a premium here and typically sells fast. We sold within 3 weeks.
If I lose the house I have had my offer accepted on I won't be able to buy anything in the area and keep my son in the same school which he needs as me and his father are divorcing.

Any tips????

Dan-Dan

What value does the surveyor put on your house?

Tiffanyk

he has put 165,000 on there. we sold for 172,000. Typically smaller detached houses than our are going for upwards of 180,000 in the immediate area - and up to 250k

dinkylink

If the house was really priced to take all this into account in the first place and they have already got £5k off tell them to do one.


And to be honest I might be tempted to put the house back on the market anyway as they sound like a very difficult buyer. Who says they might not try to pull something on the day of exchange for example?

Tiffanyk

this is what I'm worried about. I know she had been looking for ages when she bought ours and is also in a chain so risks losing her buyer...

I'm just panicking as houses come up so rarely in the area and I have actually found one I can afford on my own. if we tell her to do one then I lose that, the £1000 I've already paid out in fees etc and quite possibly my only chance of staying on the property ladder in the area

Guest101

Tiffanyk wrote: »

We are selling our house which we priced below other properties as some cosmetic work needs doing. The buyer then knocked us down 5k saying that was to cover work that needed doing. The house is 24 years old and she viewed it for an hour and a half. I was honest about what needed doing. 5 weeks into the process and she wants to knock a further 7k off the price due to the survey. Nothing is structurally wrong with the house and I can't help feeling that the ones he has marked as red are just to make up his fee. :mad: - Unnecessary, the fee is paid regardless.
He has pointed out one slipped tile and that the ridge tiles may need repointing. - seems fair. The electrics aren't up to currrent standards (like I say the house is 24 years old) - So accurate? . The guttering at the front doesn't slope properly - Again accurate?. Without even removing the fire guard on our open fire he has decided there is inadequate ventilation - He knows better than anyone on here. and the appliance (?) needs safety checking - Seems good advice. We have used this for 3 years no issues.
oh and the flat roof on the garage isn't adequate and not flashed properly. - Now you know. The buyer was aware as we even discussed the fact that you could see daylight up the side. And to top it all there may be damp in the garage - but isn't this normal as the doors aren't watertight. There is no damp showing on the walls and these aren't plastered so can't really hide anything. - But have you checked using a calibrated reader?
He mentioned the boiler too but this is a year old and I have all the certificates so that is not an issue. - Probably just a gas safety recommendation.
She now wants to reduce her offer by 7k or we do all the work.
I'm sorry but I am not willing to add a fire door to the garage as she was aware of this from the viewing and has already knocked us down from the asking price. - So say no? But you might lose the sale.

What do you guys think? Do I tell her to do one thereby losing all the money I have put on a new house? - Well you might find another buyer quickly. Or she might decide it's still worth the price. How can I best negotiate this? - Well you can say yes, no, or offer a counter figure. With the quotes I'm getting the work is going to be way less than 2k. - So offer way less than 2k. Have I any comeback on the survey? - Absolutely none whatsoever, it's not your survey. I dont believe he has taken into account the schools in the area - he probably hasn't given it as much weight as you'd like. and the fact that property is at a premium here and typically sells fast. - So you shouldn't have a problem if the buyer pulls out. We sold within 3 weeks.
If I lose the house I have had my offer accepted on I won't be able to buy anything in the area and keep my son in the same school which he needs as me and his father are divorcing. - And what does your husband think about the price?

Any tips????

Talk it over with your husband, as presumably he'll be getting 50%

Dan-Dan

from your buyers pov , they are being advised by a `professional` not to over pay for the house , what would you do if that was you?

Tiffanyk

I do understand that she wouldn't want to overpay I would try in her position but I would also be a little flexible which she isn't. My point is that none of these faults were unseen at the point of offer so why should I renegotiate. I am willing to sort the cracked tiles on the roof - I get that. and we're getting a safety certificate for the electrics . My point is that a slightly wrong slope on 2 metres of guttering should not really be a level 3?

And also there is no appliance to safety check its an open fire

my husband is as much use as a chocolate teapot when it comes to serious decisions. hence the divorce. All he does is shout that its not fair.

If I get quotes to fix everything do I have to or can I offer her money off.
She knows our position thanks to the estate agents - can't help thinking she's using it to her advantage.

Guest101

Well then don't negotiate, but be prepared to find a new buyer.


House is worth whatever someone pays for it, not a penny more.

G_M

A full structural survey is (should be) an in depth assessment of a property, and should list all problems or potential problems.

Including a single slipped tile.

It is not purely a report designed to provide a negotiating position for a buyer - it's a report to the buyer on the condition of the property.

It is up to the buyer, and the seller, to decide if the price needs to be renegotiated.

The single slipped tile is important because once the buyer owns the property he may want to fix it.

If you are not happy to reduce your sale price - then don't. Let the buyer write of the survey and other costs he's laid out and look for another property that he thinks will be cheaper/better condition/whatever, if he can.

Or he can stick with the price agreed.

ParisS

I agree with G_M.

The surveyor conducting a full structural survey needs to note everything as they must exercise due diligence and caution in their process. Thus, they tend to be quite aggressive with noting defects.

It is up to you to decide if the points noted in the report are worthy of renegotiating the price. If you are experiencing issues at this stage, it may escalate further as the issue may be more of a nervous buyer experiencing cold feet thus looking for "cracks" to justify an exit from the purchase.

You may take a view of notifying the buyer that you are considering remarketing the property as you cannot move further on the price. Furthermore, inform them that the house will be remarketed after 2 days if there has been no notable progress on the transaction.

This should cause a reaction and, at the very least, you know where you stand in terms of the sale.