Buying a house that needs work-seller knew but didn't divulge

u0362565

Hi all,

Where do you stand If while buying a house you find out some work is required and the seller knew about this before an offer was made but they didn't divulge the information?

It's not a huge job but a few thousand pounds worth, so would have been nice to know about this at the outset prior to making the offer. We are having a survey done which should again pick up on this issue but as I understand sellers aren't obliged to knock money off if issues are found. It really seems like buyers are at the mercy of sellers. We could back out of course but is it worth it, it's just a shame people don't play fair..

wwl

Your offer is not binding - simply adjust in the light of the survey results - even better if you can get the surveyor to estimate costs of putting right.
The seller knows that any other buyer will do the same

CLAPTON

u0362565 wrote: »

Hi all,

Where do you stand If while buying a house you find out some work is required and the seller knew about this before an offer was made but they didn't divulge the information?

It's not a huge job but a few thousand pounds worth, so would have been nice to know about this at the outset prior to making the offer. We are having a survey done which should again pick up on this issue but as I understand sellers aren't obliged to knock money off if issues are found. It really seems like buyers are at the mercy of sellers. We could back out of course but is it worth it, it's just a shame people don't play fair..

until you sign the contact, the seller is entirely at your mercy.you can ask for him to do the work before contract or ask for a reduction in price.

u0362565

Yes the buy is subject to survey but if we do ask for a reduction equal to the value and the seller says they won't then what? As I say it's not huge money but it just doesn't seem right, but not willing to back out over it.

Derboy

I don't understand what the issue is. Either the seller will adjust the price or they won't. You'll either buy it anyway or you won't. The ball's in your court and life isn't fair.

davidmcn

u0362565 wrote: »

if we do ask for a reduction equal to the value and the seller says they won't then what?

Then you accept that, or you walk away, or you carry on negotiating.

G_M

u0362565 wrote: »

Yes the buy is subject to survey but if we do ask for a reduction equal to the value and the seller says they won't then what? .

Yes. Very unfair.

You ask for a reduction and the seller refuses? You walk away and the seller is stuck with no sale - he is totally at your mercy.

kinger101

Unless you're buying new, most places are going to need some work. I might be concerned if the work was urgent and overdue. Might be an indicator of poor maintenance in general.

michelle2008

This happens a lot - particularly with older houses.

The survey will probably throw up a few issues, and as others have said it is up to the vendor to decide wether they are prepared to reduce the price.

If they already knew some work needed done, they may take the view that the asking price takes account of this.

It's all down to the negotiations at this stage - just try to keep the emotions out of it (hard I know!)

jaydeeuk1

Buyers for our house are having a survey done in next few days. We're aware of a couple of minor things like a roof tile could do with replacing but we have no intention of accepting any reduced offer as we accepted a reduction in asking price, and as we sold less than 12 hours after starting viewings I have no problems calling their bluff if they wish to walk away. Infact, I'd probably not give a reduction in asking price this time.

Person_one

Are you moving out of rented? Unlike landlords, homeowners have no obligation to do repairs if they choose not to for whatever reason, and they don't have a duty to get their house absolutely perfect before they sell it!

You buy 'as is' at a price that you're happy with after considering the state of repair, size, location etc.