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

moneyistooshorttomention

It is fortunate that you have noticed this work before even getting as far as a survey - frequently sellers deliberately cover up work needing doing.

Just because the vendor is living in the house doesnt actually mean "its obviously habitable then". The last owner of my house was living in it - but it wasnt habitable and I had to squat in it as best I could whilst making it habitable.

That's how the cookie crumbles though. It is what it is and there is real cause for complain if a seller deliberately hides work needing doing and then charges a price for the house that doesnt reflect said work. At least that's not happened in this case...as you've spotted the work-to-do already.

As problematic, I feel, is when the seller knows full well that the neighbours are nfh and hide that fact and someone buys a house expecting that the neighbours will be "normal" and then finds they arent.

AdrianC

So you've had a survey, and the surveyor's flagged this work up as needing doing.

Have they stated that the property is worth the agreed purchase price, or have they reduced their opinion of the value?

If you were buying from me, and used the survey as a reason to reduce your offer, I'd want to see a copy of it. If the valuation at the end said the agreed price was fair, then I'd be handing it straight back to you and pointing to that bit.

Davesnave

AdrianC wrote: »

So you've had a survey....

Not yet.

We are in total speculation territory at present.

AdrianC

Davesnave wrote: »

Not yet.

We are in total speculation territory at present.

Ah, yes. Good point.

Which begs the question about how this issue has been noticed post-offer but couldn't possibly have been noticed pre-offer.

TBagpuss

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..

There are two possibilities.
One is that the work which needs doing was clear when you viewed the house, in which case the sellers have not hidden or concealed anything, and your offer was presumably made taking into account that obvious work

OR

The new information came to light as a result of a survey in which case you have no way of wknowing whether or not he sellers were alreay aware of it, and the issue is whenther, in light of the survey, the value of the proeprty is lower than your offer, in which case you show the seller the relevent portions of the seuvey, including the valuation, and renegotiate or, if the value is still equal ot your offer you go ahead, knowing that you you still have a reasonable deal just not quiote as good a one as you thought you were going to get.

And if the sellers won't negotiate, you can walk away.

G_M

Davesnave wrote: »

...... it was rotten and failed its MoT.

"The dastardly cad!" I thought, "it's this bloody Common Market!"

Turns out I was right, and your story just confirms my thinking.

Oh dear! Can of worms! I fear that as the referendum approaces we're going to be swamped with examples of good/bad things originating in Europe.

Like the claim that the EU has produced 26 thousand words on how to market cabbage (a figure which actually originates from the 2nd world war).

Your car dealer would now be caught out, thanks to the EU...........

societys_child

some work is required

:huh: I can't be the only one . . . ?

My house needs some work. It'll get done when the weather improves. It ain't going to cost me much.:)

ScorpiondeRooftrouser

If you are not willing to back out over it, that has to mean that you think the house, as is, is worth the price you are paying. It can't mean anything else. So why should the price be lowered?

missprice

societys_child wrote: »

:huh: I can't be the only one . . . ?

My house needs some work. It'll get done when the weather improves. It ain't going to cost me much.:)

You are not the only one.
My house needs probably several thousand spent on it, all cosmetic stuff, internal doors, barge boards garden etc. Some will be done this summer, some when I have more money
The house I live in with partner needs about the same spending on it but in different areas, like original wood gutters. Need totally replacing and some painting of outside stuff and fence built and some old bricks taken away. But as we only just gutted the whole inside, we thought some time off from renovation would be great.

But if either house went up for sale, I would not/could not hide the faults, on the other hand they would be priced accordingly

beanandbean

Cakeguts wrote: »

The seller doesn't have to tell you what you might choose to spend your money on. You say the repair needs doing but the seller is living in the house now without it being done. I expect you could also live in the house without doing the repair? If you do the repair then that is your choice. Nothing to do with the seller.

Our seller was living in the house with a roof that ultimately, due to her lack of funds to fix it in its early stages, needs complete replacement. Costing a quoted £10,000.
So quite a repair, not one we could live without doing.

OP, we tried to negotiate £10k off the price after survey showed this, our renegotiation was rejected. We walked away.
We couldn't afford the house plus the extra for replacement roof.
If you can afford it and you really do love the house just do it, otherwise bite your tongue and walk away.