Making an offer

Kaz2988

My partner and I - first-time buyers - have found a house we love at OIEO £200k. However, my parents have looked around and have warned us of a few things. Firstly, there are signs of wet rot on the bathroom floor. Then, there are signs of damp in the cellar and woodworms outside.

We've gone up to an offer of £180k but have been rejected, and think we may get rejected again unless we go to 200. However, if there is extensive work likely to be needed, we need to keep some of our deposit back.

How successful are we likely to be if we made an offer of £200k but asked the vendor to reduce the price by the cost of the repairs once an independent structural survey was completed? Alternatively, are there any other options?

Derboy

Daft question, the answer to which completely depends on the vendor.

Are your parents surveyors? Speak to the vendor. Discuss your concerns and then make a decision based on the information at hand. You're asking the members of this forum to read the mind of someone they know nothing about and have never met!

My own opinion is that if I were selling a house for £200k, I don't think I could afford to drop £20 grand because someone's mum and dad think there's damp and woodworm. Even if it is the case, I'd need to hold out for the amount I need to facilitate my own move.

Your vendor may be completely different however, hence why you should speak to them.

eddddy

If you want, you can say to the EA:

"I'm offering £200k, but that's at the absolute top of my budget, so if the survey identifies any urgent repairs, I'll have to reduce my offer to reflect the cost."

But, any of the following could happen...

- the seller may reject your offer because it's too risky (i.e. they want to hold out for a less riskier offer from somebody else)

- the seller may accept your offer, but later refuse to budge on price (so you've lost your survey/legal fees)

- the EA only passes on the £200k offer, without mentioning the other bit (i.e. hoping so resolve any issues if/when they arise)


Or everything might work out exactly as you hoped!