Offer accepted - damp work protocol

Loopylou1979

We are in the process of selling a property that we have rented out for the last 7 years. We have accepted an offer and their homebuyers report has been done and recommended that they had the damp looked at. We were expecting this as it is an end of terrace cottage dated 1860.


Our buyers had a 'damp specialist' come in and had a free quote which has work of nearly £10k - they would undertake this work. We have had two different independent specialists come in and we have paid for the reports, one was £45 the other was £250, they have both reported back and said approximately £4-5k worth of work.


We knew something would show up and both of the reports we have had done have come back with the same thing, the existing damp course has been covered by the floor, once that problem has been sorted it should be rectified (its a lot more indepth than this, but this is just the general jist!)


So my question is how do we do this now? Our relationship with the buyer is a good one, the EA has messed up down the line with other issues, so they want to either talk to us directly or through the solicitor. We have met them after the offer was accepted and they were very keen to point out that they do want the house.


I want to have these conversation through the solicitor, but I am fully expecting them to ask for either money to be knocked off the asking price or the work happen before we exchange. Whats the protocol when it comes to matters such as this? Our money is in that house and until we complete we won't have the extra cash, would knocking an agreed sum off the asking price normally be acceptable? Or would it normally be the full cost of the works? The offer we have accepted is already £9k under the asking price so if its the full cost we are potentially £14k down.


Any advice would be appreciated.

Thank you

student100

Read this: http://www.heritage-house.org/managing-damp-in-old-buildings.html

G_M

I would never trust or rely on a free 'survey' from a damp proof company. It is in reality a sales inspection designed to drum up work, and profit, for the company.

Your own paid-for (and presumably independant?) surveys will have no ulteria motive.

Bear this in mind (and explain it!) when negoiating and price reduction with your buyers.

If they insist on a price reduction reflecting their free 'survey', put your property back on the market. Adjust the price and make clear your asking price reflects the condition and work required.

Loopylou1979

Thank you for your response G_M. Yes, both of our surveys were independent.


I think they're keen to get the house as much as we are to sell so I'm hoping that they will see where we are coming from.