Revised Offer - What do I have to declare?

Niv

anotheruser wrote: »

I seem to have offended some people here...


I am more than happy to tell them why we've come to that conclusion, but I do I really have to list out every little cost?

It's strange as I read stories of people nearly always offering lower than the asking price (yes, sometimes higher too), so I almost thought this was commonplace. Just like a car - would you pay the list price without bargaining? Hmm.

We offered 2.4% less than the asking price - it's not £10k or anything...

Plus - it's highly unlikely our mortgage will be rejected.
The home owner has packed up and is ready to move into a new house too so would cause a lot of hassle for everyone. Looking at the housing market at the moment, maybe the home owner wouldn't get another buyer - since the EU Referendum, not many new houses have appeared in the area we're looking at.

It's not an unreasonable amount - surely?




The roof will cost just under £1000 to fix - quote from a local builder. There are other things that need doing too, like electrical safety certificate, gas safety certificate, the home owner's pets have caused a fair bit of damage. There is water marks on an internal wall. The home owner says this was from before they had a new roof but there's no guarantee that's the whole truth. Plus, that section of the house looks like a half-finished decoration.

The homebuyers report came back with some things that need doing, some mortar missing on the roof, that could cause water to get inside the walls, some issues with the side of the house potentially having rising damp in the near future - if those things had been known before the survey, we would have put in a slightly less offer. The Estate Agent encouraged us to put in an asking price offer, but after seeing the report - it's a bit of a different story.

Gas and electricity certificate is not a legal requirement - if you want it you pay for it imo

pet damage / water marks / unfinished decoration - this was present before you put your offer in - you are too late to revise offer on basis of things you are already aware of imo

mortar missing from roof - to what extent? I needed to get some pointing done on my roof a couple of years ago, cost £200 - not worth revising an offer for that

Sounds to me you have <£1000 of work that is 'news' to you. I personally would not bother revising offer on that basis.

MataNui

You are entitled to revise your offer based on results of a survey but it seem that you are basically just using it as an excuse. The survey has highlighted work of about 1k that you 'may' need to do at some point. All the other things you mention you would have seen anyway so its a bit rich revising your offer based on these.

This i think is the reason you are asking the question. You dont 'have' to tell them why you are revising the offer but:
1: If you dont tell them why you think they need to give you a 3k reduction you have f-all chance of getting one.
2: You appear to know full well that you dont actually have any valid reason to be asking for so much.
This is why you are asking what you 'have' to tell them, because you know you have no valid reason to be asking for the reduction in the first place.

Threatening to pull out is always an option and if i found i NEEDED to be paying out a lot of money or the bank massively downvalued the property then i would do the same. As it stands though nothing like that has happened. If you did pull out the seller would be in exactly the same position they were before they met you. You on the other hand will be down the survey costs and a few weeks closer to your mortgage offer expiring.