Where do I stand with re-negotiating my offer price?

Walter_and_Kristy

Can anybody please advise me?
I am a first time buyer and I have recently found a 3 bedroom (vacant ex-rental) property that has had my offer accepted.
I have had my mortgage agreed and been informed that I am roughly 3 weeks away from completion (just awaiting searches).
I've been to view the property (3rd time) this week and took along a friend with me that is a Buildings Surveyor by profession, who highlighted to me that there is some serious structural work needed to be carried out within the loft space/roof of the property due to some unprofessional work being completed in the past (what I believe to be an attempt at a loft conversion).
The property owner was fully aware of this but chose not to inform me and the original survey that was carried out on the property did not pick up on the hazard (due to being unable to access the loft).
I have been quoted a rough figure of £5,000 to get the remedial work carried out.
I am now trying to re-negotiate my offer price with the current owner (who did pass comment that he would not be willing to drop the price whilst my surveyor was questioning him about the roof) and would appreciate any advice that anyone can give.
Unfortunately (or consequently!) due to the offer being made on the house before September 10th, a 'Home Information Pack' was not provided - Would this report have highlighted the defect? and if the current owner was to put the property back on the market will this now be a legal requirement?
Many thanks.

Doozergirl

A HIP would not have helped you unless they had chosen to have an optional Home Condition Report, which I doubt anyone has paid for!

If the property was marketed in anyway before 10th Spetember, then no, they will not need a HIP.

I suggest you get some proper quotes for the work, submit them to the vendor and see what happens... I can imagine a vendor not being entirely impressesd by you turning up with a 'building surveyor' who says there is £5000 of work to do, after the intial survey came back clear.

irnbru_2

Walter_and_Kristy wrote: »

I am now trying to re-negotiate my offer price with the current owner (who did pass comment that he would not be willing to drop the price whilst my surveyor was questioning him about the roof) and would appreciate any advice that anyone can give.

Get a structural survey to backup your claim.

You need to convince the EA to convince their client that the loft will affect any other offers.

You need to decide how much you want the house and at which point you'll walk away if no agreement can be reached.

pinkshoes

Was the loft advertised in the sale of the house as a useable room, and is its current condition dangerous (not as a room, but as loft space)?

If it wasn't sold as being a usable room, and isn't dangerous, then they haven't actually done anything wrong. If it is dangerous (as loft space if sold as loft space, or as room if sold as room), then you should attempt to negotiate. If they say no, then it depends on how much you want the property... you can pull out or offer the asking price.

kennyboy66_2

Walter_and_Kristy wrote: »

Can anybody please advise me?
I am a first time buyer and I have recently found a 3 bedroom (vacant ex-rental) property that has had my offer accepted.
I have had my mortgage agreed and been informed that I am roughly 3 weeks away from completion (just awaiting searches).
I've been to view the property (3rd time) this week and took along a friend with me that is a Buildings Surveyor by profession, who highlighted to me that there is some serious structural work needed to be carried out within the loft space/roof of the property due to some unprofessional work being completed in the past (what I believe to be an attempt at a loft conversion).
The property owner was fully aware of this but chose not to inform me and the original survey that was carried out on the property did not pick up on the hazard (due to being unable to access the loft).
I have been quoted a rough figure of £5,000 to get the remedial work carried out.
I am now trying to re-negotiate my offer price with the current owner (who did pass comment that he would not be willing to drop the price whilst my surveyor was questioning him about the roof) and would appreciate any advice that anyone can give.
Unfortunately (or consequently!) due to the offer being made on the house before September 10th, a 'Home Information Pack' was not provided - Would this report have highlighted the defect? and if the current owner was to put the property back on the market will this now be a legal requirement?
Many thanks.

You could get a full structural survey - but this in no way guarantees that the vendor will reduce the price.

I would just see if you could get an estimate.

Of course he would say he won't drop the price.

I would reduce the offer by £5k & probably be prepared to settle for a £4k reduction in the selling price. If vendor plays hardball I would suggest you walk away.

Put yourself in the vendors shoes - if you don't buy it, it goes back on the market, possible sits for another few months at least and sells for less than your offering. Prices & transactions are likely to go only one way and thats down.

You are buying from a landlord - I would have no embarassment at offering less or pulling out.