Ask for a reduction...?

pompeyred

Hi All

Please can you help with your expert advice and guidance...?

We had a homebuyers survey which recorded high moisture readings in some of the downstairs rooms. This prompted our lender to withhold £5,000 from their offer pending further independent investigation. This was despite the current owners having completed a damp proof course with a remaining 20 years on a guarantee.

Anyway, we commissioned an independent survey which confirms some works being needed, in the most immediate part this is hacking off and replastering some walls with a more suited covering.

Following this was a concern from a bounce test (jumping up and down) which notes excessive movement and a need to install two more air brick vents.

The suggested costs for all of this work is approximately £5k (almost bang on to the mortgage provider withhold amount). My request for your help is this - should we ask the seller to reduce the amount - would this be normal.......?

We paid over the asking price and the property had lots of interest (4 bids at or above asking price).

We're now about £1,000 in on our costs, very grateful for any advice, we like this place so don't want to appear bullish.

sheff6107

Yes, normal for a buyer to reduce their offer if the survey comes back with some work needed.

The seller could of course reject it and the sale could fall through. Or they may come back and suggest splitting the difference and knocking £2.5k off.

Davesnave

The problem for you is that the interest in the house, if genuine, isn't normal.

The seller may consider a reduction,or meet you half way, but in the market conditions you describe, they might also decide to go with another purchaser.

I think it depends on how tricky and inconveniencing that might be for them. So, for a BTL investor or other person not selling their own home, negotiation will be less likely.

pompeyred

Thanks for your replies, we'd be happy to meet part way, I'll call the agents on Tuesday to canvass thought. We're not part of a chain whereas they are, I'm hoping to not move and immediately have to pay out 5k, which doesn't include the redecoration costs either.

G_M

pompeyred wrote: »

......

Anyway, we commissioned an independent survey which confirms some works being needed, in the most immediate part this is hacking off and replastering some walls with a more suited covering.

Following this was a concern from a bounce test (jumping up and down) which notes excessive movement and a need to install two more air brick vents.

You say this survey was independant. Was it truly? What did it cost and did the firm that did the survey offer to do the remedial work?

I don't see how hacking off and replastering a wall can cure damp. It may remove damp plaster, but unless it also identifies the source of the damp, and cures that, it will return. Indeed, fixing the source and then letting the plaster dry out naturally may be better.

Though of course without eeing the report, or the property, one can't be sure.

2 air bricks? £3 each and half an hour's labour.

pompeyred

We had to use someone on the PCA website. He definitely was independent and not part of a company which can provide the solutions. The costs were two fold:

Plastering
i. Removal and subsequent renewal of the skirting boards. ii. Removal of the contaminated wallplaster to a height of 1.2 metres above floor level. iii. Installation of a new horizontal DPC to the walls shown utilising silicone based DPC cream such as Dryzone from Safeguard Europe, or equal/equivalent. iv. Re-plastering of the prepared wall utilising a salt retardant re-plastering system such as Renderguard Gold or equal/equivalent as per the specification suggested by Insite Limited. v. Renewal of the skirting boards ensuring that the wall facing sides are primed with aluminium wood primer/sealer. vi. Re-decoration of the treated walls utilising vapour permeable emulsion paint.

Front room floor
The worst case scenario here is that the floor timbers and sleeper walls will require removal and re-construction; a budget cost for such works is likely to run to £2,500.00 - £3,000.00.

G_M

well NOW you tell us!

That is a very different situation to what you originally posted!

Cakeguts

pompeyred wrote: »

We had to use someone on the PCA website. He definitely was independent and not part of a company which can provide the solutions. The costs were two fold:

Plastering
i. Removal and subsequent renewal of the skirting boards. ii. Removal of the contaminated wallplaster to a height of 1.2 metres above floor level. iii. Installation of a new horizontal DPC to the walls shown utilising silicone based DPC cream such as Dryzone from Safeguard Europe, or equal/equivalent. iv. Re-plastering of the prepared wall utilising a salt retardant re-plastering system such as Renderguard Gold or equal/equivalent as per the specification suggested by Insite Limited. v. Renewal of the skirting boards ensuring that the wall facing sides are primed with aluminium wood primer/sealer. vi. Re-decoration of the treated walls utilising vapour permeable emulsion paint.

Front room floor
The worst case scenario here is that the floor timbers and sleeper walls will require removal and re-construction; a budget cost for such works is likely to run to £2,500.00 - £3,000.00.

Can you live in a house where there is no floor in the front room? By no floor I mean just the joists and holes where the floor boards should be? You also won't know until you start if the problem has spread to any other floors.