How to Renegotiate price after survey?

kelvinwebb

Hi,

Had a survey done on my prospective purchase which identified roof replacement needed soon and then some other minor work but all in all in will come to around £6-7k.

How to go back to the vendor and renegotiate, I don't want to upset them or let them think i'm not serious but at the same time I don't want to be stuck paying for the repairs that are required.

Ta

mumoftwins

Are you buying through an estate agent? If so, let them do the negotiating for you - they will want to get this sorted out asap to get it exchanged.

As for how much, I suggest you go infirst and ask if they will pay for the whole lot - they will need to see proof of what needs doing ie: survey report and any quotes for the work needed.

Otherwise, for them to meet you half way is the way I have always managed to get people to agree in the past.

Hope this helps

cattie

Speak to the ea & explain to them that a new roof certainly wasn't something you were expecting to have to budget for & ask them to try to negotiate the price down with the vendor to reflect the work needed.

It doesn't hurt to mention that with a bad winter forecast, you are worried that the roof will leak if you are not able to carry out the replacement asap & that you just haven't got the money to get the work done.

I recently needed to renegotiate on a house I'm buying, where surveyor flagged up that flat roof covering of dormer windows was damaged & in need of replacement. M

I got the roofer I've used previously to give me an idea of costs & he said he would be happy to give a quote in writing should it be needed. So I spoke to ea, told him the top end of what the roofer thought the cost would be & offered to photocopy the part of my survey that highlighted roof problem if need be for sellers info.

Ea asked what it was I was hoping for, I said the total cost would be absolutely wonderful, but if they could at least get me a reduction in price that met half the cost I'd be satisfied. Vendors agreed a reduction of 2/3rds of the cost of work, so I was happy with that.

Good luck.

LandyAndy

Just to add to the consensus a contribution of half is the least you should accept. How much more they might concede may depend on things like how far you've beaten them down already and how desperate they are to move.

When my buyer found £5k's worth of work in the survey he approached me direct and asked what I was prepared to do. I said 'meet you half way' and we shook on it there and then. It kept my sale on track and avoided having the same conversation with another buyer.