Negotiating after surveys

EddyBaloch

Dear fellow members,

I want to ask some feedback on whether my approach is reasonable or not.

We had our RICS building survey done on prospective purchase and it came up with a lot of issues. It suggested further investigations on drainage and stability of a detached garage. We carried our further investigations which revealed cracked drainage (quote of £2000) and dangerous structural condition of garage that needs to be replaced altogether (new similar garage cost £12000).

When we placed our offer we considered that the garage repair would cost around £3000 as there were no apparent signs of instability but the structural engineer has confirmed that it is a safety hazard and must be replaced as repair is going to cost us more than replacement.

I am now thinking of requesting the sellers to fix the drain cracking (or give allowance) and give us an allowance of around £3000 (i.e. 25% of cost) of garage replacement. I won't be requesting for anything else as I understand that property was presented as it is. The property is in south london.

Do you think it is a reasonable approach?

Thanks,
Eddy.

G_M

Don't ask them to fix anything. What reason do they have to do more than the cheapest bare minimum possible, using the cheapest cowboy they can find.

Negotiate the purchase price.

Be prepared to walk away if they refuse unless you are willing to take on the extra costs because you love the house so much....

walwyn1978

Present findings, ask for (say) 8k off but expect to get (say) half of that, and as GM says be prepared to be told to do one and either walk or suck it up and pay more after completion to get them fixed.

DO NOT get them to fix it for reasons GM said above.

EddyBaloch

Thank you for your responses.

martinsurrey

EddyBaloch wrote: »

Dear fellow members,

I want to ask some feedback on whether my approach is reasonable or not.

We had our RICS building survey done on prospective purchase and it came up with a lot of issues. It suggested further investigations on drainage and stability of a detached garage. We carried our further investigations which revealed cracked drainage (quote of £2000) and dangerous structural condition of garage that needs to be replaced altogether (new similar garage cost £12000).

When we placed our offer we considered that the garage repair would cost around £3000 as there were no apparent signs of instability but the structural engineer has confirmed that it is a safety hazard and must be replaced as repair is going to cost us more than replacement.

I am now thinking of requesting the sellers to fix the drain cracking (or give allowance) and give us an allowance of around £3000 (i.e. 25% of cost) of garage replacement. I won't be requesting for anything else as I understand that property was presented as it is. The property is in south london.

Do you think it is a reasonable approach?

Thanks,
Eddy.

what did the survey value the property at?

ReadingTim

It doesn't matter what we, the internet, thinks is reasonable. The only question is whether the vendor thinks it's reasonable. Ultimately you need to consider what you'd do if the vendor thinks it isn't and won't budge an inch.

It's best not to get the vendor to fix the problems, as mentioned above. Instead, negotiate a reduction in price and fix once you've bought. You'll have more luck with getting them to pay for things which aren't visible (like drains) than things which are (like garages). But while they might pay for "needs", they're unlikely to pay for "wants", so be sure it's something the property needs, not simply something the buyer wants. And ultimately, if the surveyor thinks it's worth what you've offered, even if work is suggested/required, you're on shaky ground.

Lastly, there are no set "rules". There's no right or wrong, no third-party expert, no independent referee. Only what the vendor and buyer agree between themselves. So ask the vendor, not the internet.