Are the vendors trying to hide something?

Tess2017

I'm in the process of buying (what seems to be) a nice little house. I made a couple of offers just shy of the asking price, but was told the vendors were not prepared to accept less than asking. The house seemed ideal, the price was within my budget and all seemed well so I made an offer of the asking price, which was accepted.

I had my homebuyers survey done at the same time as the mortgage valuation, which flagged a few issues. It turns out there's no building regs for a load bearing wall that's been taken down and a new roof covering, there's no mundic test (my mortgage company are obviously insisting on this) and there's some issues with a chimney and a Perspex roof. The vendors solicitors were really cagey about all of this, giving one word answers to my solicitors queries.

It then transpired that the vendors had only bought the house ~12months ago, at a bargain price (25k less than I've offered) as they bought "sold as seen", no surveys or searches (how they got a mortgage I don't know!)

The vendors have tried to put pressure on me (via the EA) to buy "sold as seen" - i.e no price reduction for work required as vendors could not afford to reduce. I advised that I'd need to get quotes for the work required and I was not under any cicumstances buying sold as seen - it's a house, not a second hand sofa!!.

I've asked to have a mundic test, get someone in to check the drains and a builder to quote for repair work. The latest development is an offer of a £2k reduction in price if I agree to forgoe all of these inspections. (Aside from mundic which mortgage company won't proceed without). If I don't agree they'all re-list the property.

I'm getting a horrible feeling that they're behaving like this because they have something to hide, especially as they're selling so quickly. I've told them I'm not willing to proceed without checking everything is ok and if they want to find another buyer they're welcome to. I'm a first time buyer, buying on my own, so maybe Im being a bit over cautious as this is a HUGE investment for me...

Have I done the right thing or am I being unreasonable???

HouseBuyer77

Sounds like you're being entirely sensible and reasonable.

Personally I'd be considering walking away at this point, but it does depend on how much you want this property.

Given it's big investment for you and you're a first time buyer you might consider if you want a house that's got less potential problems. Here you will be spending money to simply get the surveys to understand if there are any issues. Then if there are you have to actually organise for the work to be done and remember any discount negotiated isn't money in your pocket it's money off your mortgage so if there's a significant amount of work required you need to work out how that's financed.

Out,_Vile_Jelly

Unless the house is totally unique and you are prepared to spend time and money fixing known and unknown issues, then you should look elsewhere. Massive red flag screaming alert all round.

G_M

Just proceed in the normal way. Get the surveys and tests done which you want, and then adjust your offer if you feel it is appropriate.

ignore the 'pressure' and stupid 'sold as seen' suggestions.

Or agree to a sold as seen purchase if they agree to a £25K price drop.

Solicitors often use 1 word answers. The number of words is irrelevant - what matters is what that word was!

hazyjo

How far into the process are you? I'm usually 100% on the buyer's side saying get whatever test/report you want, but I'm currently a seller who feels a bit mucked around by a slow buyer. The entire chain is ready to exchange and they had a last minute full structural survey in Week 11 and now a structural engineer's report in Week 12.

We have already discussed what we will do if they then want a builder or three round for a quote - and it won't be a particularly favourable or friendly response!

Guess I'm saying if you're 5 months rather than 5 weeks in, I get their frustration.

On face value, it looks like they're hiding something though and trying to force your hand. Don't be bullied into it. See what else is out there. Why have they said they are selling? Not sure I'd be so suspicious, but they are IMO acting like a couple who are separating/divorcing.

Tess2017

Thanks everyone.

We're about seven weeks in. I had my survey done in the first week and the past six weeks have been waiting for them to answer my solicitors queries, and for them to find a property. They've suddenly had an offer accepted on a house with no chain so I think this may be why they're trying to avoid further investigations but it's a red line for me, I need to know what I'm buying and the more they try to avoid it the more I worry what they're trying to hide!

I don't really want to pull out, but I'd rather that than buy a house I can't sell. I'm not aiming to buy something I'll spend the rest of my life in, it's just the first rung on the ladder so to speak - and if I get offered a job in another city I'd want / need to be able to move quickly.

Tess2017

They've said they are selling because they want to move out of the town and into the countryside, but the new house they're buying is in a similar "town" location. They're married but only the husband is on the mortgage.

Tom99

Tell them to relist it and you have cancelled all your inspections.

hazyjo

Yeah does sound a bit dodgy then - I'd not let a vendor dictate to me what I can and can't check out. You're nowhere near exchange (unlike me) so it sounds like they're lying about or hiding something. They don't sound like vendors I'd particularly want to deal with...

Lulu0110

Can you even get a mortgage if there is no permission and I would be as wary as you regarding the lode bearing walls. Any insurance claim you made if there was a problem would be declined if there was a bad error made in the construction. Personally I would walk away, they sound like they are trying to bully you to cover something up. Plenty more houses about.

moneyistooshorttomention

In your position - I'd decide they were trying to take advantage of my FTB status to treat me like a gullible idiot - and I'd walk....

All the more so - as you're already planning to sell the house on at some point - so you really don't want to have to spend time/money on something that's already "done" as far as you're concerned.

How do you think anyone subsequently buying this house off you would feel? There's your answer I think.....:cool: