Negotiating house price after survey.

DavidCurtis89

Hi everyone, thanks for taking the time to read, currently looking for some advice.

I’m a first time buyer who had an offer accepted recently for a property. Property is not part of a chain as it’s some people who inherited property from their late mother who are selling.

Property was initially listed for OIRO £130,000. I had an offer accepted on the property of £121,000 after attending second viewing with family member who is a builder. He pointed out some things that needed doing - (All windows needed replacing, pointing on ridge tiles, replacing flat roof in one story extension kitchen).

Since then I have had a survey done and it has come back with the things that had been pointed out. It has also highlighted:

-Excessive moisture in the walls downstairs which is causing damage to concrete floor and walls.
-Sagging on roof which will neee to be reenforced.
-External woodwork such as facias, window sills etc needing to be replaced as rotten.
-Window on external shed outbuilding needing to be replaced due to rot.
-Repointing on boundary wall.
-Asbestos garage roof (metal sheet build with asbestos roof which we were actually going to remove from the bottom of the garden as there is already a brick built garage at the side of the property).
-Damage to ceiling in ground floor cracks etc which will need to be fixed but also textured ceiling which is more than likely to contain asbestos (also wanted this replacing).
-Electrics although safe are outdated and will likely need to be updated to bring up to current regulations.
-Some pointing that has already been carried out was done with incorrect material and is too strong for the bricks and likely to cause more damage than it saves so would need to be redone.
-Springing in suspended wooden floor upstairs.
-Step cracks in brickwork above/below windows (up 11 bricks in some of them) which would need to be investigated although potentially from when windows have previously been installed.
-Roof insulation not up to current requirements.

As a first time buyer I haven’t got much knowledge about it all, and I’m not sure if this would be enough where I should consider walking away or trying to negotiate a reduction in price? Other concern is I’ve got about £2,000 to play with, so even if say total cost (guess!) was £10,000 to get work done, and they reduced price by a further £10,000 to cover it, I wouldn’t actually have the money th carry out the works straight away?

Survey also states that £121,000 is a fair price for the property based on the work being up to date but actually says I should be renegotiating my offer based on what has been flagged in the survey.

Very confused and concerned and if anyone has any advice at all on what they would look at or consider in my position that would be great.

Many thanks.

DavidCurtis89

Oh and also just remembered he also said about the flu for the chimney needing investigation as well because of having been sealed up partly due to ventilation and partly due to see if it has been done properly and make sure the chimney and fly is safe etc?

Cakeguts

It sounds to me as if it is going to need a bit too much work for a 1st time buyer.

AdrianC

DavidCurtis89 wrote: »

I’m a first time buyer who had an offer accepted recently for a property. Property is not part of a chain as it’s some people who inherited property from their late mother who are selling.

That usually implies quite a few things about the condition of a property. The estate agent platitude is "would benefit from modernisation"...

Since then I have had a survey done and it has come back with the things that had been pointed out. It has also highlighted:


-Excessive moisture in the walls downstairs which is causing damage to concrete floor and walls which wasn’t noticed.

<raises eyebrows>
Ah, damp...


Damp is usually really easy to sort. Fix whatever's causing it to come in - high ground levels, damaged gutters, shrubbery - that sort of thing. But it scares the living bewhatsits from buyers, and that's nice and lucrative... EVERY house built since Victorian times MUST have a damp-proof course.

-Sagging on roof which will neee to be teen forced.

Another classic deserving of scepticism. Does the roof look straight, when you stand well back and look at it from outside? What's it look like in the loft?

-External woodwork such as facias, window sills etc needing to be replaced as rotten.
-Window on external shed outbuilding needing to Ben replaced due to rot.
-Repointing on boundary wall.

All blindingly obvious to a quick glance.

-Asbestos garage roof (metal sheet build with asbestos roof which we were actually going to remove from the bottom of the garden as there is already a brick built garage at the side of the property).

Asbestos roofing sheet is nowhere near as scary as it sounds. Just don't use powertools on it, and don't break it up as you remove it. Your local tip will probably take it, suitably bagged. The biggest risk it poses is if you fall off the ladder while fannying with it.

-Damage to ceiling in ground floor cracks etc

Again, obvious.

which will need to be fixed but also textured ceiling which is more than likely to contain asbestos (also wanted this replacing).

Yep, just like all older houses.

-Electrics although safe are outdated and will likely need to be updated to bring up to current regulations.

Yep, just like all older houses.

-Some pointing that has already been carried out was done with incorrect material and is too strong for the bricks and likely to cause more damage than it saves so would need to be redone.
-Springing in suspended wooden floor upstairs.

The scaremongering's strong in this surveyor...

-Step cracks in brickwork above/below windows (up 11 bricks in some of them) which would need to be investigated although potentially from when windows have previously been installed.

Pic?

-Roof insulation not up to current requirements.

Seriously...?

As a first time buyer I haven’t got much knowledge about it all, and I’m not sure if this would be enough where I should consider walking away or trying to negotiate a reduction in price? Other concern is I’ve got about £2,000 to play with, so even if say total cost (guess!) was £10,000 to get work done, and they reduced price by a further £10,000 to cover it, I wouldn’t actually have the money th carry out the works straight away?

Take a seat. Make yourself comfy. We need to talk...


You're buying an older property that's a probate sale. It's probably not had a lick of paint in decades. I can smell the carpet from here. Is the bathroom avocado, by any chance?


And you're worrying about whether to walk away rather than spend a weekend in your old jeans and t-shirt, shoving another layer of fluffy into the loft...?

Oh and also just remembered he also said about the flu for the chimney needing investigation as well because of having been sealed up partly due to ventilation and partly due to see if it has been done properly and make sure the chimney and fly is safe etc?

He has a VERY well-covered backside, this surveyor.

Survey also states that £121,000 is a fair price for the property based on the work being up to date

Bingo.


This is the moneyshot.

YOU ARE PAYING THE RIGHT PRICE FOR THE PROPERTY, AS THE SURVEYOR SAW IT.


If I were the seller, and you tried renegotiating off the back of that survey, you'd get it handed straight back with my big hairy finger pointing your attention straight to that line...

DavidCurtis89

1950s house. Said the property would be worth £121,000 once work highlighted was completed up to standard - which to me says that it isn’t worth that currently?

Thanks for the thoughts though! I have no real experience with DIY so less about not being willing to do the work and more about not knowing about. Deffo food for thought and a stark contrast to the previous person who thought too much. Thanks for your thoughts and advice.

JB675

Why not consult an electrician and builder to give you free quotes on cost of essential repair work - essential would probably mean the electrics and asbestos roof. Then based on that you can ask for a reduction or even the seller to get this done prior to exchange.
Probably just be a couple of grand though, tops.
Best of luck.
JB

DavidCurtis89

Also, didn’t say need an mosernisation. Was previously rented and the tenants did some general decorating etc. It’s all just been wallpapered new carpets etc but yeah deffo not in need of modernisation per so other than personal taste. From what I can see it would be liveable.

JB675

Because the surveyor did say it was a fair price subject to work being up to date, but the electrics and asbestos roof are not.

AdrianC

No house in the UK has electrics that are "up to date", except those that have been either built or rewired in the 18 months since Amendment 3 of the 17th Edition of BS7671 IEE Wiring Regulations came into force.

...and they won't be, very shortly, because the 18th Edition is due to be published this year.

kinger101

DavidCurtis89 wrote: »

-Excessive moisture in the walls downstairs which is causing damage to concrete floor and walls which wasn’t noticed.

Noticed by whom? Your surveyor spotted it

-Sagging on roof which will neee to be teen forced.

Teen forced? Preteens might do it for half the cost. Shop around

-External woodwork such as facias, window sills etc needing to be replaced as rotten.

Was this obvious without a surveyor? No discounts for kicking in an open door

-Window on external shed outbuilding needing to Ben replaced due to rot.

Dan will do it for half the price of Ben, albeit at a slightly slower place, and with more colourful language.

-Repointing on boundary wall.

-Asbestos garage roof (metal sheet build with asbestos roof which we were actually going to remove from the bottom of the garden as there is already a brick built garage at the side of the property).

Leave it in situ. Asbestos is more of a problem when you move it
-Damage to ceiling in ground floor cracks etc which will need to be fixed but also textured ceiling which is more than likely to contain asbestos (also wanted this replacing).
Skim coat

-Electrics although safe are outdated and will likely need to be updated to bring up to current regulations.

Safe=safe.
-Some pointing that has already been carried out was done with incorrect material and is too strong for the bricks and likely to cause more damage than it saves so would need to be redone.
-Springing in suspended wooden floor upstairs.

Creaky wooden floors. Rent your house out to film production companies
-Step cracks in brickwork above/below windows (up 11 bricks in some of them) which would need to be investigated although potentially from when windows have previously been installed.

I would get a grown up to look at this

-Roof insulation not up to current requirements.

Spend a few hundred quid in B&Q

.............................................................................................................

Smodlet

The step cracking would worry me the most. It is probably caused by the absence of lintels to support the weight of the bricks above the windows but it might mean the whole place is subsiding.

It really depends on how keen you are to learn DIY skills. If you would prefer not to, perhaps walk away from this one.