Renegotiating after survey

Bey0ndcontrol

Hello,

I was hoping you could offer some advice to help me with my next steps.

My survey came back with very high damp reading And suspected rising damp in all downstairs rooms. It also noted signs of active woodworm. The property was an ex student rental and the seller has done work to get it up to scratch to sell including damp treatment. As it’s a Victorian terrace I expected damp to come up so wasn’t too worried about the damp but it did concern me it said damp tides were visible in certain areas (I hadn’t noticed this but there was a gap of about 4 weeks between me viewing the property and the survey) I decided after so reading advice on previous forums to pay an independent damp surveyor to visit hoping he would just say it’s something minor and a quick fix. Unfortunately it’s the exact opposite.
The whole house needs woodworm treatment, the active woodworm is mainly in the downstairs electricity cupboard but as it’s hatching season and as they fly up he said the whole house needs to be treated.
There is also substantial damp issues. I’m waiting for the official report but he said it’s the joining between the floor
Boards and the walls which are causing the issues. The whole of the ground needs treating. He suspects the cost of everything will be about £12k. I know I should wait for the report but I am impatient so any advice or tips now would be greatly appreciated!

One extra thing to add the estate agents have sold lots of houses for the seller as she is selling off all her properties, they mentioned before she won’t ever renegotiate on price after a survey. I’ve not spoken to the estate agents yet I’m waiting for the official report. I paid the asking price for the property so I’m hoping that will give me some wiggle room. Also there’s loads of things mentioned in the survey such as the roof and windows that need replacing which I’m happy to absorb he cost for. Any tips?

Lolly88

Did the valuation indicate the house was overvalued? If not it sounds like you might have a hard sell as the vendor has already indicated her position on negotiations. Before negotiations decide for yourself how much you want the proprty and the maximum you are prepared to pay for it given the additional information you have to hand. And if the seller is not prepared to negotiate then be prepared to walk away.

macman

You didn't 'pay the asking price'. You made an offer at the asking price, which you are now free to reduce or withdraw.
No one can tell you whether the vendor will negotiate or not, but you can always start low and then increase again.

SG27

I wouldnt be too concerned about the woodworm it will die out once the damp is fixed. Woodworm only eat damp wood. However you will want to get it treated purely for the certificates when you come to sell.

You need to see the full report. It may not need treating. It may need external floors levels reducing, french drains installed etc.

I would certainly be using this to renegotiate. If she wants to sell she has no choice really. Maybe try knocking £12k off with the hope of settling at £6k?

Bey0ndcontrol

Hi, the valuation came out as the asking price. So that’s a positive

Bey0ndcontrol

thanks, I’ll wait for the main report. I’m just impatient :rotfl:

Lolly88

Bey0ndcontrol wrote: »

Hi, the valuation came out as the asking price. So that!!!8217;s a positive

Well actually in the context of your negotiations it's actually not. If the valuation came up as priced then the vendor could likely argue that the house is priced to reflect the work needed.

stueyhants

Surely if the damp report hasn!!!8217;t come back yet the valuation survey is only based on the house as seen and doesn!!!8217;t reflect the damp issues so it!!!8217;s still reasonable to ask for the £12k. Fundamentally it comes down to what is the demand like in your area, if houses are still selling well you will have to pay the full price. If demand has slowed and the market has turned which it has in some areas they you have a much greater chance of getting something off the price.