Buyer renegotiate after survey Help!

Jo2256

Hi,

So we are 2 weeks away from completion and our buyers has come back today and said they want work doing as a result of a survey.
There are no level 3 issues from the report, just some level 2s. The house was valued at the price they are paying.
Is it normal to renegotiate on level 2 issues from a report? I have no idea what to do. The house is 65 year old. Our buyers have said they want every number 2 issue rectified before they sign.

Oli.s

Have you already exchanged?

hazyjo

I'd say 'that's nice - let me know if you want me to recommend a couple of builders for when you move in.'

Jo2256

Not yet...i may have the wording wrong. That's what we are due to do in 2 weeks...

davidmcn

Jo2256 wrote: »

Our buyers have said they want every number 2 issue rectified before they sign.

Then I regret to advise you that you're dealing with idiots. Pretty much every property (unless it's brand new) is going to have some sort of level 2 issue, many of which are just normal routine maintenance items ("clear leaves out of gutter", that sort of thing).

And in general buyers are best advised to fix stuff themselves when they move in rather than hope that the sellers do it properly.

Think this is for your estate agents to give the buyers a reality check.

martinthebandit

Jo2256 wrote: »

Hi,

So we are 2 weeks away from completion and our buyers has come back today and said they want work doing as a result of a survey.
There are no level 3 issues from the report, just some level 2s. The house was valued at the price they are paying.
.

.......and the correct answer is

'Oh dear, that's a shame, but never mind I will put the house back on the market then, I may even add a few thousand to the price to see what extra I can get for it'

Jo2256

Thank you for all your responses. That has reassured me! Really appreciate it

Bass_9

On the face of it, that sounds ridiculous.

They have either never seen a survey before or are trying their luck.

Davesnave

To be fair, many people do not understand surveys, and there's little to encourage them to delve deeper if they already think of them as a means of getting a few £k worth of work for free. Seeing 2s is scary for the unskilled and inexperienced and, chances are, they won't have budgeted for them either.

This is where your agent can earn their money.....

Meanwhile, you have confirmation that the house is worth what the buyers offered. Indeed, it could even be worth more.

Thrugelmir

How long ago was the survey conducted?

Aspiration

I had this a few years ago. They wanted a price reduction and I told them it's best that they don't buy my house and move on.

They called the estate agent who I had already spoken to and had informed them to put the house back on the market in 48 hours unless they proceed.

I did offer to take off £500 as a gesture of goodwill as I tried to create a win/win situation and they proceeded.

If you're confident that you can sell it again then stand firm or compromise with a small reduction.

It's much better then trying to be complete work on the house you're selling.