Putting in lower offer after survey

redmist1333

I'm a regular poster from another account but would prefer not to be identified in case my agent / seller is reading this.

I had an offer accepted on a house a while back and after the survey threw up some issues I got in a builder, plumber and electrician to look at some stuff. The seller and agent have bene very cooperative and the upshot is that although we budgeted for a bunch of improvements, we're going to have to do quite a bit of extra work that wasn't apparent from our viewings. This is stuff like a full rewire, new boiler, etc.

The building also has a somewhat chequered history, with some previous structural issues that are now fixed but (I think) could still affect resale. I wasn't aware of this when I offered (probably should have asked, but I've not bought before so didn't think to).

Based on all this, I'm planning to go back with a lower offer, knocking about 5% off the price. This would cover the rewire and most of the other additional work. To make a case for this, I'm going to mention this work and structural issues.

If I can get the price down I'm happy to move to exchange and complete ASAP.

Any suggestions about how I should broach this with the agent, or what the seller's reaction might be? I feel my concerns are pretty reasonable and it's worth a punt, but they might take umbrage that I've held off until so late in the process.

Be great to hear other people's opinions (certainly no shortage of those here!) and experiences.

G_M

To be taken seriously you need to be prepared to share with the seller the written survey report and written quotes specifying the work.


Otherwise it will be seen as just hot air and a chancer.


Even then, it's up to the seller whether they agree the work is needed, whether your quotes are fair, and whether even if they are, he is convinced another buyer would not pay what you originally offered (assuming he'snot desperate to Complete before Christmas)

MysteryMe

Is the boiler not working then? I'd have thought this time of year you would notice if the heating wasn't working.

lookstraightahead

The survey had brought up things that need paying for. Someone has to pay. If you're not happy to pay then reduce your offer. Simples. The seller can either accept or not. It doesn't matter what they think of you.

SandraX

lookstraightahead wrote: »

The survey had brought up things that need paying for. Someone has to pay. If you're not happy to pay then reduce your offer. Simples. The seller can either accept or not. It doesn't matter what they think of you.

Supply the facts and estimates for work, put in lower offer tell them you are ready to go, no messing put in a lower offer of 6% they come back with 4% meet half way at 5. But as others said it is up to the seller - with the Brexit thing, you have the upper hand so act quickly if you wish.

cybervic

It's not uncommon to renegotiate after survey but it depends on the problem and how you go about it. Seller might think a rewire is overboard unless you can produce a EICR saying the current cables/socket/switches are unsafe and required immediate action.

Provide some evidence and quotes to show that you're not just trying it on is quite important I think. Perhaps explain that quotation takes time so you could not have known about all those hidden quote earlier.

I've seen seller got p***-off and decide not selling, I've also see seller desperately to move on and very willing to take less. The bottom line is, how in love are you with the place, can you afford/be prepared to walk away?

Davesnave

redmist1333 wrote: »

The building also has a somewhat chequered history, with some previous structural issues that are now fixed but (I think) could still affect resale. I wasn't aware of this when I offered (probably should have asked, but I've not bought before so didn't think to).

If the house has had structural defects which could have affected insurance, such as subsidence, now underpinned, this is your ace card.

People don't routinely ask about the S word on viewings. It certainly does affect resale. Even if the house is now solid, it takes decades before the stigma wears away.

AdrianC

You don't mention what the valuation said, relative to your offer.

If the valuer agreed your offer was appropriate, then the house was priced to take account of the work needed.

[Deleted User]

Not sure you can get away with the new boiler unless it isn't working or its faulty in some way.

When we bought our house the boiler was 25 years old, but it was still working. It actually gave up on us about a year into living there so we had to get a new one in the end. BUT, at the time of buying the house, it was in full working order, regardless of how old it was.

Bacon_Sandwich

You asked a plumber if there was any work needed, and he said you need a new boiler.
You asked a sparky if there was any work needed, and he said you need a rewire.
You asked a builder if there was any work needed, and guess what - he said you need some builderswork doing.
havent you had a damp proofer round to tell you if you need damp proofing?
Or a double glazing salesman round to say you need new double glazing?

redmist1333

To be taken seriously you need to be prepared to share with the seller the written survey report and written quotes specifying the work.

100%. Yep, I have no problem doing this. We haven't had a range of quotes as we would do before actually getting the work done, but I'll happily share what we have.

unless you can produce a EICR saying the current cables/socket/switches are unsafe and required immediate action

That is pretty much what we have!

Supply the facts and estimates for work, put in lower offer tell them you are ready to go, no messing put in a lower offer of 6% they come back with 4% meet half way at 5

Seems sensible, my strategy will definitely be to give the seller some room to manouevre.

You don't mention what the valuation said, relative to your offer.

The mortgage went through just fine and the surveyor had no major concerns.

Not sure you can get away with the new boiler unless it isn't working or its faulty in some way.

Haha - I won't bore you with the tale of the plumbing and hot water / heating system in this place...

havent you had a damp proofer round to tell you if you need damp proofing?
Or a double glazing salesman round to say you need new double glazing?

You mean I could actually get MORE money off if I called these people?

(Actually, on that last point, the surveyor flagged these issues as being significant and I've used tradespeople who came highly-recommended to dig into these. I totally accept that I haven't done the due diligence I'd do before actually going ahead (getting further quotes for comparison, etc), but I'm clear there's significant work required in these areas.)