Negotiation tips - vendor refusing to pay for surveyor's essential repairs

ypapandr

and just to add that the biggest issue is that there's no building reg for the partition glass. Essentially a wall has been knocked down without building reg and we need to check whether structural steel has been put in place. Surveyor said he couldn't see any issues but I really don't think that's a risk we can take so will need to get to the bottom of it.

need_an_answer

I've caught up with this one now and had a look at the RM link....its a very appealing property if you like your glass and don't have kids so why you are interested in a good school catchment area is possibly puzzling.

I'm sorry,in your position I wouldnt be looking at getting a reduction in price or even attempting to put that house back together I'd be running from it.


Theres a lot there that is just cosmetic styling that will go with the house move and what you will be left with is a glass box that requires constant cleaning and a shell that needs an overhaul. The picture of the loft room doesn't show the distance between the bed and that rather lovely beam but I suspect that if you were to sit up sharply in the night you might crack your head open...


The dilemmas you are having now will all become someone elses reasons for not buying if and when you come to sell.

I would think you are better of putting the thick end of £500k into a house that needs some love and care and doing it properly the way you want and it should be done rather than trying to make good someone elses rather creative attempts at a stylish interior.

sorry!

AnotherJoe

Spot on needananswer.

need_an_answer

So off I went to Zoopla and theres quite a comprehensive set of listings for this property going back as far as june 2017....loads of photos presumably with different agents where they have had a go at selling it.


Its been as high as £695k,but I'm afraid the more I look at it the more I see the clear attempt at whats the term "polishing a turd".


OP...I can see why you have gone for this one,theres very little on the market in the area unless you can up the budget to £650k where there are a few that look better done.
You clearly like this house but I really think you need to consider exactly how much it may cost you to put right the wrongs that are there.Even if you manage to get your wife to meet the vendor the chances are that £3k off the asking price wont fix all the issues. You aren't getting a house that was once valued at £695k your taking on the repair work for a house that is worth substantially lower and possibly less than the £600k its now advertised for.

You cant add value to this one going forward the only thing you will end up doing is throwing money at it to put it right which wont actually increase its value for resale above what the area is demanding.

Given the fact that the property has been on and off the market for almost 2 years and theres probably been a few agents involved I suspect the vendor is well aware what the surveys would highlight!

I'm not really a fan of these websites that pop a value on a property but what was interesting I looked on mouseprice and it seems quite spread for the street...gives yours a value of £560k and in honesty I don't think that's far off the mark given what you may need to spend on it going forward.Its essentially a 2 bed property and until the loft room is overhauled its not much more than a walk in wardrobe up there accessed by a set of stairs that you or more importantly a child could put their foot through.

ypapandr

need_an_answer wrote: »

So off I went to Zoopla and theres quite a comprehensive set of listings for this property going back as far as june 2017....loads of photos presumably with different agents where they have had a go at selling it.


Its been as high as £695k,but I'm afraid the more I look at it the more I see the clear attempt at whats the term "polishing a turd".


OP...I can see why you have gone for this one,theres very little on the market in the area unless you can up the budget to £650k where there are a few that look better done.
You clearly like this house but I really think you need to consider exactly how much it may cost you to put right the wrongs that are there.Even if you manage to get your wife to meet the vendor the chances are that £3k off the asking price wont fix all the issues. You aren't getting a house that was once valued at £695k your taking on the repair work for a house that is worth substantially lower and possibly less than the £600k its now advertised for.

You cant add value to this one going forward the only thing you will end up doing is throwing money at it to put it right which wont actually increase its value for resale above what the area is demanding.

Given the fact that the property has been on and off the market for almost 2 years and theres probably been a few agents involved I suspect the vendor is well aware what the surveys would highlight!

I'm not really a fan of these websites that pop a value on a property but what was interesting I looked on mouseprice and it seems quite spread for the street...gives yours a value of £560k and in honesty I don't think that's far off the mark given what you may need to spend on it going forward.Its essentially a 2 bed property and until the loft room is overhauled its not much more than a walk in wardrobe up there accessed by a set of stairs that you or more importantly a child could put their foot through.

I agree with what you just said 100 per cent and you are right re 650 k. I don't need the loft now (might do in the future) and don't overly care about the stairs. I don't even care about 3 k to do the chimney. BUT I do care about the risk of not having a structurally sound ground floor and I cannot see anyway I can get her to agree to have the council come over, knock some part of the wall down and check the wall (I wouldn't want that either). I also don't think we can build anything in the agreement to say this is subject to the regularisation because we won't be able to regularise pre-exchange. In the end, risk of house collapsing being too high, I will walk away from the deal. Most likely I will stay in my area (slightly more expensive) but buy a smaller 2 bed flat. When a family house will be needed (5/6 years' time), I will have a think about something bigger.

need_an_answer

So why are you looking in an area with outstanding schools if you don't actually need one?

An outstanding school can add value to an area yes I agree but just because a school is outstanding now it doesn't follow that that price increase will remain or indeed that the school will stay as an outstanding school beyond the next inspection.

If you don't need an outstanding school now theres little point paying a premium for a property now.

6 years can see a school fall from glory in the same way I've seen a school turn itself around from special measures to outstanding in the same timeframe.

need_an_answer

ypapandr wrote: »

I agree with what you just said 100 per cent and you are right re 650 k. I don't need the loft now (might do in the future) and don't overly care about the stairs. I don't even care about 3 k to do the chimney. BUT I do care about the risk of not having a structurally sound ground floor and I cannot see anyway I can get her to agree to have the council come over, knock some part of the wall down and check the wall (I wouldn't want that either). I also don't think we can build anything in the agreement to say this is subject to the regularisation because we won't be able to regularise pre-exchange. In the end, risk of house collapsing being too high, I will walk away from the deal. Most likely I will stay in my area (slightly more expensive) but buy a smaller 2 bed flat. When a family house will be needed (5/6 years' time), I will have a think about something bigger.

Don't underestimate the surveyors report you mentioned earlier that one of the recommendations was a sprinkler system...I can fully see the need for that seen as this glass wall is actually running down the side of a main exit route from the property.

I don't know how intrusive they are to fit but expect to lose plaster and ceilings as I guess electrical work will be needed.

AnotherJoe

need_an_answer wrote: »

So why are you looking in an area with outstanding schools if you don't actually need one?

An outstanding school can add value to an area yes I agree but just because a school is outstanding now it doesn't follow that that price increase will remain or indeed that the school will stay as an outstanding school beyond the next inspection.


near where i live theres a school that 15 years ago was top. Now its doing very poorly, andt he one that was doing poorly is now doing really well


If you don't need an outstanding school now theres little point paying a premium for a property now.

6 years can see a school fall from glory in the same way I've seen a school turn itself around from special measures to outstanding in the same timeframe.

Good points.

ypapandr

need_an_answer wrote: »

Don't underestimate the surveyors report you mentioned earlier that one of the recommendations was a sprinkler system...I can fully see the need for that seen as this glass wall is actually running down the side of a main exit route from the property.

I don't know how intrusive they are to fit but expect to lose plaster and ceilings as I guess electrical work will be needed.

That's another excellent point as I was underestimating that

k3lvc

need_an_answer wrote: »

6 years can see a school fall from glory in the same way I've seen a school turn itself around from special measures to outstanding in the same timeframe.

It can happen in a damn sight less than 6yrs - outstanding to Special Measures in 18mths close to us :eek:


Playing the school gamble when you don't have kids is a tough call