Property readvertised, even though SSTC.

M00nface

comeandgo said:

If I was your sellers I'd do the same.  You possibly do not have the money for this house repairs and could walk away leaving them with no buyer and lost months when it could be advertised.

That's completely understand. Thankyou

greatcrested

M00nface said:

greatcrested said:

It sounds like you have put the purchase on hold pending getting the quotes you want from contractors. And yet you have already negotiated a reduced purchase price based on th survey.

the sellers therefore fear/expect that once you get the quotes you will attempt to reduce the price further.

It is now time for you to commit to the purchase, or accept that the sellers will look for a buyer who is more serious.

We have made it clear we are happy to proceed at the new price. We wouldn't go any lower. We just need to know the remedial work is within our budget. If it is not then we would move on.

Well there's your answer! You are not yet committed to this purchase and might, in your own words, "move on".

So the sellers are seeking a buyer who is willing and able to commit.

If in the meantime you demonstrate your commitment I'm sure they will still sell to you, but you need to make it clear you are willing and able to buy.

M00nface

greatcrested said:

M00nface said:

greatcrested said:

It sounds like you have put the purchase on hold pending getting the quotes you want from contractors. And yet you have already negotiated a reduced purchase price based on th survey.

the sellers therefore fear/expect that once you get the quotes you will attempt to reduce the price further.

It is now time for you to commit to the purchase, or accept that the sellers will look for a buyer who is more serious.

We have made it clear we are happy to proceed at the new price. We wouldn't go any lower. We just need to know the remedial work is within our budget. If it is not then we would move on.

Well there's your answer! You are not yet committed to this purchase and might, in your own words, "move on".

So the sellers are seeking a buyer who is willing and able to commit.

If in the meantime you demonstrate your commitment I'm sure they will still sell to you, but you need to make it clear you are willing and able to buy.

Thankyou. We do love this house and we don't feel we've found a house that compares. We came into this thinking if a house needs a lot of work, to walk away, but we found a house that we are willing to pay for work, all we need to know is if we can realistically afford it. So yes i guess you're right that we could walk away, but the only thing that would stop us is if the money doesn't let us. Thankyou for your perspective. 

anselld

What is the required remedial work?  Is it all required instantly or can it wait until funds permit.  Surely you can find someone with sufficient experience to give a rough idea of budget based on the survey findings.  If you love the house you need to take on some risk in order to secure it.

M00nface

anselld said:

What is the required remedial work?  Is it all required instantly or can it wait until funds permit.  Surely you can find someone with sufficient experience to give a rough idea of budget based on the survey findings.  If you love the house you need to take on some risk in order to secure it.

Some of it was immediate work required. Like the roofing both inside and outside of the property and sagging Cielings, possible asbestos too. 
Others like the windows is something we can save up for. Decorating we can do ourselves which it also needs. Yes we have been also asking people for estimates based on the report. 

Thrugelmir

M00nface said:

anselld said:

What is the required remedial work?  Is it all required instantly or can it wait until funds permit.  Surely you can find someone with sufficient experience to give a rough idea of budget based on the survey findings.  If you love the house you need to take on some risk in order to secure it.

Some of it was immediate work required. Like the roofing both inside and outside of the property and sagging Cielings, possible asbestos too. 
Others like the windows is something we can save up for. Decorating we can do ourselves which it also needs. Yes we have been also asking people for estimates based on the report. 

You should have been costing the work before making serious offers and making a mortgage application. 
Who is above the vendors in the chain? 

M00nface

Thrugelmir said:

M00nface said:

anselld said:

What is the required remedial work?  Is it all required instantly or can it wait until funds permit.  Surely you can find someone with sufficient experience to give a rough idea of budget based on the survey findings.  If you love the house you need to take on some risk in order to secure it.

Some of it was immediate work required. Like the roofing both inside and outside of the property and sagging Cielings, possible asbestos too. 
Others like the windows is something we can save up for. Decorating we can do ourselves which it also needs. Yes we have been also asking people for estimates based on the report. 

You should have been costing the work before making serious offers and making a mortgage application. 
Who is above the vendors in the chain? 

We didn't know any of the remedial work was needed until it came back from the survey, which we paid for with our mortgage application, which we applied for after we made an offer and was accepted.... 

Thrugelmir

M00nface said:

Thrugelmir said:

M00nface said:

anselld said:

What is the required remedial work?  Is it all required instantly or can it wait until funds permit.  Surely you can find someone with sufficient experience to give a rough idea of budget based on the survey findings.  If you love the house you need to take on some risk in order to secure it.

Some of it was immediate work required. Like the roofing both inside and outside of the property and sagging Cielings, possible asbestos too. 
Others like the windows is something we can save up for. Decorating we can do ourselves which it also needs. Yes we have been also asking people for estimates based on the report. 

You should have been costing the work before making serious offers and making a mortgage application. 
Who is above the vendors in the chain? 

We didn't know any of the remedial work was needed until it came back from the survey, which we paid for with our mortgage application, which we applied for after we made an offer and was accepted.... 

The remedial work has been priced into the lower valuation. My roof was mentioned when I bought my current property. Nine years later we finally replaced it. Had no maintenance issues either in the intervening period. Houses are like cars. Older ones constantly require a spend. 

M00nface

Thrugelmir said:

M00nface said:

Thrugelmir said:

M00nface said:

anselld said:

What is the required remedial work?  Is it all required instantly or can it wait until funds permit.  Surely you can find someone with sufficient experience to give a rough idea of budget based on the survey findings.  If you love the house you need to take on some risk in order to secure it.

Some of it was immediate work required. Like the roofing both inside and outside of the property and sagging Cielings, possible asbestos too. 
Others like the windows is something we can save up for. Decorating we can do ourselves which it also needs. Yes we have been also asking people for estimates based on the report. 

You should have been costing the work before making serious offers and making a mortgage application. 
Who is above the vendors in the chain? 

We didn't know any of the remedial work was needed until it came back from the survey, which we paid for with our mortgage application, which we applied for after we made an offer and was accepted.... 

The remedial work has been priced into the lower valuation. My roof was mentioned when I bought my current property. Nine years later we finally replaced it. Had no maintenance issues either in the intervening period. Houses are like cars. Older ones constantly require a spend. 

Yeh we knew it was an older house so definitely expected some reds back on the report. So if it was down valued to 200k, that would be the price including the remedial work? I assumed it was down valued so much it needed that much remedial work. This is all new to us so sorry if I'm not understanding things! 

MovingForwards

@M00nface it's been valued at the condition it was in on the day the surveyor did the survey. It's not been valued based on having the repairs done.