Offer Negotiations after survey who deals with it ??

Unicorner123

Before lockdown we were in the process of purchasing a property, we were aware certain amount of work would be required rewire modernisation etc, but since then we have had the survey results which show a lot more work is required damp proofing, wall ties etc and many more defects the survey gave us a rough estimate of costs involved etc and does come to a considerable amount and obviously our accepted offer didnt reflect this, we are also now aware of the market changes and need to negotiate how is the best way of doing this does our solicitor do this on our behalf or ourselves with the estate agent and hows the best way of going about it please 
thanks for reading

blue_max_3

It's for you to go back to the agent to make your proposed revision of the offer to the vendor. 
Hopefully you will enter a negotiation. Potentially they may accept or they could just turn you down.
I wouldn't get involved in the nitty gritty of the report. Keep it simple and make your offer.

greatcrested

you only need toinvolve your conveyancer once a new price has been agreed (or the purchase has collapsed).

eidand

negotiating is up to you, you're the buyer.

eddddy

Assuming the EA is paid a fee on completion, it will work like this:

You tell the EA that you are reducing your offer to £x, because of a,b and c.

The EA's top priority will be to 'protect the sale' and make sure it still happens. So the EA will do 2 things:

• Try to persuade you not to reduce your offer, or to reduce it by less
• Try to persuade the seller to accept a reduced offer 

So depending on the EA, the EA might try to do this by 'charming' you, by scaring you, by making you feel stupid, by attempting to call your bluff etc, etc.

But it's always helpful to give the EA lots of 'ammunition' that he/she can use when trying to persuade the seller - that might include a clear and logical explanation of why a reduction is fair.

And you have to make it sound like you will walk away unless you get the reduction, otherwise you're unlikely to get a reduction. 

purple_ck

When i was renegotiating a lower offer I went through my solicitor, however I feel looking back I should have went via the Estate Agent. The sale has since fell through because we waited a week to hear back from the seller, they were not willing to accept and the lawyer didn't put up much negotiating on our part.

Thrugelmir

purple_ck said:

When i was renegotiating a lower offer I went through my solicitor, however I feel looking back I should have went via the Estate Agent. The sale has since fell through because we waited a week to hear back from the seller, they were not willing to accept and the lawyer didn't put up much negotiating on our part.

Unless you were willing to up the price. Probably wouldn't make any difference. 

purple_ck

Thrugelmir said:

purple_ck said:

When i was renegotiating a lower offer I went through my solicitor, however I feel looking back I should have went via the Estate Agent. The sale has since fell through because we waited a week to hear back from the seller, they were not willing to accept and the lawyer didn't put up much negotiating on our part.

Unless you were willing to up the price. Probably wouldn't make any difference. 

Aw okay, you are probably right - the seller was not for budging I don't think. It was a drop of 3k (to match the home report value) and the seller was still making money on what he purchased it for, was a shame we couldn't agree.