How to renegotiate after multiple surveys - as they arrive or once they are all complete?

NameMSE

We are buying a house that has needed several surveys - lawyer recommended full building survey and specialist roof check up front, and the building survey has indicated we need an electrics check. Also still waiting for lender's valuation (week tomorrow).

The building survey has highlighted some hidden issues that will require a lot to put right and weren't accounted for in the original offer - we will definitely need to renegotiate. The surveyor is extremely confident there'll be more once the electrics check is done. It's always possible the valuation survey comes back low, too, though it would need to be off by enough to affect our mortgage rate for this to bother us. My question is - how best to go about the renegotiation? I can think of a few approaches but none seem ideal:

a) We renegotiate as each survey comes in based on the results. So this week ask for £X off, and then possibly have to do so again (or even twice more!) in a couple of weeks. The problem here is that it could start to seem like taking the !!!!!! if we have to go back.

b) We renegotiate a set amount now and make it clear we will also need a reduction to cover any further major issues. So 'We want £X off now, and whatever is needed to set right any serious issues with the roof/electrics). The problem here is the buyer might feel they are being asked to sign a blank cheque, and a further issue not agreed on could still turn up (e.g. the electrician finds asbestos/infestation/a dead body!). This also likely wouldn't cover a low valuation.

c) We wait until all the results are in and renegotiate then. The problem here is that the buyer will know we have survey results that show problems (since we are asking for another survey based off them) but may feel annoyed/kept in the dark because we aren't sharing them or being open about what we know or any reduction we may want.

What do you think? Is there another approach? At the moment I'm leaning towards c) but don't feel great about any. We aren't going to let ourselves get ripped off but I don't see any point in being obnoxious about renegotiation and I'd like to do it in as polite/pain free a way as possible.

giraffe69

I'd get very fed up if you kept going back to knock another few grand off. One negotiation IMO.

AdrianC

C. Wait until they're all in, then renegotiate once. 

By all means, say to the vendor "Look, the surveyor's flagged that we should get an <X> survey..." - they always do, anyway. It's just backside-covering, usually.

greatcrested

if you tried to knock off another £1K every week over a month I'd soon start looking for a more serious committed buyer.

Quite how alawyer is qualified to know a specialist roof check is needed is beyond me. Had the lawer even seen the roof.....?

FTB by any chance?

NameMSE

Thanks, everyone. Glad to see consensus that option a) isn't the way to go! It would certainly tick me off if I was the seller.

greatcrested said:

Had the lawer even seen the roof.....?

FTB by any chance?

Yes, and yes.

AdrianC said:

By all means, say to the vendor "Look, the surveyor's flagged that we should get an <X> survey..." - they always do, anyway. It's just backside-covering, usually.

This is helpful, thanks. In this case I don't think it's backside-covering, but even if it is then the peace of mind is worth it to me.

Darkslider

Every single survey is full of insights such as: 'The plumbing/drainage/electrics/gas systems look alright but I'm no expert so you should commission your own survey' as far as I'm aware unless there's an actual visual indication that some thing is very wrong with the above this is as said, !!!!!! covering and there's no need to commission multiple surveys unless there's actual concerns that need addressing. 

Obviously if there is then I'd hold on until you've got the results, but if you're commissioning these surveys based on the above advice then I wouldn't expect any major problems or reasons to renegotiate to be discovered. 

AlwaysWanderlusting

I was recently in a similar position and did C. Aside from reducing the risk of annoying the vendor, it'll also help you work out the best approach. It's very unlikely the vendor will agree to the total amount off, so you need to know where your red line is and that'll be somewhat dependent on that total understanding of work and the related costs (with a dose of realism about what is absolutely critical to do, what could wait and what is reasonable expected maintenance etc. over time).

princeofpounds

NameMSE said:

greatcrested said:

Had the lawer even seen the roof.....?

FTB by any chance?

Yes, and yes.

LOL.

OP, just be aware:
- Surveys always recommend you may wish to survey things that aren’t included as standard. Most of the time this is meaningless. Perhaps you have been advised more strongly than that.

- Any electrical survey will come up with multiple breaches of code for any property not built in the last couple of years. Electrical standards update frequently. Focus on whether it works and whether it’s safe.

- You aren’t entitled to buy a perfect property. The vendor may say - ‘thanks for the input, no renegotiation’.

Renegotiations tend to work best when they are newly-discovered problems that neither side has priced in.

- yes, renegotiate in one go.

- and, good luck

greatcrested

W

NameMSE said:

Thanks, everyone. Glad to see consensus that option a) isn't the way to go! It would certainly tick me off if I was the seller.

greatcrested said:

Had the lawer even seen the roof.....?

FTB by any chance?

Yes, and yes.

AdrianC said:

By all means, say to the vendor "Look, the surveyor's flagged that we should get an <X> survey..." - they always do, anyway. It's just backside-covering, usually.

Wow! How much did you have to pay your lawyer to do a site visit?

JonMitchell

Just out of curiosity - did OP renegotiate with the seller's EA directly or through OP's solicitor (ie buyer solicitor).
In general, how would the rest on the forum approach this? Renegotiate with EA directly showing them the survey reports or through solicitors?
Thanks