Survey and estate agent

Gotkeys

I've had a structural survey carried out on a house I've had an offer accepted on. Following this I want to reduce my offer, however the estate agent will not discuss this unless I send them a copy of the survey. I'm happy to do this, unless anyone could give me a reason why I shouldn't? Thanks

princeofpounds

In theory the survey doesn't belong to you, it belongs to the surveyor who keeps the intellectual property rights. Under fair use provisions, you are allowed to distribute relevant excerpts of it, but you are not supposed to distribute wholesale copies. However, I'm sure it happens often enough and I've never heard of anyone getting in trouble for it. 

As to why the EA wants it? Partially as useful intelligence for them and the vendors on what a surveyor may spot in the building. They are also probably hoping there is a valuation in there which matches your offer, implying that although a problem has been identified you are not overpaying for the building.

It is of course fair enough that you provide some evidence of your rationale for lowering the price. It's not technically necessary, but many people wouldn't give the request any consideration without it, as it would display bad faith negotiation from your original offer. 

davidmcn

I would restrict it to the relevant section(s), you don't necessarily want to give them a useful full copy for free.

moneysavinghero

Estate Agent is legally bound to pass on your offer. Just give them your revised offer. If you want to discuss it, discuss it with the vendor, why get the monkey involved when you can talk to the organ grinder?

youth_leader

Can you get realistic quotes for the work that the survey highlighted, to justify your renegotiation?  I was infuriated by the ridiculous quotes my buyer gave, I think he was going to repoint the house in gold leaf.

AdrianC

Gotkeys said:

I've had a structural survey carried out on a house I've had an offer accepted on. Following this I want to reduce my offer, however the estate agent will not discuss this unless I send them a copy of the survey. I'm happy to do this, unless anyone could give me a reason why I shouldn't? Thanks

You should.

You are asking to renegotiate based on what is contained in it. Why would you not share the basis for that claim with the vendor?

If you're reluctant to, that does not exactly engender trust, does it? It could easily be perceived as you bluffing and hoping the vendor is happy for you to just pay less than you already agreed.

Gotkeys

AdrianC said:

Gotkeys said:

I've had a structural survey carried out on a house I've had an offer accepted on. Following this I want to reduce my offer, however the estate agent will not discuss this unless I send them a copy of the survey. I'm happy to do this, unless anyone could give me a reason why I shouldn't? Thanks

You should.

You are asking to renegotiate based on what is contained in it. Why would you not share the basis for that claim with the vendor?

If you're reluctant to, that does not exactly engender trust, does it? It could easily be perceived as you bluffing and hoping the vendor is happy for you to just pay less than you already agreed.

Happy to share it, just wasnt sure if it was the done thing. I've sent it now with a revised offer. Half way between the surveyors valuation and my original offer, so now I guess I'll just wait and see.

Gotkeys

youth_leader said:

Can you get realistic quotes for the work that the survey highlighted, to justify your renegotiation?  I was infuriated by the ridiculous quotes my buyer gave, I think he was going to repoint the house in gold leaf.

It's quite hard to get quotes for a house I don't own yet, but a few tradesmen have been willing to give me rough estimates. I think I'm being fairly realistic though, certainly no gold leaf plans anyway! 

greatcrested

As a seller, if you asked to knock of £XK because of issues in your survey I would want to see evidence of what the issues were and whether I agreed they were genuine, whether or not they were issues that you should not have reasonably been aware of already from your viewing(s), and whether the amount you wanted knocked off was reasonable for those issues.

Without evidence I'd simply refuse to renegotiate.

Tracet74

It's not recommended you pass it to the agent as it's confidential to you, however, you can copy the relevant sections.  I've heard of instances where vendors have really laid into the surveyor as they don't like what's been written, even if the report is factually correct.

AdrianC

Gotkeys said:

youth_leader said:

Can you get realistic quotes for the work that the survey highlighted, to justify your renegotiation?  I was infuriated by the ridiculous quotes my buyer gave, I think he was going to repoint the house in gold leaf.

It's quite hard to get quotes for a house I don't own yet, but a few tradesmen have been willing to give me rough estimates. I think I'm being fairly realistic though, certainly no gold leaf plans anyway! 

You can ask the trades to visit the property...