subsidence - give vendor the report?

luckyduck5

Hi all,

Currently buying a semi-detached 3-bed and had an engineer's report done due to suspected subsidence - report seems to back up the concerns.

The vendor wants to see the full report prior to any re-negotiation - I'm not against this per say, my only concern is what is to stop an underhand vendor using the report info to cover up the cracks/tell-tale signs, then going and re-selling to someone else with the problem magically gone? A diligent engineer / surveyor would still spot the issues next time round, BUT would be harder.

Is the vendor under any legal obligation not to do this sort of thing though now that they have been made aware of it?

Thanks

princeofpounds

The vendor is now under a legal obligation to disclose the problem, yes. It's not your problem anyway, if you don't end up buying the place. Future buyers will have their own professional advisers to help them.

Asking for evidence of the problems as a basis for renegotiation is perfectly normal. Show the vendor the relevant passages of the report, if you want to try a re-negotiation.

luckyduck5

Thanks PoP. It's good to know  they are legally obliged to declare the information.

You'd want them to be honest on the property information form, I guess the next buyer could come after them for fraud otherwise

Mutton_Geoff

Put it in writing. Tell the vendor if they want the report to buy it from you at cost, that way some of your costs are mitigated if the purchase doesn’t go ahead. They should take your word or commission their own report otherwise. There is no way just handing them the survey will benefit you in any way.

cattie

Mutton_Geoff said:

Put it in writing. Tell the vendor if they want the report to buy it from you at cost, that way some of your costs are mitigated if the purchase doesn’t go ahead. They should take your word or commission their own report otherwise. There is no way just handing them the survey will benefit you in any way.

I can't see any vendor wishing to pay towards a report that was commissioned by you with a view to buying the property in question, but it's perfectly normal & acceptable for a vendor to ask to see any negative report or parts of regarding their property, before agreeing to renegotiate. I would want to see evidence if it were my property in question.

You seem to be of a suspicious mind, but it would be very difficult indeed to cover up signs of subsidence from an experienced surveyor by any vendor who even thought to do such a thing. 

Tracet74

It may be the vendor is asking for a copy of pass on to their insurers to make a claim?

blue_max_3

The report has achieved it's result. You are now reconsidering your purchase, or at least the offer you made.
It's in your interests to show the report if you wish to renegotiate. Otherwise that's the end of your purchase I imagine.

Aspiration

I’d agree as above and have been on both sides.

If there were genuine concerns raised I’d be happy to share the report and have the conversation with seller.
For me the bigger issue is if you would want to buy a house that has had subsidence issues as you’d also be duty bound to declare it when selling. 

greatcrested

luckyduck5 said:

The vendor wants to see the full report prior to any re-negotiation

If you were my buyer and reduced your offer post-agrement, claiming a subsidence issue, there is no way I'd consider a reduction unless you produced the report.

If you didn't, I'd just think you were gazumping.

Alter_ego

greatcrested said:

If you didn't, I'd just think you were gazumping.

I presume you mean gazundering

Jeepers_Creepers

Luckyduck, what gave you concerns leading you to commission a specific subsidence report? You saw some issues like cracks that gave you enough worry? If it's potentially that 'obvious', what did the vendor say in their SIP? I mean, is this really coming as a surprise to the vendor?