Negotiating lower price after survey

Mahsroh

I agree with others on here. The stuff listed isn’t worthy I’ve a price reduction. If I was the seller I’d be standing my ground and if the buyer wasn’t prepared to proceed at the previously offered price I’d be re-listing ASAP. 

Thrugelmir

14sprocket said:

We can obviously draw the line by saying we won't proceed with the execution unless some sensible price reduction takes place. 

Sounds if you've offered high to outbid other perspective purchasers and now want to backtrack.  The EA isn't going to assist you. Put a cost on the works you want to do and revise your offer accordingly. The vendor can then decide whether they are interested in renegotiating. 

SpiderLegs

14sprocket said:

SpiderLegs said:

What is the offer price?
If you are using a mortgage has it been approved at that price? If not, what was it?
did your surveyor give a valuation? If so, what was it?

The price seems fair vs what the other houses on the same street were sold for recently (plus a few houses in the process of selling). Mortgage valuation is a couple of weeks away, and we haven't order a surveyor valuation

Your position at the moment is weak. Expecting a non-leaking roof to start leaking ‘soon’ is pretty poor.
I don’t see any incentive for the vendor to get involved in negotiation unless you get a reduced mortgage valuation, so you should probably just drop it.

Crashy_Time

14sprocket said:

Crashy_Time said:

14sprocket said:

SpiderLegs said:

What is the offer price?
If you are using a mortgage has it been approved at that price? If not, what was it?
did your surveyor give a valuation? If so, what was it?

The price seems fair vs what the other houses on the same street were sold for recently (plus a few houses in the process of selling). Mortgage valuation is a couple of weeks away, and we haven't order a surveyor valuation

So absolutely no point in doing anything before the bank tells you how much it is worth really?

Good point... Would I not be better off raising my concerns from the surveyor's report earlier rather than later? As soon as I receive the report and realise how much it will cost to fix all the issues listed in it. Once I leave it down to the wire, this may look more like a deliberate gazundering

Maybe your mortgage valuation will say they are asking too much, that will be harder for them to argue against, you could maybe raise the survey concerns as cause for a further discount after that if you wanted to.

lookstraightahead

If you saw my full structural report it would make your toes curl, and I've not asked for any reduction, because it's an old house.
Im with your vendor op, sorry. These are minor things and if I was the vendor I would be thinking of relisting.
i don't always think that and there are some greedy vendors with fairy tale expectations, but not in this instance imho .

14sprocket

timmins91 said:

Did you expect the survey to come back and tell you the house was perfect? If my buyer asked me to replace a (so far) functioning conservatory roof and shower that they'd seen before putting an offer in, I'd be putting it back on the market sharpish. Is it worth potentially losing the house over when they're things you could replace reasonably over time?

Hmmm.... what's the point of the survey otherwise? 
The way I'm seeing it, is I'm hiring an expert to tell me what needs to be done about the house to make it livable. Where to draw the line between the "layman's knowledge" and surveyor's expertise each person decides for himself. At the end of the day, I'm not planning to take advantage of the seller and only looking to flag up the issues raised in the survey.
For example, painted over windows is a poor form, and I wouldn't be able to tell if there's dry rot myself.
Any negotiation is a 2-way process, and we may well end up agreeing somewhere in between.

rik111

I'm with the seller, you are totally taking the mick.... If you want a brand new perfect house then go buy one. Everything listed is routine maintenance that may be required in the coming years,

 

14sprocket

lookstraightahead said:

If you saw my full structural report it would make your toes curl, and I've not asked for any reduction, because it's an old house.
Im with your vendor op, sorry. These are minor things and if I was the vendor I would be thinking of relisting.
i don't always think that and there are some greedy vendors with fairy tale expectations, but not in this instance imho .

In my case it's a relatively new house, so I may have different expectations perhaps. Painting over windows and allowing frames to dry rot is a poor form, imo. I'm only asking for what the builders quoted me for remedial work

houghton91

14sprocket said:

timmins91 said:

Did you expect the survey to come back and tell you the house was perfect? If my buyer asked me to replace a (so far) functioning conservatory roof and shower that they'd seen before putting an offer in, I'd be putting it back on the market sharpish. Is it worth potentially losing the house over when they're things you could replace reasonably over time?

Hmmm.... what's the point of the survey otherwise? 
The way I'm seeing it, is I'm hiring an expert to tell me what needs to be done about the house to make it livable. Where to draw the line between the "layman's knowledge" and surveyor's expertise each person decides for himself. At the end of the day, I'm not planning to take advantage of the seller and only looking to flag up the issues raised in the survey.
For example, painted over windows is a poor form, and I wouldn't be able to tell if there's dry rot myself.
Any negotiation is a 2-way process, and we may well end up agreeing somewhere in between.

They're living in it now right? So it is already 'liveable'. A survey isn't just there for you to negotiate for price reductions - they're to let you know the types of things you can expect to fix/improve if you were to take the house on. Plenty of people get surveys done so they don't end up with nasty surprises and don't expect the seller to replace an old shower. Are you a FTB?

robatwork

What you have here is the combined experience of people who have bought dozens of houses, by and large giving an opinion not supporting your position. How many have you bought?