Re-negotiate on house purchase after survey/reports opinion

rystaman

Hi all,

I wanted to get some outside opinions on my situation at the moment in regards to my first house purchase. Me and my partner are buying a 1970 3-bed semi-detached property in the West Midlands which was up for £240,000 but that we negotiated down to £233,000 due to modernisation needed throughout the property. Our offer was accepted late January 2021 with little to no fuss.

After we’d already negotiated on the property we went back for a second visit and our suspicions were confirmed that it in fact needed a full rewire (subsequent EICR confirmed also). This is approx £5,000 of work based on 3 separate quotes we’ve received. In addition to this we had our survey back last week and had the following immediate jobs highlighted (have left some off that I can pick up myself):

• Remortar DPC front, back and sides
• Remortar parts of side elevation brickwork
• Re-bed concrete ridge tiles on roof and remoter
• Remove flash band material from chimney flue and repair
• Install a felt support tray on the underside of the roof at eaves level
• Install lead flashing where flat roof meets brickwork
• Replace and reconfigure drainpipes front and back
• Glazed unit needs replacement in the Living Room
• Two glazed units need replacing in 3rd Bedroom
• Potentially a single joist needs replacing in 2nd Bedroom
• PVCu door to garage is not fire rated and needs replacing

For all the above I’ve calculated around £3,500 of work through various quotes and estimates so this equates to £8,500 total immediate work that needs doing including the rewire. Bare in mind as well this doesn't include any of the modernisation needed which would be replastering, new bathroom etc.

We’re approaching the end stages of the purchase with the seller’s also getting close with their onward purchase, do you think it’s worth trying to re-negotiate our purchase price as £2000 extra off would only give us an extra £400 approx. liquid. My other potential option was to ask for the sellers to replace the blown glazing units in the Living Room and Bedroom 3 which would approx be £400/500 of work. 

What are people’s thoughts on this? As it's my first house purchase any advice on this would be greatly appreciated.

Swoosh84

There is no right or wrong answers here, you can ask but never any guarantees. Sounds like you have already got a discount. I can only speak on a personal level here and say that I would decline your offer, but I’m stubborn. I would be putting the house on the market at a price I feel is fair with all existing faults.

davilown

The windows you would have seen on viewing, so knock them off that list.
the upvc door to the garage you would have seen on viewing as well, so another off that list.

Given that it’s a modernisation project, it was probably priced as such so if I was a vendor, I’d probably be annoyed if you came back with a reduced offer, especially as you’re only just at the beginning of the purchase process (yes survey is one of the very first things that needs doing after instructing your solicitor).

Martin_the_Unjust

There is nothing on your list that I find particularly surprising for a 1970’s house and, IMHO non of it is particularly urgent and couldn’t just be rolled into the needed refurbishment.

davidmcn

Rewiring throughout would give you a house with brand new wiring (and presumably everything set out the way you want it) - and you already knew that wasn't what you were getting when you agreed the price, so i wouldn't expect much of a discount based merely on whatever the EICR has said.

The works sound like a list of fairly minor things and I'm not sure why any of them are immediately necessary (e.g. is anything currently leaking?). Any survey is going to pick up bits and pieces of routine maintenance needing done, it doesn't mean you must instruct them as soon as you get the keys, or that it's reasonable to deduct the cost from the price which already reflected it wasn't in as-new condition.

Sunsaru

Now this is just my opinion.

Most of the stuff listed there is not mission critical or dangerous. Yes it needs doing but it doesn't have to be done right now. Added to the fact you've already knocked the vendor down a fair bit "due to modernisation needed throughout the property" I doubt they'll agree to any further reduction.

However, you don't get if you don't ask.

Redwino222

I do have an issue with this.  People buy a house that is clearly older, and clearly needs work.  Then they get a survey that lists the work that need to be done, and they try to get the price reduced.

its different if you are buying a relatively new build, but if the house had all this work done and had been fully modernised, then it would have cost more in the first place.

Trying to renovate at this stage is almost like blackmail - the vendor feels they have to comply or risk their onward purchase.

Everything on that list is to be expected from a 50year old house That needs updating.

StandingInTheSun

When you say these were "immediate jobs" do you mean they were indicated red, or orange?

If red (serious issues requiring urgent attention) and they are jobs you were not aware of when you made your offer, I think there's no harm in negotiating. 

If orange/amber then they probably fall under the ongoing maintenance umbrella.

moneysavinghero

Probably already priced for work needing doing on it. They gave you an extra £7k discount. The works cost £8,500. You want another £2,000. You now believe the vendor should tuck £500 in your back pocket?

Think you need to decide whether you really want this property or not. If you do just pay what was agreed, £1,500 is nothing in the great scheme of things. If you are not fussed then by all means try and get and haggle whatever you want out of it but don't be surprised if they tell you where to go.

rystaman

davilown said:

The windows you would have seen on viewing, so knock them off that list.
the upvc door to the garage you would have seen on viewing as well, so another off that list.

Given that it’s a modernisation project, it was probably priced as such so if I was a vendor, I’d probably be annoyed if you came back with a reduced offer, especially as you’re only just at the beginning of the purchase process (yes survey is one of the very first things that needs doing after instructing your solicitor).

Bottom of these particular windows were hidden behind furniture so we didn't see that they were blown. And as the uPVC door isn't that old we wouldn't have thought that it wasn't appropriately fire-rated. In addition, we're not at the start, we're very much near the end with just waiting on final queries from their solicitors before we are able to exchange on our side

rystaman

Redwino222 said:

I do have an issue with this.  People buy a house that is clearly older, and clearly needs work.  Then they get a survey that lists the work that need to be done, and they try to get the price reduced.

its different if you are buying a relatively new build, but if the house had all this work done and had been fully modernised, then it would have cost more in the first place.

Trying to renovate at this stage is almost like blackmail - the vendor feels they have to comply or risk their onward purchase.

Everything on that list is to be expected from a 50year old house That needs updating.

The house hasn't just been left to rot... It's a family home that's been lived in and in comparison to other houses sold over the past year in the same road it's priced very much in the middle of what I would expect. The fact you're calling it blackmail is a bit dramatic...