How to renegotiate following quote from contractors

Caruad

 We had some contractors go out today and price up issues that were flagged in our survey.  The contractor has estimated around £12,000 as worst case scenario (scaffolding needed for the side wall).  He’s going to send us an estimate on each individual issue when he gets time. Any advice on how to proceed?  Has anybody successfully renegotiated the property price? Or got money towards the cost of the work needed? 

We’ve offered the asking price which is top end of our budget. We do have the money saved but that was going towards furnishing and redecorating. Feeling a little disheartened by this news, and also nervous about raising this with the sellers! Any advice appreciated! Thanks 😊

cymruchris

It really depends on what the 'issues' are. Surveys do tend to throw up lots of things that 'need doing' that in reality will likely last another 20 years. If it's flagged up something serious that needs real urgent attention - that would be something that could be clearly used as a bargaining tool - it on the other hand it just says that certain things are wearing out - that's probably already priced within the house price anyway. 

PerfectMess

How does the amount you have offered compare to a similar house in the area that doesn’t require any immediate work?

Caruad

cymruchris said:

It really depends on what the 'issues' are. Surveys do tend to throw up lots of things that 'need doing' that in reality will likely last another 20 years. If it's flagged up something serious that needs real urgent attention - that would be something that could be clearly used as a bargaining tool - it on the other hand it just says that certain things are wearing out - that's probably already priced within the house price anyway. 

Thanks for your reply. It’s things that have been flagged up red and needing urgent review. 

Bay window roof
guttering
render on walls

I was going to see if they’d knock 50% of the estimate off the property price as these are pretty big things that need urgent attention. 

Other things were raised in the survey that were happy to sort out at our own expense over time. 

Irishpearce26

Firstly manage expectations and truly understand the survey report. Which items are things that should be rectified as part of the sale and which are things that are general wear and tear. Also understand whether the surveyor is stating that those items may need investigating/maintenance in the future.

Once you are comfortable then;

Put forward your case for a new offer

Buyer accepts/rejects

You try to renegotiate if needed

Buyer accepts/rejects

You have a smooth process from here/you walk away/review if the house outweighs the issues and you can live with them to slowly sort them out 

AlexMac

Sleep on it.  How much do you like this house?  A lot, I'd guess...

Your report tells me that none of these are a deal-breaker;

things that have been flagged up ..."needing urgent review..."  (i.e not needing immediate repair ...?) are

-Bay window roof
-guttering
-render on walls

I assume from those brief facts that this is a period house?  If so, that report pretty much describes every one of the half dozen Victorian or early 20th Century homes I've owned since the 1970s. 

1. Is the bay roof leaking?  2. Is rain water penetrating through the render into the house?  And, easiest Q, 3. do the gutters leak?   (

If not, the vendor's reply to your attempt to negotiate £6-12K off will be put up or shut up.  1 is relatively trivial.  If 2 and 3 do require scaffolding, that might cost several grand, but I suspect your builder has quoted top dollar?  And round here, gutter guys will throw up a scaffold tower and sort  gutters for a grand or so

Also, assuming your builder has sensed a risk-averse client and over-quoted, what % of the house price does the few grand remedial cost represent?  Round here, where houses are north of £800k, so £5-6k isn't a significant discount (not that you'd get it).  In the North East, where you're lucky if the gaff is worth £200k it might be a deal breaker 

So think before steaming in; good luck