Best way to negotiate after survey?

hg1994

Hi all,

Firstly, thanks to everyone who posts, as this forum has been a great help during my (FTB) process.

I was wondering how you all feel the best way to negotiate after a survey would be. Essentially, I have had a full survey done which has shown a few minor issues (4-5) and a few potential issues that need further assessment (2). Now some of these, I am happy to absorb the cost of as I really like the property (~1k worth of repairs). However, pending a bit more information, the property potentially needs a new roof (quoted 8-10k) which I have the money to do but ideally would want the vendor to at least cover some of this.

I'm lucky to have some very knowledgable people around me with this sort of thing, but I'm getting conflicting advice on how to approach the negotiation. Should I be upfront and say to the vendor, sort of "there are a few issues that I'm happy to sort out, but these ones I would like you to look into / a price reduction" or do I present them with all of the issues and see what they 'volunteer' to pay for? I suppose my thinking is, that if I come across as willing to pay for some things, does that make me seem A) like a reasonable person wanting fair negotiation vs too obviously set on the house and will end up paying for everything?

Any experience that you have had as both vendors and buyers would be useful!

elsien

Your starting point needs to be: is the house already priced for the condition it’s in?
The second thing is what the survey actually says: I.e. the roof is leaking in several places and needs to be replaced now vs the roof is reaching the end of its useful life and may need to be replaced at some point in the next x years. 

tink_1983

What does the survey actually say about the roof? 
If you need further investigation by a roof specialist to gain a definitive repair figure I would instruct that.
It might be a repair job rather than a whole new roof..
Once you have the figures you can decide what your willing to pay for 

robatwork

There have been posters in here who were informed on their survey of the "impending" need for a new roof. And 30 years later they have the same roof.

So it really depends on how badly it needs a new roof and if it's factored into the selling price. If the price is the same as neighbouring properties have sold for without needing a new roof then it's fair game if it is falling apart.

If the survey says "at some point in future you need to address the shoddy chimney flashing" then that's very different.

Post the exact wording here...

youth_leader

My buyer told my EA that his structural survey had 17 'red' ie immediate urgent action needed points out of 23.  Did yours use a similar system?  I was led to believe that my attic structure needed 'urgent repairs' and the roof needed replacing, but the buyer would not share any extracts from his survey.  Are you able to share with your seller so he can decide whether to negotiate?

p00hsticks

elsien said:

Your starting point needs to be: is the house already priced for the condition it’s in?
The second thing is what the survey actually says: I.e. the roof is leaking in several places and needs to be replaced now vs the roof is reaching the end of its useful life and may need to be replaced at some point in the next x years. 

You also need to distinguish between things that were evident to you on viewing prior to making your initial offer  (you should have been able to spot slipped tiles as well as a surveyor and adjusted your offer accordingly) and things that only a surveyor would have spotted.....

skycatcher

When i bought my current house the survey reported a number of minor/cheap/easy things that needed doing. It also highlighted that the dry verge needed repointing not urgently but soon. I got a quote for the work and informed the sellers that i was happy for them to get it sorted out or reduced the agreed price by the quote. They agreed to the price reduction without any I'll feeling. I realise you cost with be much more but that was my experience.

BikingBud

robatwork said:

There have been posters in here who were informed on their survey of the "impending" need for a new roof. And 30 years later they have the same roof.

So it really depends on how badly it needs a new roof and if it's factored into the selling price. If the price is the same as neighbouring properties have sold for without needing a new roof then it's fair game if it is falling apart.

If the survey says "at some point in future you need to address the shoddy chimney flashing" then that's very different.

Post the exact wording here...

Again we query the professional advice of competent personnel with people on an internet forum that have not been near the house.

As the buyer how do you know if the vendor has assessed the repairs, costed them and adjusted the price accordingly? They do not provide a survey to underpin that assessment. The roof is but one element of the overall size and condition so you cannot do a direct comparison with neighbouring houses.

As you were aware of and budgeted for gas and electrical work within your offer but issues with the roof were only visible from inside the loft, your assessment was incomplete and you have rightly sought professional advice to understand the overall condition and what liabilities you may be taking on.

When additional risks, structural that are ultimately financial, are highlighted it would be foolhardy not to seek a revised price based upon the surveyors observations, or even walk away if the risks are too great. 

If the surveyor says it potentially needs a new roof then I would be pushing for something more definitive. But what if they come back and say it does need doing at some point, what is different about the example of the chimney flashing?

If you do not take the surveyor's advice why did you pay for the survey and not just keep the cash in your pocket to offset the risks?

AdrianC

BikingBud said:

As the buyer how do you know if the vendor has assessed the repairs, costed them and adjusted the price accordingly? They do not provide a survey to underpin that assessment.

Did the surveyor provide a valuation...?

lookstraightahead

How old is the house and what is wrong with the roof? What does potential mean (well, we know it means the surveyor doesn't know)

BikingBud

p00hsticks said:

elsien said:

Your starting point needs to be: is the house already priced for the condition it’s in?
The second thing is what the survey actually says: I.e. the roof is leaking in several places and needs to be replaced now vs the roof is reaching the end of its useful life and may need to be replaced at some point in the next x years. 

You also need to distinguish between things that were evident to you on viewing prior to making your initial offer  (you should have been able to spot slipped tiles as well as a surveyor and adjusted your offer accordingly) and things that only a surveyor would have spotted.....

Perhaps they have distinguished between things that are evident to them. Some people will notice the front door is red, others will notice that the frame is not square! It's about perspective and competence. 

How many on here comment about trivia such as the house is cluttered, don't like the wall paper or colour scheme? All pretty irrelevant in the value of the house.

If you are not competent then you pay for someone to represent you and provide competent advice. If the surveys highlight a whole host of issues that the FTB had not observed then the purchaser of the survey may decide to proceed with the purchase of the house, or otherwise. 

If you looked at purchasing a car and didn't recognise that there was crash damage but were then advised by a competent surveyor with advice that it was worth less would you: pay full price as maybe you should have noticed the creased boot floor, seek reduction to that price or walk away?

You pay for advice to protect yourself, to be aware of issues you cannot discern and to ensure you are not letting yourself into a whole load of risks (hard earned cash).