Buying new house roof’s leaking and need new roof

Hello everyone,

I am planing to buy a house and the offer has been accepted. Bank did valuation survey and said roof need replacing and also house have dampness on one of the external wall. How can we solve this issue.? I don’t have enough cash to get the roof replaced once I get the keys. House itself from internal need lot of renovation work. Can I maybe bring my offer down? Or is it vender’s responsibility to get roof sorted ?any advised would help. 


  • elsien
    elsien Posts: 32,231
    Name Dropper Photogenic First Anniversary First Post
    You offer what you think the house is worth in the condition that it’s in. The vendor can then choose to accept the lower price or stick to their guns.
    If the house is fairly priced for its condition then they are unlikely to accept a lower offer unless they are keen for a quick sale. 
    If your valuation said that the house is worth what you have offered it’s not the vendor’s problem that you can’t afford any subsequent repairs.  If they won’t take a lower offer then you look elsewhere. 
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • Originally House was on the market for 300k and offer was accepted for 280k. When we did 1st viewing we did ask about the roof and we were told roof was ok. I thought we need at least 30k just to renovate from inside and now roof need replacing which is another 15k. Just not affordable and most of the house sold in the area are for 260k to 320k
  • Often the bank will readjust their valuation to take into account the defective roof and you will be only able to borrow a certain amount that could be less than you need to complete the purchase. Are the bank still happy to loan you enough money to enable you to purchase the property at your offer price? 
  • A good tip to value the property is to carry out a search of other sold properties similar to the one you are buying that have been sold within a mile radius in the last 6 months. You can find that info on land registry website as well as right move, etc
  • bank said it’s a risky investment due to poor roof and until we provide to bank with the quote to replace the roof. Bank isn’t happy to lend any money. 
  • jimjames
    jimjames Posts: 17,482
    Photogenic Name Dropper First Anniversary First Post
    bank said it’s a risky investment due to poor roof and until we provide to bank with the quote to replace the roof. Bank isn’t happy to lend any money. 
    Sounds like you'll need to walk away then if the bank won't lend. Would they even lend at a lower value? 
    Remember the saying: if it looks too good to be true it almost certainly is.
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