Having to pay for quotes

Pixie5740

Folksriker said:

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

I'm in the process of purchasing a property (FTB which is why I'm a bit clueless) and the survey has come back with some issues that really need addressing soon (the most serious being problems with the Chimney stack, possible asbestos, corroded window lintels leading to cracking, inadequate ventilation in the floor, roof and chimney breast leading to damp). It's an old terrace, so we knew some work would probably need doing, but this might be a little more than we had bargained for. My problem is that the vendor is being a bit cagey about how much they are willing to negotiate (if at all) and keeps just asking to see the quotes - and everyone I've asked has said they won't do free quotes for prospective buyers in case they don't actually get the work. Most have said they'll charge ~£100 just to have a look and give a quote! Given we'll need at least 4 different specialist tradesmen to do these quotes that's going to add up pretty quickly and we're already using basically all of our savings for the deposit and conveyancing fees. Is it worth me just sucking up the cost and paying for quotes? Have I just spoken to the wrong people and free quotes are available somewhere? What if I pay for the quotes and the vendor decides not to budge? 

Have you had a mortgage valuation yet? If so did the valuation match what you offered? 

I don't know, as I didn't pay for the valuation they said I don't get to see it, it was "accepted" though so I assume it's at least valuable enough to be suitable security. 

What? Was the mortgage valuation not done as part of your mortgage application or are you in Scotland where the vendor paid for the Hone Report? In both cases you should be able to see how much the property was valued at. 

The mortgage valuation was done by my lender, I asked if I would get to see it and they said no, it's just information for them and to see if the property is suitable security for them, and that the survey was the one that gave information relevant for me.

That is weird. That said if the valuation hasn’t come in at less than you offered, which appears to be the case or your LTV would have changed, then it’s probably worth what you offered in the condition it is in. 

Folksriker

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

I'm in the process of purchasing a property (FTB which is why I'm a bit clueless) and the survey has come back with some issues that really need addressing soon (the most serious being problems with the Chimney stack, possible asbestos, corroded window lintels leading to cracking, inadequate ventilation in the floor, roof and chimney breast leading to damp). It's an old terrace, so we knew some work would probably need doing, but this might be a little more than we had bargained for. My problem is that the vendor is being a bit cagey about how much they are willing to negotiate (if at all) and keeps just asking to see the quotes - and everyone I've asked has said they won't do free quotes for prospective buyers in case they don't actually get the work. Most have said they'll charge ~£100 just to have a look and give a quote! Given we'll need at least 4 different specialist tradesmen to do these quotes that's going to add up pretty quickly and we're already using basically all of our savings for the deposit and conveyancing fees. Is it worth me just sucking up the cost and paying for quotes? Have I just spoken to the wrong people and free quotes are available somewhere? What if I pay for the quotes and the vendor decides not to budge? 

Have you had a mortgage valuation yet? If so did the valuation match what you offered? 

I don't know, as I didn't pay for the valuation they said I don't get to see it, it was "accepted" though so I assume it's at least valuable enough to be suitable security. 

What? Was the mortgage valuation not done as part of your mortgage application or are you in Scotland where the vendor paid for the Hone Report? In both cases you should be able to see how much the property was valued at. 

The mortgage valuation was done by my lender, I asked if I would get to see it and they said no, it's just information for them and to see if the property is suitable security for them, and that the survey was the one that gave information relevant for me.

That is weird. That said if the valuation hasn’t come in at less than you offered, which appears to be the case or your LTV would have changed, then it’s probably worth what you offered in the condition it is in. 

Do mortgage valuers look at the condition? From what I gather this fellow was there for about 10 minutes and was basically there to check it had four walls and a roof, while our surveyor was there for hours looking in every nook and cranny, surely I am better off listening to the surveyor's advice? Plus I don't even know what the valuer said. I'm not trying to be a cheapskate but if there's genuinely work that needs doing that was not immediately obvious on viewing then is it not fair to at least ask about a bit of a reduction? Obviously I don't want to !!!!!! the vendor off, but I also don't want to pay over the odds either

Pixie5740

Folksriker said:

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

I'm in the process of purchasing a property (FTB which is why I'm a bit clueless) and the survey has come back with some issues that really need addressing soon (the most serious being problems with the Chimney stack, possible asbestos, corroded window lintels leading to cracking, inadequate ventilation in the floor, roof and chimney breast leading to damp). It's an old terrace, so we knew some work would probably need doing, but this might be a little more than we had bargained for. My problem is that the vendor is being a bit cagey about how much they are willing to negotiate (if at all) and keeps just asking to see the quotes - and everyone I've asked has said they won't do free quotes for prospective buyers in case they don't actually get the work. Most have said they'll charge ~£100 just to have a look and give a quote! Given we'll need at least 4 different specialist tradesmen to do these quotes that's going to add up pretty quickly and we're already using basically all of our savings for the deposit and conveyancing fees. Is it worth me just sucking up the cost and paying for quotes? Have I just spoken to the wrong people and free quotes are available somewhere? What if I pay for the quotes and the vendor decides not to budge? 

Have you had a mortgage valuation yet? If so did the valuation match what you offered? 

I don't know, as I didn't pay for the valuation they said I don't get to see it, it was "accepted" though so I assume it's at least valuable enough to be suitable security. 

What? Was the mortgage valuation not done as part of your mortgage application or are you in Scotland where the vendor paid for the Hone Report? In both cases you should be able to see how much the property was valued at. 

The mortgage valuation was done by my lender, I asked if I would get to see it and they said no, it's just information for them and to see if the property is suitable security for them, and that the survey was the one that gave information relevant for me.

That is weird. That said if the valuation hasn’t come in at less than you offered, which appears to be the case or your LTV would have changed, then it’s probably worth what you offered in the condition it is in. 

Do mortgage valuers look at the condition? From what I gather this fellow was there for about 10 minutes and was basically there to check it had four walls and a roof, while our surveyor was there for hours looking in every nook and cranny, surely I am better off listening to the surveyor's advice? Plus I don't even know what the valuer said. I'm not trying to be a cheapskate but if there's genuinely work that needs doing that was not immediately obvious on viewing then is it not fair to at least ask about a bit of a reduction? Obviously I don't want to !!!!!! the vendor off, but I also don't want to pay over the odds either

The mortgage valuation isn’t looking at the structure of the building. The mortgage valuer just wants to know the property value is in the same ballpark as what you’re basing your mortgage application on. If the property has been valued at say £100k without the work done and you’re trying to knock the value down then at some point the vendor is likely to tell you to jog on. 

I know this will be the largest purchase you’ve ever made but you really need to !!!!!! or get off the pot. If you’re being asked to pay for quotes then pay for them although showing the benefits for is no guarantee the best dot will want to renegotiate the price. Has the surveyor you’ve had poking round given you any idea of the value? Have you looked at recent sold prices for similar properties in the area? How do they compare to what you offered? 

FreeBear

Folksriker said:

Doozergirl said:

You won't need 4 specialists.  The window lintels, ventilation and chimney stack are all jobs for a builder.  The ventilation is less than a day's work.  

That's good to hear, would a builder be able to sort out the damage already done from the lack of ventilation to the floor? The surveyor said it was "sponging" which is an alarming sounding word for a floor! He said we should get a damp and timber specialist in...

Perhaps the one time it might pay to get a "free" damp & timber report from one of these PCA affiliated companies. Just be aware that they will recommend a bunch of work to "cure" damp such as injected DPC and waterproof render/plaster - The proposed work won't actually cure anything, just hide it for a few years and store up bigger problems to be fixed down the line.

A decent builder will have a carpenter in his back pocket, so should be able to tackle a "spongy floor" - It sounds like some of the joists may have started to rot, so while he has the floor up to install additional air bricks, it should be easy enough to do the joists.

Folksriker

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

Pixie5740 said:

Folksriker said:

I'm in the process of purchasing a property (FTB which is why I'm a bit clueless) and the survey has come back with some issues that really need addressing soon (the most serious being problems with the Chimney stack, possible asbestos, corroded window lintels leading to cracking, inadequate ventilation in the floor, roof and chimney breast leading to damp). It's an old terrace, so we knew some work would probably need doing, but this might be a little more than we had bargained for. My problem is that the vendor is being a bit cagey about how much they are willing to negotiate (if at all) and keeps just asking to see the quotes - and everyone I've asked has said they won't do free quotes for prospective buyers in case they don't actually get the work. Most have said they'll charge ~£100 just to have a look and give a quote! Given we'll need at least 4 different specialist tradesmen to do these quotes that's going to add up pretty quickly and we're already using basically all of our savings for the deposit and conveyancing fees. Is it worth me just sucking up the cost and paying for quotes? Have I just spoken to the wrong people and free quotes are available somewhere? What if I pay for the quotes and the vendor decides not to budge? 

Have you had a mortgage valuation yet? If so did the valuation match what you offered? 

I don't know, as I didn't pay for the valuation they said I don't get to see it, it was "accepted" though so I assume it's at least valuable enough to be suitable security. 

What? Was the mortgage valuation not done as part of your mortgage application or are you in Scotland where the vendor paid for the Hone Report? In both cases you should be able to see how much the property was valued at. 

The mortgage valuation was done by my lender, I asked if I would get to see it and they said no, it's just information for them and to see if the property is suitable security for them, and that the survey was the one that gave information relevant for me.

That is weird. That said if the valuation hasn’t come in at less than you offered, which appears to be the case or your LTV would have changed, then it’s probably worth what you offered in the condition it is in. 

Do mortgage valuers look at the condition? From what I gather this fellow was there for about 10 minutes and was basically there to check it had four walls and a roof, while our surveyor was there for hours looking in every nook and cranny, surely I am better off listening to the surveyor's advice? Plus I don't even know what the valuer said. I'm not trying to be a cheapskate but if there's genuinely work that needs doing that was not immediately obvious on viewing then is it not fair to at least ask about a bit of a reduction? Obviously I don't want to !!!!!! the vendor off, but I also don't want to pay over the odds either

The mortgage valuation isn’t looking at the structure of the building. The mortgage valuer just wants to know the property value is in the same ballpark as what you’re basing your mortgage application on. If the property has been valued at say £100k without the work done and you’re trying to knock the value down then at some point the vendor is likely to tell you to jog on. 

I know this will be the largest purchase you’ve ever made but you really need to !!!!!! or get off the pot. If you’re being asked to pay for quotes then pay for them although showing the benefits for is no guarantee the best dot will want to renegotiate the price. Has the surveyor you’ve had poking round given you any idea of the value? Have you looked at recent sold prices for similar properties in the area? How do they compare to what you offered? 

The house next door sold for quite a bit less that what we're offering a couple of years ago, and it's pretty much identical going by the archived rightmove listing, even factoring in general rises since then, but of course it might have had something hidden wrong with it I suppose. We've offered generally in line with property prices in the area, some sell for a little more, some for a little less, some for a lot less but presumably they were falling down or something.