Etiquette for offering on house with obvious issue

dr_bogenbroom

Evening all,

We’re excited about viewing a house this Thursday that ticks a lot of boxes, however looking at the pictures more closely I can see what appears to be a significant rising damp issue on one of the walls of the detached garage:

It’s been listed at 295k guide price and went on the market last Thursday. I thought about asking the agent in general if there were already any negatives factored into the price (rather than outright ask if the damp issue is so he doesn’t just fib and say that it is on the spot) and then afterwards point out the damp. 

If it turns out the damp isn’t factored in, then I’m thinking of offering what I think it’s worth (assuming no issues as I can’t possibly say how much it would cost to resolve without a survey) which is about 295k, ordering a damp survey and then reducing my offer should a quote to resolve be significant. I’d then have to be prepared to walk away or negotiate if the seller declines.

I think this is fair as it’s an obvious issue which has been left for years and the house is only 20 years old and it’s likely due to a design flaw. I’m fairly certain the garage was built by the developers who built the house.

If it turns out the damp has been factored in then we’ll offer accordingly.

Is my thinking ok? Happy to be told otherwise. 

Thanks.

eddddy

You might be over thinking this.

Essentially, an estate agent bases their valuation on what they think a property will sell for - they don't really subtract a bit for each problem (or a add a bit for each benefit).

And the seller probably has a minimum price in mind that they will sell for - it might be the asking price or it might be less. (If nobody offers that minimum price, over time they might lower their expectations.)

Or if more than one person offers above the minimum price the seller has in mind, then obviously, the seller takes the best offer.

propertyrental

And if it's a detached garage that's not the same as a habitable room.

My car has lived happily in my slightly damp garage for years.......

But to solve the problem (which you've yet to actually see!) I suggest a weekend digging a 6" wide trench alongside the wall, filled with gravel. It looks like the tarmac has been laid right up against the wall, probably breaching the dpc.

user1977

I'm not sure how much some damp in a detached garage actually matters? As above, the effect it has on the overall value is unlikely to equate to the cost of fixing it.

dr_bogenbroom

I'm really glad I posted on here - I previously posted on Reddit and got quite a few comments telling me how terrible it was and that I should cancel the viewing. Thanks for giving me a sanity check. I'll post on here going forward and give Reddit a break.

I'm probably over thinking it because I really like this house, it's hard to not over think something when it's the one you really want.. saying that I could hate it upon seeing it in person!

On another note, has anyone had experiences of a seller listing it as 'Guide Price'? Not seen that one before and Google lists quite a few motivations.

Flugelhorn

Is it "rising damp" or just really grotty guttering on the garage leading to lots of splashing against the wall when it rains?

ProDave

Don't waste money on a damp survey.  Just look to see where the DPC is on that wall, my guess is too low or the ground alongside it has been built up.

Probably solved by cutting back the tarmac 200mm, digging out the ground and re filling with large gravel / small rocks to form a French Drain.

All the time hoping other buyers are scared away and don't offer.

propertyrental

'Guide price'? Meaningless really. Probably means the seller would like to get that but doesn't think he will!

Any listed price is in reality a guide price. If a buyer thinks it's worth that much and/or there's competition for the property, that's what they'll offer.

If they don't think it's worth that, or think the seller is desperate and not getting other offers, they'll offer less.

Don't see how listing as 'guide price' changes that.

dr_bogenbroom

Flugelhorn said:

Is it "rising damp" or just really grotty guttering on the garage leading to lots of splashing against the wall when it rains?

Good point, will check this out when I go and view

dr_bogenbroom

ProDave said:

Don't waste money on a damp survey.  Just look to see where the DPC is on that wall, my guess is too low or the ground alongside it has been built up.

Probably solved by cutting back the tarmac 200mm, digging out the ground and re filling with large gravel / small rocks to form a French Drain.

All the time hoping other buyers are scared away and don't offer.

Yeah I’ve read about damp surveys - usually they’re just trying to sell you their service. It seems an easy DIY solution which is something I’d give a go

dr_bogenbroom

propertyrental said:

'Guide price'? Meaningless really. Probably means the seller would like to get that but doesn't think he will!

Any listed price is in reality a guide price. If a buyer thinks it's worth that much and/or there's competition for the property, that's what they'll offer.

If they don't think it's worth that, or think the seller is desperate and not getting other offers, they'll offer less.

Don't see how listing as 'guide price' changes that.

Thought so - I’ll just ignore it. I believe it’s  under valued if I go by price per sqm (I don’t have access to sold prices here in NI to check what other houses sold for in the estate). Saying that it was on the market from Apr 2021 to Jul 2022 and then was pulled off the market… could be hidden issues. It’s a rental so the landlord could be coming to an end on a fixed rate and wanting to sell if it’s mortgaged.