Renegotiating sale price after offer accepted

Tally_103

Hi all,

We had our offer accepted on a house, however, our building survey has flagged a few issues with the main issue being the conservatory.

 While we knew the conservatory wasn't  in the best shape it actually looks like major repairs are needed to the roof and lead flashing attaching it to the house and it may well be more cost effective to remove it. We won't have the money to be able to have another built.

We are getting quotes for the repair/removal but I'm interested to know what people think is a reasonable amount to reduce the offer price by if you went from buying a house with a conservatory to buying a house with one that needs pulling down!

Mstty

Use it as a store room/shed until it falls down.

If it's one thing we hate it's a conservatory lol

To add the upvc type so common in suburbia 

Richard1212

Tally_103 said:

Hi all,

We had our offer accepted on a house, however, our building survey has flagged a few issues with the main issue being the conservatory.

 While we knew the conservatory wasn't  in the best shape it actually looks like major repairs are needed to the roof and lead flashing attaching it to the house and it may well be more cost effective to remove it. We won't have the money to be able to have another built.

We are getting quotes for the repair/removal but I'm interested to know what people think is a reasonable amount to reduce the offer price by if you went from buying a house with a conservatory to buying a house with one that needs pulling down!

No-one can answer that because we do not know the price of the house, the cost of repairing or removing the conservatory or the amount of competition for that house from other prospective buyers who may not be interested in the conservatory issue. Even if you reduce the price by exactly the price of repair or removal of conservatory, do you know if other prospective buyers are willing to buy at same price accepted by owners from you ? It comes down to whether this is your dream house and you'll fight to get it, in the first instance by sounding out the sellers as to how they would react if you sought a reduction in  line with conservatory works. Or are you just prepared to walk away and look for another house ?

secla

A conservatory adds 0 value to a house for me but probably different for others. Its not really a functional room.
Our house has a rather dilapidated 6mx2.5m conservatory which is just used for storage and drying clothes until i decide to take it down 

Dustyevsky

There are conservatories and conservatories. It's amazing some people here think they're all the same. They wouldn't say that about cars, unless they were ignorant of the differences between those. If nothing else, a conservatory will provide a utility space and it might well lower your energy bills in winter. I know mine does.

However, a rusty, worn out car isn't worth much unless it's a classic and the same applies to a dilapidated conservatory. As a vendor, if it was obvious the conservatory “wasn't in the best shape,” then in a more buoyant time I'd probably tell you I'd factored that into the price. Currently, as Richard 1212 says, it's definitely a matter of supply & demand, which we don't know about.

Put it another way, if there are other issues, focus on them. It was obvious the conservatory was showing its age when you viewed and it's a weak negotiating point.

Dustyevsky

Mstty said:

If it's one thing we hate it's a conservatory lol

If there's one thing that puts me off when looking at property, it's vaulted ceilings, but it's a good thing we're not all the same.

Mstty

Dustyevsky said:

Mstty said:

If it's one thing we hate it's a conservatory lol

If there's one thing that puts me off when looking at property, it's vaulted ceilings, but it's a good thing we're not all the same.

Good to know but this post is about a conservatory, please tell me more about your pet hates maybe on the have a look at this thread where it's more appropriate. As you say we are all different👍

RelievedSheff

You knew that the conservatory wasn't in the best shape when you viewed the property and made your offer. Why do you feel that you should reduce your offer now?

Herzlos

How much work did on the conservatory did you factor into the original offer? How much work do you now think is involved?

Is it big enough to require planning permission? Because if so it's still worth more than one without, because you *could* rebuild it without going to through that process.

UnderOffer

Did the surveyor value the house at what you’ve offered? Are there nearby similar houses you can compare the value with, without the conservatory?