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Renegotiation of house price - What does the Estate Agent need?

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Comments

  • Jemma01
    Jemma01 Posts: 397 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Have you already paid the roofer? Seems odd he'd go on holiday before he quotes the work, as surely you would have brought him in to assess the situation and tell you how much it costs to fix?

    If I was the seller, I'd ask for a quote and either fix it myself, or reduce the quoted price off the property.
    Note:
    I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.
    Mortgage debt start date = 25/10/2024 = 175k (5.44% interest rate, 20 year term)
    Q4/2024 = 139.3k (5.19% interest rate)Q1/2025 = 125.3k (interest rate dropped from 5.19% - 4.69%)
    Q2/2025 = 108.9K (interest rate 4.44%)
    Q3/2025 = 98.5k (interest rate dropped from 4.44% to 4.19%)
  • EssexHebridean
    EssexHebridean Posts: 24,424 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Jemma01 said:
    Have you already paid the roofer? Seems odd he'd go on holiday before he quotes the work, as surely you would have brought him in to assess the situation and tell you how much it costs to fix?

    If I was the seller, I'd ask for a quote and either fix it myself, or reduce the quoted price off the property.
    It seems unlikely that the OP would have paid the roofer for work on a house they do not yet own, no?
    If the roofer was about to go on holiday, but was good enough to go and take a look at the property and verbally quote the OP, should he delay his holiday in order to give time to provide a written quote? 

    There are all sorts of reasons why the seller might not “fix it themselves” - not least the fact that if it is a new roof required, they have presumably been living with the old one for some time, and if selling subsequently, will get no benefit from a new one at all, but have to take on all the upheaval that goes with work of this nature.  I suspect that in fact if you were the seller, you would do neither of the things that you state! 😉
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
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  • Bigphil1474
    Bigphil1474 Posts: 3,579 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    OP, I'm in a similar position to your seller. Our roof is old, getting towards the end of its life apparently, but not leaking and no issues as far as we know. If our buyer came back and said they'd had a quote to put a new roof on, at best I'd maybe offer a contribution, at worst I'd tell them it's the same roof it had one when they viewed the property and the price we accepted was based on the current condition of the house (not to mention we accepted £10k below asking). I think if you want to be taken seriously by the sellers, you would send them a copy of the quote and leave it to them to consider. 
  • If the roof wasn't leaking, you will be hard pressed to get a reduction, less still a seller subsidising a brand new roof which will benefit you for 50 years and them not at all. It's amazing the sort of work that surveys suggest is necessary, only for three to be no issue for years or decades to come.
  • jimbog
    jimbog Posts: 2,263 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 24 March at 1:07PM
    If the roof wasn't leaking, you will be hard pressed to get a reduction, less still a seller subsidising a brand new roof which will benefit you for 50 years and them not at all. It's amazing the sort of work that surveys suggest is necessary, only for three to be no issue for years or decades to come.
    Bought a house in 1995 where the surveyor said the roof was coming towards the end of it's life. Sold it 18 years later without an issue. Walked past it a couple of years ago and the same roof was still there
    Gather ye rosebuds while ye may
  • Jemma01
    Jemma01 Posts: 397 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Jemma01 said:
    Have you already paid the roofer? Seems odd he'd go on holiday before he quotes the work, as surely you would have brought him in to assess the situation and tell you how much it costs to fix?

    If I was the seller, I'd ask for a quote and either fix it myself, or reduce the quoted price off the property.
    It seems unlikely that the OP would have paid the roofer for work on a house they do not yet own, no?
    If the roofer was about to go on holiday, but was good enough to go and take a look at the property and verbally quote the OP, should he delay his holiday in order to give time to provide a written quote? 

    There are all sorts of reasons why the seller might not “fix it themselves” - not least the fact that if it is a new roof required, they have presumably been living with the old one for some time, and if selling subsequently, will get no benefit from a new one at all, but have to take on all the upheaval that goes with work of this nature.  I suspect that in fact if you were the seller, you would do neither of the things that you state! 😉

    The guy is buying a house, surely he wouldn't pay the roofer to fix someone else's roof. But a good roofer would be too busy to spare their time for free to survey a roof, document his findings and quote it. Their time costs money.
    I also didn't suggest that the guy should delay his holiday. If he didn't pay, the guy going on holiday for two weeks is not very relevant for him to stress about, in those two weeks he can get someone else in (and I think he mentioned two quotes already).

    As for the seller fixing or not, I'm glad you said "might not fix", whether that would be the case for this guy or not, is for him to ask and for the seller to decide, not for us to assume. The seller might already know a friend who can do it for much less than the asking reduction and split the cost. Whatever it is, it is for them to discuss. 
    Note:
    I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.
    Mortgage debt start date = 25/10/2024 = 175k (5.44% interest rate, 20 year term)
    Q4/2024 = 139.3k (5.19% interest rate)Q1/2025 = 125.3k (interest rate dropped from 5.19% - 4.69%)
    Q2/2025 = 108.9K (interest rate 4.44%)
    Q3/2025 = 98.5k (interest rate dropped from 4.44% to 4.19%)
  • Albermarle
    Albermarle Posts: 28,095 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    There is a lot of speculation in these posts, as so far the OP has not actually said what the issue is !

     I have had a offer accepted on a house and we were quite far through the process until the survey came back with a few red flags. What red flags ?
    We have since got a couple of quotes to fix these issues what issues ?and then submitted a new price to the estate agent,


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