PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Valuation came back significantly lower than agreed price. Need help with negotiating techniques.

Options
1356

Comments

  • Albermarle
    Albermarle Posts: 27,963 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    maxxpayne said:
    Badboi said:
    Dg window panel replacement only is a few hundred, a dehumidifier a few hundred, knotweed that the surveyor hasn’t seen but just suspects, nothing, so where you get 15k of work from I don’t know?

    The recommendation stuff is standard for every survey to cover their !!!!!!, surprised they didn’t recommend a doc specialist survey 😂
    Window panel replacement is a few hundred? Maybe somewhere up north. Also there’s a broken window pane too. The roof worries me most if anything. 
    A local window company will just measure up and then bring some replacement double glazing units , The old ones can be popped out and new ones installed in a few minutes by someone who knows what they are doing.
    Cost obviously depends on size of window, but typically is around £150 +/- £50 .

    Regarding the roof.
    it is advised that ventilation be improved. It is always a good idea to have good  ventilation in a roof, but should not be difficult to improve it.

    There is no modern breathable membrane or roofing felt beneath the roof tiles etc. etc.

    If it is an older house and it is the original roof you would not really expect it to have a secondary membrane or anything beneath the roof tiles..
    Many older houses in the UK do not have one.

    So as others have said, all pretty minor issues.

  • MobileSaver
    MobileSaver Posts: 4,347 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 29 March at 11:13AM
    maxxpayne said:
    maxxpayne said:
    ....
    The mortgage has also been approved. The lender did a desktop valuation only.
    Here's the main headline: the surveyor puts down the value to 775k.

    The surveyor also found major issues with windows, roof structure, fireplaces, chimney breasts and flues and recommended remedial work urgently and I assume it'll be another 15-20k extra work needed. Plus some additional recommendation for CCTV drainage inspection, roof inspection etc.
    If it's the 'desktop valuation' it's suspiciously far too detailed.
    If it's your own surveyor, valuation isn't his job.
    AIUI, this is not connected to the mortgage providers desktop valuation.

    It was a Level 2 surveyor commissioned by the OP, and the surveyor has decided to make comment about the valuation. You are right that this is not really what he is employed for, but he has made comment on the valuation anyway. 
    You could say it is beyond his remit and he should have kept quiet, or you could say he was trying to do his client a favour. Either way the deed is done.

    OP - Valuing property is not an exact science and +/- 5% is not so unusual

    The surveyor also found major issues with windows, roof structure, fireplaces, chimney breasts and flues and recommended remedial work urgently and I assume it'll be another 15-20k extra work needed. Plus some additional recommendation for CCTV drainage inspection, roof inspection etc.

    Some of this is standard 'cut and paste' stuff about CCTV drain  and roof inspections.
    Regarding the other stuff the key point is what is really meant by 'major' .? One persons 'major' is somebody else's a DIY job can that can wait a couple of years. So some detail about these 'major' problems would be useful.

    Some more details:

    - Windows exhibit condensation and misting between panes, confirming failed double-glazed units. This results from the breakdown of the perimeter seal, leading to internal moisture. Bedroom window shows scattered desiccant beads within the spacer bar area, further indicating unit failure

    - A specialist invasive plant survey is strongly recommended, ideally carried out in the summer, when Japanese knotweed is in active growth and more readily identifiable.

    - There are visible white mould deposits on a number of timber members, particularly rafters and purlins. This is typically indicative of elevated humidity levels and poor ventilation within the loft space. While the mould appears to be surface-level at present and not affecting the structural integrity of the wood, it is advised that ventilation be improved.

    - There is no modern breathable membrane or roofing felt beneath the roof tiles etc. etc.


    None of those things would be considered "major issues" by an experienced buyer.
    You can of course attempt to negotiate with the seller and you'll likely get one of four responses: 1) Yes, ok. 2) No but I'll compromise with a smaller reduction. 3) No, pay up or shut up. 4) No, you're a chancer, the deal's off and the property will be back on the market tomorrow...
    As the legend himself once said "Do I feel lucky?" Well, do ya, punk?

    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • ReadySteadyPop
    ReadySteadyPop Posts: 1,665 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    maxxpayne said:
    maxxpayne said:
    ....
    The mortgage has also been approved. The lender did a desktop valuation only.
    Here's the main headline: the surveyor puts down the value to 775k.

    The surveyor also found major issues with windows, roof structure, fireplaces, chimney breasts and flues and recommended remedial work urgently and I assume it'll be another 15-20k extra work needed. Plus some additional recommendation for CCTV drainage inspection, roof inspection etc.
    If it's the 'desktop valuation' it's suspiciously far too detailed.
    If it's your own surveyor, valuation isn't his job.
    AIUI, this is not connected to the mortgage providers desktop valuation.

    It was a Level 2 surveyor commissioned by the OP, and the surveyor has decided to make comment about the valuation. You are right that this is not really what he is employed for, but he has made comment on the valuation anyway. 
    You could say it is beyond his remit and he should have kept quiet, or you could say he was trying to do his client a favour. Either way the deed is done.

    OP - Valuing property is not an exact science and +/- 5% is not so unusual

    The surveyor also found major issues with windows, roof structure, fireplaces, chimney breasts and flues and recommended remedial work urgently and I assume it'll be another 15-20k extra work needed. Plus some additional recommendation for CCTV drainage inspection, roof inspection etc.

    Some of this is standard 'cut and paste' stuff about CCTV drain  and roof inspections.
    Regarding the other stuff the key point is what is really meant by 'major' .? One persons 'major' is somebody else's a DIY job can that can wait a couple of years. So some detail about these 'major' problems would be useful.

    Some more details:

    - Windows exhibit condensation and misting between panes, confirming failed double-glazed units. This results from the breakdown of the perimeter seal, leading to internal moisture. Bedroom window shows scattered desiccant beads within the spacer bar area, further indicating unit failure

    - A specialist invasive plant survey is strongly recommended, ideally carried out in the summer, when Japanese knotweed is in active growth and more readily identifiable.

    - There are visible white mould deposits on a number of timber members, particularly rafters and purlins. This is typically indicative of elevated humidity levels and poor ventilation within the loft space. While the mould appears to be surface-level at present and not affecting the structural integrity of the wood, it is advised that ventilation be improved.

    - There is no modern breathable membrane or roofing felt beneath the roof tiles etc. etc.


    None of those things would be considered "major issues" by an experienced buyer.
    You can of course attempt to negotiate with the seller and you'll likely get one of four responses: 1) Yes, ok. 2) No but I'll compromise with a smaller reduction. 3) No, pay up or shut up. 4) No, you're a chancer, the deal's off and the property will be back on the market tomorrow...
    As the legend himself once said "Do I feel lucky?" Well, do ya, punk?

    The buyer only has to get lucky once, the seller is stuck with the property until they get the price right.
  • ReadySteadyPop
    ReadySteadyPop Posts: 1,665 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    maxxpayne said:
    Hi There,

    We just got back our RICS Level 2 survey+valuation draft sent to us and the first thing the surveyor insisted on is that we are paying a lot more for the property based on his assessment of sold house prices nearby. 50k to be precise.

    Background we agreed to purchase the house for 825k originally. It's a 3 bed semi detached in north London, close to tube and good schools.

    The house looked to us in pretty good condition etc. when we viewed but of course that was just us with little knowledge of assessing property condition. The property was on the market originally for a good few months at 900k so despite us going over budget, we thought we were getting a good deal.

    The mortgage has also been approved. The lender did a desktop valuation only.
    Here's the main headline: the surveyor puts down the value to 775k.

    The surveyor also found major issues with windows, roof structure, fireplaces, chimney breasts and flues and recommended remedial work urgently and I assume it'll be another 15-20k extra work needed. Plus some additional recommendation for CCTV drainage inspection, roof inspection etc.

    Based on the valuation and the extra work needed it;s clear that we have room for negotiation. We are not in a chain, so we're in a good position to negotiate.

    We would love to know how we should approach this matter.
    Looks like the seller was really trying it on, did they just pluck 900k out of the air? Have you looked at the price history of the house, that is important since borrowing costs started to go up, something that would get multiple bids in the cheap debt era could sit unsold for many months or years now.
  • maxxpayne
    maxxpayne Posts: 145 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Update. 

    I’ve managed to get a very good builder to review the whole report and give me a quote. It’s approximately 20k. So with some contingency, we’re looking at around 25k worth of reduction. 

    The main thing the builder highlighted was that a new roof will need to happen one way or the other.
  • Induna123
    Induna123 Posts: 7 Forumite
    First Post
    Getting a new roof isn't as daunting as it sounds. Once the scaffolding is up it can be done within two days. Next door neighbour had theirs done recently. Looks great.
  • MobileSaver
    MobileSaver Posts: 4,347 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    maxxpayne said:
    Update. 

    I’ve managed to get a very good builder to review the whole report and give me a quote. ... we’re looking at around 25k worth of reduction. 

    The main thing the builder highlighted was that a new roof will need to happen one way or the other.
    It all comes down to who is more motivated; the seller to sell or the buyer to buy?
    On the one hand the seller may decide £25k isn't worth arguing over on their £825k house, on the other hand they may not be too happy paying for a brand new roof that is primarily for your benefit, not their's.
    Anecdotally, when I bought my current home, I was told by several people that I needed a new roof; fifteen years later all I've done is replace a few slates, even after the gale force winds earlier in the year...
     
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • Albermarle
    Albermarle Posts: 27,963 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    maxxpayne said:
    Update. 

    I’ve managed to get a very good builder to review the whole report and give me a quote. It’s approximately 20k. So with some contingency, we’re looking at around 25k worth of reduction. 

    The main thing the builder highlighted was that a new roof will need to happen one way or the other.
    What is your plan if the vendor says no chance of a reduction or if they only offer say £5K?

    Normally you can not just look at what maintenance costs are likely in the next couple of years, and expect the vendor to effectively pay for them all. 
  • user1977
    user1977 Posts: 17,866 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    You weren't being sold a house with a brand new roof, so you're not likely to get anywhere near the full cost chipped off.
  • RelievedSheff
    RelievedSheff Posts: 12,691 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic
    You are buying a £825k house and quibbling over £20k worth of repairs that may or may not be needed at some time in the future.

    Just put that in perspective!!

    For what it is worth when we bought our first house in 2007 the surveyor said it needed a new roof imminently. We sold it in 2019 and now in 2025 it still has the same roof.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599.1K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.