Requested reduction in price based on building survey findings likelihood of it being accepted ?

Worpy1

I have had an offer accepted on a bungalow that had been on the market since January this year. I had a level 3 building survey completed last week as the property was built c1940. There were several minor findings but also some (red) findings regarding the roof and membrane.

I have got one roofing quote for this which is c£10k the roofer and surveyor have also added a caveat to say that they may find further issues during the course of completing the work.

Armed with this information I have gone back the estate agent to say that I either want a reduction in the price to take into account the remedial work required or for the seller to get the work completed prior to completion.

We only just have the searches back so this isn't a last minute request were the seller may feel they have no option but to accept. Just wondering what people think my chances are of the seller accepting one of the options ?

I love this property it was the first one of many that I viewed but I am not in a position to purchase a property that needs essential work from day one 

MattMattMattUK

Worpy1 said:

I have had an offer accepted on a bungalow that had been on the market since January this year. I had a level 3 building survey completed last week as the property was built c1940. There were several minor findings but also some (red) findings regarding the roof and membrane.

I have got one roofing quote for this which is c£10k the roofer and surveyor have also added a caveat to say that they may find further issues during the course of completing the work.

Armed with this information I have gone back the estate agent to say that I either want a reduction in the price to take into account the remedial work required or for the seller to get the work completed prior to completion.

We only just have the searches back so this isn't a last minute request were the seller may feel they have no option but to accept. Just wondering what people think my chances are of the seller accepting one of the options ?

I love this property it was the first one of many that I viewed but I am not in a position to purchase a property that needs essential work from day one 

No one will be able to say, it depends how the house is priced compared to market, how quickly the seller needs to sell, if they need to hit a specific price for their next house purchase etc. It might also depend whether they even see it an issues, surveyors can be over zealous and whilst the report might show red and you think it will cost £10k it may also not be that bad. Depending on the area it may also be a location where bungalows do not stay that way when sold and get converted, in which case a builder is not going to care about the roof.

The ability of anyone on here to give you an answer any more accurate than pure chance is basically zero, too many variables, not enough data. 

p00hsticks

Worpy1 said:

Armed with this information I have gone back the estate agent to say that I either want a reduction in the price to take into account the remedial work required or for the seller to get the work completed prior to completion.

It's not really a good idea to ask the sellers to fix things - you'll have no say in who they get to do the work, the quality of it or, as you aren't the customer, any comeback if there are later problems with it. They'll just want to get as cheap a job as they can.   

youth_leader

As a bungalow owner if I was selling and the buyer's surveyor said the roof needed doing, I'd definitely not agree to have it done before completion.  Huge disruption and mess, I wouldn't be able to cope with it.  Did you notice any damage to the tiles/flashing?  Was it part concrete tiles/part flat roof?

I had a survey done on my own house before I sold and the surveyor said my roof had 'reached the end of it's life'.  Five years on I drive past the house and the new owner still hasn't replaced it.  If I was you I'd go on Facebook and find two locally recommended roofers, and get quotes from both.  Might have to offer to pay for their time, but could be worth it in the end.  Good luck.

Bigphil1474

OP, as above, depends on price. Seller may have priced it with the roof issues in mind, or they might not have a clue. The survey on the house we bought had 2 full pages of 'issues' with the roof. Showed it to our roofer and he said none of them were important. We haven't had to do anything with the roof a year on.

I'd agree with above, don't ask owner to fix. They might just get a bodge job done. You may well find a compromise in the offing, meeting somewhere in the middle. The seller might also say the house is worth a lot more if they get the roof repaired.

DullGreyGuy

Worpy1 said:

I have had an offer accepted on a bungalow that had been on the market since January this year. I had a level 3 building survey completed last week as the property was built c1940. There were several minor findings but also some (red) findings regarding the roof and membrane.

I have got one roofing quote for this which is c£10k the roofer and surveyor have also added a caveat to say that they may find further issues during the course of completing the work.

Armed with this information I have gone back the estate agent to say that I either want a reduction in the price to take into account the remedial work required or for the seller to get the work completed prior to completion.

We only just have the searches back so this isn't a last minute request were the seller may feel they have no option but to accept. Just wondering what people think my chances are of the seller accepting one of the options ?

I love this property it was the first one of many that I viewed but I am not in a position to purchase a property that needs essential work from day one 

Did the roofer look at it for themselves or are they going on what the survey said was required?

Would echo others concerns over asking the vendor to do the repairs, they may do a botch job or not work at all and just tell you the roof is fine. If you are going to get work done then do it yourself and then you know the quality of the repairs and have redress against the workmen if it turns out to be a problem. 

House buying is ultimately a negotiation which may or may not be equal depending on the motivators for each side. Some people are reasonable and others like to play a game. The vendor may state the price reflected the roof issues so won't give an inch. They may say they'll go halves but on the day of exchange say they've changed their mind and now want another £7.5k else they'll walk away. They may be desperate to sell and be willing to accept the price reduction. No one can say with certainty what they'll do now and what else they may do between now and exchange. 

Section62

Worpy1 said:

....
I love this property it was the first one of many that I viewed but I am not in a position to purchase a property that needs essential work from day one 

Unless there is water leakage into the interiors or fabric of the property, or a risk of things falling off the roof, it is probably unlikely this would be "essential work" needed on "day one".

Surveyors working for buyers tend to find fault with everything they can, and don't always explain clearly what really needs doing.  This is good if the survey helps negotiate a reduced sale price, but is a waste of time and money if requests for reductions end up collapsing the sale.

Smalltownhypocrite

If the roof is bad enough to need £10k of fixing it would be visible on viewing surely?

You can see sagging and structural issues on the roof externally, you can also see the state of the tiles or if theres been damp from a leak.

£10k is a LOT to request off (the UK average for a full replacement is £7k) especially if the roof is working and theres no major issues. Sounds like a roofer saw you coming. Its not the sellers job to pay for you too have a nice new roof that will last the next 25 years+, you are buying a second hand product it will not be new condition. Its more is their any 'intimidate' issues to 'fix' (not fully upgrade).

We got £2000 knocked to for several completely snapped rafters (damage from a previous botched repair) that need fixing and a large flat roof that needs replacing due to it leaking badly. 

Alfrescodave

If I was the seller, I would not be taking any notice of a single £10K quote. At least you need 3 quotes to show that a) the work needs doing and b) that the price was realistic. 

Hermann

The real question here is would the buyer continue at the original offer price now they have seen a survey.

The seller can be asked to reduce price and they may well do so but the important decision is with the buyer, at what price would they no longer continue to purchase?

It's best for the buyer to decide on that figure as they enter further negotiations rather than rely on the sellers response to inform them. Don't waste any more time & effort on a non starter.

WIAWSNB

Worpy1 said:

I have had an offer accepted on a bungalow that had been on the market since January this year. I had a level 3 building survey completed last week as the property was built c1940. There were several minor findings but also some (red) findings regarding the roof and membrane. 
I have got one roofing quote for this which is c£10k the roofer and surveyor have also added a caveat to say that they may find further issues during the course of completing the work. 
Armed with this information I have gone back the estate agent to say that I either want a reduction in the price to take into account the remedial work required or for the seller to get the work completed prior to completion. 
We only just have the searches back so this isn't a last minute request were the seller may feel they have no option but to accept. Just wondering what people think my chances are of the seller accepting one of the options ?
I love this property it was the first one of many that I viewed but I am not in a position to purchase a property that needs essential work from day one 

There's nothing to stop you trying to arrive at a compromise figure. I was going to say 'no harm in asking', but some vendors will actually take it badly, and might become uncooperative on this and other issues.

If this is the original roof on a 1940's house, then you can expect it'll need some attention at some point, but it's only essential if it's clearly failing at doing its job. 

£10k is a lot, so I'm going to hazard it's a full strip-down and recover? If so, is it new tiles/slates or reusing the old? As others, I wouldn't suggest that they get it done, but there's another reason for this too - if they do have their house 'reroofed', that could well make it a lot more attractive to other buyers compared to other properties. So, if they fork out circa £10k for this, and it looks nifty as a result, then don't be surprised if they remarket it as well...

Do you know about their circumstances? Have they found their new home? That could have a bearing on how much they may be willing to budge.