Aggressive buyer Exchange issue

Albermarle

I'd get three independent roofer quotes, and take it from there. Even a felt flat roof should last longer than 15 years, and as folk have said, just because perhaps one crack or bubble forms does not mean it 'needs' immediate replacement. I've put off replacing a wee flat roof over an en-suite for 25 years now - Cromopol is great stuff.

I have a small flat roof over an extension, which was done over 25 years ago and still is OK.

I can see it close up out of a bedroom window and no cracks or bubbling.

It does not get much sun, so maybe that helps.

gwynlas

My flat roof is almost 20 years old and there was a patch repair done 4 years ago. Have recently had it painted with fibreglass as a precautionary measure and they offer a lengthy guarantee.

I would remarket the property perhaps with new photos

steelsncrete

I am not in rented yet I have lined up an onward rental. Buyer originally offered 20k under, EA pointed out I’d just had an asking price offer a fall through, (bottom chain issues).. So buyer offered five under. In hindsight, probably never intended paying that and in fact has potentially got 17k off with the roof anyway….

I live in West London where property prices are high, starting at around 600k bed houses with gardens and garage, (I know)! So a 12k roof on a 600k property.

Anyway, thanks for your help, resigned myself to all of this and trying to be very Zen about it. Only problem now is buyer has gone very quiet indeed. Perhaps I should’ve offered a free ham-shandys for life in my best and final!

TroubledTarts

If you want out quickly and have made some money over ownership then I can understand you giving into this buyer.

Just ask yourself...is this the last time in the process they are going to try and knock you down?

steelsncrete

https://forums.moneysavingexpert.com/discussion/comment/81962024#Comment_81962024

Actually possibly broken even I think…I tried to work it out, taking into original cost of buying, what I’ve invested in the property, the market n sales costs, probably into negative equity realistically.

ExEstateAgent

Tell your EA to put it back on the market as the buyer seems to be stalling.

WIAWSNB

Ok, a £600k property value puts some perspective on it - the roof cost is relatively insignificant, and is the sort of variation in offers you could expect in any case.

So, please clarify - did they offer the full asking, and then the £20k reduction because of the roof? If so, that's doable. Or did they make a reduced offer, and then try a further £20k off due to the roof?

What do you think of the roof's condition? And chance of some pics?

As before, ask at least two recommended roofers out to assess - does it need doing now, or can the job be stalled? Ballpark quotes for upkeep over the next 5-10 years, and ditto for replacement.

£20k is a lot - how large is this roof? And has anyone quoted for GRP - the best solution?

If you are ok to remarket, then I'd suggest that if the roof needs doing now, it will be better to have it done yourself and then remarket, as 'new roof' is music to folk's ears. But it depends on what this guy is actually offering you.

steelsncrete

Wiawsnb, buyer has had around 20 off overall. The wee problem is this puts me into negative equity, property was priced to sell. So will cut my cloth accordingly down the line. Being a so-called golden buyer will help I hope.

Anyhoo buyer accepted my offer. Err, yay? Onwards n upwards.

steelsncrete

Thanks all.

WIAWSNB

It's a very uncertain market, and could become more so.

I think you have made a good call there. It's a 'trivial' (you know what I mean!) sum over a few years, and will soon be history.

Best wishes with your next move.