Can anyone shed light on this situation.

Catpuss66

a relative who is down sizing currently in a small rented house had a offer accepted on a flat couple months ago subject to contract. She had a level 3 survey done ( it’s a period property) bought up wood rot & damp issues & the roof needs maintenance but no sinking fund. She has reduced her offer which they were( prices given for damp work but no outcome on roof) they have accepted the reduced offer. Just by chance she was looking at other properties because we don’t trust the seller as they have since divulged they knew about the damp as they had a previous damp survey from previous interested purchaser( she rushed us to book survey then delayed by 15 days) what she found is they had put the property back on the market quietly with a different EA. (who is the same person as the freeholders management board think he has been a freeholder in the past) we informed their main EA that’s when they agreed the reduced price. Anyone any idea what they are up too? My relative is 82 but by no means stupid & quite quick off the mark.

sheramber

If you mean they didn’t mention the damp and marketed it with another agent, I expect what they are up to is trying to get as much money as they can for the house.

Albermarle

Many older properties have damp issues, that over cautious surveyors often make sound worse than they are.

However if the damp really has caused some wood rot issues that could be more serious depending how extensive it is.

Do you know the details ?

Catpuss66

https://forums.moneysavingexpert.com/discussion/comment/82143017#Comment_82143017

yes have had a full damp survey probably £10k max but that means why that work is being done she has to stay longer in rental & furniture in storage. Not something that was expected especially when they already knew, not sure their EA knew.

Catpuss66

the weird thing they asked if she could complete in 4 weeks why say that & put it on with another EA?

sheenas

You say a flat? The roof would be responsibility of all the Flats and therefore complex to solve.

Not disclosing details could land them in deep trouble. I would walk away they seem like trouble.

Catpuss66

https://forums.moneysavingexpert.com/discussion/comment/82143103#Comment_82143103

they have actually moved out, thanks for your input but see what happens tomorrow when they are told to take the active ad down right move it’s down as sold. Says somthing he’s in law😂

twopenny

If the problem worries you find another property.

No good trying to second guess what the seller is up to or what might happen with the renovations.

If they are paying bills on an empty property they probably do want to move fast. Or maybe you are delaying through worry and they want commitment so they can sell or move on.

gm0

England - it is pretty normal to agree to cease marketing with an agreed price memo of sale. It shows good faith once due diligence for an agreed buyer begins. For a bit. Sold STC. Reasonable ask.

Seller has options to not agree to cease and just dump you. If they think you are still quibbling and renegotiating ongoing leveraging the survey beyond the reasonable. Or just delaying using it.

And if you don't like it being still on the market (they won't stop marketing). Then you can pull out. No tears.

Nobody is committed to anything until exchange. Maybe you don't look like a committed buyer at a solid price (for valid reasons doing some minor adjustments for survey findings yet 10k is nothing much. And if the other issues are smaller…… But findings may be inflated by butt covering hired help and sellers sees it partly as just gaming and price chiseling or buying time stringing them along over trivia to delay things while holding a soft option for flat A - while also looking for a better one alongside (at your end).

So if hearing about remarketing perhaps pushes you to produce. Or get off the pot. Why not give you a nudge.

Neither you nor they control this situation fully.

As a naive youth - I got hung out to dry by a seller where I went into due diligence on a false prospectus as what turned out to be 2nd string buyer. They were realistically never going to exchange with me. If the lead buyer did exchange it was sold and my costs were my problem. If they didn't and it dragged - I was spooled up to keep the transaction moving. A win for that seller and agent. Left a bad taste. Expect selfish. You won't be disappointed. Agent rules have moved on a bit. Human nature hasn't much.

Catpuss66

https://forums.moneysavingexpert.com/discussion/comment/82143159#Comment_82143159

she is committed, spent money on level 3 survey & a damp survey so they know she is serious. Stressful for us, but the thought was as soon as we could exchange she could move in. Seems now she cannot do that until the damp & wood rot sorted & we have some answers about the roof. The roof won’t bother her as she is ground floor but what if the roof needs replacing, they could give her a bill £10k + as a partial freeholder.

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82143139#Comment_82143139

I never did get around to responding to you last August post about this property so to remind everyone just how bad this property might be see below -

A replacement roof could be a big ticket item bearing in mind there is no sinking fund.

Is this a basement flat in a victorian townhouse? Lots of damp plasterwork is a potential indicator of a need for an extensive damp course, possibly throughout.

Quarry tiles on earth sounds like there maybe a need for more than an intermediate membrane, if you are to prevent potential migration of damp to the walls. Concrete slabbling with appropriate insulation and membrane maybe more appropriate.

Given the evidence of damp, is all the woodwork rot free? What about condition of joists under the wooden floors? Are the electrics relatively up to date with a modern consumer unit and RGB? Double glazed or single glazed windows? Modern and efficient gas combi boiler or all electric heating?

Putting aside known condition issues, is your mother aware victorian conversion flats tend to have just rudimentary noise insulation ( if any ) between flats and noise from adjacent neighbours may prove irritating or worse.

All in all, with what you have shared by way of condition issues, does not seem like a suitable ' project' for an elderly ( 82 year old ) lady, regardless of being in a 'very good' area and its period character and charm.

Struggling to understand why you feel she would be happy there rather than ultimately distressed at what she has taken on.