ready to exchange and my buyer is trying to fleece me!

gemmiegoatlegs

We are virtually ready to complete on our long awaited sale, the buyers are two mortgage advisers who are planning on renting our house out. last week i had contact from both their solicitor and my estate agent saying the surveyor who did their valuation had picked up possible problems with damp and had concerns about a chimney breast that has been removed in one of my living rooms. The buyer arranged to come round with his builder to check how secure the chimney breast is, and found that it is not properly supported and will be a pretty big job to get fixed. Within 10 mins of his leaving my agents phoned me saying I could either get the work done or reduce house price to the tune of £2500. This may not seem like a lot, but house is only selling for £81500 and i've already reduced from £90K. Basically the builder said the whole thing might collapse at any time.

The builder was obviously previously acquainted with my buyer, first name terms etc.

My agent did not advise me to get a second opinion nor offer any ideas on negotiating this issue. I got two builders in over the weekend and both were dubious that the work needed doing at all, but said they could reinforce the brickwork for a fraction of the quoted cost. I called my agent today and let her know I would not be paying their inflated price as I do not believe their builder to be impartisl. She then tells me "Oh, that figure (2.5K) was high because it included the damp course as well. Now i have had a damp course done three years ago on all but one wall which is covered by a guarantee. The valuer who came was here for 5 mins and had no damp meter. I told the EA this and she said it was to cover the one wall, even though no damp had actually been noted.

Now, correct me if I'm wrong but you can't go around asking vendors to reduce their house prices based on problems that are not there???!!! I am totally paranoid that they are all in in together to fleece us so close to the finish line and I'm unsure as to my next move. Has anyone had a similar experience with buyers attempting to knock off thousands based on imaginary flaws in the house? An imaginative form of gazundering, maybe? Should I get my solicitor involved to insist that surveys are carried out by proper impartial people? Would it be feasible to ask their bank to send their own surveyor (billed to them of course)?

I feel like everyone has something to lose at this point as we have all shelled out on surveys and legal fees.

tomstickland

Sounds a bit too convenient to me. I really dislike trying to pull the price down in this manner. If the house is still well priced then they can shell out the money to fix it.

It all depends on how much you want to sell. You can say to them "it's this price or no sale".

mrs_deadline

I suggest your next moves should be 1) first get agreement with them on what the realistic figure is, not including non-urgent or non-essential work, and then 2) offer to go halves with them on that.

Doozergirl

I'd tell them that if they could provide specialist reports stating what needs doing and why then you will refund the cost of those reports back to your buyer and then address the issues for them. At that point you can decide whether it would be cheaper to organise things yourself or knock money off.

What did they do when they builder came? Did they pull up any of your carpets or anything?

For the record, it's a structural engineer that needs to look at the chimney breast wall and decide what needs doing. Whilst they may have an idea, it isn't really a builders place.

If they want to knock money off then they should substantiate their reasons properly.

pinkshoes

I would suspect something dodgy is going on, as you can't possibly diagnose a damp problem without using one of those gadgets on the wall!! And if it's had a damp course just 3 years ago, then doesn't that usually come with a guarantee?

Personally I would believe the independant builder over someone they've sent round that knows them on first name terms!

I would show them your results, say you'll get the chimney re-inforced, and tell them that there isn't any damp. (And if there is, check guarantee from previous damp course).

BobProperty

pinkshoes wrote: »

I would suspect something dodgy is going on, as you can't possibly diagnose a damp problem without using one of those gadgets on the wall!! ....

I can. And I've also heard of plenty of "experts" who claim to have found damp when there hasn't been any there.

pinkshoes

BobProperty wrote: »

I can. And I've also heard of plenty of "experts" who claim to have found damp when there hasn't been any there.

It depends if the "expert" is working for the buyer or the seller...

I presume if the wall has mould growing up it, or is damp to touch, the OP would know about it!!!

teabelly

You could tell them the price of the property reflects the condition it is in. If you have the work done the new price will be £86k as the property will have an uplift due to not needing major works any more Two can play at that game. If they walk away pay the few hundred quid or whatever to have the chimney properly supported so that another buyer doesn't bring it up.

What mortgage company are they buying with? They might be doing a closed bridge purchase and instant remortgage as they think your property is undervalued and the extra off the price is to make their figures work better. Their offer suggests they think it might be worth 100k. Have any similar properties sold for that figure within the last 6 months? If so, I suspect this is what they could be up to.

Doozer's suggestion of getting proper reports not just a builder's opinion will flush out whether they are genuine or just trying it on.

Can you ask for a copy of the valuation report with the surveyors notes marked? Can you remember the surveyor's name or the company he/she was from? If so you could ring up the company and talk to them directly and ask what s/he has found as you are concerned obviously. They are usually helpful. If you get a copy of the valuation report and the valuation figure is scrubbed out then you will be pretty much certain they have had it valued for higher than the purchase price.

BobProperty

pinkshoes wrote: »

It depends if the "expert" is working for the buyer or the seller...

Or the Damp Course company.

pinkshoes wrote: »

I presume if the wall has mould growing up it, or is damp to touch, the OP would know about it!!!

But if neither of those were happening "what is the problem?", is the question.

Rick62

Of course they can ask to reduce the price, of course the builder is in league with the buyers and you can do what you like. It is a price negotiation, pure and simple.

You could say, 'sorry, the price agreed reflects the current condition, any faults are minor and, in you opnion reflected fully in the current price. Or you could say fine, I'll take off £2500, or you could say the reports are minor and fully reflected in the price, but as a gesture of goodwill you will reduce the price by £500.

Your EA is rubbish, he should be telling you the above. Why not tell your EA that he can negotiate any reduction for you, but whatever he agrees comes off his fee!

Suzy_M

Mmmm?

Buyers are mortgage advisers and the estate agent you will be paying doesn't seem up to speed. Any connection between the two parties?