Areas of concern from valuation report HELP!

rozeepozee

The 'property developer' vendors were probably hoping that the unsuspecting buyer would have a basic valuation for mortgage purposes rather than a more detailed homebuyers or full structural survey and that these problems wouldn't be revealed. English Law places the burden of finding these problems upon the buyer, hence the saying "let the buyer beware".

So far as the discount is concerned, if you are ready to move, you still have a lot of bargaining power as the market is slow in most places. Ultimately 4 grand is not a huge reduction, I would tough it out, stick to your guns and ask the EA to send you details of other houses and look at them- but this doesn't guarantee you that property if you really want it. My personal view is that there are always other properties, but I'm pretty unemotive when it comes to bricks and mortar and I know not everyone feels that way. Good luck whatever you decide

LouLouHelen

would you expect to swallow some of the cost of this type of work?
I mean a total rewire and a part rebuild of a porch aren't small problems.

Doozergirl

The vendor will not have the same perception of you swallowing cost as you do. Unfortunately, this isn't a retail environment where something is a set price and you get to knock money off if there's some damage to it. You got them to their lowest price already so they've very little left to give you.

I think you should present them with the survey, specialist reports and quotes and ask them straight out what they want to do about the problems. It means you don't have to use the "drop the price or we'll pull out" card just yet (you can save it for later if they aren't forthcoming); If they make a compromise they will feel like they're giving you something, not like you're forcing them to do something they don't want to.

I suppose it's a kind of reverse psychology... What would make you happier?
a) You offered to do something for someone and they were really grateful.
b) Someone asked you to do something and you did it.

I'm just waffling now!

rozeepozee

I agree with Doozergirl. She suggests a rather less abrasive approach than me - probably more likely to work! However, my thoughts were that if it seems these people have bought the house to do up for a quick buck, what else might there be lurking that your survey (a homebuyer's not a full structural) hasn't picked up on? I didn't say this in my earlier post as I really don't want to make you all paranoid and I thought twice about posting this as I'm only speculating, of course, but it's perhaps something to consider. I know you've spent money on this house already but, as you say, unless they reduce their price, you're gonna have to spend more on it straight away. If the sellers are owner occupiers, maybe I'm barking up the wrong tree and they're just a bit half-arsed with their maintenance.

Ian_W

rozeepozee wrote: However, my thoughts were that if it seems these people have bought the house to do up for a quick buck, what else might there be lurking that your survey (a homebuyer's not a full structural) hasn't picked up on?

But rozee, that's a bit like saying, "if my auntie had b*lls, she'd be my uncle" - is it any more likely than with any other purchase/sale that something else is lurking? I'd say less likely, LLH knows the work that's been done and has checked that over and found what lurks beneath, anything else is in the lap of the gods - as it is in any sale IMO.

I'd also agree with D/G as to the approach. These vendors are trying to make a profit from renovating this house. I think their response will be governed by how much they have left from purchase price + costs to date. If it's not a lot I think they'll be reluctant to move even if it means losing the sale. I think on the pointing and porch, if I was them, my response would be - that's how I bought it - no lintels didn't make it fall down for x years, why should I pay?

Where I think you've got a much stronger case is the electrics. If they've fitted a new kitchen they'll have had to have done work on them like your sparky says they have. Was I dreaming or doesn't anything more than changing a light bulb now need "part p?" approval? I'd ask them where that is for the work in the kitchen. They're likely to have a problem with that with any buyer and might see the sense in keeping on board you by paying some or all the costs of a rewire.

Not been a troublefree move for you LLH, so best of luck & keep posting.

jobbingmusician

I am not an expert, but I can negotiate. The unsafe electrics seem to be an EXTREMELY strong bargaining point, to me. The law changed last year so that unqualified people can't do their own electric work (you can Google this!) .....so why don't you ask the vendor to show you proof of the electrician's qualifications? You can then show them your report on the electrics. You could threaten to report them because the work is unsafe (I don't know who to, but there must be someone, surely, to uphold this new law???) As I understand it, the person who does work like this is liable almost indefinately, irrespective of whether the house is sold or not. You are in a VERY strong position to 'encourage' the vendor to rectify the faults....

Doozergirl

Part P would apply to major work involving one or more complete new circuits. I guess the vendor hasn't done that much, else LLH's electrician would have picked up on it.

Ian_W

D/G wrote: Part P would apply to major work involving one or more complete new circuits.

Not sure that's strictly correct if work is in a kitchen, bathroom or outdoor circuit.
From ODPM website:
A: You do not need to tell your local authority's Building Control Department about:

* repairs, replacements and maintenance work; or
* extra power points or lighting points or other alterations to existing circuits (except in a kitchen or bathroom, or outdoors).

You need to tell them about most other work.
If you are not sure about this, or you have any questions, ask your local authority's Building Control Department.
Website with flow chart is HERE and that certainly says to me that you may well need approval for Kitchen etc works that fall short of a new circuit being installed. Not certain, but I wonder if the vendors will be?

Point being, LLH, house wiring generally doesn't have to conform to current Building Regs when you sell a house but if they've done work on kitchen, bathroom or outdoor electrics since Jan 2005, that [at least on the face of it] does and may provide you with a stronger bargaining position.
BoL.

JimArnold

You are allowed small extension eg a porch withou planning permission but it should still have had building regs - unlikely if it has no lintels over windows. If its been done over 5 years ago then you have no worries - which it sounds like - at worst you'll just have to pull it down before it falls down!

The gas & electric are fairly standard in a property of this age - new regs aren't retrospective but it's usually a good idea to upgrade

Asbestos can be expensive to have removed - most types aren't dangerous unless disturbed which can result in asbestos dust

The water tank I'd have replaced but it is a very good fireproofing agent - which is why they used it in the garage so I'd leave that alone

Bottom line is so them the report and ask for a price reduction - they may well offer you a few £k off if you complete on time. If not and the house is what you want then go for it a report like that shouldn't put you off

LouLouHelen

We have written a letter outling the issues and sent it by fax to the agent with copy of the report.

Bascially we have detailed the problems and verbal quotes given by builder and electrician. We have explained that these issues were unexpected costs and were therefore not factored into our finances and we have no budget for them.

Will let you know how we got on - fingers crossed everybody!