Post survey questions on a first time buy - thanks!

emujuice

Editing post as I have a new question.

The estimate of the repairs from the survey is £2000 - we were not expecting any problems beyond the repairs to the flat roof (discussed below), but there is signficant wood rot in the main roof and torn underfelting. They also recommend getting an electrician in to look at the electrics, replacing a galvanised water tank and checking for leaks around some facia board that is water stained. Plus some double glazing has gone and the rest might go soon. And the glass in the two sets of french windows is not safety glass. Basically 4 urgent matters and around 6-7 signficant matters.
We do not want to pay for any of these repairs, as we feel they've got a good price for the house and since it's empty surely they want to complete quickly. Everyone who has negotiated after surveys seems to have had to meet the vendor halfway - so in that case do we get quotes and suggest it will cost more than the quotes and include some money for our inconvenience - since the flat roof should have been repaired already?
Many thanks


hi all,
had offer accepted on a property in Sheffield - 3 bed townhouse with basement conversion and off road parking. Price at £155,000 and offered £150,000 - and accepted (another couple offered asking price but had house to sell and we're FTBs).
We've had the mortgage offer from HSBC (although they only got the valuation done yesterday - this is at what we offered - is this normal/ok? we have £19k deposit, so I presume they're not worried on getting their money back).

Going to see the solictors on friday to look at the contracts.

Now my questions are. The house is empty - so considering how far along we are with everything - how long do you think it will take to finish it all now? (or is that like asking how long is a piece of string?)


There is a leak on the flat roof extension - which we've known about all along and was promised to be fixed, although as yet isn't. Do we now get our own builders in and get a quote then negotiate on the price or wait for him to get it done. there is also a pane of double glazing that is gone - can we negotiate the price for that?

I know the majority of you will say haggle hard in the current climate, but we want this house as there aren't many of this size at this price in the area we want - and also we want to be in quickly as we're living with parents and are sick of living out of a suitcase. So what do you think is a reasonable amount to haggle down now, or if things are fixed do we stay at the price we've agreed? would it slow the mortgage down if we changed the price anyway?

Cheers for the help all!

Sorry to double post by the way, this is on the mortgage board, but I think it's better suited to here.
Cheers

Jorgan_2

It is normal for the valuation to come back at the purchase price, unless the surveyor thinks there are some issues with the property. I am yet to see a mortgage valuation for more than the purchase price. Did the survey pick up on the leaking roof ?

With regards to the roof, did you make it a condition of your offer that the roof was fixed? Do you have it in writing? I would get on to the selling agent & push for the roof to be repaired. Advise your solicitor that you do not wish to exchange contracts until the roof has been repaired.

Re-negotiating the price would normally mean the mortgage offer would have to be re-issued, in the past that has taken 2-3 days but in the current climate it can take up to two weeks.

How long should it take? I would expect you to be looking to exchange in 3-4 weeks, that is as long as your solicitor has applied for the searches before you get your mortgage offer. Some solicitors prefer to wait until the mortgage offer is out before applying for the searches.

emujuice

Thanks Jorgan, I think the searches are happening already, so hopefully they'll be quick. we don't have the roof repairs in writing, but it was certain implicit that it would be repaired. I feel like getting our own quotes on it would be best - someone else has said that we should get the costs for the repairs as an allowance. We'll talk to the EAs and our solicitors about it. The survey also mentioned the main roof might want some refelting. I haven't a clue about the costs for this at all.

emujuice

edited first post with a new questions so bumping up the board. any help appreciated. thanks

poppysarah

The house is empty.

They will want it sold.

Either the repair work is done (roof sounds a worry) or you reduce the price by sufficient to allow you to make up the difference to do it (plus some!)

Bear in mind though if it's cheap they might think they've reduced it already - but the markets are on the slide.

(It's not in one of the areas whcih flooded is it?)

emujuice

Thanks poppy sarah. nope, not flooded, it's a long way above the river. I know the area fairly well, so fingers crossed there isn't a biblical flood and we'll be ok

Talked to the vendor this weekend. He explained that the extension/flat roof is a concrete and steel and he's resealed and re-tiled it this week as it doesn't want ripping out. Hopefully that's alright (???)

But the main roof is a worry. talked to someone about quotes today, he suggests if it's concrete tiles the whole roof might want doing! eek! will get a couple in to look.
fingers crossed it's ok.
They vendor says he'll take it off the market and do the repairs himself rather than pay a fortune now. Think he'd be daft to walk away from a sale now, but i don't think he's desperate to sell as I doubt the mortgage on it is much, and he could probably still get a decent price.
Saw a similar house with out the extension garage conversion on a busier road for £5k more on saturday. not as nice at all (alhtough newer kitchen) but they'd already dropped £10k to that. I think the price we're paying is fair. IF the work is done

poppysarah

Let him do the work on it if he doesn't want to reduce the price.

It'll come back to market sooner or later. Just see how much he wants to sell it.

emujuice

true! but mortgage is all in place (and living with parents driving us nuts!)

I just want to move!!!

poppysarah

emujuice wrote: »

true! but mortgage is all in place (and living with parents driving us nuts!)

I just want to move!!!

If parents were not driving you mad, would you still want this house.

Frying pan. Fire.

Have a weekend away without the parents.