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Advice about renegotiating price, please
Comments
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Hi all,
Just a couple of clarifications - scaffolding definitely required for chimney and there wasn't the option of getting a full survey with the mortgage (I would definitely have taken it if there was!)
Anyway, we'll see what the week brings...
You could ask the guy who did your buildings survey if he'll add an valuation. That part is done from the desk, so he wouldn't need to revisit the property."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
You seem to be quite judgemental on the vendor, what they have or haven't done and whether they have a mortgage or not is neither here nor there. You don't know their life or circumstances.
They have not undertaken maintenance, so that is reflected in the price the house is being marketed at and the value of a house in that condition appears to be £2000 less than your offer, which would be a reasonable amount to ask as a reduction.
You have asked for £12000 off which suggests you are expecting to be able to double dip. Getting a house cheaper because it is not in tip top condition and then getting the vendor to pay for the maintenance needed that is already factored into the asking price0 -
Blimey, some strong feelings being expressed here; not sure if I didn't give enough initial detail or if posters are just making some assumptions. £245,000 is basically top whack for a house in the area and other houses have sold recently for the same or less in what appears to be much better internal and external order, so I really don't see how the asking price reflects the work needed. If I pay for all the work needed, I'll basically be paying £257,000 for the house which is way over the odds.
The mortgage valuation picked up the wall ties issue but nothing else, whereas my surveyor was absolutely adamant that the other issues were even more urgent to address (I spoke to her once I'd received the survey to check my understanding of what it said). My inference from that is that the valuation survey was a pretty cursory affair.
Anyway, thanks to everyone who took the time to post.0 -
If you ask for opinion from people who are impartial then you must accept not everyone is going to agree with your line of thinking.
We don't know what value the surveyor put on the house because although you spoke to them post survey you didn't ask. For all we know she might give a figure close to the original valuation.
We don't know what the actual cost of repairs is because there does not appear to be any quotes from builders mentioned.
Without that information I'm not sure how you can state you would be paying £12000 over the odds.
With regard the roof there is no mention of it leaking suggesting the flashing is still sound. I would have hoped both you and the valuer would have spotted signs of historical staining on the ceiling and walls around the chimney breast even allowing for the very dry conditions of late.0 -
Absolutely. I didn't mean to seem defensive. I think I tried not to post too much information but ended up not posting enough.If you ask for opinion from people who are impartial then you must accept not everyone is going to agree with your line of thinking.
That's true.We don't know what value the surveyor put on the house because although you spoke to them post survey you didn't ask. For all we know she might give a figure close to the original valuation.
The EA organised a quote for the wall ties (£3K) and the surveyor estimated £6-7K for the chimney and bay window. The mortgage valuation devalued by £2K.We don't know what the actual cost of repairs is because there does not appear to be any quotes from builders mentioned.
Without that information I'm not sure how you can state you would be paying £12000 over the odds.
The surveyor picked it up and the vendor's son confirmed rather sheepishly that it was a problem.I would have hoped both you and the valuer would have spotted signs of historical staining on the ceiling and walls around the chimney breast even allowing for the very dry conditions of late
I totally accept and expect that there will be maintenance costs involved in buying an old house, and if the asking price reflected that I wouldn't even be asking the question. I do think, though, that if you set a price at the very top end of the local market there's an implication that your house is in fairly good nick.
I doubt the vendor will agree to £12K but I'm hoping she agrees to drop the price to some extent.
Apologies for not giving enough detail initially.0 -
Blimey, some strong feelings being expressed here; not sure if I didn't give enough initial detail or if posters are just making some assumptions. £245,000 is basically top whack for a house in the area and other houses have sold recently for the same or less in what appears to be much better internal and external order, so I really don't see how the asking price reflects the work needed. If I pay for all the work needed, I'll basically be paying £257,000 for the house which is way over the odds.
But your the one who put in an offer of £245,000. Why did you do that if you have seen houses that have sold in a better condition?0 -
Hi all,
Just a couple of clarifications - scaffolding definitely required for chimney and there wasn't the option of getting a full survey with the mortgage (I would definitely have taken it if there was!)
Anyway, we'll see what the week brings...
You could have instructed your own survey.0 -
Yes, but on the advice of my solicitor I didn't. (The vendor was taking a long time completing the paperwork and submitting the contract and my solicitor was concerned that the vendor wasn't sure about selling so advised me not to pay for a survey until the situation was more definite.)You could have instructed your own survey.0 -
Our survey said pointing was needed and a new roof. Got a qualified roofer to check and quote. Said all was fine and not needed at all. Our mortgage value matched and we accepted that for a house built in the 60s there would be things to do. We had an asbestos check come back with nearly 5k worth to make right. Didn't even contemplate asking the vendor for a reduction. It's our issue to deal with not theirs and all these things should be factored into the price you were happy to pay initially give or take the mortgage valuation. 12k is a mad figure to reach in my opinion, but if u get it then good luck to you.0
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