General Discussion: The life advice thread. Never do, say, eat or drink anything without asking how to do it in here first!


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sofashionmuchamaze
sofashionmuchamaze avatar

707 posts since 12/12/13

14 Aug 2018 10:10
what a joke
seenmy
seenmy avatar

6527 posts since 17/6/06

14 Aug 2018 10:17
depends how competitive the market is where you are buying really, also how competitive priced the house is in the area based on other like properties to start with and then how motivated the sellers are to actually sell, if they are not motivated to sell then you really have very little chance of getting them to reduce.

misled
misled avatar

4240 posts since 3/1/02

posted 14 Aug 2018 10:24, edited 14 Aug 2018 10:24
They're obviously angry because you've reduced your original offer after acceptance. I guess they may try to go back to the other person who offered? Comes down to how much you want it and if they are prepared to negotiate at all.
Rez
Rez avatar

7935 posts since 5/4/09

14 Aug 2018 10:38
But surely you expect a reduction in the offer if things come up in the survey no? The offer is an offer based on the extremely limited time you spend in the house on the viewing - anything important that comes from a surveyor needs to be discussed.

Re: Seenmy market is slowing down around that area and it's one of the most expensive two bed houses in that area.

I assume they're motivated to sell as they've already chucked their tenants out.

We've also massively reduced our timings to fit around them, as we did have a three month break clause that we've managed to get out of.

Things like this in their response is really taking the piss [Bold is their response]:

On page 24, the survey explains that both locks were broken. The door locks will need to be replaced and we would like this to be done before we move in.



The ‘Check Out’ report for the recent rental of the property stated that both front and back locks were securely fitted and in working order. This report was produced on 13th July after the building survey was conducted (11th July 201Cool. We do not consider the replacement of locks to be necessary to enable the sale of the property.



Dee
Dee avatar

11127 posts since 22/11/07

14 Aug 2018 10:45
Sounds fair to me to ask for the reduction considering the surveyor's findings. If they are are being so dismissive then it would put me off and probs move on to another property (depends how perfect the place is or could be), and surely if they disagree they would commision their own condition report but not entirely sure how the whole home buyer reports work these days.
ct
ct avatar

57 posts since 19/10/10

14 Aug 2018 10:57
Surely it massively depends on the house price/area/demand and the actual validity of the irems in question etc

To be fair if a buyer told me they wanted a tradesman to come in and replace door locks prior to them moving in, I’d likely tell them to do one

Rez
Rez avatar

7935 posts since 5/4/09

14 Aug 2018 11:02
Bit weird to sell a house with broken locks imo. Leaves the buyer in a pretty shit position if anything were to happen between exchanging contracts and moving in.
andymakesglasses
andymakesglasses avatar

20167 posts since 26/1/06

14 Aug 2018 11:02
Are other properties in the area going for the asking price?

Are Home Buyer Reports in England the same as in Scotland where the surveyor gives a market value (separate from the asking price)? If so how does that compare to the asking price?

You're right in theory that if things are flagged up in a survey then it's reasonable to adjust your offer to reflect those but as seenmy says if the house is already competitively-priced then you might have to decide whether you buy it close to the asking price or risk losing it.

What kind of jobs need done?
ct
ct avatar

57 posts since 19/10/10

14 Aug 2018 11:11
Yeah I mean having broken door locks on your house is mad in general but are they actually totally broken or just broken in the opinion on the surveyor

I would say it’s quite a trivial item, potentially which a tradesman would wack a quote for a few quid in for (which you/they could fix yourself)
Rez
Rez avatar

7935 posts since 5/4/09

14 Aug 2018 11:18
I wouldn't say the house is too competitively priced. As I said, it's one of the most expensive 2 bed houses in that area.

The surveyor doesn't give a market value like they do in Scotland (that would be much better) - but rather lists items from a scale of 3 to 1 - 3 being the items that we've factored into the reduced price.

Main work that needs to be done:
water ingress inbetween the rear extensions of the neighbouring properties
Defects on the roof - inadequate support for the chimney, needs gallows brackets installed, brick sticthing required on roof, chimney stacks are cracked and need replacing.
First floor bathroom fixtures are 'very dated, leaking and corroded', surveyor speculates that this has led to rot under bathroom floor, water marks on ceiling on ground floor below show a leak has happened in the past.
'Dangerous' electrical wiring up in the loft - some rooms need to be rewired elsewhere and have been done v. poorly
Also surveyor found a trap box full of cockroaches, so we've got a quote from rentokill to sort that out Laughing out loud


Rez
Rez avatar

7935 posts since 5/4/09

14 Aug 2018 11:20
ct wrote: Yeah I mean having broken door locks on your house is mad in general but are they actually totally broken or just broken in the opinion on the surveyor

I would say it’s quite a trivial item, potentially which a tradesman would wack a quote for a few quid in for (which you/they could fix yourself)

'Both the front and rear door locks were broken and I was somewhat surprised to note that the front door
lock was almost entirely broken and the door could have been pushed open with slight effort. Door locks
must be replaced now'

I'm not paying for that Laughing out loud
andymakesglasses
andymakesglasses avatar

20167 posts since 26/1/06

14 Aug 2018 11:32
On the face of it it does sound like it's overpriced but it does depend entirely on the neighbouring market.

If you were to pay the asking price and do the work (theoretically, I know it costs real money) do you think the property would be worth more than you'd spent? That also has to be factored into the equation unfortunately.

The seller should definitely replace the locks at their expense. I'm surprised they're so relaxed about the property being insecure!
JustinCredible
JustinCredible avatar

2453 posts since 11/6/08

14 Aug 2018 11:42
Depends how badly you want the house, it's all just one big negotiation of which this plays a (relatively) small part.

You're in as strong a position as you ever will be as a first time buyer with no chain but it ultimately comes down to how badly you want the house / how invested in it you already are vs how desperate the seller is to secure a quick sale.

Forget about the morality of it all and ask yourself how much are you willing to pay (knowing the potential costs from the Survey) then negotiate from your £17k down to that point. Only threaten to walk away if you are willing to do so!
james_fox
james_fox avatar

538 posts since 1/8/10

14 Aug 2018 11:57
they're taking the piss, walk away IMO
Dee
Dee avatar

11127 posts since 22/11/07

14 Aug 2018 12:22
I would forego the bathroom fittings and potential floor damage, if dated you're likely to rip out and replace anyway but the roof and locks would be a concern and any costs to sort any damp issues. It's all worth negotiating especially if the price is on the top end for the area but like JC says all depends how bad you want this one.
ct
ct avatar

57 posts since 19/10/10

14 Aug 2018 12:35
Fair enough lock sounds fucked, hardly major expense though surely

Wouldn’t be particularly having evidence of a historic leak or a box of cockroaches as reason for substantial financial adjustment, but roof and drainage would need sorting therefore need to come to some kind of agreement for the likely cost for these imo

As said all boils down to how much you want the place, might not be worth the hassle if your adamant and they’re having none of it
swede
swede avatar

7876 posts since 21/3/09

14 Aug 2018 12:43
am I right in saying the solicitor (and then mortgage provider) aren't going to be happy with the survey? isn't that what surveys are for?
Rez
Rez avatar

7935 posts since 5/4/09

posted 14 Aug 2018 12:47, edited 14 Aug 2018 12:47
Mortgage provider does a very basic survey but honestly that's just to make sure the house isn't completely falling apart.

You then do an independent survey with a RICS surveyor to get an actual idea of the state of the house - and can pay for full building survey or a homebuyers survey (former is more detailed)

Re: the locks CT it's not the cost it's the risk of of having a building not being secure while its currently vacant (vendors live in australia, tenants are out) that have significant implications for insurance etc.
andymakesglasses
andymakesglasses avatar

20167 posts since 26/1/06

14 Aug 2018 12:57
Is the mortgage provider happy with their survey and the property's asking price? Up here mortgage providers won't lend more than the market value stated by the surveyor in the Home Report, regardless of the asking price or what the prospective buyer is prepared to pay.
swede
swede avatar

7876 posts since 21/3/09

14 Aug 2018 13:01
Rez wrote: Mortgage provider does a very basic survey but honestly that's just to make sure the house isn't completely falling apart.

ah right, that is fair enough