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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eazypz
eazypz avatar

2979 posts since 16/4/10

14 Aug 2018 14:45
Rez wrote: Main work that needs to be done:
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.

You’d probably be putting in a new bathroom as mentioned above, so knock off 2-3k for that depending on what you go for.


Rez wrote: 'Dangerous' electrical wiring up in the loft - some rooms need to be rewired elsewhere and have been done v. poorly

How has he deemed it dangerous? What has he seen that makes him think it needs to be rewired?
Rez
Rez avatar

7935 posts since 5/4/09

14 Aug 2018 15:06
Here's what the survey said:

The light fittings have been poorly fitted and there are areas of loose trailing cabling and the cabling
within the loft is very much loose and effectively dangerous. The BT boxes hidden beneath the shelving
in the front hallway have a large amount of loose wiring which should be carefully isolated and removed
and the electrical fitting in the cupboard in the ground floor WC have areas which have been taped up
and generally the layout is poor. There was also noted to be a plug socket within reaching distance
of the sink which is dangerous and should be removed. You must engage the services of an NICEIC
electrician to fully test the system and give you a quote for necessary remedial alteration works.
burny
burny avatar

5786 posts since 25/5/06

14 Aug 2018 15:14
If it was me I'd probably knock off the bathroom in your revised quote. Clean it up when you move in and live in for a while. Either save up the money to do it or put it through on insurance if you can. Leave all the cosmetic stuff out of the revised price.

On the locks, I'd tell them that if they have ended a tenancy they have no idea who or how many people still have keys to the property and therefore for peace of mind they should be changing them.
burny
burny avatar

5786 posts since 25/5/06

14 Aug 2018 15:16
Also if the house is of the age it sounds, you're probably going to have to have a new fuse board put in as a consequence of all the electrical updating. That's probably going to cost you £500ish.
Rez
Rez avatar

7935 posts since 5/4/09

14 Aug 2018 15:30
Agreed burny it's quite tough to communicate with them that the bathroom issue isn't cosmetic, it's just the old features are leaking so therefore needs replacing.
seenmy
seenmy avatar

6527 posts since 17/6/06

14 Aug 2018 15:47
reality is you are buying a renovation project and you need to be prepared to take that on (before you move in or to live with it till you can afford to do it), most old houses have plenty of gremlins and dubious diy wiring etc etc, id challenge you to find one that didn't and suggest even if your brought a 'done up' property there would still be a host of less than desirable 'quick fixes' you will only discover in the future

I'd think you might at a push negotiate 5k off if you are lucky and to be honest if the seller feels aggrieved by this theres every likelyhood they will fuck you over at the last minute either in paperwork delays or backing out and then all your legal costs will be down the drain (which is always the risk anyway) when I brought my place we got some money off against some damp and wiring issues but then the sellers kicked about just long enough that we missed the stamp duty deadline so most of our saving on property cost ended up with tax man anyway….


MrW
MrW avatar

2512 posts since 1/8/11

14 Aug 2018 20:36
The harsh reality is they’ve got something you want, and they know you want it because you’ve offered asking price.

They likely know they’ll be able to sell it for the same price to someone else who may not bother with a survey, or who won’t try to knock them down (as much) based on a survey.

Are you prepared to lose it for £17k? If so, walk away. If not, pay what you’ve offered.

I know as first time buyers you have an advantage over others in a chain, but if the vendor’s a c*** unfortunately that advantage doesn’t count for shit.
rural
rural avatar

17518 posts since 26/9/06

14 Aug 2018 20:54
Also £17k sounds pretty excessive imo. Always take surveys with a pinch of salt. Some issues are essential some not so much.
staygold
staygold avatar

4994 posts since 21/11/05

14 Aug 2018 21:59
Rez wrote: Also surveyor found a trap box full of cockroaches, so we've got a quote from rentokill to sort that out Laughing out loud
Where is this house?
Rez
Rez avatar

7935 posts since 5/4/09

posted 14 Aug 2018 22:33, edited 14 Aug 2018 22:33
East London, Newham.

Rural we were expecting a little bit of pushback from 17k - we outlined several areas where, if we could investigate further (re: rot in bathroom + electrician test at our own expense) that we would happily reduce it if these came back with no further work needed or a more definitive quote.

Instead they've just said that they're not a problem as the previous tenant hasn't raised any issues/they don't agree with the findings of the survey, then said we can have 1k off as goodwill (which isn't even worth talking to the bank about really).

Want to reiterate that although this house is old (late victorian) it is in no way sold or priced as a fixer-upper.

To be honest I think a lot of this pushback is because the vendor is a landlord and is used to not having the property maintained properly - if a surveyor lists things as 'urgent' - whose word am I supposed to take?

Have gone back with an adjusted amount of 10k (which is still less than 2% asking price) - will let you lot know how it goes, thanks very much for the advice all - been super helpful.
DuffMan
DuffMan avatar

14254 posts since 21/2/07

15 Aug 2018 06:35
Walked away on two properties at survey - one had serious subsidence, the other an extension without regs which was falling off the rest of the flat (Laughing out loud ). Ended up buying a place which needed a new roof with a significant discount after survey.

I would have expected the seller to negotiate a smaller reduction, it's standard practice (in all 3 cases seller was prepared to do a deal just not worth it in first 2). Walk away if they refuse unless you're rolling in it imo.
EssexBoyII
EssexBoyII avatar

6387 posts since 5/6/07

15 Aug 2018 06:46
Are they for real lol are they a fucking chartered surveyor Laughing out loud tell em to do one. C3s are as it says urgently required maintenance and potentially dangerous with wiring etc. They’ll be more willing to negotiate when 2 or more buyers have pulled out and it’s sat for months.

The agent sounds like a joker as well. What kind of idiot doesn’t even get a basic RICS survey? Even when cash buying?
burny
burny avatar

5786 posts since 25/5/06

15 Aug 2018 14:08
Is there a way to look at eBay and find out what particular products sell for?

Have a pair of Tom Sachs in UK11 that I haven't worn and want to know market value as opposed to the £1-3k BiNs that are currently up.
figurine
figurine avatar

5664 posts since 14/5/07

15 Aug 2018 14:10
There's an option in the sidebar to only show sold listings, should give you a decent indication of what items have sold for, not sure how it works for best offers though.
burny
burny avatar

5786 posts since 25/5/06

15 Aug 2018 14:11
Just realised you can tick the 'sold listings' button. Laughing out loud
swede
swede avatar

7877 posts since 21/3/09

15 Aug 2018 14:13
Rez wrote: East London, Newham.

unmeet for you and jords in dagenham Cool
Trent
Trent avatar

1827 posts since 18/1/09

15 Aug 2018 15:57
Must only be me that thinks you're the mental one to have an offer accepted then try to negotiate 17k off the price. I'd struggle to accept another offer from you.

Kadafi39
Kadafi39 avatar

1561 posts since 30/10/09

15 Aug 2018 15:58
I have never seen a homebuyers report that doesn't give an opinion of the market value and I must have seen over 50 in the last 4-5 years.

You sure towards the end it doesn't say words to the effect of: the market value at present considering the properties current condition and similar properties in the area is …………
EssexBoyII
EssexBoyII avatar

6387 posts since 5/6/07

15 Aug 2018 17:02
Trent wrote: Must only be me that thinks you're the mental one to have an offer accepted then try to negotiate 17k off the price. I'd struggle to accept another offer from you.

Having an offer accepted means fuck all
Trent
Trent avatar

1827 posts since 18/1/09

15 Aug 2018 18:11
Clearly Essex! Laughing out loud

I recently put a cash offer in for a property as I couldnt get a mortgage due to the condition of the house so I guess that's my reference point.

I also think a lot would notice a portion of 17k re-work before putting in an offer at asking. Might be a London thing though, you could probably buy 3 / 4 similar properties up North for the 500k Rez is throwing down.