General Discussion: Property thread


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joeyjojo
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4656 posts since 24/8/06

14 Feb 2021 21:44
Tack! Oops
darko
darko avatar

1065 posts since 4/10/12

posted 17 Feb 2021 07:55, edited 17 Feb 2021 07:55
Anyone ever re-negotiated a sale price after the survey (and just before exchange)? If so any tips?

We had the survey done on the property we’re buying a lot later in the process than we’d hoped, and it brought up some issues around damp and the fact that it’s been rendered using an inappropriate material at some point in its life
(It’s a cottage from the 1840s).

Nothing that urgently needs doing but we want the cost of any potential future works to be reflected in the price we are paying for it.

We’re getting a heritage builder and a damp specialist to take a look later this week to let us know their thoughts. Depending on the quote I can see us wanting to get around 5 - 10k off the offer price because of the works, but imagine the seller is going to be awkward about it.

She’s desperate to exchange as being pressured by the top of the chain (a new build housing company) to exchange ASAP. We were supposed to be exchanging this coming Friday at her request but have managed to get it pushed back given the survey was only done last week.

It’s stressing me the fuck out and is really annoying as it should have been avoided if nationwide didn’t kindly fuck up our survey date 7 times (at least we got a £300 good will gesture to say sorry right Cool )
sydneyking
sydneyking avatar

5088 posts since 26/9/09

17 Feb 2021 07:59
You must really want this house
darko
darko avatar

1065 posts since 4/10/12

17 Feb 2021 08:03
It’s a nice house, bit damp but it’s nice an all
Rirawin
Rirawin avatar

9566 posts since 17/7/05

posted 17 Feb 2021 08:59, edited 17 Feb 2021 08:59
Yup, with ours there were a few things that needed to be done that was identified in the survey. We forwarded on the report to the estate agent and highlighted the works that we either wanted done before we exchanged (receipts and photos to prove work) or the amount it would cost to do the work deducted from the selling price. The seller ended up ensuring all the work was done before the exchange.

Funnily enough we were accidentally cc'ed on the email chain the estate agent had with the seller. Within the email thread the seller asked the estate agent whether to, reduce the price, get the work done, or back out from the sale and relist (!). Estate agent advised to have the work done as no doubt these issues would be brought up again if another buyer was to do a survey on the property. Plus any reduction in sell price would impact their commission!
seenmy
seenmy avatar

6662 posts since 17/6/06

17 Feb 2021 10:19
i think in the end it depends how much you want the house, did you already negotiate on asking price at the start? if so seller may feel they have already considered this in the price they agreed.

the buying system is so fucked up, with everything being on the buyer to find out rather than the seller to disclose which wastes a ton of time/money in the process.

if the seller can't afford to walk away it might strengthen your position, but they could also just think fuck you and re list it
darko
darko avatar

1065 posts since 4/10/12

posted 17 Feb 2021 10:40, edited 17 Feb 2021 10:40
It’s already fallen through once for whatever reason and she is close to losing out on her new build, so I think we hold the cards

Was listed for £240-250k, we really liked it so offered a fair £245k as it had loads of viewings lined up and had been on the market for one day, offer was accepted

They are now being awkward about letting tradesmen in to further survey the damp problem and are adamant that we need to exchange on Friday for some reason, despite the fact that it deffo isn’t happening now as we haven’t even sent the solicitor our deposit yet. Not sure if it’s because we are a young couple they think they can fuck us about

If they continue to be awkward I’m tempted to tell them we are willing to walk away and see how they like that. We really love the house but not willing to be taken for mugs, especially when I’ve been quoted potentially £15k to rectify the rendering problem
Rdes1974
Rdes1974 avatar

271 posts since 29/1/14

17 Feb 2021 10:57
Darko - firstly would would the developers be pressuring them? That seems odd.

Secondly - they need to discuss the issues with you. If it costs 10k to sort out then absolutely they need to take it off the asking price or get it fixed. Its pretty simple. Discuss that with their estate agent.

If they want to be dicks about it then thats up to them and I would simply tell them you will walk away. The issue is quite a big one and needs sorting before you make the purchase.
Jimmy326
Jimmy326 avatar

4593 posts since 22/9/07

17 Feb 2021 11:10
The time, hassle, and mess it would take to get possibly £15K's worth of render/damp work done makes it extremely unlikely they will be willing to rectify themselves before sale, especially as they are pushing for completion on Friday! Sounds like only option would be for them to reduce price, but if they need that money for their new purchase then that also is an unlikely option.

You're not gonna find an 1840's build that doesn't have a damp issue on survey. Survey's don't take chances on anything - is the issue being made bigger than it really is? I would have thought your mortgage company would put a retention on funds if it was a major problem that affects the sale value?

As seenmy says, ultimately it depends on how much you want the house and yes, the buying process is fucked up.
darko
darko avatar

1065 posts since 4/10/12

17 Feb 2021 11:18
We don’t know how bad the damp issue is in reality, that’s why we have booked a damp specialist to visit the property on Friday to let us know more. Understand old houses have damp but the surveyor raised concerns about inappropriate materials that will definitely need rectifying at some point soon.

Yeah the only option if there is an issue is for them to knock some money off the purchase price or we walk away and they lose the onwards purchase, I don’t see how we are being unreasonable.

We also booked a heritage builder to visit and quickly inspect the render, but they’re now refusing to allow him to attend the property as they find it ‘unreasonable’. It’s an old bint and her slightly younger but still old bint daughter we are buying off, so think boomer stubbornness isn’t helping matters Laughing out loud
Sneakysbest
Sneakysbest avatar

2040 posts since 28/1/12

17 Feb 2021 11:26
Sounds like an absolute nightmare. Would think long and hard about still going through with it.

Might be as I’m jilted that our current flat had an issue with damp due to crap extensions/conversions to building, and it has been a never ending circus of money to try and rectify, but it always seems a way to come back in some form. Spent way more than double what we thought it would take, and our building is a 1930s ex pub conversion….
darko
darko avatar

1065 posts since 4/10/12

posted 17 Feb 2021 11:33, edited 17 Feb 2021 11:33
I know the surveyor has probably used an inappropriate damp meter to check the house but I still think we need to get it checked out by a professional before committing

I hate boomers

also thanks for the input and help guys. who needs martin lewis at money saving expert when you have a load of strangers on a fashion forum
seenmy
seenmy avatar

6662 posts since 17/6/06

17 Feb 2021 13:44
if the sellers are not allowing access, I would have further concerns that there could be other skeletons in the closet, it would be irresponsible to not get at least 1 quote from a specialist trade so you have a real idea on the works scope and cost, make sure included in this is putting back any decorative finish (both internal/external) as that could run a few grand also depending on area affected

better to be safe and even if you dont get something knocked off, you know what you are getting in for should you proceed
Hanto
Hanto avatar

3205 posts since 30/11/09

17 Feb 2021 16:16
Not able to advise on negotiation, but can advise that old houses can be demanding. Is it listed? May be worth checking if the work to repair has to be in keeping with original spec. Sounds like you are that with the specialist builder though.

They are great to own/live in but always throw up quirks.
chinaski
chinaski avatar

355 posts since 15/7/10

18 Feb 2021 10:09
having a real nightmare with this… went for my 'snagging appointment' two weeks ago to find out the property didn't match the floor plan along with the issues below. still haven't had a response from the developer, neither has the agent and i have already exchanged… can anyone think of the likely outcome or advice?


- Living room measurements are 40cm shorter (width) than the floor plan.

- Second bedroom is 30cm shorter (width) and 20cm shorter (length).

- Master bedroom is 10cm shorter (width) but correct length. I understand there may be flex on measurements as the flat is being built, but given that the bedroom is already an awkward layout in terms of the en suite and main doors opening inwards into the room, this impacts the size of the bed we have already purchased.

- Balcony is not as shown in the photos, there is a wall covering half of it so technically only half a balcony. To call this a ‘penthouse’ is very misleading to be honest.

- There was no radiator in the en-suite bathroom.

- All the images of bedrooms have floor to ceiling windows in the CGI, whereas our bedrooms have window sills which knock an important 30cm off rooms that are already coming up short.

chinaski wrote: Exchanged on my first flat just before Christmas. New build property with help to buy equity loan… since exchanging the complete date has been pushed back twice and developer is refusing to compensate or anything and resulting in my having to sort new living arrangements until it's finished… tempted to tell them i'm pulling out and seeing what they say but wondered if anyone's got any thoughts before i do..
Jimmy326
Jimmy326 avatar

4593 posts since 22/9/07

18 Feb 2021 10:14
Are you sure you were at the right apartment?
sydneyking
sydneyking avatar

5088 posts since 26/9/09

posted 18 Feb 2021 10:35, edited 18 Feb 2021 10:35
Laughing out loud
illwill
illwill avatar

4142 posts since 17/5/04

18 Feb 2021 11:24
Oh dear oh dear. Hope you haven't bought any Huaraches recently.
swede
swede avatar

9977 posts since 21/3/09

18 Feb 2021 12:01
Eek what homebuilder is that? compo face on and go to the papers for sure
MoB
MoB avatar

37224 posts since 31/8/04

18 Feb 2021 12:20
shambles