Thsnks for your response ... You seem to suggest they by simply asking for a renegotiation on price or at least to discuss it you get your deposit back and deal over?? Think that would be a bit dramatic on their part they can always say just say no but deal still onOf course it depends on the nature of the issues.
You can ask but I doubt you will get a reduction. The auctioneer is the vendors agent so you should tell them that given the issues you are going want a reduction to cover these costs.
How would you feel if you had your deposit returned next day.
Thanks....significant enoughI’d say it is likely the vendor would return to the underbidder(s) rather than agree to a reduction. How significant is the extra work required?
Anyway in answer to query it would be the auctioneer
Roof on extension needs replacing...If the defect is significant and other purchasers' surveyors are likely to spot it, then in many cases a reduction can be agreed to move the sale forward.
The vendors may or may not have been aware of the issues, but if genuine and not normal wear/tear they might prefer a reduction in price than further delay with the risk of an under bidder also discovering the issue and seeking a further reduction in price.
Would you be comfortable sharing the nature of the issues?
Thankyou for that very helpful ....it is an executor sale & we will supply surveyors report when asking.You can only ask. They might ask to see a copy of the surveyors report
They might reject it out of hand and go to underbidder/back to market
They might come to the table and negotiate
They might accept it straight out.
It depends on the nature of the issue and as Leo said whether or not they were aware of it
It also depends on the type of vendor. Executor sale? Trading up? Trading down etc? If an executor sale than the significant amount divisible by the amount of beneficiaries may not actually be that significant
In my opinion then that is in your favourThankyou for that very helpful ....it is an executor sale & we will supply surveyors report when asking.
From experience it is best to seek a meeting with vendors in person to explain the situation. A bit more difficult with an estate sale of course but worth an attempt.Thankyou for that very helpful ....it is an executor sale & we will supply surveyors report when asking.
Thankyou for this very helpfulThe legal status is that the property is still on the market and your deposit (paid to the selling agent?) is merely an expression of interest.
I would be reluctant to supply the surveyor's report to the vendors free gratis as it has cost you money and is your private document. By all means have the repairs costed and tell the vendors you want the selling price reduced in the light of the defects. If they refuse, tell them the deal is off and demand your deposit back.
Thankyou for your response very helpful yes deposit paid to estate agent.The legal status is that the property is still on the market and your deposit (paid to the selling agent?) is merely an expression of interest.
I would be reluctant to supply the surveyor's report to the vendors free gratis as it has cost you money and is your private document. By all means have the repairs costed and tell the vendors you want the selling price reduced in the light of the defects. If they refuse, tell them the deal is off and demand your deposit back.
That sounds good... Sometimes it's hard to know how exactly to approach/ word it so above very helpful thankyouIn my opinion then that is in your favour
There could be a number of beneficiaries so ‘the hit’ may not be as severe.
Executors sales tend to want to go smoothly as the property may be empty and there can be complications re that etc
If the issues are genuine and you have them costed go back to the agent and submit them your surveyors report.
Outline your concerns re the issues and say you are looking at approx coatings for remedying.
Put it to the agent that you are still interested in the property and would like to complete the purchase (if you still do) but ask is there room for negotiation on the sale price.
Come back with your costings. Give them a new amount you would be prepared to pay. Be reasonable and possibly prepared to compromise/negotiate/ meet somewhere in the middle. If you are not you will either walk away or the vendor will.
Mathepac is right it is your private document. You have paid for it. However it is only if use to you in relation to this property. Offering the report to the vendors shows you are keen and are being as fair and transparent as possible. If it as en executors sale this sometimes holds value.Thankyou for this very helpful
I would be reluctant to supply the surveyor's report to the vendors free gratis as it has cost you money and is your private document. By all means have the repairs costed and tell the vendors you want the selling price reduced in the light of the defects. If they refuse, tell them the deal is off and demand your deposit back.
Not so, the report has already yielded its value to the OP. The value of these reports is information.The document has no value at all to the buyer if they don't buy the house, it would have served its purpose if they do.
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