House survey results in a sellers' market?

Discussion in 'Mortgages and buying and selling homes' started by TheReflex, Jan 11, 2017.

  1. TheReflex

    TheReflex Registered User

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    Hi all,

    We are sale agreed on a house and just got our survey results. Nothing major came up, only the following issues:

    1. Servicing of the oil boiler.
    2. Replace the broken glazing unit to the rear window.
    3. Repair the fire back to the fireplace.

    On one hand, it would be great if these would be fixed (or cost-shared) by the owner before we move in... on the other hand, I know this is a sellers market and we won this house on a bidding war and would hate to see the seller going to the 2nd bidder if we ask him for repairs.

    What's the normal procedure in these circumstances? Any suggestion?

    TIA!
     
  2. Gordon Gekko

    Gordon Gekko Frequent Poster

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    If I was selling a house and these issues were raised, I'd laugh out loud.

    They're more akin to things one might raise with a builder when buying a new home.

    Forget them and kick on.
     
  3. stefg

    stefg Frequent Poster

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    That's very short and inexpensive list, I would have thought that you would not want to risk an in demand house for these things.

    Also it's my experience that unless it's something exceptional or relates to planning etc that houses are sold as seen. You have paid an surveyor to give an assessment and based on that you can decide if you think it's still ok to go ahead.

    Until contracts are signed, either side can pull out of a sale so if I really wanted a house, these items aren't things that would put me off or that I would kick up too much of a fuss about.

    Another point to remember is surveyors will always find something, it's never going to be an empty or 100% positive report. If these are the primary items he found, it sounds like the house is in great condition.
     
  4. username123

    username123 Frequent Poster

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    We are in similar situation except the issue is more important. The surveyor indicated that the roof has issues including some leakage and needs to be addressed immediately. We are getting in couple of roofers to estimate the repair work over the next week.
    However, they have estimated (purely based on PDF with images from surveyor) cost varying from 5K up to 15K. What would you guys recommend in this instance? There are similar issues as OP re: boilier, single glazing etc but Im not too concerned about them. The roof though for me is a different issue, I think? House is sale agreed at 30K over asking.
     
  5. username123

    username123 Frequent Poster

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    Sold as seen up to a point though? You cannot "see" everything when making a bid, and hence certain things only come to light post-survey e.g. we couldnt get into the attic during the viewings so had zero way to know roof had issue until survey was done.
     
  6. Brendan Burgess

    Brendan Burgess Founder

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    Very few houses are in walk-in condition, and if a buyer raised a broken window with me, I would seriously consider pulling the sale.

    The roof is different unless it's an old house and the roof was obviously defective. It also depends on the price being paid. Spending €5k on a house worth €800k wouldn't worry me. Spending €15k on a house I had bought for €60k would be a deal breaker.

    Brendan
     
  7. username123

    username123 Frequent Poster

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    House is old as regards year of constructor but is quoted as "turn key" in the advert, which it is in that you could live in it tomorrow, and it was recently redecorated inside. Roof isnt obviously defective, in that you cant see a gaping hole from the road, however it just looks a shabby/worn. House is in region of 300-400K, and as I said it was 30K over asking. Hence if I had to put another 15K into the roof alone, I feel a bit screwed. I believe there is some saying about in house buying, both parties need to feel they are getting a good deal.....
     
  8. moneybox

    moneybox Frequent Poster

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    if you came to me with these trivial issues, I would be offer it immediately to the second bidder :mad:
     
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  9. moneybox

    moneybox Frequent Poster

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    Your case is obviously very different, get the repair quotes in and ask for price reduction to the value of the repairs, seller will be more than likely reduce price.
     
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  10. stefg

    stefg Frequent Poster

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    Yep I agree, by sold as seen in meant you buy it with the knowledge you have from viewing and surveys etc unless it's something are required to reveal
     
  11. username123

    username123 Frequent Poster

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    Thanks, this is my exact approach. Hoping common sense will prevail, on both sides.
     
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  12. noproblem

    noproblem Frequent Poster

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    So, what's your plan B if he refuses to allow anything? I have a feeling that's what will happen.
     
  13. username123

    username123 Frequent Poster

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    I like your optimism :D Haven't fully decided that yet. My proposed approach is to get the quotes first and see where we stand. Then negotiation I guess. If they say flat "No" to any negotiation then it really depends on the quotes. If its in region of 5K, I'm not bothered. At around 10K I'm getting bothered, 15K I'm back to renting I think.
    Being an optimist, however, even if the repairs came in at 15K and the seller took a bath on that, they are still getting 15K over the asking price. Ive been going round and round in my head with scenarios/what ifs/what have yous, so Im trying to just be rational and do it in stages. Quotes are first step.
     
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  14. gnf_ireland

    gnf_ireland Frequent Poster

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    I agree this could not have been noticed during viewings, and this is what the engineers report is there to highlight. To me, even at 5k cost I would raise it in for discussion and try and find some arrangement. The sellers may or may not be aware of the issue, but I am sure they would be open to being reasonable.

    These should have been obvious from the BER rating, and should have been questioned in advance of the offer (in my view). If the house had a C2 rating and did not make sense, then it would be reasonable to ask before going sale agreed.

    Roof is different though. I think it would be fair and reasonable to discuss with the seller and agree something between you. This will impact ANY potential purchaser !
     
  15. gnf_ireland

    gnf_ireland Frequent Poster

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    I genuinely think you have to be willing to walk if you get no movement on an issue you raise based on the engineers report. It needs to be material enough to consider losing the sale over and walking away

    This is irrelevant. Asking price is what an estate agent values the property. The true value of the property is what someone is willing to pay for it.
    The difference in this scenario is the price of 430k (for the sake of argument) was based on no issues being identified in the engineers report. The engineers report has highlighted that there is potentially 15k of repairs needed. Is the house worth 445k to you? If not, are you willing to be 435k/440k etc.
    If you decide you are willing to pay a maximum of 440k and the repairs bill comes in at 5k, you are the one who should feel you have gotten a 5k discount on the house. I know this is hard to do, but its about what you value the house to be worth

    The first question you have to ask yourself is how much you are willing to pay, including any repair work on the roof. Anything above that, you need to walk away. If the quote comes in below that, you have to consider if you want to raise it to them and risk losing the sale.
     
  16. username123

    username123 Frequent Poster

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    Yep the BER is lower rated, thats I mentioned I wasnt concerned about those issues, as I knew about them pre offer.
     
  17. username123

    username123 Frequent Poster

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    Fair point re: asking price being set by EA. While I don't know if vendor knew about roof issues when house was put up for sale, they are aware now since EA was going back inform them of roofers coming in. Therefore, vendor is already in the loop, we cant avoid that. Perhaps they are doing just as much mulling over this as I am, and are fretting that I may pull out, who knows. The joys.
     
  18. gnf_ireland

    gnf_ireland Frequent Poster

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    Yes they could be. All depends on what they knew in advance, if anything.

    They may be also looking for quotes now they know about the issue.

    Who knows, but that's why you need to have your max price in your head and be willing to walk if it goes above that
     
  19. username123

    username123 Frequent Poster

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    Say the roof comes in at 15K. With whom should we be we be re-negotiating - via the estate agent or our solicitor? Contracts are apparently in the post so wondering is the estate agent basically irrelevant at this point?
     
  20. gnf_ireland

    gnf_ireland Frequent Poster

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    Personally, I would say the estate agent. The sale could fall through because of this.