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Sorry for the clickbait title... In process of buying (being evicted)...

I've had EICR and home buyer report done. Items which have cropped up:

Most windows need new panels and or locks. £5k

Garage needs new roof, if not a rebuild. £10k

One C1 and several C2 items in EICR. £1k

We're about 3 weeks from exchanging. Would you knock the offer price down to cover remedial work? 

Other minor items which I'll pay for.

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Guy at work said he was just gazundered by 'a couple of grand' owing to work his buyer says he needs to do.

He's annoyed but he really doesn't want to lose the sale as he's got somewhere else lined up and is racing for the SD deadline. 

If it's a small gazundering i reckon most sellers will swallow it rather than risk losing a buyer. The worst they can say is 'no' and then the choice is back with you.  

Edited by sammersmith
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A friend of a friend is a retired surveyor. He said the defects were easily seen so we should have spotted them. And thus can't expect the vendor to drop their price. (Excluding the EICR items and garage which we weren't allowed to inspect).

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The process of buying in this country is a real shamble... 

People are negotiating price without full disclosure of defects, offers are non binding, some surveyors are totally useless. 

Apparently you need to spot defects yourself without any training. I mean how did you not spot the garage roof need to be rebuilt and how did you not know it would cost you 10k? /sarcasm off

Good luck @Sausage

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Posted (edited)
 

The process of buying in this country is a real shamble... 

People are negotiating price without full disclosure of defects, offers are non binding, some surveyors are totally useless. 

Apparently you need to spot defects yourself without any training. I mean how did you not spot the garage roof need to be rebuilt and how did you not know it would cost you 10k? /sarcasm off

Good luck @Sausage

I forgot to mention they couldn't find the garage keys when we viewed!

Edited by Sausage
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The process of buying in this country is a real shamble... 

People are negotiating price without full disclosure of defects, offers are non binding, some surveyors are totally useless. 

Apparently you need to spot defects yourself without any training. I mean how did you not spot the garage roof need to be rebuilt and how did you not know it would cost you 10k? /sarcasm off

Of course offers and not binding they are subject to a survey which may outline a serous issue such as Japanese Knotweed or dodgy electrics or some or minor issues.  How would a layman kn ow if the electors in a house are safe they are not an electrician.  Does a buyer get on the roof of a garage when he goes to view a house. Or the roof of the house?

Most houses in the uk are of an age where they may be problems the vast majority of which will be minor cosmetic but now always.  

 

Unless these were items the vendor/EA had already made you aware of, £15k minimum.

 

Yes if he wants to lose the house.  Most people will negotiate and meet in the middle.  

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Look at the end of the survey, and see what it says the house is worth, as it is and with dodgy roof etc. If it's worth more than you're paying for it, then fix it yourself after completion. 

If it's the same, then you're getting exactly what you paid for. 

Only if it's less, then and only then do you have a case and go back to negotiate. 

That's what the other side will be thinking if you do try it on. 

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The place we're buying needs work doing to the roof - about 10k the surveyor reckons.  Thing is, we offered 20k below asking, and the place had already been reduced from 900 to 850, so we figure that we'll keep to our original offer.  To be honest, the risk of having to re-do our mortgage at the moment would put me off from renegotiating anyway.....

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The place we're buying needs work doing to the roof - about 10k the surveyor reckons.  Thing is, we offered 20k below asking, and the place had already been reduced from 900 to 850, so we figure that we'll keep to our original offer.  To be honest, the risk of having to re-do our mortgage at the moment would put me off from renegotiating anyway.....

You tend to not have to unless the price drops to a point where the mortgage goes through a max LTV, amount borrowed stays the same on price reductions its just the deposit amount shifts - which you tell them.

Or you can get them pay part of your stamp duty. done that one before 

Edited by captainb
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Look at the end of the survey, and see what it says the house is worth, as it is and with dodgy roof etc. If it's worth more than you're paying for it, then fix it yourself after completion. 

If it's the same, then you're getting exactly what you paid for. 

Only if it's less, then and only then do you have a case and go back to negotiate. 

That's what the other side will be thinking if you do try it on. 

Oh come ON! Every vendor and every buyer has their opinion on what a place is worth. And you're saying whatever the surveyor says is FACT? Funny how my surveyor says the property is worth exactly what I offered (which they would know from the mortgage company). What are the chances!

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Oh come ON! Every vendor and every buyer has their opinion on what a place is worth. And you're saying whatever the surveyor says is FACT? Funny how my surveyor says the property is worth exactly what I offered (which they would know from the mortgage company). What are the chances!

Okay, I'm just telling you the likely response. 

You didn't think you'd just knock 20k off with no resistance ? 

If it was your car you were being mugged for, you wouldn't just hand over the keys would you?  The seller is going to react the same way...

Unless... he can do the same further up the chain. 

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Okay, I'm just telling you the likely response. 

You didn't think you'd just knock 20k off with no resistance ? 

If it was your car you were being mugged for, you wouldn't just hand over the keys would you?  The seller is going to react the same way...

Unless... he can do the same further up the chain. 

I agree the vendor will think the house is worth £xxx because that's the price we agreed on in its current condition. However (and you might not have seen my edit which possibly came after you replied) we weren't given access to the garage... Which it turns out needs a rebuild!

So my plan is to knock off the price of fixing dangerous electrics plus a new garage.

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OK.  Try it. 

Have you ever played poker? Are you any good at it? 

You're starting a poker game. You've got about £1000 on  the table. The seller has nothing. 

So.... yada yada yada, you want 10k off for the garage. 

Seller says "no". 

Your move?

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Well if you don't ask, you won't get it. We've just been through similar. Offered on a house that appeared to be in show home condition which the vendors had forgotten to mention needed a new roof. We didn't want to do that level of work so pulled out and they practically begged us to give them a chance to put a new roof on. We declined because we didn't trust them to do a decent job and we were worried that there were other nasty surprises that they'd done a better job of hiding. We did have the luxury of having another house around the corner that we looked though 

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Have you been to view the garage since getting the report? 

The I would definitely try negotiate spitting the cost of the repair if you get a couple of quotes.

 

I do think going in at 10k+ of the bat... well if i was that vendor, with the way the market has gone around my area, i would have it back on right move tomorrow, with your reduction added on as an f you lol. 

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4 hours ago, Sausage said:

Sorry for the clickbait title... In process of buying (being evicted)...

I've had EICR and home buyer report done. Items which have cropped up:

Most windows need new panels and or locks. £5k

Garage needs new roof, if not a rebuild. £10k

One C1 and several C2 items in EICR. £1k

We're about 3 weeks from exchanging. Would you knock the offer price down to cover remedial work? 

Other minor items which I'll pay for.

I have been looking for houses since February, before lockdown. It is clear to me that agents and homeowners are prepared to hide anything they can: cracks in brickwork, easements, flood risks, TPOs, broken boilers and taps, leaky roofs, undeclared building work with no planning permition or building control approval. People have spent the last 20 years bodging and remodelling their homes with terrible DIY; cracked mortar and brickwork are common around shoddy UPVC windows and doors. 

But the worst things? Banks are lending on these places without insisting on surveys (they do a desktop valuation in many cases). Other less savvy buyers just look at the agent pictures or the wonderful kitchen untis and start trying to bid 5010% over asking in case they miss out.

I spent £800 on a structural survey, by a chartered structural engineer, for a house we were going to buy in May but pulled out after structural defects were identified as needed. I wouldn't myself bother with an EICR or homebuyers report anymore. I wouuld assume most houses need at least some electrical work, older ones lots of it. I would assume a new boiler is needed on anything over 10 years old and new pipework if going from a system boiler with a water tank to a combi boiler.

Look for cracks around the windows, newly painted areas covering damp or cracks on the inside. Take binoculars to look at the roof. Look along the line of roof tiles or walls for bowing areas. Check the planning and building control records on the local authority website, check the police crime map, check the noise levels from road and rail (google noise extrium map), check the flood risk for both sea, surface water and reservoir flooding. Check on google earth using the desktop application so you can use the historical imagery slider which allows you to see aerial shots going back up to 1940 sometimes - you can see what the owner and neighbours have been up to. Pay £3 and download the title plan to see if there are any restrictive covenants or if the owner has a mortgage. Check on the local authority planning website to see if it is in consertvation, AONB or any other restricted areas that might make your extension plans difficult. Anything like the locked garage: when you make an offer put on the offer 'subject to a second viewing and inspecting the garage'. Take a torch and look in the loft at the roof timbers. Check there is mains drainage.  Assume most flat roofs will need work. Check the guttering and the ridge tiles on the roof. Are hte barge and soffit boards rotten?

Just keep doing this for loads of houses and offer what you think it is worth - don't be afraid to lose £1000 to save £30,000 down the line. Assume everything the owner and agent says is possibly a lie.

It is a real grind for me at the moment - just wasted two hours travelling to see a dog of a house that looked OK on the website - basically anything that looks cheap on RM is cheap for a reason - even then it is usually hideously overpriced.

Best of luck all, keep fighting the fight for the right to decent housing at decent prices.

 

Loads of people out htere will just go ahead and buy but one day, if there ever is a crash, you'll be there armed to take advantage of good bargains and avoid the dogs.

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Best of luck in whatever you decide to do. All I would say is that 10k is new garage territory (single?), not new roof (we've been quoted less than that for our flat roof three bed house, although only for re-felting etc). 

If this garage issue has genuinely just come to light, make the vendors aware it's a possible sticking point and get some quotes from builders for the minimum outlay required to get a serviceable garage. 

If they denied you access when viewing they seem to have been trying to hide something. Maybe this approach would seem the most genuine way that isn't just making up rounded figures. 

Edited by btd1981
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Have you been to view the garage since getting the report? 

The I would definitely try negotiate spitting the cost of the repair if you get a couple of quotes.

 

I do think going in at 10k+ of the bat... well if i was that vendor, with the way the market has gone around my area, i would have it back on right move tomorrow, with your reduction added on as an f you lol. 

No only found out this afternoon. Problem is we need and were told there's a "working" garage: we have various bikes, tools, hugh end turbo trainer. We'd actually wondered about building a larger garage at the other end of the garden, but expected to be able to use the current one until then. I just feel duped by the EA and the vendor.

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No only found out this afternoon. Problem is we need and were told there's a "working" garage: we have various bikes, tools, hugh end turbo trainer. We'd actually wondered about building a larger garage at the other end of the garden, but expected to be able to use the current one until then. I just feel duped by the EA and the vendor.

Could you rent a garage nearby? Then you could put any money you get off towards the double garage.

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No only found out this afternoon. Problem is we need and were told there's a "working" garage: we have various bikes, tools, hugh end turbo trainer. We'd actually wondered about building a larger garage at the other end of the garden, but expected to be able to use the current one until then. I just feel duped by the EA and the vendor.

Absolutely nothing wrong with going back to them post-survey and asking for a reduction, especially for the things you couldn't inspect. Personally I think both gazundering and gazumping on the actual day of exchange is bad form and I would never do it myself, but it sounds like you are talking about revising your offer pre-exchange, based on new information that has come to light. What have you got to lose?

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Sorry for the clickbait title... In process of buying (being evicted)...

I've had EICR and home buyer report done. Items which have cropped up:

Most windows need new panels and or locks. £5k

Garage needs new roof, if not a rebuild. £10k

One C1 and several C2 items in EICR. £1k

We're about 3 weeks from exchanging. Would you knock the offer price down to cover remedial work? 

Other minor items which I'll pay for.

It is was listed as fine, yes. Knock the ass outa them.

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OK.  Try it. 

Have you ever played poker? Are you any good at it? 

You're starting a poker game. You've got about £1000 on  the table. The seller has nothing. 

So.... yada yada yada, you want 10k off for the garage. 

Seller says "no". 

Your move?

bye

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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