Hi all - the survey has shown up loads of expensive work and we need to drop our offer to reflect that. We cannot afford to pay the current price we have offered and complete all the work.
My question is- how do we go about it and any tips on how to be successful?!
Do we go straight to the Estate agent or do we need to inform our solicitor as well? This is my first purchase so I'm just not sure what I'm doing! I don't want to get on the phone and sound nervous and unsure of myself. We need to reduce offer by 10k.
Our survey recommended getting various things checked, including the electrics. We got an electrical installation condition report, which is meant to be impartial and will code things as C1 (danger present, needs to be fixed immediately), C2 (potentially dangerous, should be fixed urgently) and C3 (improvements recommended). It might not be as bad as you think - and if it is then at least you'll have a very clear idea about what's required that you can show to the vendor (and use to shop around for quotes). Ours cost about £110, but the price varies depending on the size of the property.
Like some others, I think it might be hard to justify knocking money off for the kitchen as that must have been apparent when you viewed the house but I suppose you could talk to the agent about it.
I think it is completely fair when you would have made a lower offer had the problems shown up at survey been known at the time.
In the OPs case, I think she may struggle with the kitchen and also with the wiring. If it says the house needs urgent rewiring due to unsafe wiring then yes but most houses will require the wiring updating to "meet current safety regulations" as the regulations change so often.