Please could you share your experiences of 'haggling' due to the results of a homebuyers survey.(12 Posts)
We're in the process of buying a house. We're in a position to proceed fast. We offered asking price on a house the day it came onto the market. We've had our survey done. A few issues came up. Nothing major. One thing is what was obvious to us when we looked around the house and we offered asking price regardless of that potential later expense. The other thing was something we could not have known about and we have requested the vendors put right before we move in.
They are saying the survey is wrong and that it is not such an urgently needed job. However, accept that it may need doing in the foreseeable future so have offered to to take halfthe quoted price off the total of the house. We're talking about a quote of £1000 - so £500 off. Peanuts in the grand scheme of things. Is this usual? Would people normally accept the half or refuse and ask for the whole amount to be taken off?
I think it depends how 'desperate' the vendors are to sell. If you offered the asking price on the day it came onto the market they must be delighted and it is obviously a saleable property so they don't have to reduce it at all.
What is it ? I only ask because if its something that would just be down to usual wear & tear, dependent on the age/general condition of the house, then it may be reasonable for any purchasers to assume it would be something that would need to be done at some point in the not to distant future.
Unfortunately, there is really no "norm". Its all down to negotiation. If you want the house and can afford it (and the repairs needed), then you may need to bite the bullet.
I'm not sure anyone else would have paid asking price so quickly but we've been looking for 14 months and it's the first house that has suited our needs and we wanted to ensure we got the house.
It's the garage roof. And we've already lived in 2 properties with leaking garage roofs - one we owned, which we replaced and the other a rental.
Did you have a proper quote for that job or is it a guess? I suppose you're in a rush and will have to grin and bear it (the half of the cost, I don't think you'll do better than that).
I would disagree with Ragwort about the house being eminently saleable just because it had an immediate offer. We have put in an immediate offer on a house we saw on Monday because of personal circumstances and previous vendors having just pulled out. If we'd had more time at our disposal we might have waited a few days etc. Sometimes it's more about who's purchasing than who's selling
I think that sounds reasonable. For a relatively small sum, I'd agree to their sharing the cost like that.
That's the word I am looking for.... what's reasonable, rather than what's the norm.
Yes, that is an official quote.
I've never either asked for or given a price reduction due to survey results.
In my experience surveys always come up with a few bits and pieces - but all homes have ongoing maintenance costs and I'd factor that into the price I offer. More major issues I guess you'd have to address.
I would expect their offer to split the difference rather than lose the property you really want for such a (relatively) small amount.
Good luck with the sale process and eventual move.
They only agreed to one quote though and it is possible that the £1000 is on the steep side (though that's what we paid to replace our garage roof)
Thank you. I think you are all probably right. It's sometimes hard to see sense when you're in the middle of the process.
We got quotes on some work that needs to be done on our house - we offered considerably under the asking price, and got it accepted (14 k less).
Following the HBS, we got builders out to give us quotes on various work that needed to be done, and on the basis of the whole house needing rewiring, new bathroom and kitchen - all of which we had guessed and budgeted for - we were all set to exchange, then got quote on building work on the front of the house which was for £1500 minimum. We worked out we just couldn't afford more than £500 towards it with our savings as they were. So I haggled them down to what amounted to 15k off the asking price in the end. I did suggest splitting the cost, but they went straight down to my first request of taking a grand off the price. (I'm still quite chuffed about this btw )
It doesn't hurt to try for the maximum amount in other words
As you say, there's no norm, just what's reasonable. However, I'd say that as you're offering the asking price, and the house isn't OK to live in as is (unless you want to replace your car with a boat!) it would be reasonable to ask for the whole £1k - then you'd be getting what you offered on. I also would assure the vendors though that you won't be asking for any more money off!
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