To not share home buyers survey?

[kentgal]

I am in the middle of negotiating a house offer. The survey advised it wasn't worth what the seller was asking for. The seller won't discuss price unless I send the full survey. Am I being unreasonable not to share it?

What would be your reasons for not sharing it?

I think it's your decision but if you want to negotiate the price down you need to share the survey. Otherwise pay the originally agreed price and keep it to yourself. Expecting them to just accept your word on it is a little odd I think.

Why wouldn't you? Are you over exaggerating to try for a bigger discount?

What concerns you about sharing it?

I would not share the entire contents of a full structural survey. I would expect to sell this to the vendor at half the price I paid or similar if they want the full report. If it is a valuation for mortgage purposes, that is somewhat different. You have nothing to lose. Have you discussed this with your solicitor?

Doesn't the survey have a "summary" section which mentions their valuation? Could you just send them that part?

mummyoflittledragon - Sell it to the vendor! Why on earth would they pay you for it!

It's normal to sell a structural survey. I paid for one for a house I was planning to buy for my Dad. We were put off the sale and I sold it to the next person that was interested in it for £150 less than I had paid.

The document has value. Don't give it away .

Lemonsandlimes

I said if vendors want an entire structural survey. These are costly. Obviously if you’re proceeding with the purchase, this wouldn’t apply. In talking about when pulling out of a sale. Why would I give vendors unwilling to negotiate with me something I’d paid approx £1k for?

What is in it that you don’t want them to see? I think I may be missing something but I really don’t get this at all. If we had buyers saying there were significant issues with our house and they wanted a reduction in price, I’d be asking to see the survey- why is that so weird?

@Oakmaiden I already sent summery section with valuation on it and that price was agreed. Which was fine but then seller changed his mind and won't negotiate. I also shared information on main issues. But he won't now even discuss price without full copy

It's in your interest to share it. I couldn't be arsey just for the sake of it really.

Let the seller refuse to negotiate on price and then they can sell for 20% less once lockdown is over

If you decide to proceed and expect them/need them to reduce the price so you can afford repairs, it's only fair to show them extracts. There are things that might be obvious to both sides that need doing, ie if say there's a very old fuse box then both sides would realise electrics need doing, but something like an issue with the damp proof course might not be so obvious unless you know what you're talking about and why should they just take your word for it.

The only other option might be to take the survey into their estate agent and let them read the extracts.

Why would I give vendors unwilling to negotiate with me something I’d paid approx £1k for?

In order to get them to reduce the price of the house. If you’re asking them to take a hit on price how could you possibly ask them to pay for the evidence? That’s just plain bonkers.

We had similar issues a few years ago op. We just sent the relevant parts of the survey and the valuation. That's what our solicitor advised us to do. Don't send the full survey though.

I was in the same position when buying my first property. If you want the house at a renegotiated price you have to share the full report.

High time everyone moved to the Scottish property market practice. Sellers are legally required to pay for a tightly- regulated independent survey and valuation before it goes on the market. Then every viewer is entitled to see the same survey. Sellers estate agents provides an online link to it.

I think it is reasonable to send survey to seller. I was sent survey from buyer via agent when I sold a house.

Why would I give vendors unwilling to negotiate with me something I’d paid approx £1k for?

Because it’s your bargaining tool. If you walk away, you’ve lost that £1,000 anyway.

We shared the survey. The house was up for 47k, came back worth 39k.
Obviously many years ago.
Mortgage company isn't going to agree to a house worth far less than the mortgage.
So they had no alternative but to drop to 39k, in the end.

What type of survey was it? What did it flag up?

I don’t understand why you won’t share it. What have you got to lose...?

I was in a similar situation.
I allowed the vendors to read the report & take notes in my presence, but did not let them have a copy.
I got what I wanted - the cost of a new roof & DPC deducted from the selling price.

You've paid for it anyway - either you share it and vendor agrees to the new price, or you dont share its reach an impasse and then you've lost the £1k you've spent on it

Makes no sense to not share it