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?

To the PP who said sell it to them. Why would a vendor want to pay half for a survey on his own house ? Especially if the buyer is wanting to negotiate downwards. Bonkers

@SocialifeofHotWaterBottle selling it to another potential buyer once you’ve decided not to proceed is normal practice, but the OP’s scenario is totally different. It’s in her interests to share it with the seller if she wants a price reduction based on its contents. Why on earth would the seller pay her for it?

We got 1500 off our house when we pointed out the dodgy flashing and pointing. We shared the survey in full. It cost 500, remedial work cost 400, so we got a little bonus.

We shared the sections identify the problems and the quotes for fixing it. We asked for either the repairs to be carried or the cost to be deducted.
The buyers agreed.

He's already agreed to drop the price, and then changed his mind.

he's going to mess you about ... and I'd be surprised if it wasn't a buyer's market soon enough

I don't get why you wouldn't share it?

You dont have to share it but it might help.

We had a buyer when we last moved who suddenly tried to knock £35k off the price. She said that's what the surveyor said. We refused and eventually she said she would give the estate agent PARTS of the surveyor report to share with us. That was enough to start alarm bells ringing. She did indeed send parts including rather stupidly the valuation which I think she included by mistake.. it said the value was correct!! It became quite acrimonious but she ended up paying the asking price.

People like her, are the reason that people like you find themselves in this situation. If I was selling again theres no way I would trust anyone who used the survey as a reason to drop asking price.then refused to show me the survey.

Sorry OP before that experience I'd have said it's yours and you dint need to show the seller.

Sorry maent to add I agree with PPs charge them at least 50% of the survey cost

He just wants a copy of your survey so he doesn't have to pay for one.
He'll use the info in that to 're-negotiate' a price...make sure you tell him to include the survey fee you've paid.....still stick with your original offer.

Or buy something else....he sounds like a dick who'll mess you about at every turn

Another one who doesn't understand why you won't share unless there are 4hings in the report you don't want them to see because it goes in their favour.

Ultimately, you refusing to share becomes suspicious. He is entitled to refuse the valuation. It's well known that two valuations can come at a significant difference. Maybe yours is wrong.

Well, if he won't negotiate then there's no point. I would move on and find another house;

Do you desperately want this house, beyond any other?

Based on the info in your update, he's being an arse and you're probably better off away from that house.

A bit more info on the situation... The price I offered was only 4,000 below original asking price and the figure the mortgage lender would lend on based on the valuation on the survey. This was agreed but then during this lockdown seller went very quiet and I had to chase him for update which has been he refuses to stick to agreed price and won't discuss any reduction from original asking price without survey. I guess I was just a tad suspicious as to why the sudden change on agreement. Tbh it's buying my first house so not had lots of experience with buying property...

@Alsohuman
It is only a bargaining tool if the vendor is prepared to negotiate on price. This one isn’t. However it does sound more like a home buyers surgery rather than a full structural. I don’t see an issue with sharing that as it’s for the mortgage lender. I was talking about full structural survey and to sell it if you’ve walked away from the purchase. It’s dead money at that point. So time to offload.

kentgal
Have you spoken to your solicitor about this for advice? Do remember the agent is working for the vendor. If it is a homebuyers survey, it is basically for mortgage purposes. Your solicitor should be dealing with this issue and deciding which parts to share with them. If he has decided he wants 4K over and isn’t willing to negotiate, you will either need to walk away or pay the amount.

The valuation is usually separate from the survey - usually just a single page, single paragraph stating that in the opinion of the surveyor the property is worth X.

You don't have to share the survey but you could share the valuable page / paragraph.

If I’d paid for a survey I wouldn’t share it for free so the vendor can make use of it and possibly even share it with other potential buyers. If they want it they have to pay for it. I would share screenshots of selected paragraphs only, not the full report.

Don't buy your first house now the situation is too dodgy - if this was your retirement home so you will be there decades and can ride out any changes due to Covid ok, but don't buy right now would be my advice. It's such an unknown quantity. Too risky.

@kentgal, we shared ours. It was quite damming and we got no further resistance on negotiating the price. Plus, when we moved in we found that they had fixed several of the more minor issues.

I also don’t understand why you won’t share it? It makes no sense. It’s in your interests to do so.

Can you explain why you’re acting like this?

He has changed his mind about selling and doesn't want to be made out to be the bad one.
I would honestly consider pulling out unless you are desperate.