Exchanging contracts this week but home-to-be has a leaking roof

[Serendials]

My estate agent has just called to let us know that the house we are due to exchange on this week has has a roof leak. The survey didn't pick up any problems with the roof but there have been other areas of concern and I don't trust the present owner to get things fixed properly in a way that would last years. We are pushed for time in sorting this out as the people who are buying are house need to be in by school application cut off date, next Thursday, which apparently means it's too late to get quotes and ask for a price reduction accordingly as all the figures will need changing. So, how do I oversee any repair works and be sure that a proper job is being done?

I don't think you can supervise can you?

I think you need to get price dropped. Surely pre-exchange is the time to do this?

Call the surveyor, if you'd exchanged and he'd missed the leak you'd have been able to blame him so he's had a lucky escape, he can give you advice on how much to reduce your offer by. Frankly you have them by the short and curls if they have to be in by next Thursday.

Sympathies btw, as if it's not a stressful enough time as it is!

Can your solicitor advise you?

Post exchange our flat started leaking into flat downstairs. We arranged a repair and paid it all and claimed on the insurance, keeping our buyers informed.

They did suggest that we didn't claim on our building insurance as it might put the premiums up for them later but we politely told them no!

Get a quote ASAP. There is still time to get a discount even without rewriting contracts - it shows the full price but you get a cash amount back. If the leak is bad though then it is worth them sorting now and reviewing later.

you need to know what is causing the leak - could be as simple as a few slipped tiles or some flashing needs re-doing. You might be able to organise a retainer on exchange/completion of up to say £10,000 which you could use to fix the problem and then give the vendor all or some of the money back depending on how big the job was?

I think you need to find out if you're talking a little amount that you can absorb for the sake of saving hassle, or a big amount.

Is there any interior damage?

I think you need to stand firm in this as you can't blame surveyor if you go ahead and exchange.

I say get quotes. Don't be bullied by your buyers. Its their own fault for leaving it so late to move. Strikes me your buyers can use your address on the school form anyway. I don't see what would stop them. I've just done a school form and there was nothing asking me to verify my address. As long as it's all agreed in the chain, ie that your vendors will be paying for damage and you will be moving anyway. I doubt the vendors want to let it all fall through for the sake if costs they'd have to pay anyway if you didn't move in.

Thanks. We have got a couple of quotes and my solicitor is going to arrange for a clause/ retention so the present owners are obligated to pay the bill.