Properties that need modernising...

[MrsWhirling]

What happens when the surveyor goes round? We have seen a property which needs a lot of TLC. New boiler, electrics, plaster work, wobbly exterior walls and windows to name a few. Estate agent is adamant this reflects the asking price, but not sure I am convinced. Does the survey give you any more room to barter? Thanks xx

We are in the process of buying a total doer-upper. When we looked around it was obvious it would need a lot of work, but the price reflected that. Nothing extra came up on the survey but I guess if it had thrown up something unforeseen eg structural problems, then we might have seen if we could have got a reduction. I guess you have to have a budget/estimated cost for renovation and an idea of how much it would be worth once done to know if the asking price is fair. Are there any other properties in the area you can compare it with? We did get a full structural survey and the surveyor was good enough to walk round the property with me and explain any issues and give me an idea of costs.

the agents job is to maximise commission and minimise work sell for the best price.

If you say to an agent "do you think the price should be dropped by £x thousands" did you think she would say yes?

Thanks Pigletjohn , I know it's not in the agents interest to agree with me. annoyingly nothing similar has sold on that road for a few years so struggling to know what the average price is.

Thank you, good advice.

We've just moved into our Edwardian doer upper after about 7weeks of complete renovation. We had a structural survey and then got a builder to quote (he actually saw and knew more than the surveyor...) to renegotiate. But we were already £60k above the asking price. Every property has a price you are willing to pay, be that a financial or emotional decision.

Some owners will not accept that their property requires a total refurb and only think it needs a coat of paint and a new boiler.

Not all 'doer upper' houses are priced correctly. Many are vastly overpriced.

Recent example I went to see worth about £275k on market for £360k. Has been on at that price and higher with three different agents for three years now. It won't sell.

Be realistic.