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Original poster

Buyers trying to lower price after survey

70 replies

HepLaurenceLB · 20/01/2021 13:36

We accepted an offer at 15k below asking. We had 20 viewings before the offer.
We are in no rush to move and were going to move into a relatives spare house until we found a house we liked.
The buyer has now come back asking for 15k following the survey. The only specifics they have given us is that two windows need updating.

We are thinking about telling her to take it or leave it. She would lose out on the stamp duty holiday which will cost her 15k on a new purchase. Not moving to a temporary home during a lockdown is a nice thought. Although what if we never get another offer?
Wwyd?

OP posts:

Original poster

HepLaurenceLB · 20/01/2021 13:37

*Asked for a further 15k reduction

OP posts:

SkedaddIe · 20/01/2021 13:38

If you can afford to wait then you should

Finfintytint · 20/01/2021 13:40

I’d tell them to do one and that the price already reflects any work that may doing.

Onedropbeat · 20/01/2021 13:41

For windows needing updating that’s a bit excessive especially as it sounds like it’s not urgent and the state of the windows would have been visible to them when they saw the house initially

I wouldn’t drop it but I’m a stubborn kind of person

redcandlelight · 20/01/2021 13:41

depends if the issue was visible upon first viewing.
issues with windows are often easily identifiable just from looking at them.

Itscoldouthere · 20/01/2021 13:41

If they can’t supply a good reason I’d say no, they won’t want to loose the stamp duty reduction.
People often/always try to get a reduction after a survey but it’s not always warranted. You have to decide if they will pull out and what that means to you if they do.

Elouera · 20/01/2021 13:44

Do you (your solicitor) get a copy of the survey report or are they just telling you about the supposed window issue?

Original poster

HepLaurenceLB · 20/01/2021 13:45

Has anyone been through similar?

OP posts:

SausagePourHomme · 20/01/2021 13:48

I wouldn't budge personally, if you have no rush to move.

Original poster

HepLaurenceLB · 20/01/2021 13:51

@Elouera Ea phoned this morning. Buyer has sent long email about survey to the Ea. EA said the only thing she could see was two windows could do with attention. She said she will read it through and get back to me.

OP posts:

Buttercupcup · 20/01/2021 13:52

I had a 5k reduction on my last purchase accepted, this was because on the survey issues with damp were found in the living room and the owner told us they had had a damp proof course put in when in fact they hadn’t. After some negotiation they accepted 5k less to cover the cost of the damp proof course and associated works. There was quite a bit of backwards and forwards, discussing surveys and getting quotes-neither of us were in a hurry so they could be facilitated. 15k for windows seems too much and I would be reluctant To accept without more info/quotes etc.

Flittingaboutagain · 20/01/2021 13:54

Have you seen the email? EA can lie.

You dropped the price as a reflection of work needing doing already? If so I wouldn't budge in your shoes. If your house was over priced and there are other things mentioned now that they couldn't have known, I'd be inclined to negotiate as they'll be motivated to get in before end of year.

bluubear · 20/01/2021 13:57

I wouldn't budge as the £15k reduction they've already been given will more than cover 2 windows.
I'd also ask the EA to forward you the email so you can read it yourself.

YouBeYou · 20/01/2021 13:58

I would want to see the email and the survey itself before you decide anything. Ask EA for these and then consider position.

superram · 20/01/2021 13:59

They are changing their arm, you don’t need to move, there is no way I’d agree.

daisypond · 20/01/2021 14:00

Don’t budge. Your house is priced accordingly. If the house is correctly priced, I would not adjust. It’s cheeky of the buyers. No house is perfect.

Original poster

HepLaurenceLB · 20/01/2021 14:01

I will ask the EA for the email. I am a little concerned that if the sale does go ahead, the buyer will keep pushing for reductions.

OP posts:

BadEyeBri · 20/01/2021 14:06

We had this. Twice. The first time I ended up pulling the plug on the sale as the buyer was just going to be awkward through the whole process. The second time we were really strict with the next buyer- the price was the price whatever the survey said. The second buyer also tried to bargain. I told the EA that I'd pull out again and suddenly all the issues went away and the sale proceeded.
On the other hand, the first house we offered on developed a huge leak in the master bedroom chimney breast between us offering and the survey. Like water running down the wall. We asked for it to be repaired or the equivalent money off asking price. The vendor refused. I pulled out of the purchase. The vendor's estate agent called me (drunk I think) at 10pm to harangue me about the purchase. I still didn't buy that house. Funny that.

Chicchicchicchiclana · 20/01/2021 14:07

15k is way too much without a more detailed explanation and itemisation.

puguin86 · 20/01/2021 14:12

We had this

We just said we would put the house straight back on the market. It helped we were not part of a chain

Seller proceeded

GracieLouFreebushh · 20/01/2021 14:19

Yeah we had similar, stuck by our guns and it went ahead.

MaggieFS · 20/01/2021 14:22

The original asking price isn't relevant because you accepted £15k under, so that's now the benchmark.

£15k under the agreed price with no detail provided is ridiculous. It does suggest she is trying things on. Given your circumstances, I'd see what's in the email or ask for detail and then decide how to proceed. If it adds up then you can decide if you're willing to accept it or not - her budgeting probably won't include an unforeseen £15k so it could be a genuine. If it doesn't add up, I would put the house back on the market.

Frazzle76 · 20/01/2021 14:23

There's lots of info missing here.
Was your house already overpriced compared to others comparable (ie the 15k off you'd already alluded to) lots of houses have hoiked up the stamp duty saving onto the price.
Is there any other work that needs doing ?
Was there a reason for the 15k off? (Ie we are offering 15k off because we can see that such and such needs doing)
And finally do they have some quotes to back up the additional 15k off for windows?

Its not unreasonable to ask for money off - try not to take it personally. But it is unreasonable to offer no explanation or back up. Its a negotiation- go back and say 2 windows at local prices is circa 2.5k so well give you that etc.
Think of it like haggling at a souk and don't cut your nose off to spite your face.

muckypaws · 20/01/2021 14:26

We had something similar a while ago and we were so keen to move that we offered to split the difference on what they were asking. It wasn't as big an amount though, more like 8k reduction that we split. We couldn't face putting it on the market again. I'd negotiate with them if at all possible to get things moving.

londongirl12 · 20/01/2021 14:30

They're just trying to be cheeky. Seems like a lot of that at the moment!! Tell them that's the price that was agreed on and they can pull out. If you're in no rush, then you've nothing to lose. You will get another offer

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