Survey - leaky roof and windows

[youhadmeatgoodbye]

I am selling a small Victorian house in a nice part of SW London. The buyer has just had a survey done, which has come back with penetrating damp, with leaks coming from the roof and windows.

I was not aware of either issues as I rent the place out.

Buyer is now threatening to pull out unless we give them a price reduction.

What is reasonable in these circumstances?

Have you seen the survey yourself? I would want to see the evidence rather than take buyers word for it.

Have they given any indication of what price reduction they are seeking?

They need to show the agents what is in the survey exactly, they don't have to hand over the whole thing, but highlight the relevant sections.

And yes, what exactly are they proposing in terms of reduction?

But also, how was the price of the property, did it reflect higher end similar properties or a house that needed bits and pieces doing?

Is there a surveyors valuation on the survey?

Arm yourself with the facts first, then decide on your personal circumstances too - some people will hold their ground a lot more firmly, others will accept some reduction if they need to get things moved on.

Yes, buyers have provided the extracts from the survey.

They are seeking 15k reduction as contribution to new roof, fixing windows and then subsequent replaster and painting. Should note that the damp is very visible now, with patches and peeling plaster.

The agreed price reflects the higher end of equivalent properties.

How much would it cost you to fix it, OP? Need to get a sense of how far the 15k would go towards the costs of repair?

If I were to fix it, i'd need to do the following

• fix it
• wait for walls to dry
• repaint/redecorate

The waiting for the walls to dry could take months. So I realistically either have to sale as is and disclose issues, or wait 3-4 months before relisting again.

I could do a temporary fix for 9k I believe (repairing roof, rather than replacing, repairing windows, redecorating).

Issue will be then if the next buyers surveyor picks up the old roof/or if the repair jobs only provide a temp fix and I don't manage to sell within that period.

It's really unfortunate that it rained so much recently, as the issues are now very obvious.

Have they had a quote for the work? £15k seems OK, but I wouldn't expect for you to reduce by the total amount.
Whenever I've renegotiated after survey it's been for half the cost of works needed.

I'd try to reach a compromise with the buyer. Victorian houses are often going to come with issues of this nature and the purchaser should expect as much. Having said that if issues are obvious then I can see why they don't want to foot the whole bill.

@Livingintheclouds

Have they had a quote for the work? £15k seems OK, but I wouldn't expect for you to reduce by the total amount. Whenever I've renegotiated after survey it's been for half the cost of works needed.

Half the cost of all works, or just the issues that are urgent.

They have listed out an array of issues, but have said they only want to reduce the price in light of the issues requiring immediate fix, and have asked for full cost I believe.

I have had a look online, and I think to replace a roof is 10k, fixing windows 2k, decorating plastering painting etc will come in at about 2k. So 15k seems reasonable.

Should I perhaps offer half?

@zebrapig

I'd try to reach a compromise with the buyer. Victorian houses are often going to come with issues of this nature and the purchaser should expect as much. Having said that if issues are obvious then I can see why they don't want to foot the whole bill.

Yes, sadly the walls are peeling and the ceilings have big damp patches. So it is rather obvious and needs urgent attention that goes beyond the usual maintenance.

If they insist on wanting the full cost deducted, would you be inclined to proceed?

You have said you have seen the survey and seen physical evidence the issue is real. The amount they are asking is reasonable.

If they want the £15k I would proceed. In London what % is that of the asking price?

It will come up on the next survey anyway, is it worth losing the sale?

I would say, take it and run!

@picturesandpickles

You have said you have seen the survey and seen physical evidence the issue is real. The amount they are asking is reasonable.

If they want the £15k I would proceed. In London what % is that of the asking price?

It will come up on the next survey anyway, is it worth losing the sale?

Yes, it is undisputable. They sent the survey extracts, photos and I saw it myself.

It is approx 2% of the agreed sale price, so not especially large.

Yes, it will definitely come up which is why I am inclined to agree to it.