WWYD? Buyers about to ask for a price reduction

[MillennialFalconer]

I'm in the process of selling my small Victorian house (first time seller).

My buyers are FTB, and they've let our EA know that they plan to ask for a price reduction but that it won't be "detrimental" (whatever that means) but they "have a few more quotes to get in". I am really worried. I don't have much wiggle room; if they ask for thousands off, we simply will not be able to fund our onward purchase.

The buyers cited 2 issues - some damp, and the ceiling in the reception. The damp, a meter reading showed some higher levels near the chimney breast (though not at urgent levels) and the roof was the suspected cause. The ceiling is not a structural issue (the plaster needs attention - it's plainly visible and was accounted for in the original asking price).

I got my own roofer in to look at the roof, which is the suspected cause of the higher damp readings. Some minor repointing is needed, some slipped roof slates and a some flashing to be fixed down. I was quoted under £650 to get the work done. The buyers have sent another roofer around to look. I managed to speak with the roofer after he'd been, and he told me he'd quoted £3800 for the work but "he'd do me a deal". Nearly 5 times what I've been quoted by my own guy!

The work to the roof, I'd be willing to meet halfway on a reasonable quote - not the eyewatering one that I'm expecting my buyers to come in with. But really, I'm inclined to just get my guy in to do the work before exchange. For the plastering, I am not willing to entertain a price reduction at all; this was reflected in the asking price.

What would you do? Should I wait until they ask for a price reduction before getting the roof work done, or should I just crack on with it and if they ask for money off based on the roof, tell them that it's already been sorted (and provide photos of all work)? My concern is that the weather is going to turn soon, but on the other hand, I don't want the buyers to insist that they approve the company used, or worse, I pay to get the work done, and have them still insist I knock money off. Also, they are on the 4th viewing (in addition to the two they had before offering!). I just suspect they're totting up items to ask for reductions.

Thanks if you made it this far.

Now you have an idea of the cost decide if you're willing to reduce and by how much and then stick with it.

I wouldn't let them view anymore either. They either proceed of withdraw.

You have a reasonable quote for the work and they have a ridiculous quote Wait to see what they say. If as predicted they ask for money off you can offer to have the work done, and not drop the price. Don't meet them half way when you know it can be done for less. If they refuse that very reasonable suggestion then remarket it and consider getting the work done to avoid the issue with future buyers.
If the entrance area is just plaster work then you could get that done too, it won't be that expensive

Just popping back to update. My buyers did ask for a price reduction, to the tune of £5k! They showed me the itemized quote from their builder and it looks like he saw FTBs and the ££££ popped up.

I went back via the agent and named my quote of £650. It turns out that my buyers are reasonable people, and we agreed that I’d just get the work done before exchange (after all, it wasn’t visible in viewings, and if I wasn’t selling, I’d need to get it done anyway, so fair’s fair). I wound up needing to get another roofer in at a slightly more expensive price, but the work is all done now, and everyone’s happy.

Thanks @meateatingveggie and @smileandsing for responding and calming me down :)

They are first time buyers who have seen some issues and panicked and are trying it on.

As a first time seller, don't panic because they are offering less.

I am willing to bet if they have done that many viewings and invested that much time already, they really want the property.

Hold your nerve and call their bluff. Say no and see what they say.