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Original poster

Renegotiate after offer accepted because of neighbour?

127 replies

TheLondoner00 · 01/05/2023 15:34

Had an offer accepted recently. As part of the searches and due diligence, my solicitor flagged that the next door house just received planning permission to create a set of flats and do a full roof and back extension that extends past the property we are trying to buy. This will partially block the sunlight and reduce privacy because the neighbour’s top floor balcony will overlook into the property. There is no way the sellers can deny this because this is exactly what they submitted to the council as an official ‘objection’ during the consultation phase (no idea how this still got approved by the council, but here we are).

As this will significantly impact the property and my ability to sell it on in the future, can I renegotiate my offer? If so, what is a reasonable amount to put forward?

For context: the offer that was accepted was almost 10% below asking, but the property had been on for awhile (likely because it was overpriced), there were no other offers, and I think the sellers are desperate to move on

OP posts:
Happycow · 05/05/2023 15:12

Obviosuly its clear most people would pull out together - if youre adamant the disruption and impact on your resale are worth it, id go in at 30% off. That would probably cover most things a survey will throw up as well, but if not, you can use the survey at a later date to ask for more if you need to (eg. New roof / rewire).

I wouldnt wait - youll just get more emotionally invested and accept a bonkers 3% reduction!

almostwarm · 05/05/2023 15:54

These people are liars and have hoped to deceive you.
I would be very clear before you spend any money on a survey that you are aware of the large and intrusive development that is planned and expect a substantial discount given this.
Anything less and you will be absorbing all of the loss of value on the property rather than the vendors on top of having to live with the building work while it happens.

ninemonthstime · 05/05/2023 16:37

I don't wish to be rude, but it sounds like you are being incredibly naive (or stubborn) and making a really bad decision.

There is the very real potential you could be paying tens of thousands of pounds more than you should and end up with a property that's worth far less than what you paid for it.

You may even find you won't get a mortgage on it with all this going on as it will be down valued.

You could also end up with a dreadful noisy block of flats next to you.

Surely there must be other suitable properties for you. Don't buy something when you don't know what it is going to be like there. No wonder the purchasers are selling!

Please listen to the advice on here!

Ilikewinter · 05/05/2023 16:43

I would ask for the reduction now so that its clear that its due to the flats, then if the sellers say no you havent paid out for the survey. If the survey flags up issues then you can deal with that at the time.

However, if it were me buying the property I'd have pulled out !

earsup · 05/05/2023 16:49

Tricky if you like the house etc but we had flats built opposite, only 4 but took years and had skips and dust for years , our car was covered daily and nobody offered to pay for the cleaning etc, plus the noise and drilling....

stars345 · 05/05/2023 17:05

Another one here saying you are making a massive financial mistake that may ruin you.... sorry.

YOU are going to absorb the loss of value on this house, not the current vendors. It doesn't matter if it's next to a block of quiet retirement flats, an overlooking balcony of all things is a total loss of privacy that can have nothing done about it. Personally I wouldn't even look at a house with a block of flats next door, not when spending detached type money!

The parking, the extra people, and the fact that it will be extremely hard to resell should make you walk away. You may find the developers buying the other houses, even the one next door on the other side Blush

Roselilly36 · 05/05/2023 17:33

I would pull out completely, no discount would make me want to live there in those circumstances tbh

DisforDarkChocolate · 05/05/2023 17:40

The built some flats about half a mile from me a couple of years ago, the noise was horrendous even at that distance.

DemonicCaveMaggot · 05/05/2023 17:46

Is this your 'forever home' because when you want to sell you may find nobody wants the house at any price.

Is it only one balcony looking over your garden? TBH in our new build our garden is overlooked by two neighbours and most of the houses are overlooked so it isn't necessarily a huge turn off, but if you have multiple windows from an entire block looking over your garden then I wouldn't touch it with a barge pole.

raincamepouringdown · 05/05/2023 18:31

stars345 · 05/05/2023 17:05

Another one here saying you are making a massive financial mistake that may ruin you.... sorry.

YOU are going to absorb the loss of value on this house, not the current vendors. It doesn't matter if it's next to a block of quiet retirement flats, an overlooking balcony of all things is a total loss of privacy that can have nothing done about it. Personally I wouldn't even look at a house with a block of flats next door, not when spending detached type money!

The parking, the extra people, and the fact that it will be extremely hard to resell should make you walk away. You may find the developers buying the other houses, even the one next door on the other side Blush

Agree 100%. OP, you need to really think this through from a financial/business perspective, not a 'but I love the house' perspective. YOU will be the one taking the financial hit, not the current sellers. So ensure you are getting a significant discount if you decide to go through with the purchase.

ImSidneyFuckingPrescott · 05/05/2023 18:54

All I can say is that a few years I came across a house that was perfect for us. Detached, good sized garden, great location etc. Upon looking at the area shot I realised there was a four storey small block of flats next door, overlooking the garden.

I didn't even view the house, it was just a flat no. I would imagine a massive percentage of your future buyers would be the same, it's not just that you may struggle to sell it for a certain price, it's that your buyer pool will be much smaller.

Looks at all the responses on the thread, even if you aren't that bothered most people would be.

If you are going ahead I'd ask for a massive reduction before survey. You don't want to pay £2k out only for the seller to refuse to budge at all. If the survey throws anything up, you just deal separately.

Speedweed · 05/05/2023 19:03

No wonder the sellers are desperate to go - I bet they have had buyers pulling out just at the point you are (yes, I know EAs are supposed to tell you if a previous buyer pulls out, but it's amazing how they claim anything else but what is obviously the real reason).

I wouldn't buy it - this is the biggest financial investment of your life, why buy something you probably can't sell? Also, if the flats are built that sets a precedent, so if even the developers aren't trying to buy up the house you like, that tells you that it's massively overpriced for what it's now worth.

Wonnle · 05/05/2023 19:47

Even with a decent drop in the price you could well end up with the house being worth much less than you paid for it once the planned flats have been built .

Walk away and find somewhere else

Mark19735 · 05/05/2023 21:49
  1. Explain the survey thing. Are you hoping to find something bad? Or expecting to? Why would you imagine that there'll be a renegotiation after you receive the survey? Chances are it'll be a bland report that says nothing ... unless you know something already (in which case, why offer more in the first place?)
  2. All these people worrying about the selling price ... why buy a place at all if you've got one eye on it's future sale price? Find a place you could live in for 50 years ... if this is it, then who cares what the re-sale value is? And for 48 of those years, will you really care that there were some skips outside for the first two? By 2083, everywhere will look like Blade Runner anyway, so you'll kick yourself if you didn't buy it just because the first (of many) future developments was ongoing at the time and you then had to settle for somewhere else that you didn't love as much. If it's not a potential 50 year plus house ... don't buy it.
JagerbombsUnite · 05/05/2023 22:34

Mark19735 · 05/05/2023 21:49

  1. Explain the survey thing. Are you hoping to find something bad? Or expecting to? Why would you imagine that there'll be a renegotiation after you receive the survey? Chances are it'll be a bland report that says nothing ... unless you know something already (in which case, why offer more in the first place?)
  2. All these people worrying about the selling price ... why buy a place at all if you've got one eye on it's future sale price? Find a place you could live in for 50 years ... if this is it, then who cares what the re-sale value is? And for 48 of those years, will you really care that there were some skips outside for the first two? By 2083, everywhere will look like Blade Runner anyway, so you'll kick yourself if you didn't buy it just because the first (of many) future developments was ongoing at the time and you then had to settle for somewhere else that you didn't love as much. If it's not a potential 50 year plus house ... don't buy it.

A house is the biggest financial investment most people will ever make. Fair enough to see it as a home first, but an unsellable house will be a millstone as it means never moving. 50 years is ridiculous, most people will be at least 30 by the time they buy a house of that size and at some point within the next 2 decades probably want to downsize to free up some cash.

Personally OP I don't think the flats are the issue. It's your type of house. Those who buy detached are willing to pay a premium for privacy and enjoyment of the grounds. A block of flats so close that it blocks the light will reduce the price massively.

Of course it depends on the premium on detached in your area. It might not be so bad if the difference between say, a large semi and this is about 20% on top. Anymore than that however and you'll make a big loss.

ilovewispas · 05/05/2023 22:42

If you can cope with living with being more overlooks and possibly several years of loud building work right next to you, definitely renegotiate to try to get another 10-15% off.

Personally, unless this was my dream house, I'd pull out. I've lived next to building work, it is horrendous.

C4tastrophe · 06/05/2023 05:32

Don’t do it, and don’t get a survey.

FurierTransform · 06/05/2023 06:56

Personally id pull out

NameforMN · 06/05/2023 07:07

Our neighbours house is converted into 2 flats and that's bad enough. I wouldn't live next to a block.

The issue is living next to a building with so many occupiers. Noise, more cars, more people using the garden split into two spaces to accommodate both flats etc. In our case the flats are rented so the turnover of residents is quite high, the renter's are less invested so not bothered if they cause a nuisance with parties etc. Overall, it's a pain.

Totalwasteofpaper · 06/05/2023 07:16

3-5% .... i would want an extra 10-20%

It will seriously devalue the property and the building work will be horrendous

halfthesun · 06/05/2023 07:20

Next door but one built a house at the bottom of their garden. My lovely neighbours now have no privacy or light in their garden. I would pull out / no amount of money could make up for the stress of the works and the angst of the unknown.

Snugglemonkey · 06/05/2023 07:24

I would also pull out.

Dontjudgeme101 · 06/05/2023 07:47

Please listen op really think about this huge decision. You have been warned about the pitfalls if you go ahead.

Tiddlypomtiddlypom · 06/05/2023 07:59

Don’t buy it. Pull out. The deception, the disruption and the ongoing life next to a block of flats will really affect your quiet enjoyment of that home. For me, it would be soured and I’d be gone.

Chocbuttonsandredwine · 06/05/2023 08:02

Pull out.

the noise and disruption will be terrible, and there’s a good chance you could end up with some of the flats being used as Airbnb’s which will be all sorts of a shit show