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Original poster

Advice needed for renegotiating house price

10 replies

adamski606 · 11/08/2024 18:27

Appreciate any advice on this as I have no idea how to proceed!

Currently in the process of buying a house which my wife and I are really really keen on. We made a (keen) offer at asking price for £585k. Level 3 RICS survey and drains survey later has identified a few big ticket items needed - £17k of damp proofing, £19.5k of re-rendering (including scaffolding) and £4k for an MVHR system, all to address damp in house and loft, so £40k+ work. Drains survey has identified some issues but not red flags so am not planning to renegotiate on this. There are some other costed measures in the housebuyers survey but they are not major things so again not planning to take off.

We still want to buy the house. The surveyor told us that the occupants were amazingly in the property during the survey and seemed to recognise and be sympathetic to the issues and therefore likely to negotiate.

Should we go in hard and take £40k off the asking price? What is fair? Really appreciate any tips!

OP posts:
Autumn1990 · 11/08/2024 18:31

They probably won’t accept the amount you want taken off so you’ll have to negotiate a bit. You can ask for £40k and most likely get £30-35 off

Tupster · 11/08/2024 20:13

Never trust a price a surveyor gives you - they are just making prices up that bear no relationship to what the actual trades involved will charge. If you are going to start asking for that scale of reduction, at least have the decency to base it on proper quotes to do the work - it may be more, it may be less, but it's better for all parties concerned to base the negotiation on facts.

Original poster
adamski606 · 11/08/2024 20:15

Tupster · 11/08/2024 20:13

Never trust a price a surveyor gives you - they are just making prices up that bear no relationship to what the actual trades involved will charge. If you are going to start asking for that scale of reduction, at least have the decency to base it on proper quotes to do the work - it may be more, it may be less, but it's better for all parties concerned to base the negotiation on facts.

That is a fair point - thanks for responding In practice it will be quite difficult to get accurate quotes for these measures while we have to arrange viewings via the estate agent. I have been trying online but most contractors understandably want to see the property before they commit to a price!

OP posts:
Geneticsbunny · 12/08/2024 09:09

If they have recommended injection damp proofing, be wary as it is expensive and doesn't work.
If you are buying an older house, the current thinking is to let the house breathe, so to use lime plaster and lime render and to make sure that under floor spaces are ventilated. Then if that isn't enough, french drains around the exterior.

sweetpickle2 · 12/08/2024 09:26

Agree that you should get specific quotes- we had to do this for the property we bought this year. The surveyor is not a damp proof or rendering expert, so you need to get someone who is to go to the property and give you an accurate quote. £40k is a big chunk of money- would you give this amount off a property without evidence that it's needed?

We got trades to go visit the property and do a quote. Some of them charged a small fee (between £100-200) to go quote, which they then offered to take off the final invoice if we ended up buying the house and getting the work done with them.

Gamergirl86 · 12/08/2024 11:37

Definitely get a quote or two from industry specialists, ie the trades you'd need to complete the work. Surveys are often scaremongers and you might find it's not as bad as they predict.

Also take note on pp suggestion if it's an older house- techniques and thinking change and especially of it's a listed building you might need to involve CO.

Gamergirl86 · 12/08/2024 11:39

Sorry hit send too early-
On top of that, most old buildings need something doing, over the years,ni expect in ten years if the roof doesn't need doing now it will soon.
I would meet in the middle of any quote you get if you really want the house.

Good luck!

SquishyGloopyBum · 12/08/2024 13:40

Is it an old building? Have they diagnosed the cause of the damp (not just trying to flog you damp proofing systems which cause more harm than good).

I'm selling an older properly but if anyone wanted to knock down that much in price for damp, I'd be saying now.

Original poster
adamski606 · 04/10/2024 20:26

Thanks for all the advice, thought I should come back and post the outcome.

We took about £20-25k off the £585k asking price. This felt reasonable given the extent of the issues and that we qre in a buyers market.

Vendors decided to cancel the move. I do think the revised offer was a factor, but they claimed they changed their mind about moving and it wasn't to do with the offer.

Very annoying, big waste of our time and money on surveys etc. on to the next one!

OP posts:
LindaDawn · 04/10/2024 21:26

adamski606 · 04/10/2024 20:26

Thanks for all the advice, thought I should come back and post the outcome.

We took about £20-25k off the £585k asking price. This felt reasonable given the extent of the issues and that we qre in a buyers market.

Vendors decided to cancel the move. I do think the revised offer was a factor, but they claimed they changed their mind about moving and it wasn't to do with the offer.

Very annoying, big waste of our time and money on surveys etc. on to the next one!

Thanks for updating. Sometimes these things are meant to happen but it is frustrating. Hoping you find your dream house very soon.

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