Buyer Asking for Price Drop

[MsJinks]

Hi - selling an estate property - as a project house essentially and price reflected that. Received 3 good offers, but on advice of estate agent took the second one as they were so keen partly, and other various thoughts. At this point estate agent advised that it would reduce the chance of them asking for reduced price post survey.
However they have had the survey and are 'shocked' the roof needs doing - I'm not sure why as there's a clear hole where ridge tiles have come away. So they want to reduce by quite a few thousand to 'share' the load. I'm a bit reluctant to bargain as I took a lower offer and they've also irritated me by sending dodgy builders (imo) to clamber around part of the roof without booking this in - I let them look but after wasn't even sure they were legit so a bit concerning. They've also instructed my solicitor to tell me which removal company to use for an item I am having taken out. So maybe personality is influencing my view on price drop.
The mail the EA sent seems to indicate he thinks it's fair so I think he'll push for some agreement to take several k off the price.
I'm not really au fait with buying/selling but I gather this is fairly common, but if the property was priced to reflect work needing doing is it reasonable to ask for more off when you actually find you will have to do things?

They sound like they are going to be a complete nightmare. It would be a no from me to any of these ridiculous demands.

Well depends.

When you placed it on the web to sell it, did you state that it needed roof repair work ?

If the buyer was aware of all the issues such as the roof repairs requirement from when they made their offer then no they should not be negotiating on the price imo.

If the issues were not obvious on viewing then I would. And probably say that's it, no more, I already priced accordingly.

If they were obvious on viewing, I might push back.

All of this assumes you accept that the chain may now fall through.

Don't blame the EA for the advice on buyers. You don't know that they wouldn't have all said the same.

The EA would indicate they are reasonable demands. They will say anything to keep the deal on track so they earn their comission.

Obviously if the house is already priced to reflect the work, then they are not reasonable demands.

Say no. Entertaining any negotiation just opens the door to more. They will ask for more and more. Best of luck.

Point out that there were two other offers on the table when you accepted theirs. There were visible issues with the roof, from what you've said, so they purchase or it goes back on sale and you approach the other offers.

Thank you for replies.
I feel they're acting quite entitled in a way, which is irritating me now as they've not yet paid for it - but I'm trying to also understand and remove my personal opinion from it - although it does matter to me who the buyers are tbh due to it being family and not me - but that's also unfair too, hence trying to get more impartial opinions.
It didn't say needs roof repairs tbf, but they were very obvious on viewing IMO and he had 2 viewings- the ridge tile is easily seen, the gutters too. If they'd found something like damp or issues with walls (barring pointing needed) then I'd be fine that it wasn't visible and 'shocked' too! It's very definitely a do up home and sold as such though.
There's a sort of chain in that I am buying somewhere I really wanted, but I do still have my own house to live in, as I'm not selling that until completing this. The buyer is first time and the one I hope to buy was a rental and sellers are in their own home. So long answer short if I don't agree then nothing is terrible (except my bank a/c paying bills on 2 less economical homes than the one I want 🙈).
I don't know if I should get my own quotes? Buyer just sent one and says it's the cheapest - I only saw one set of 'builders' but they could have come whilst I wasn't around. I do feel it's rather a try on than a 'shock' from him but guess he maybe was naive as to costs of house repairs. I'd have more inclination if he had been upfront and said look loads of more immediate stuff than expected, so can we discuss rather than reams of 'shock' and wanting to 'share the burden' - again that's personal though.
And of course will this happen again with future buyers is the next thought? Does it usually?

If it visibly needed doing they should have expected to replace and you accepted the offer accordingly.

There's fairly obvious updating work needs doing which is obvious on viewing, and then there's maybe not obvious roof work needs doing, and then there's the whole roof needs replacing. Which is it OP?

Saying a property obviously needs some work doing to it doesn't cover all serious structural issues.

I'd tell them no and put it back on the market with appropriate comments such as price reflects the fact the roof needs fixing ... and whatever else.
I would get the hump with these people and wouldn't want to do business with them as it would probably annoy me after the event, get shot asap IMO

Doesn't sound like the kind of buyer is like to deal with, even if a reasonable request.

If you are confidant that one of the other two offers would come good, then I would say you believe the price to be fair, and you aren't changing it.

You can always go back to the EA and ask them to get back in touch with the other offerers if they withdraw.

Don't believe what the EA says even when they work for you, they just want their commission asap.

If it needs a lot of work you might be better going to auction. If you got several offers you should get good offers at auction and no comeback afterwards. If you go with another buyer they may do the same, I do think some buyers deliberately make a good offer with no intention of sticking to it, once they.ve got their foot in the door.

What's with them demanding you use a particular remover for your own stuff? That sounds outrageous.

@LindorDoubleChoc - thank you as you forced me outside to view, check the mail, and I've realised the quote I thought was cheap for the house roof is actually for the outside shed roof (seems extortionate now!) - there is also a flat roof for which I had an informal quote last year at half the cost of the buyer supplied one - (this solves my confusion as to why full house one seemed cheap and flat one so dear!) - at the time I had it re sealed as a temp measure. It is where everyone else on the road has had a bedroom extension so not worth doing as it was going to be sold.
I now think the quotes are eye watering ! The flat roof was obvious to me as there's water patches from last year and you can see the temp repairs when on the garden (it rises) On the other hand I never thought of outside shed and that isn't obvious on viewing itself from outside though it is extremely obvious the outbuilding needs a full do over and as the dried tarpaulin/some damage) is visible inside then yes it should have been known. The actual roof itself is quoted for replacing ridge tiles - which is very obvious on viewing.
So I'd have expected a lot of this work - however the outside shed is imo not urgently needed as in would affect living - is that fair? Ridge tiles totally obvious. Flat roof might be more reasonable- or not?
Thanks for all replies helping me clarify what I can discuss.

Thank you for idea. Ref them ordering who to use for removal really annoyed me - they already requested to come round to inspect after removal - personally inspect. The damage is essentially done on fitting and I would strongly imagine they would replace the carpet if they don't like the indents that will be left. It's as if it's theirs already in some ways - I'm not the same with the one I hope to buy and would never start sending builders around without asking and explaining but maybe I'm the naive one?

I mean they'd replace carpet anyway - with or without indents - it's certainly clearly ready.

Is it possible that your buyers were aware that work needed to be done, but not how much it would cost? Renovations are a lot more expensive than they used to be and many people underestimate how much work will cost (even you have described some quotes as 'eye watering').

If the quotes have come in substantially more expensive than they expected the house no longer offers good value and they will need to revise their offer.

I am looking for a doer upper and there is a house I'm considering that would need at least a full cosmetic renovation, yet it's only priced £30k below other move in ready houses on the same street. And this is before a survey which will probably uncover all sorts of other things that need to be done.

Our buyers asked for a reduction following their survey - all issues were clearly visible so we said no
I wasn't bothered by them asking - in their shoes I would have asked - it's always worth a try!
You don't have to use the removal service they want you to - just say no if it doesn't suit you

The thing is I don’t inspect roofs when I view a property!

Surely you understand they must have received their own lenders report and instructed quotes accordingly? That is normal

It should also be no surprise to you that if work is needed costing thousands of pounds that they are not going to be happy with that!! - you don’t just give someone a discount sitting silently in the knowledge that the roof is fu%**ed so you are happy to give it.

Get your own quotes and make it clear to these people they shall not instruct people to enter your private property for their own quotes without your prior knowledge and agreement!

I think it's a bit unreasonable to say the roof stuff is 'easily visible' - there's a world of difference between a ridge tile repair and needing a new roof & if you expected the first, the second could be 'a shock'.
Also as PP said, the EAs aim is to flog a house & get their commission, not work in your best interest so forget anything they 'advise'.

But IMO - If there were 3 offers the appetite is there for your type.of property. Decline their offer (because it was priced to reflect needing extensive work, and they've already had a reduction!) and be prepared to go back to market.

Entitled buyers are a pain in the arse. I had one who acted like it was her house before handing over a penny, but I can only advise to stay neutral, stick to your rights (e.g. appointments before visiting) and try not to get emotionally led into giving too much leeway, nor cutting off your nose to spite your face.

Entilted sellers who think their run down pit is worth a fortune can be a pain in the arse too.

At the end of the day if you think any party is going to be too much hassle to do business with then just walk away. There surely will be hordes of other buyers out there to take their place if your house is attractively priced in the market.

Pricing your sale too high is a matter of play stupid games, win stupid prizes.
Buyers who do this are far more likely to encounter last minute negotiators, problems with lenders downgrading the value of the asset etc.

We sold a huge very old house and pool that was an ongoing source of maintenance. The best strategy we found for selling it , reflecting the work to be done had been taken into consideration was to walk the potential buyers around the property first thing and show them everything ( well almost) that needed work.

This immediately separated the buyers who were really interested in our beautiful home from the dreamers. We had no problems with negotiations.

@Whataretalkingabout

has the right approach!

I agree. Be firm and say no.

They sound like chancers.

This is such a ridiculous assumption. Say no if you like but them asking once doesn't mean they'll aks for "more and more" Why would it? We're buying a house. The survey showed up a biggish issue we weren't aware of when we offered (only visible on the drone survey) so we asked for a reduction accordingly. Seller suggested a smaller reduction, we agreed. Done. Absolutely won't be asking for "more and more"

Presume you have a price in mind you’re wanting for the property. If you can offer a discount and still do everything you wanted with the sale proceeds then do what it takes to get this over the line and move on.
If their counter is going to change your position materially then let them know, the price already reflects the work required to bring the property up to a habitable standard and if they no longer wish to proceed you will relist the property. There’s no guarantee this will get you more money, or the sale through quicker. But you do need to see this as a business transaction and take the emotions out of it. Otherwise this is going to exhaust you.