Buyers asking for a 3k reduction

[cared]

I’m selling my bungalow, and the buyers want a discount because there are no fensa certificates. My uncle, who’s a builder, replaced all the windows and doors 3 years ago. I offered to cover the cost of indemnity insurance to finalise the deal, but they declined and are now asking for a 3k reduction instead. The house has had a new boiler, rads, windows, front door, french doors at the back, new bathroom, flooring, guttering, a new driveway, and a few other minor updates. While it’s a small amount in the grand scheme of things, I feel like they’re already getting a good deal considering all the work I’ve put into the place, and honestly, I think they’re just taking the piss. AIBU to call their bluff?

Thank you. Yes, luckily I’m not in a rush as I’m moving in with my partner. I was considering asking the EA to contact the others that offered, think I will give them a call in the morning

Unfortunately, OP, I think you're going to come across this problem with most buyers now. It's really not an unreasonable ask (for the certificate). They'll be told by their solicitor what it's 'standard' to ask for and decide whether they want to take a risk and, if so, how much it will cost if their risk doesn't pay off.

It is annoying, but you really only have a few options:
(1) say no and see what they do;
(2) say no but add that are still willing to buy indemnity insurance for them;
(3) say yes;
(4) get the regularisation certificate another poster suggested.

And no, issues don't always show up immediately. That's why new builds usually have a 10 year warranty period for certain defects/issues.

I had this when we Sold our old house. A friend had installed the windows. We got a man from the council to come round and he signed them off. I think it cost £150, but this was 16 years ago, so would probably be more now. A lot cheaper than £3k!!

I think they're trying it on, loads of places don't have them, I have never even thought about it when buying a property, nor has it ever come up with anything I've sold.

Mortgage rates aren't rising again here in the UK nor are they predicted to rise.

I disagree with you on the Fensa issue. Most people buying a house where the vendor has replaced the windows would want one they show compliance with local regs and the fact you haven't got them may seem like you have dodged the regs in some way. Is it worth 3k, that is up to you.

My recent buyers and their solicitor were crazy hot on regs for everything and it was never even mentioned.

My uncle only sorted the windows, doors and flooring. Heating system was done by a registered gas engineer/plumber, roofer sorted the guttering etc

yes same loads of people I’ve spoken to don’t have them. I don’t see what the big deal is really 🤷🏼‍♀️

Any other buyers will also want a FENSA certificate.

In this market an offer £5k under asking is strong. Offers of 10% under are not unusual.

The price agreed was 5k less than the valuation. I presume other buyers might've paid the full asking price. So yes it's been reduced/knocked off however you want to phrase it!

Not sure getting an uncle and experienced builder can be classed as 'cutting corners '
You could maybe give another £1000 off
What has made them come up with the number 3000 ?

I pulled out completely for similar

That is possible, but with the market the way it is the Op's next best offer, if she goes back on the market, might be 10k less

Can''t you counter-negotiate? Remind them that they've already had £5k reduction which you're willing to add another £1k to but thats your final offer and if they don't accept it you'll re-market it.

I'd just say no. When we sold a relative's home we said no to anything extra, they can like it or change their minds and you can move on to one of the other buyers. As you aren't desperate you are in quite a good position.

I’ve just sold my house and they wanted Fensa certificates for windows we’d had installed. I think pretty much all solicitors will ask for them.
I’d cut my losses and go with the 3k deduction.

https://www.msn.com/en-in/news/other/mortgage-rates-back-on-the-rise-three-more-major-lenders-hike-home-loan-prices/ar-AA1VvEFr

It’s easy then. No, we had other interested parties and you’re already purchasing for less than asking.

We had a sale nearly fall through when selling our house. They went from we are first time buyers take ur time no rush for a move date. To 4wks later stating they want in 4wks from now or were pulling out. I always got the feeling they wouldn’t have pulled out as they told me they’d missed out on so many houses in the area and were in rented.

I was so tempted to tell them where to go. However we got full asking price and hadn’t had any other offers. Although it sold within 4wks. I gave in and we had to move in with family, incur storage costs and pay moving costs twice. It wasn’t fun. I’ve always wondered if I should have said no. Kinda wish I had and agreed to a date 8 wks from then or at least asked the question.

In your situation I’d be pushing back. Say no, test the water. They may agree to £1k reduction in the end or nothing at all.

If you don't have the certificate or equivalent it can seriously delay the conveyancing whist they try to sort it. If your relative is FENSA registered he should have issued a certificate. If not then you can either get retrospective certification as a PP said. Or you can get insurance. FENSA has been a requirement since 2002 so windows older than that are exempt but its all to do with safety and energy efficiency.

I think you're lucky they only want £3k off as I would likely pull out of the purchase over this. A friend of mine had windows put in by a cowboy who didn't do the FENSA certificates and she ended up with bowing ceilings, so it isn't the non-issue you seem to think it is. Your uncle might be the world's best builder but your buyers don't know that.

Really not worth risking sitting on the market or another lower offer for the sake of 3k in my opinion, just let them think they got something and get the sale done.

If it was part of an extension with building regs approval then you don’t need the Fensa certs do you? Otherwise can your uncle produce certificates now? Maybe he keeps records. I’d pay for indemnity insurance if this can’t be resolved.

I’ve offered to pay for Fensa Indemnity insurance but they said no. They want 3k off the purchase price

Bungalows are always in demand so they are in a different market altogether - tell them to go swivel! What’s the £3k going to be for?

So it’s not about the windows at all the they are having money problems. Pull out now