Buyer wants a price reduction after survey

[HouseDrama2026]

i ve named changed for this

We accepted an offer on our house earlier this year and took it off the market. The house had been listed for a while - it s a large family home in a more expensive price bracket, so not attracting tens of viewings.

They’ve now come back after their survey wanting a price reduction. I do understand surveys can throw up things, but I’m honestly frustrated because the property was priced with the age and condition in mind.

There are issues mentioned (roof, leaks, electric, and the survey feels quite heavy-handed in the context of what is, in reality, an older 1970s house.

We think they’re overreacting and trying it on. I m feel like we should walk away, but so much time invested already. If we relist, there is no guarantee that the same think wont happen again. Everything is taking forever and it s absolutely depressing. I feel so angry that it s also maybe clouding my judgement.

I get your point, but I wouldn't trust a builder to give any reliable indication the of market value. That would be a particularly important part of a survey to many in the current softening market. I wouldn't trust a mortgage surveys valuation either to be honest - because if you have a chunky deposit, they dont care so much if you overpay as its your deposit that gives them the security. For me I have always used a RICS surveyor and asked for condition and current value - but them I am a bit stubborn about getting good value and knowing exactly what Im buying.

No, but they shouldn"t protest too much when the survey finds the faults!

That assumes they can find new buyers.

Many surveyors won’t allow the survey to be shared, except with the buyer’s solicitors who will share excerpts. I know it’s different in Scotland. There seem to be many more properties reduced this year that were listed earlier this year or even last year. OP might get lucky with a buyer who only pays for a drive-by survey or mortgage lender valuation.

Lender valuation is likely to be more harsh in this climate?

Be careful OP. When I was buying recently the EAs always told me when a previous buyer had pulled out following a survey and it always put me off viewing as I presumed something bad had been uncovered. It’s quite off putting for buyers.

And some solicitors advise their clients not to share the survey but only provide some relevant screen shots etc. It's a document that is the buyer's property and cost them a few hundred pounds.

Good point, they will be even more inclined to go into the viewing (if they bother) with a price reduction mindset. Playing mind games with buyers in this market is definitely not a great idea.

The EA is also legally bound, if asked why a previous sale fell through, to tell the potential buyer. Although they do not have to offer this information upfront. So yes it will make for more cautious viewings

It’s a negotiation.

They are entitled to reduce their offer. You are entitled to pull out or renegotiate.

My surveyor told me that it is reasonable to expect a price reduction if urgent work is necessary or there is something unexpected, but 50% of the cost is reasonable, not 100%, as that would be getting new-for-old free.

It does sound like there are some things that need redoing urgently, so I would renegotiate and see if you can meet somewhere in the middle.

It’s not great market at the moment, especially at the higher price points and, with a potential fuel crisis coming, I am not sure it will be getting any better soon.

Trying it on. Tell them they have 5 days to exchange or contract withdrawn. Either they want it or they don’t.

That is a great way to end up sitting on the market for years, the buyer was willing to pay above valuation, just not the price the OP somehow thinks it is worth, so in effect you are chasing away someone willing to pay you more than your house is worth! Absolute madness really.

@KeepPumping Well the op knows it’s in need of tlc so it’s hardly surprising issues have arisen. The buyer always does a survey to find the faults because it’s extra outlay. The op could have imprinted the house, then there wouldn’t be much to negotiate on but when people don’t bother, you know this is coming even if you think the price is fair. I don’t see why op cannot negotiate because she’s not had lots of viewings and no other offer. It will make the agent think they are not serious sellers.

They are not serious sellers no, they think there will be someone else just around the corner willing to pay their price, many sellers think this, they sit on the market for literally years in some cases.

@KeepPumping ,

Property is at best a semi liquid asset though. Unless you live in a development with loads of identical houses, price discovery is very tough.

Sometimes a house will sit on the market for ages and then suddenly sell at close to asking, especially if it is idiosyncratic.

You need a good motivated agent, or a couple in competition with one another.

Equally, though, you do need to negotiate if there were genuine problems with a survey which wouldn’t have been obvious at a viewing, especially work that the buyer will actually have to do.

There's actually nothing to stop you as a seller getting a survey up front before you market the house, in exactly the same way people are forced to do it in Scotland.

Sellers don't do it though. I wonder why.

I've asked for a reduction post survey when the survey identified issues that we didnt already recognise were necessary.

If any problems were historic and have been fixed I'd refuse to move on those. Other things you really need to consider fixing or a price drop.

Nope.. my experience as an agent says otherwise. Issues always come up on surveys and it’s pretty standard to try a chip before exchange. Unless the purchaser is paying well over market value I would withdraw the contract. Nine times out of ten they are just trying it on.

I hear many agents are now going bust as business dries up?

Why on earth would a buyer want to pay "well over market value" on a property that has had very few views and has been on the market for ages?

From everything you’ve said I wouldn’t accept the lower offer

Id wait a day or two though to see if they want to go ahead with the previously agreed price

In the meantime
Perhaps get a survey yourself so you are prepared

Possibly.. I am not one any more although my dh is a developer and chopping is normal practice in his business too.

@cupfinalchaos There is no contract until a price is agreed! Plus you won’t be in business if you don’t negotiate between vendor and buyer! Most people have to, especially when there’s no other buyer anywhere near!

This is normal practice, that is why the purchaser has a survey. No house is perfect and the purchaser is being cautious. Either accept or renegotiate.

This purchaser wants to pay over the valuation, i.e more than the house is worth! So not that cautious, and the seller still wants to chase them away!