wwyd? Survey says we are overpaying a little for house - so we renegotiate? isn't that just gazundering?

[oranges]

Not sure what to do really - we sold our place fast to buyers who were straight forward so I don't have a desire to screw our vendors around BUT, the survey says the property is probably worth about 20 grand less than what we are paying (which is already a discount on asking price). and there are little bits of work that need doing - fixing a garden wall etc. Do we renogiate, or stick to original deal and maybe ask for a discount for the repairs?

that makes me feel a lot better! It will be a home so the extra cash doesn't matter too much as we don't plan to move and are borrowing within our means - we did have very fair buyers for our place and I did want to pass that goodwill on but I guess its not wanted.

If an extra 20 grand does not matter that much to you would you mind giving it to me? It would mean A LOT to us

Best of luck with your move.

it means a lot, but i dont want the deal to fall through! thanks for the good wishes.

Oranges,
how did the saga end? I am in the same boat now. Made an offer over a month ago, valuation came back fine, but a number of things we are supposed to fix as per surveyor's opinion. so we ran around last 2 weeks getting all quotes in. now the seller is all unhappy, saying: 'the roof is not leaking so don't fix it', the boiler is working so dont change it etc. while the surveyor and experts said we should.

we offered price reduction but seller saying they would leave us their fridge? dishwasher? and washing machine instead... why would i want those to start with??? if i did i'd be renting not buying right? plus a built in dishwasher is part of fixtures i think.

bloody annoyed

Sulik from the sellers point of view i would think they are bloody annoyed too with you trying to lower the price after you made an offer especially if the roof is not leaking and the boiler is working.
its a tough business selling/buying houses and surveyors always point something out to cover their back. im not sure you can just get quotes and simply just try to pass these costs onto the vendor...

Sulik, unless the house was a new build the survey will inevitably highlight items/area that may need attention or repair within a certain timeframe.

Unless they need immediate attention, I think you are being unreasonableto expect it to be done by your seller. I agree that if the boiler is working there is no need to replace it. (We were told that our old boiler was on its last legs about 4 years before it finally gave up and we relaced it.)

If the valuation came back fine I'd say the boiler and non leaking roof are just one of those things you'll do as and when, you must be getting an ok deal for the valuation to be the same.

we had an offer accepted on a house a few weeks ago and had a shock when the valuation came back 15 grand less. We phoned the agents and discussed key points with them and put in a lower offer (the mortgage company obviously reduced what they were willing to lend based on the valuation, so we had no choice)....and we really didn't expect the vendor to accept. But he did because he conceded that it would keep happening with subsequent buyers if he turned us down(he has had a sale collapse already). It is an old property with some key issues that need attention before we can progress and many more which will need attention in the future, which we anticipated anyway with it being an old property.
Having looked around and received advice it appears this isn't an uncommon occurrence during the sort of drop we have seen in the housing market.
I have to admit to feeling a little uncomfortable with it, but we want the house, we have fallen in love with it but would be daft to pay more than it is valued at. What we have done is negotiate to share the costs of the work which needs doing before we progress, as we don't feel it's fair for the vendor to meet all of these costs in view of how much of a drop he's taken on the asking price.

Advice please - put offer in on house, survey valuation 20K less, tons picked up from survey, surveyor thinks about 20-30K of work ahead. I will be re-negotiating price when I have quotes etc - do I do this through solicitor, or estate agent ? is it entirely reasonable to expect the price reduction to reflect the work to be carried out, or do you meet in the middle ?

gibbogirl what kind of work needs doing? Was the house put on the market at a reduced rate in anticipation that work needed doing to it or was it done at market value? I think you have to answer those questions before you can answer yours iyswim.

Hi, it was done at market value, the wording was 'needs some updating'
i sort of expected that re-plumbing, wiring would need doing which was picked up on survey, but it also flagged up re building chimney stacks, roof patch repairing (so scaffolding expensive), all windows / doors to be replaced as rotten inc cills, rendering around windows, all downstairs re plastered due to damp from vegetation on outside wall which needs taking away - also drains blocked, and might need replacing ... i knew kitchen / bathroom conservatory need doing but I wasn't prepared for all the rest - surveyor says i'm looking at 20-30K to do all the work before normal re-doing of kitchen / bathroom ..