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How flexible to be when your buyer asks for work based on survey?

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    #31
    Originally posted by LondonManc View Post
    Have you ever bought a house?
    Bought 17, sold 9.

    That's an interesting question you raised. May I ask you why you asked it?

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      #32
      Originally posted by RetSet View Post
      Bought 17, sold 9.

      That's an interesting question you raised. May I ask you why you asked it?
      Yes. The price isn't agreed "as is". The sale is agreed "subject to survey". If the survey turns up something untoward, then the ball is generally put in the seller's court as to whether they want to contest the issue, drop the price and let the buyer fix it or have it fixed themselves and keep the price as it is.
      The greatest trick the devil ever pulled was convincing the world that he didn't exist

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        #33
        Originally posted by LondonManc View Post
        Yes. The price isn't agreed "as is". The sale is agreed "subject to survey". If the survey turns up something untoward, then the ball is generally put in the seller's court as to whether they want to contest the issue, drop the price and let the buyer fix it or have it fixed themselves and keep the price as it is.
        STS is to cover material issues. £500 is a trivial amount. If the buyer really wants the house he'll suck it up. He's already spent multiple times that amount on the survey, legals, mortgage costs etc.

        Buyer has sunk costs on the line.

        If he pulls out for the sake of £500, he wouldn't have gone ahead anyway.

        HTH

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          #34
          Originally posted by RetSet View Post
          STS is to cover material issues. £500 is a trivial amount. If the buyer really wants the house he'll suck it up. He's already spent multiple times that amount on the survey, legals, mortgage costs etc.
          A typical buyer might have a no completion-no-fee solicitor and no up-front mortgage costs, and have spent a few hundred on a survey and a bit more on searches. You might as well say the seller has money invested in their own fees, and in the house-move they've themselves committed to.
          Originally posted by MaryPoppins
          I'd still not breastfeed a nazi
          Originally posted by vetran
          Urine is quite nourishing

          Comment


            #35
            Originally posted by d000hg View Post
            A typical buyer might have a no completion-no-fee solicitor and no up-front mortgage costs, and have spent a few hundred on a survey and a bit more on searches. You might as well say the seller has money invested in their own fees, and in the house-move they've themselves committed to.
            And the purchaser (or more likely, the purchaser's wife) will have already planned out where all the furniture is going, how Little Johnny's room will be decorated, and told all family & friends about 'the new house'.

            In short, the purchaser will have invested a massive amount of emotion in the deal.

            I said it before, and I will say it again. If the purchaser walks it's because he was going to walk anyway. The £500 is irrelevant.

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              #36
              Probably true. Though if you've committed to buying somewhere, you equally are not going to mess up your new house purchase over £500
              Originally posted by MaryPoppins
              I'd still not breastfeed a nazi
              Originally posted by vetran
              Urine is quite nourishing

              Comment


                #37
                Tell them you will go halves on it - get in a leccy and get the job done at a local rate and pocket any change

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