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Surveyor Report Back - What now/ how to renegotiate price?

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  • 18-01-2010 8:51pm
    #1
    angelic123
    Registered Users Posts: 57 ✭✭


    Second hand house -30 year old 4 bed bungalow.

    Hi there..we just got our surveyor report back and the house is in need of a few changes..were not even sure if some things can be fixed or what price they will cost.

    Basically we want to know how we go about negotiating a new price as all of the things on the report will need to be fixed and were not happy to pay the same price as before.

    If anyone is interested in helping or seeing e the list let me know and i will post it.

    Thanks in advance


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    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    angelic123 wrote: »
    Second hand house -30 year old 4 bed bungalow.

    Hi there..we just got our surveyor report back and the house is in need of a few changes..were not even sure if some things can be fixed or what price they will cost.

    Basically we want to know how we go about negotiating a new price as all of the things on the report will need to be fixed and were not happy to pay the same price as before.

    If anyone is interested in helping or seeing e the list let me know and i will post it.

    Thanks in advance

    You need to talk to a builder straight away. There's no point talking about negotiating a price until you know how much it will take to put the building in a livable state.


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    #3
    angelic123
    Registered Users Posts: 57 ✭✭angelic123


    stepbar wrote: »
    You need to talk to a builder straight away. There's no point talking about negotiating a price until you know how much it will take to put the building in a livable state.

    Do builders give quotes for free or do they charge?
    Should we expect to be able to negotiate the price?


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    #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    angelic123 wrote: »
    Do builders give quotes for free or do they charge?
    Should we expect to be able to negotiate the price?

    I have never heard of a builder charging for a quote and especially not now.
    This is what I would do.

    1. Get a price for the building works
    2. Find out what you could rent the property for once fully finished
    3. Plug your rent into the following formula -
    ( ( (Yr rent x 12 months) - 10% (Yr rent x 12 months) ) / 6 ) * (100)
    4. Make an offer based on 3.
    5. Do not enter into discussion with the EA, make an offer and stick to it.
    6. Be prepared to walk away.


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    #5
    angelic123
    Registered Users Posts: 57 ✭✭angelic123


    stepbar wrote: »
    I have never heard of a builder charging for a quote and especially not now.
    This is what I would do.

    1. Get a price for the building works
    2. Find out what you could rent the property for once fully finished
    3. Plug your rent into the following formula -
    ( ( (Yr rent x 12 months) - 10% (Yr rent x 12 months) ) / 6 ) * (100)
    4. Make an offer based on 3.
    5. Do not enter into discussion with the EA, make an offer and stick to it.
    6. Be prepared to walk away.


    Thanks for your help and advice :)

    3. Why do we need to find out what we could rent it for?


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    #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    angelic123 wrote: »
    Thanks for your help and advice :)

    3. Why do we need to find out what we could rent it for?

    Because of point 4.

    A house has an economic value. Now one could say it's what you could build it for from scratch. Fair enough. A second hand house's economic value, IMO, is based on what you can rent it for (assuming the house is in a fit state to live in). It's a good yard stick to have in mind.


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    #7
    Victor
    Registered Users Posts: 78,387 ✭✭✭✭Victor


    Ask your surveyor if they can put a price on how much it would take to fix. you need to define "fix", e.g. will you be doing the redecorating or will the builder? After 30 years you might be looking at re-wiring, partial, re-plumbing and insulating. Do you want to change all the bathroom, kitchen fittings, etc.?
    stepbar wrote: »
    A house has an economic value. Now one could say it's what you could build it for from scratch.
    That doesn't necessarily account for land value and other factors.


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    #8
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Victor wrote: »

    That doesn't necessarily account for land value and other factors.

    Building a house from scratch includes the cost of everything (to include the cost of land and the provision of services). I never said economic value accounted for that. That's why rental income (in my eyes) is the only true reflection of how valuable a property is.


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    #9
    angelic123
    Registered Users Posts: 57 ✭✭angelic123


    Hi we got our quotations..told the EA and he was a right ass about it.
    He said he spoke to our surveyor (which im not happy about) who said there was nothing major in the report - yet we got a quote 6k to fix the "minor" problems and this was off a relative who isnt screwing us!!
    the EA said they didnt expect this after what the surveyor told them and he is not happy. We forwarded the report and quote to them.. we are hoping to renegotiate a price now of at least 3k below offering.. any ideas on how we can get around them if they put up a fight?


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    #10
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    angelic123 wrote: »
    Hi we got our quotations..told the EA and he was a right ass about it.
    He said he spoke to our surveyor (which im not happy about) who said there was nothing major in the report - yet we got a quote 6k to fix the "minor" problems and this was off a relative who isnt screwing us!!
    the EA said they didnt expect this after what the surveyor told them and he is not happy. We forwarded the report and quote to them.. we are hoping to renegotiate a price now of at least 3k below offering.. any ideas on how we can get around them if they put up a fight?

    If you're not satisfied- move on.
    Be fully prepared to move on, and make sure they are fully aware of it.
    Once you get an emotional attachment in a house purchase- you are screwed, utterly and totally screwed.

    Make an offer that you are satisfied with- give it to the EA, put a time limit on it- and at the end of the time limit- walk.

    Seriously......


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    #11
    angelic123
    Registered Users Posts: 57 ✭✭angelic123


    Thanks Will do.. were sick of this EA at this stage he is not a game player just a bully. if they are willing to let the sale go then so be it.


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    #12
    tevion
    Registered Users Posts: 104 ✭✭tevion


    What were the problems that the surveyor discovered, that you didnt see yerself when you viewed the house?
    Just wondering because I am in the process of buying myself, and am thinking of not using a surveyor and just giving the house a very thorough inspection myself.


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    #13
    astrofool
    Registered Users Posts: 16,641 ✭✭✭✭astrofool


    I wouldn't care about the happiness levels of the EA. Was the original offer made on the basis of spending no money fixing the problems?


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    #14
    angelic123
    Registered Users Posts: 57 ✭✭angelic123


    astrofool wrote: »
    I wouldn't care about the happiness levels of the EA. Was the original offer made on the basis of spending no money fixing the problems?

    Yes it was. I dont care about EA as ive mentioned already, he is only looking after his commission. Will let ye know what happens tomorrow


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    #15
    angelic123
    Registered Users Posts: 57 ✭✭angelic123


    tevion wrote: »
    What were the problems that the surveyor discovered, that you didnt see yerself when you viewed the house?
    Just wondering because I am in the process of buying myself, and am thinking of not using a surveyor and just giving the house a very thorough inspection myself.

    There were 12 problems (sewage, insulation, chimney things, trusses in roof, excavator fans, en suite problems - the list goes on) that we would never have known our surveyor cost us €480 vat inclusive our quote to fix the problems is for 6k.. up to you but i wouldnt risk it for such a small amount in comparison. We didnt see any of the problems and found he was much more thorough then we ever would have been. Had we not got him we would have saved 480 initially but forked out 6k in the long run


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    #16
    tevion
    Registered Users Posts: 104 ✭✭tevion


    angelic123 wrote: »
    There were 12 problems (sewage, insulation, chimney things, trusses in roof, excavator fans, en suite problems - the list goes on) that we would never have known our surveyor cost us €480 vat inclusive our quote to fix the problems is for 6k.. up to you but i wouldnt risk it for such a small amount in comparison. We didnt see any of the problems and found he was much more thorough then we ever would have been. Had we not got him we would have saved 480 initially but forked out 6k in the long run

    yeah good point alright.
    Were you happy with the work the surveyor did for the price charged?
    I havnt done any research yet into finding one that is reputable, that does a good job for a reasonable price.
    Maybe you could pm me details of the one you used if you would recommend the one you used please?


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    #17
    Rory1
    Registered Users Posts: 188 ✭✭Rory1


    When you agree to purchase a house, do you pay a deposit up front before you get survey or after. If OP has already paid deposit, could EA not refund it. [I have never bought a house]


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    #18
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Rory1 wrote: »
    When you agree to purchase a house, do you pay a deposit up front before you get survey or after. If OP has already paid deposit, could EA not refund it. [I have never bought a house]

    Deposits are fully refundable in a house purchase. until you sign for the house you have eevry right to pull out at no expense.

    OP if it costs 6k to fix drop your offer by 6k. If the EA doesnt like it walk away.


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    #19
    angelic123
    Registered Users Posts: 57 ✭✭angelic123


    D3PO wrote: »
    Deposits are fully refundable in a house purchase. until you sign for the house you have eevry right to pull out at no expense.

    OP if it costs 6k to fix drop your offer by 6k. If the EA doesnt like it walk away.

    Thats the plan.. feeling alot stronger about it all now.. initially got succured in by our love for the house..now its down to business :)
    thanks for all the help


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