House needs some work, seller won't budge on price - thoughts?

Letree

I would only lower my price if the surveyor found something actually faulty like a leak or a boiler that wasn't working etc. I would not drop my price to bring a house up to current regs. 90% of houses out there are prob not up to current regs when you consider today's insulation standards etc.

If you are serious about buying try and get something off the 20 if you can, maybe 5k or so.

intheclouds

Floodzie wrote: »

A work colleague recently bought a house and had to jump through hoops first because of subsidence issues.

But thats a structural issue. Anything you mention isnt a structural problem.

riclad

A house built in 1995 is not subject to 2016 building regs.
As long as it built as per building regs in 95.
Things like cracked old window frames may need to be replaced ,cracked tiles replaced
bricks repointed ,wall replastered ,insulation upgraded etc
You can force some one to reduce the price ,go ahead with sale or
look for another house .
IF you want to live in this area ,buy the house.
As you say houses are being snapped up.
Basic repairs don,t go out of date .
Banks get a basic survey to say house is worth say 150k,
if loan is 150k.
they would not really care if theres 10k work to be done on a house .
IF house is structurally sound.
20k may include putting in new pvc windows or adding insulation .
IT sounds like you have lots of small things to fix which will add up to 20k in total.
you can give sellers solicitor copy of survey ,
repairs needed 20k.
ask for 5k off the price .

RAMBLIN FURY

I.M.O
(this is purely guesswork because I don't know the house or what it looks like)

It sounds like your surveyor has put a "spanner in the works" !! is he/she a registered professional or are we talking "bar stool opinions" ??

Once upon a time regulations wouldn't let you install windows that opened from lower transom (for child safety, so they wouldn't be able to fall out)

I can except, out of courtesy, that the seller should make sure the roof is water tight (slates, Tiles, flashing etc) and of sound state.

Dampness should be addresses (if any) and any foundation movement should be addressed (if any).

I.M.O Any issues that both seller and buyer are ware of should be discussed and an agreement made but if a solution cant be found then you should continue your search for a home that you will feel confident about purchasing.

Irrelevant of qualifications and professional titles people are given, it doesn't mean they are good at their job !! and they know "everything".

Example, Ireland's slogan within the industry "Concrete built is better built" !!! errr No its not, that is about 30 years behind the rest of Europe!! or for commercial property.

Even property purchasing in Ireland is a bit backward with the rest of Europe on their policy's, a non existent protection for the potential purchaser/buyer!!

So in reality any purchase of a residential property is a gamble.

Finally If you really really love the property and can see yourself living there and enjoying a comfy home BUY IT !!, your only here once! and you ain't gonna take it with you..

Floodzie

RAMBLIN FURY wrote: »

I.M.O
(this is purely guesswork because I don't know the house or what it looks like)

It sounds like your surveyor has put a "spanner in the works" !! is he/she a registered professional or are we talking "bar stool opinions" ??

Once upon a time regulations wouldn't let you install windows that opened from lower transom (for child safety, so they wouldn't be able to fall out)

I can except, out of courtesy, that the seller should make sure the roof is water tight (slates, Tiles, flashing etc) and of sound state.

Dampness should be addresses (if any) and any foundation movement should be addressed (if any).

I.M.O Any issues that both seller and buyer are ware of should be discussed and an agreement made but if a solution cant be found then you should continue your search for a home that you will feel confident about purchasing.

Irrelevant of qualifications and professional titles people are given, it doesn't mean they are good at their job !! and they know "everything".

Example, Ireland's slogan within the industry "Concrete built is better built" !!! errr No its not, that is about 30 years behind the rest of Europe!! or for commercial property.

Even property purchasing in Ireland is a bit backward with the rest of Europe on their policy's, a non existent protection for the potential purchaser/buyer!!

So in reality any purchase of a residential property is a gamble.

Finally If you really really love the property and can see yourself living there and enjoying a comfy home BUY IT !!, your only here once! and you ain't gonna take it with you..

I've used the surveyor before, he's pretty good. Although he did recommend I get a separate opinion on drainage and the roof. The roof was renovated recently (attic room) and seems in good nick. Might take his advice on getting a roof survey, but to be honest, it still probably wouldn't stop us buying.

Floodzie

Floodzie wrote: »

It's an up and coming part of South Dublin, very close to a better area (1 min walk). Another similarly priced house was sale agreed in a couple of months.

Wow, half a million for an up and coming area!

Floodzie

bubblypop wrote: »

Wow, half a million for an up and coming area!

Places just up the road are another 100k again... Amazing the difference a postal code makes!

To be fair, the upgrading of the house is outstanding - it really has the wow factor. A place like that over on the Southside - Ranelagh or Rathmines - would be 850k plus.

riclad

IT sounds like he got a full survey from a professional.
it came back with various problems ,repairs needed will cost 20k.
It,s not a gamble to buy a house, in that you can get a full survey before you buy
to point out repairs needed .
If you buy house ,you buy it as is ,then its up to you to carry out repairs .
Its a sellers market now, if you don,t buy it someone else will .
my friend bought house, he spent around 3k on insulation ,replaced all the
windows with pvc double glazed glass.put insulation in attic.
He knew all the work that would be needed before he bought the house .
Checking all roof tiles is important ,a tiny hole,crack, can cause
a large leak into the attic.

LeinsterDub

Floodzie wrote: »

Places just up the road are another 100k again... Amazing the difference a postal code makes!

To be fair, the upgrading of the house is outstanding - it really has the wow factor. A place like that in Ranelagh or Rathmines would be 850k plus.

Then why are you not like

Floodzie

LeinsterDub wrote: »

Then why are you not like

Haha - fair enough!

intheclouds

My interest is piqued - would you pm me the house advertisement (I wont try to buy it I promise!!)

Floodzie

Sorry - maybe in a couple of weeks once it's all done and dusted!

RAMBLIN FURY

With drainage, its a simple procedure, have a camera inspection done, Dynorod or similar.
If the attic has been renovated or "done up" but not to a living standard then I.M.O that's something you'll have to complete (bit like buying a car "sold as seen"). As for the roof, etc, I do agree it should be of sound state but if the cost is small compared to you loosing out on the purchase I wouldn't worry to much. In other words its not compulsory for the seller to do anything, the seller wants to sell "as is" and it sounds like they are not to budge or bothered who buys it as long as someone does.

Ahhhh Feck it !! go on and buy it and have yourself a love Christmas by the fire..

K.Flyer

Floodzie wrote: »

500k. Yes, 20k not a lot of money in comparison, but we will be completely broke after we buy the place. We'll only be able to afford a cheap couch and bed. That's it! :-)

If the above is correct and some of the issues require more immediate attention, how will you be able to fund the repairs yourself after paying the asking price.
Don't let your heart rule your head. Its very easy for people here to say "buy it" when it has nothing to do with them.
There is a big difference between "must be repaired / updated", and something that is still in good condition and built to the regs of the day but would now be an outdated practice.
Look at the list with the surveyor and work out the difference between the two. Then try to negotiate on the "must be repaired / updated " list. If there is still no move from the seller then you need to ask yourself can you afford the house, all the extra work and the ongoing maintenance that goes with it.
Best of luck.

LeinsterDub

K.Flyer wrote: »

If the above is correct and some of the issues require more immediate attention, how will you be able to fund the repairs yourself after paying the asking price.

They are cash buyers. Take out a small loan.

RAMBLIN FURY

Good Morning, Yes indeed I totally agree with you just like you obviously agree with me!! Have a lovely weekend !!

Gumbo

Floodzie wrote: »

It's so we have the option to sell in 10 years, and also to prevent more serious issues (for example some tiles need replacing which can cause water seepage etc)

In 10 years time the house will be out of date again. Will you then drop the price to meet the current regs at that time?

Thoie

Floodzie wrote: »

There's nothing that we want done in terms of how we would use the house. The bedroom windows need to be changed because there are fire regs now that say the bottom half needs to open, currently they open from the top and I can see the issue of having to climb over a pane of glass if trying to get out. Also, the attic conversion can't be used as a bedroom until we install a fire door. These will be one of the first things we change.

There are some tiles that need replacing too, and a long list of minor issues. The house is structurally and functionally fine (we don't even need the attic conversion for the time being).

Personally, I'd buy it. In the short term I'd buy a window hammer (or a few of them) if I was concerned about fire safety.

I'd consider whether I need to use the attic conversion as a bedroom immediately or if that could wait a year or so.

If I'm worried about cracked tiles in a shower that might leak, skim some silicon sealant/glue/clear nail varnish over them as a short term stop until you can afford to replace the tiles.

While there may be €20k of work required, it doesn't sound like any of it needs to be done the day you move in. If you're looking at a 10 year spread (or longer), you can do bits at a time over the years as you can afford them. It will be up to you to prioritise. For example if the windows are good other than your concern about escaping in case of fire, I'd probably leave that till last.

RAMBLIN FURY

@Thoie ...... Now Your Talking !!

jlm29

You're cash buyers. I assume you have some sort of an income to get to the point of buying a half a million euro house for cash. You're not completely broke. You don't have to land out a substantial sum every month on a mortgage/rent, and presumably you're good at saving, so it won't take you very long to have the cost of those renovations in the bank.

Its only a waste of money trying to bring the house up to current regs.

Unless something really needs attention I wouldn't even consider it. If the windows are good you would be mad to spend money replacing them, same for adding a fire door in the attic though that shouldn't be an overly expensive job, you can be sure most attic conversions in the country don't have a fire door and are being used as bedrooms.

But once they predate the regulations it makes no difference you can sell it no problem in the future. I can't imagine how much money your average home owner would have to spend to meet current regulations.

ted1

Floodzie wrote: »

There's nothing that we want done in terms of how we would use the house. The bedroom windows need to be changed because there are fire regs now that say the bottom half needs to open, currently they open from the top and I can see the issue of having to climb over a pane of glass if trying to get out. Also, the attic conversion can't be used as a bedroom until we install a fire door. These will be one of the first things we change.

There are some tiles that need replacing too, and a long list of minor issues. The house is structurally and functionally fine (we don't even need the attic conversion for the time being).

When new regs come in, existing stock is exempt.
There is nothing that needs to be done to the house, it's all optional.
If you want to buy it , then pay what the seller wants or just walk away

ted1

Floodzie wrote: »

It's not just tiles, there is some insulation needing replacing, a minor issue with plumbing, a roof rafter is weak and should be replaced eventually... the list goes on.

In 10 years, if we want to sell and the buyer has a mortgage, then the bank will not lend the money if there are issues highlighted by a survey.

Surveyers cover their asses, most reports are generic and suggestive. Was their any structural flaws that needed addressing ASAP

Floodzie

LeinsterDub wrote: »

They are cash buyers. Take out a small loan.

Technically we are cash buyers, but we are borrowing from family for a lot of it.

Floodzie

ted1 wrote: »

Surveyers cover their asses, most reports are generic and suggestive. Was their any structural flaws that needed addressing ASAP

Nope - it's in walk-in condition and was lived-in up until a few months ago.

Floodzie

Thanks for all the responses everyone - I think the main thing I was wondering about was whether it's standard for sellers in this market not to budge. I always thought if I was selling a property I would be happy to drop a few thousand if there were some issues that came up after a survey, but this has given me pause.

We'll go ahead and buy the place (we're already sale agreed and will hopefully be signing in the next few days). We will look forward to a housewarming and putting up the tree at Christmas!

seamus

Floodzie wrote: »

I think the main thing I was wondering about was whether it's standard for sellers in this market not to budge.

Basically, yes.

Really the only time a seller will negotiate down is when a survey finds something dangerously wrong with the house which must be fixed immediately,
or when they've had no bites and don't want to lose an offer.

Best of luck, I hope it all goes well for you.

mitresize5

Penalty wrote: »

I think you need to understand what the survey is saying.

It costs 20k to bring the house to CURRENT building regs. There is no problem with the house as it met the regulations when it was built. It does not need to be brought up to current regs to sell. It only matters was it built in accordance with the planning permission and regs at the time of completion.

99% of houses sold do not met current regs. No seller is going to reduce their sale price to reflect the cost of upgrading the house to current regs.

Its up to you to decide if you want to upgrade your house.

If you want to change the window that's on you not the seller. If its something you want to do to give you piece of mind afterwards then thats your choice.

Things like the tiles will need to be done as you say to stop leakage but relatively small costs and are you going to lose the house over that.

Great post - can that be made a sticky or copy and pasted to the weekly 'The survey says I need to spend X, can I renegotiate' thread

68 lost souls

jlm29 wrote: »

You're cash buyers. I assume you have some sort of an income to get to the point of buying a half a million euro house for cash. You're not completely broke. You don't have to land out a substantial sum every month on a mortgage/rent, and presumably you're good at saving, so it won't take you very long to have the cost of those renovations in the bank.

They aren't they are getting a family loan so no official mortgage but will have to repay family memebrs, very messy

RAMBLIN FURY

68 lost souls wrote: »

They aren't they are getting a family loan so no official mortgage but will have to repay family memebrs, very messy

Surely thats their own business and your "opinion"..... Yes ??