katie_dw
New Member
I hope this is the right place to post this - could do with some advice.
My partner and I are buying our first house. After only viewing half a dozen houses, we found the right one - a 3 bedroom 1960s semi in a quiet cul-de-sac.
We didn't really want to pay more than £140,000. With a mixture of our savings, a sizeable contribution from some asbestos compensation from my granddad and another contribution from my partner's parents, we could put down £20,000 and then have an addition £5,000 to do basic renovations (new floor for health reasons, french doors for security reasons, knocking the fireplace back in),nothing major or hugely expensive.
The house was up for £144,950. We did a bit of research and the sold house prices on the street were all over the place. Next door which was in a similar dated condition sold for £130,000 in September, but a house further along the street sold for £147,000 a couple of years ago - though it had been modernised. We initially offered £135,500, which was rejected and were told the vendor didn't have a specific figure in mind, but definitely wasn't going under £140k since it had only been up for a few weeks and had lots of viewings. We went up to £143, which was rejected, then £144. There were multiple people having second viewings and we didn't want to lose it - it had been so hard to find something that fit our criteria and I still haven't seen anything online that is as good.
As a result of having to go up, we had to put £25,000 down and go into our savings to do the work we want to do immediately.
We got our report back yesterday and there's a fair bit of red on it. Some of it actually probably is fine. There was an issue with the electrics, but it doesn't need a re-wire and the problem that is there can be sorted out by my dad who is very helpfully an electrician. The big ones are related to the chimneys. One is possibly unstable, but I'm less concerned about that - if it falls downs, it's shared with next door and buildings insurance can cover that. The other rear chimney breast is more of a concern. The chimney breast was removed downstairs, in the kitchen, but not further up the house. My dad's gut was it's probably okay. The kitchen is about 15 years old and the chimney breast would have been removed at that point, or before and if there was sagging, we'd see it - but we need a builder to have a look. We've forwarded it to the builder that did the work on my partner's parents' house and he said if it is an issue, it would likely cost around £2,000, but he'd need a look to see if it is a problem and to give a proper quote.
If there is a problem and it will cost at least that much, I don't think we can afford to.
I have emailed the estate agent and forwarded her the survey and said she can send it to the vendor. I've asked if the vendor is willing to do the work now, if it does need doing, and if not, would he be willing to drop the price to cover the cost of us doing the work.
What do you think the chances are? Especially with him being so stubborn with the price initially and it was valued at £144,000 - what we're paying.
Side note: The minor things we wanted to do came up as things that needed doing in the survey (bar replacing the carpet with hard floor - but I need that for my asthma).
My partner and I are buying our first house. After only viewing half a dozen houses, we found the right one - a 3 bedroom 1960s semi in a quiet cul-de-sac.
We didn't really want to pay more than £140,000. With a mixture of our savings, a sizeable contribution from some asbestos compensation from my granddad and another contribution from my partner's parents, we could put down £20,000 and then have an addition £5,000 to do basic renovations (new floor for health reasons, french doors for security reasons, knocking the fireplace back in),nothing major or hugely expensive.
The house was up for £144,950. We did a bit of research and the sold house prices on the street were all over the place. Next door which was in a similar dated condition sold for £130,000 in September, but a house further along the street sold for £147,000 a couple of years ago - though it had been modernised. We initially offered £135,500, which was rejected and were told the vendor didn't have a specific figure in mind, but definitely wasn't going under £140k since it had only been up for a few weeks and had lots of viewings. We went up to £143, which was rejected, then £144. There were multiple people having second viewings and we didn't want to lose it - it had been so hard to find something that fit our criteria and I still haven't seen anything online that is as good.
As a result of having to go up, we had to put £25,000 down and go into our savings to do the work we want to do immediately.
We got our report back yesterday and there's a fair bit of red on it. Some of it actually probably is fine. There was an issue with the electrics, but it doesn't need a re-wire and the problem that is there can be sorted out by my dad who is very helpfully an electrician. The big ones are related to the chimneys. One is possibly unstable, but I'm less concerned about that - if it falls downs, it's shared with next door and buildings insurance can cover that. The other rear chimney breast is more of a concern. The chimney breast was removed downstairs, in the kitchen, but not further up the house. My dad's gut was it's probably okay. The kitchen is about 15 years old and the chimney breast would have been removed at that point, or before and if there was sagging, we'd see it - but we need a builder to have a look. We've forwarded it to the builder that did the work on my partner's parents' house and he said if it is an issue, it would likely cost around £2,000, but he'd need a look to see if it is a problem and to give a proper quote.
If there is a problem and it will cost at least that much, I don't think we can afford to.
I have emailed the estate agent and forwarded her the survey and said she can send it to the vendor. I've asked if the vendor is willing to do the work now, if it does need doing, and if not, would he be willing to drop the price to cover the cost of us doing the work.
What do you think the chances are? Especially with him being so stubborn with the price initially and it was valued at £144,000 - what we're paying.
Side note: The minor things we wanted to do came up as things that needed doing in the survey (bar replacing the carpet with hard floor - but I need that for my asthma).
