Some context. Selling a large detached in the South East, downsizing to be closer to family. We accepted an offer three weeks ago at asking price. The buyer has now had a full building survey done and the surveyor has flagged three things:
- ROOF. Some cracked ridge tiles and the surveyor says the roof covering has maybe 10 years left. We knew the ridge tiles needed attention but not the rest.
- DAMP. Rising damp detected in one corner of the front reception room. We have never noticed any damp in 22 years of living here.
- DRAINS. Surveyor recommends a CCTV drain survey before proceeding.
The buyer’s solicitor has now written to ours asking us to either reduce the price by £15,000 or carry out remedial works before exchange.
Questions:
- Are we under any obligation to agree to a price reduction at this stage? My understanding is no, but wanted to confirm.
- If we refuse and the buyer pulls out, do we have any recourse at all or is that just the risk of selling?
- Is it common for buyers to ask for a specific lump sum reduction rather than itemised costs? £15,000 feels like a number pulled from nowhere.
- Would it be worth us getting our own quotes for the roof and damp work so we have something concrete to negotiate with?
Not looking for sympathy, just clarity on where we stand.
No obligation to reduce anything. Until exchange neither side is committed. Buyer can walk and so can you. The 15k is their opening number, it always is. Get your own quotes for the roof and the damp. Guarantee it comes in under half that. Rising damp detected by a surveyor with a moisture meter means almost nothing, half the time its condensation or a faulty DPC.
@Awkward_Fellow the damp one is worth a specific comment. Surveyors use electrical conductance meters which are notoriously unreliable for diagnosing rising damp. They detect moisture, yes, but cannot distinguish between rising damp, penetrating damp, condensation, or just a wall that happens to be cold. A proper independent damp survey by a PCA-qualified specialist will cost you around £150 to £250 and will give you a far more credible answer. I would not pay for any remedial damp work on the basis of a surveyor’s moisture reading alone.
On the roof, Rob is right, get your own quote. Three roofers, compare. Cracked ridge tiles are a few hundred quid to sort. “Roof covering has 10 years left” is not a defect, it is a statement about the remaining lifespan, and most buyers will live with that.
PS: do not agree to carry out works before exchange. If the deal falls through you have spent money for nothing. A price adjustment is cleaner if you decide to concede anything at all.
@greenwhistle_hants useful point on the damp meters. The buyer’s surveyor has flagged RISING DAMP in the front reception room. Our own surveyor when we bought the place in 2004 said the same thing and we had a damp proof course injected at the time. So either it has failed, which is possible, or the meter is picking up something else.
Two questions. First, can we as seller ask to see the full survey report? Or is that the buyer’s property and they can choose to share only the bits they want. Second, if we get our own damp specialist to inspect and they contradict the buyer’s surveyor, does that carry any weight or does the buyer just say no thanks and walk.
We have told the agent we are not reducing by 15k. Agent seemed unsurprised.
The survey belongs to the buyer. You cant demand to see it and most buyers wont share it because it weakens their negotiating position. Get your own damp specialist in, get a written report, and send it to the buyers solicitor. Thats the only move that actually changes anything.
Update on this. Took the advice and got an independent damp specialist in yesterday. His view: no rising damp. The moisture readings in the front room are caused by a failed gutter downpipe joint at the front corner, which has been saturating the brickwork externally for some time. Repair cost quoted at £280 plus VAT.
The buyer has now come back through the agents asking for a £5,000 reduction instead of the original £15,000. Their reasoning is apparently that the roof repair flagged in the survey still stands even if the damp issue is less serious than their surveyor suggested.
Two questions. 1. Do I respond through the estate agent or should I be going through solicitors at this stage. 2. If I agree to, say, £2,500 rather than £5,000, does this get documented as a revised sale price in the memorandum of sale or is it handled some other way.
Agent handles the negotiation. Thats literally what youre paying them for. Once you agree a figure the solicitors amend the contract price. Its not a separate document, the memorandum of sale gets updated and the contract reflects the new number. Dont overcomplicate it.
So no rising damp then. The buyer’s surveyor flagged something that doesn’t exist. Funny how that works. Every buyer’s survey I’ve ever seen reads like a horror novel because the surveyor is covering their backside. Don’t give an inch on damp now you have your own report. If they push back, tell them to get their own damp specialist and see what they find.
@CyclingChap47 that is more or less how it played out. Sent the damp specialist’s report over to the buyer’s solicitor on Tuesday. Their response came back this morning. They have dropped the damp claim entirely but are now pressing on the GUTTER repair and the REPOINTING on the south elevation. Their revised ask is a £6,000 reduction from the agreed price, down from £15,000.
My question. The gutter is genuinely failed, it was the cause of the moisture readings in the first place. I have a quote for repair at £1,800. Should I offer to get the work done before completion rather than conceding on price. Or does that create complications with warranties and who is responsible if the work is not satisfactory.
The repointing I consider cosmetic. It has been like that for 20 years.
Final update on this. Agreed a reduction of £7,500 on Friday. Buyer originally wanted £15,000, we countered with the actual cost of the gutter repair plus a contribution towards repointing. Agent handled the back and forth over three days.
Solicitors are now amending the memorandum of sale. Exchange pencilled in for the week of the 18th. Completion four weeks after that.
Two observations for anyone in a similar position.
- Getting the independent damp report was the single most useful thing we did. Turned a vague RISING DAMP claim into a specific, costed defect with a clear cause.
- The buyer’s surveyor was not wrong to flag moisture, he was wrong to diagnose the cause. Different thing.
Thanks to everyone who chipped in on this thread. Particularly the point about damp meters from @greenwhistle_hants which prompted me to get our own specialist in.
£7,500 reduction for a gutter repair and some repointing. Buyer got what they wanted, basically. Half the original ask is still a decent chunk off. Makes you wonder if the surveyor’s report was the negotiating tool all along and the actual defects were secondary. Glad it’s done though. Please update when you exchange.