Independent Leyton Orient Forum

Posted: **Sat Sep 21, 2024 9:16 am**

As Max’yyyy says, really.
All I’d add is that you decide *before* the results come back what you’re willing to cede, if anything.

I don’t know your circumstances but if you can afford to wait, and you do have the potential for other buyers on the horizon, do the maths about how much you’ll lose every month you don’t sell, and use that as your guiding principle.

But there also really is nothing wrong with the idea that you treat the survey as their own thing, which lets them know how much they’ll have to pay on upkeep, and you just maintain what you’ll accept. The risk is all yours in that case, as they might walk away, but you’re within your rights.
I’d personally be tempted to meet them halfway just to get it done, as you have no guarantee that the next buyer won’t be even more of a pain in the arse

Posted: **Sat Sep 21, 2024 9:44 am**

We know roughly how much we're willing to give them. Open to negotiation so long as its not a pisstake. There's a couple of items i can throw in as sweeteners.

I wouldn't want to start again and risk losing the property we're buying so I'll tread carefully

Posted: **Sat Sep 21, 2024 10:11 am**

You might want to give them a time limit on "soon". Or, say - "that's fine, but while you're putting that list together we'll pop the property back on the market and accept viewings etc" - it's worth underlining that you'll walk away, especially if time drags on.

They seem to be spending quite a bit on surveyors, so they sound committed.

Posted: **Sat Sep 21, 2024 10:12 am**

Max B Gold wrote: ↑Sat Sep 21, 2024 9:05 am Don't cut off your nose to spite your face.

Hmmm. I don't recall you ever giving this advice to Conkles.

Posted: **Sat Sep 21, 2024 2:00 pm**

CEB2ElectricBoogaloo wrote: ↑Sat Sep 21, 2024 9:16 am As Max’yyyy says, really.
All I’d add is that you decide *before* the results come back what you’re willing to cede, if anything.

I don’t know your circumstances but if you can afford to wait, and you do have the potential for other buyers on the horizon, do the maths about how much you’ll lose every month you don’t sell, and use that as your guiding principle.

But there also really is nothing wrong with the idea that you treat the survey as their own thing, which lets them know how much they’ll have to pay on upkeep, and you just maintain what you’ll accept. The risk is all yours in that case, as they might walk away, but you’re within your rights.
I’d personally be tempted to meet them halfway just to get it done, as you have no guarantee that the next buyer won’t be even more of a pain in the arse

I would absolutely be doing this - letting them know they can have all the surveys they want, no problem, but the price is as has already been agreed.

Posted: **Sat Sep 21, 2024 5:56 pm**

Long slender neck wrote: ↑Sat Sep 21, 2024 12:02 am Today they've said they'll soon send me an outline of all the quotes they've had so we can agree on how much to give her off for all the checks and repairs.

They're going to be disappointed

Best response is that the house was valued as is - in it's current condition. Up to you if you want to give them a little rope, of course. Always makes me laugh that some buyers expect the seller to drop the price so they can get any refurbishment paid for by the seller.

Posted: **Sat Sep 21, 2024 7:18 pm**

Long slender neck wrote: ↑Sat Sep 21, 2024 9:44 am There's a couple of items i can throw in as sweeteners.

I think there are laws about giving your children away.

Posted: **Sat Sep 21, 2024 7:38 pm**

Whats the chances of this 'damp and timber' contractor that is being sent round not finding anything wrong? That whole industry sounds like a con. So I'll be in a position trying to convince this buyer that nothing is wrong

Posted: **Sat Sep 21, 2024 8:12 pm**

You’re on a hiding to nothing arguing the toss that nothing is wrong - if they hear that it is, you won’t convince them otherwise.
The most important aspect is simply what you’re prepared to accept for the house.

The reasonable middle way will be that if there’s something discovered that really is something that imminently needs fixing - and would require you to fix yourself sooner rather than later - then either you’ll need to swallow it, or lose the buyer.

Posted: **Sat Sep 21, 2024 8:47 pm**

At the moment all i know is this contractor will be checking the construction of the floor, which seems ridiculous because its pretty obviously solid.

Elsewhere I don't believe there are any major problems but i just dont trust the damp industry. Fireplace has seen better days which worries me most.

Posted: **Sat Sep 21, 2024 9:09 pm**

Why don't you just tell the buyer now how much you're willing to accept as the price has been set on its current condition and to save money on all these checks if they're not willing to pay it.

Posted: **Sat Sep 21, 2024 9:15 pm**

I've tried pointing out what a waste of time these latest checks are, even sent photos of the solid floor under the carpet but they are determined to do their 'due diligence'

Posted: **Sun Sep 22, 2024 10:08 am**

Just realised we are including a fair amount of stuff with the house so if buyer wants to be meticulous with repairs and renegotiate price then we will say we'll reconsider whats staying

Posted: **Sun Sep 22, 2024 11:12 am**

Long slender neck wrote: ↑Sun Sep 22, 2024 10:08 am Just realised we are including a fair amount of stuff with the house so if buyer wants to be meticulous with repairs and renegotiate price then we will say we'll reconsider whats staying

Is the stuff part of the sale agreement? If not, i wouldn't bother mentioning it as it adds a level of pettiness to the deal which may sour things.

Posted: **Sun Sep 22, 2024 11:33 am**

Possibly. But if they want to renegotiate..

Posted: **Sun Sep 22, 2024 11:36 am**

Long slender neck wrote: ↑Sun Sep 22, 2024 11:33 am Possibly. But if they want to renegotiate..

Have you already agreed to leave the stuff?

Posted: **Sun Sep 22, 2024 11:38 am**

For the sale price agreed yes

I dont want it to be petty

Posted: **Sun Sep 22, 2024 11:40 am**

Just keep the 2 copies of Panda, the second best Orient fanzine.

Posted: **Sun Sep 22, 2024 12:25 pm**

Long slender neck wrote: ↑Sun Sep 22, 2024 11:38 am For the sale price agreed yes

I dont want it to be petty

If you've already agreed a price it might be worth something along these lines.

"The price we've agreed is the price I'm willing to accept and I've agreed it based on the state of the house as it is. To set expectations, I won't be moving on the price as a result of your surveys. If you feel you need to pay to have these extra surveys for your own peace of mind, that's fine, but please don't expect them to be the start of some renegotiation on price. Meantime, I'm asking the agent to accept other notes of interest in case you decide it's not for you."

Posted: **Sun Sep 22, 2024 12:27 pm**

Presumably, there's already been some to-and-fro on the price it was listed at ? Have you already discounted on the list price?

Posted: **Sun Sep 22, 2024 12:37 pm**

No movement on the price yet. They offered asking price but are now after an 'allowance' for checks and repairs.

Posted: **Sun Sep 22, 2024 12:53 pm**

Long slender neck wrote: ↑Sun Sep 22, 2024 12:37 pm No movement on the price yet. They offered asking price but are now after an 'allowance' for checks and repairs.

Did you expect to get the asking price?

Posted: **Sun Sep 22, 2024 12:55 pm**

I wasn't sure. Its an older property unique for the area. Two agents suggested listing it higher, one lower.

Posted: **Sun Sep 22, 2024 1:01 pm**

Long slender neck wrote: ↑Sun Sep 22, 2024 12:55 pm I wasn't sure. Its an older property unique for the area. Two agents suggested listing it higher, one lower.

Would you have settled for less? If so, how much is that?

Remember the money you have in "investment" in the property is down to your privileged position of being financially able to borrow capital to finance an asset purchase fueled in value by the overheated SE property market. So anything you "give away" during these interminable and protracted negotiations isn't real money.

Posted: **Sun Sep 22, 2024 1:13 pm**

Not immediately, but we sold for asking a week after listing.

Anything I concede I'll have to cough for to make our purchase.

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