When buying a house, it is always advised that you obtain a full home buyers survey. If you are unhappy with any of the contents of the survey and it reveals that major or costly works need to be carried out before or following completion (damp, wood rot, chimney stacks need replacing etc) then we would suggest that this is dealt with by way of price negotiation.
Price negotiations are usually dealt with via the estate agents. Both parties will need to agree to a suitable reduction. Both solicitors will then be informed by the agent. The buyer’s solicitor will HAVE to report the price reduction to the lender (if a lender is involved) as this could affect their lending amount, it may be necessary for the lender to issue an amended mortgage offer.
