Imagine the following situation:
You already have an offer on a dream home. Your current house has potential issues with the roof of the home which has been mentioned needs replacement. It’s a 1920s property. You’ve been told by the buyer the cost of a quote of £17,000 but without details of what that quote involved. A second quote arranged by buyer as well came in at £10,000 but which was done from Google Earth remotely.
A third quote coming in at £4,000 was arranged by you the seller where the roofer was honest. The house had an extension at the back where the roof doesn’t need replacing, the lower roof of the terrace is rosemary tiles but shared with the neighbour. It’s a very small section of roof which could last 5-10 years and was OK according to the roofer who did lower quote. The main house roof probably needs replacing although no noticeable sagging of the underlying roof structure itself which would be the case if there was rot or damage and no ongoing leaks or damp issues.
Your buyer only has another 4-8 weeks remaining on their mortgage offer, you have 4 months on your mortgage offer. Contracts have been sent out and signed the upwards chain of the house you’re buying from are all ready to go. You’re waiting on one last roofer to come round with no time of day booked in.
Ideally we’re wanting to move in 4 weeks to clock ticking.
An offer of £4,000 towards any costs has been made as a contribution to the property given that you the buyer have only lived in the property 8 years and it’s due to appreciate in value due to new £100mil town renovations to the nearby area. Also we are looking at a geopolitical situation where rates are already 1-1.5% higher than when mortgages were agreed and could rise further though if we have to pay more so we don’t lose out on the house we’re buying then so be it.
We need to close out this deal but feel £4k meeting half of the roof replacement is fair. We have £20k work on the house we’re buying so can’t push it any more. We have 4 months on our mortgage offer so could find another buyer if needed.
Suggestions and advice?