Possible to renegotiate price after building inspection? Have you done it? Any tips?
Building inspection on a house I am buying has come back advising replacement of 1.5 - 2m retaining wall along full length of property. Additionally there are verandah rails that aren't of an approved construction as well as another repair that would amount to total of maybe $10K+(guesstimate on my part). Contract was signed off on at what I considered a good/reasonable price for the house but with expectations of only cosmetic repairs being needed.
Would you try and renegotiate price? Anyone been successful doing this?
Any tips on how you would approach it, and whether I should go to the agent first or just put it in writing from the solicitor would be appreciated.
Additionally, there have been termites in the property very recently, possibly/probably caught in the early stages but pest inspection will clarify that soon.
Experienced negotiators opinions especially welcome!
ps seller had their previous contract fall over......
Building inspection on a house I am buying has come back advising replacement of 1.5 - 2m retaining wall along full length of property. Additionally there are verandah rails that aren't of an approved construction as well as another repair that would amount to total of maybe $10K+(guesstimate on my part). Contract was signed off on at what I considered a good/reasonable price for the house but with expectations of only cosmetic repairs being needed.
Would you try and renegotiate price? Anyone been successful doing this?
Any tips on how you would approach it, and whether I should go to the agent first or just put it in writing from the solicitor would be appreciated.
Additionally, there have been termites in the property very recently, possibly/probably caught in the early stages but pest inspection will clarify that soon.
Experienced negotiators opinions especially welcome!
ps seller had their previous contract fall over......