Home Buyers Survey - Bad report

Not to derail the thread, but I do wonder if there have been other potential buyers who have dropped out after a survey? This quite bothers me about the English system - a steady stream of potential buyers all paying money for the same survey (often from the same company!).

There should be some way, once a survey has been conducted, for this to be public knowledge and for subsequent buyers to have access to the survey if wanted, for a suitable fee (to be paid to the previous buyer!)

The mention of Jk would be enough to make me run. Some lenders won't even entertain a mortgage with the mention of Jk EVEN with treatment. Remember the seller is only looking for treatment to take effect on their property to sell it. If the JK is from a neighbouring property then you will be in a position of paying for constant treatments and then be in a position where you might not sell the property in the future. My advice avoid.

dunroving wrote: »

There should be some way, once a survey has been conducted, for this to be public knowledge and for subsequent buyers to have access to the survey if wanted, for a suitable fee (to be paid to the previous buyer!)

Agreed... or the Seller should have a survey done and it be visible to all interested parties, like they do in Scotland (feel free to correct me if I am wrong) I guess that way the seller might be more motivated to get the repairs done - and would make the property easier to sell (in my opinion).

dunroving wrote: »

Not to derail the thread, but I do wonder if there have been other potential buyers who have dropped out after a survey? This quite bothers me about the English system - a steady stream of potential buyers all paying money for the same survey (often from the same company!).

There should be some way, once a survey has been conducted, for this to be public knowledge and for subsequent buyers to have access to the survey if wanted, for a suitable fee (to be paid to the previous buyer!)

That's far too sensible a suggestion, dunroving, which is why it will never happen. I'm sure surveyors would soon be up in arms if their highly-lucrative cash cow was circumvented by buyers selling their reports on.

Goath wrote: »

Agreed... or the Seller should have a survey done and it be visible to all interested parties, like they do in Scotland (feel free to correct me if I am wrong) I guess that way the seller might be more motivated to get the repairs done - and would make the property easier to sell (in my opinion).

Exactly. I'm selling in Scotland, where the seller can't even advertise a property for sale without first obtaining a "Home Report". Mine cost £480 and at first I was a bit disgruntled, because I am buying in England, so will have to pay for a survey on both properties!

HOWEVER, on reflection, I realised several things about the Scottish system.

First, it means the process is simpler in that you do not have to wait for a buyer survey (unless they decide they want a full structural survey done)

Second, as per my earlier point, it is just fairer all around, especially to potential buyers.

Third, it reduces the issues with ridiculous negotiations to reduce price by £1k because door handles need replacing, etc. The survey states the home's value in its current condition, so unless the buyer gets a survey, and that survey identities further issues, there are no surprises during the sale negotiation.

Fourth, it does allow some up-front negotiation. For example, in two bedrooms the plastering I had done experienced small cracks and shearing, close to the ceiling (in 10 years, it stopped getting any worse after year 1, so it's not a developing problem). Because I know the Home Report mentions these, it gives me and potential buyers the opportunity for up front discussion of whether I or they will get it done (different buyers prefer different options), and allows the buyer input into choice of paint colour, rather than being stuck with whatever colour I choose.