Help with Mortgage Valuation Report

Knight_of_the_Orient

Hi,

I've just received the mortgage valuation report from the surveyor and they confirm the value however they say that although damp proofing work has been carried out indications of dampness and timber decay persist (it's an old house conversion).

It then says that reports and estimates should be obtained from specialists and tradesman before legal commitment to purchase, it doesn't elaborate on the location or extent of the damp and the property has been recently redecorated so it's not obvious to the untrained eye where it is.


I'm interested to know what everybody's recommendations would be on taking this forward, in particular:

• whether the homebuyers report, which I am waiting on, will elaborate on the extent and location of the damp
• in terms of getting estimates is it reasonable to expect the seller to pick up the cost of any fees
• tips on using this issue to negotiate a lower fee

Thanks,

pawpurrs

Pratically all surveys on an older property willl say this, perfectly normal.
Its up to you if you want to get estimates, not the seller, but we warned that nearly all timber and damp people will come up with work that needs doing, they are in the buisness to make money. A lot of the time, older properties will allways show high damp reasons due to the way that they have been constructed, but so called damp remiedies actually do more harm than good, and are best left alone,it does depend on the type and age of the property though obviously.
Reductions should only be asked for IMO if there really is a serious issue, if you are buying a period property then you have to accept certain things.
http://www.periodproperty.co.uk/ppuk_discovering_article_025.shtml
http://www.buildingconservation.com/articles/homebuyers/homebuyers.htm

pagetta

We are just going through exactly the same thing with a 3 bed 1920s semi, however, we have now had the specialist go in and it seems that, as said before, with older homes it is pretty much standard for the surveyor to say possible damp and timber rot as it is so prevalent and nearly always needs a specilalist report.

Our survey said that there were problems with the damp proof course, damp detected in a lot of walls, and in the floor which indicates rotten timbers....the specialist has come back and said all that needs doing is the ventilation shafts replacing at a cost of £300 and this will stop any damp that might be there - there's no signs of mould or mildew, and the specialist made no mention of timbers or anything else.

Just a note - our mortgage company called us back and recommended a specialist to go in and do a report for £150 +VAT but our solicitor told us we should NOT be paying for that and to ring estate agent, and he'll recommend a local specilaist who will do the report for free - which we did, and report has just been done at no cost.

Like its been said, these guys are out to make money so its inevitable something will need doing, in our case its only £300 we're hoping to negotiate with the vendors for them to pay for this, they may say no but they are keen to move so fingers crossed.