Survey Back - help needed with what to do next

gastroboy

Hi Guys

The survey came back on the property that we are in the process of buying but there are a couple of things on it that need to be addressed. What do people normally do in this circumstance?

I was proposing on telling the vendor that I will need access to the property again so that I can obtained quotes for the items that need to be fixed and ask for a reduction in the price based on the quotes.

Does that seem like a fair approach? or do I just say, survey came back and ask for a reduction based on general over the phone quotes?

On the other hand, I know that from working with contractors, quotes are very rarely correct and it will always cost more than what they originally quoted, so is it fair to build in a margin as well?

thanks in advance

princessamy86

I think it depends what exactly the surveyor has found. Did they downvalue it at all?

cattie

What I've always tended to do is get 2 or 3 quotes over the phone & then take the highest as a bargaining tool over renegotiation.

It might help if you can mention what points the surveyor picked up on. Perhaps then people here can give you a rough idea.

gastroboy

Thanks for the responses.

There was no downvalue on the property (apartment). It came in at exactly what we offered which was interesting.

Areas of concern was the electrics - surveyor said it was quite old so may need replacing but we should get a electrical certificate before we exchange to be sure (as they haven't been checked in ages). Electrics sound expensive to replace so I am quite wary about this one.

second main point was some rot in the french doors frames out the back so the frames needed replacing. (soundn't be too much for this so not that worried)

phone quotes sound like the easiest way of doing it, but do you need to provide evidence of it or is it still very much a closed hand renegotiation?

pawpurrs

If its an old property, I wouldnt expect to have to reduce based on the above findings. Thats not much at all, and the property was not down valued.

Electrics are allways mentioned and unless its a new build they wont conform to modern standards. Presumably the vendor lives there quite happily with the electrics the way they are.

cattie

Surveyor's generally do value the property at the offer price. It's only if a property tends to need a lot of work doing to it that they down value.

Electrics are always picked up on by surveyors to cover their backs, as is damp.

You don't have to provide evidence of quotes to vendors for work needed but is useful when available.

How big is your flat & what area are you in as rewiring costs vary depending on whereabouts in the country you are?

It's not cheap & with a proper rewire, with the wires chased into the walls, it tends to mean every room needs redecorating afterwards.