Surveyors Report

Grz.26

Dear All,

The home buyers surveyor has come back to me with some Urgent matters that need to be looked at, including damp, a wonkey chimney, condensation, and external walls.

The property is a victorian building and I have looked at numerous threads on here and lots of others have experience with this on victorian buildings, so not overally worried about the damp situ, as it has been "tanked". Its more the chimney, and the roof space thats a worry for me.

I phoned up the EA and they said they can get someone around to optain quotes and then the vendor has 3 options, pay for it to be done, go 50/50 or does not pay anything. The vendor has pushed me to the limit as it is, and I cant afford to pay anything extra, is this normal to go 50/50? Or not pay anything, I dont think the vender will pay anything towards it. I dont mind doing the work as long as i get the money knocked off the mortgage, or they do it before i get in. Has anyone else had to haggle with vendor over survey?

The report did mention it was worth 4k less than we have offered anyhow.

Any help is appreciated.

Kind Regards

Richard - A First time buyer.

rjgb

Hi,

You could take a look at my post and the responses, if you have not already done so. We're in a similar situation to you.

http://forums.moneysavingexpert.com/showthread.html?t=1756293

suisidevw

As am I! All the best!

ciano125

Why have you allowed a seller to push you as far as you can go in this market? You're like gold dust at the moment, a FTB with (I presume) a mortgage in place, ready, able and willing to move. I've said it before, Murphy's Golden Rule applies in this market - he who holds the gold makes the rules!

My advice, for what its worth, go back, tell them (tell, don't ask) that its been valued at £4k less than you agreed and it needs £x spending on it so they need to reduce the price and do the work (or reduce it further if you have the money to do it, and you want to do it). If they arent prepared to meet these conditions, you're walking away. Then leave them. It wouldn't hurt to point out that any other buyer they might happen to find would come up against these problems anyway so they might as well bite the bullet and do it.

suisidevw

and if it's valued MORE than what you paid? (£500)

ciano125

Congratulate yourself on negotiating a good deal. :beer:

suisidevw

Thanks

However would you still approach vendor for reductions.........

ciano125

That all depends upon the situation I suppose. If you know they need to sell quickly, then you might choose to. It would make it harder if you didnt have a valuation to fall back on though.

suisidevw

True. Valuation received. Property being sold as an estate by the ladys two sons. Been on market since Feb. We got for £22.5k under asking price. Maybe just being 'greedy' and scared at forking out for works!

northerner79

Try to get the 4k knocked off, or walk away, someone shouldnt lose a sale for 4k. Surveyors are so scared of getting sued they are in some cases wrongly undervaluing property. In a valuation report they should make the valuation at that date but pass commentary on market trends.

Fire_Fox

Didn't you have a full structural survey? Do not rely on the tanking having been done well, there are plenty of examples of shoddy workmanship. It may be covering up dodgy foundations for example. Is the tanking covered by a guarantee and is the company still in business? Have you had a separate damp survey done (Rentokil are good IME)?