Not sure what to do upon reciept of valuation from surveyors?

verve78

Hi all, I am a first time buyer and am currently in the process of buying my first house. I have requested a full building survey from the valuation company my mortgage provider uses. Today I received a 'Valuation for Mortgage Purposes' document which although not the full survey document upon which i am still waiting, flagged up some essential repairs to the roof (strapping and bracing) which they estimate will cost £2000 to put right.

What is they normal approach given that this has been flagged as an essential repair, do I first of all wait for the full survey to come through before contacting the vendor?

Would I be within my rights to lower my offer on the property by £2000 to cover the costs of these repairs, is this a common thing that happens when a survey flags up an issue?

Lastly would it be best to inform the estate agent/vendor of this issue and subsequent drop in offer via my solicitor?

Thanks for taking the time to read this post and for any subsequent advice given.

PasturesNew

Wait for the whole report to come in, sit down the a cup of tea and a plate of biscuits, then mark up all the bits you're unsure about ... then come here and ask

You can contact the surveyor direct to ask him about specific things he wrote, asking them "would YOU buy it with this problem?" is often a good query.

It might be that they suggest you get some further experts in for advice/checks/quotes.

Generally speaking, you are supposed to put an offer in "subject to survey" if you intend potentially renegotiating once you've read it ... but if there's stuff in there you're not comfortable with, then it wouldn't hurt to renegotiate. Some things might have been factored in already, others might not.

So, just wait, read, come here.

verve78

Thanks for the advice, I will hang fire until the full report comes in before deciding what to do.

chickmug

Do any negotation through EA as they have more to lose than if you tried to do it through your solicitor. Latter will still usually get paid for any work they do but EA would lose commission if you pulled out.

I find that surveyors ideas of costs in survey can be well out - too high. So you are better to get ideas on prices from the respective trades people. This latter advice I would give to the seller as well and perhaps find a mutually agreeable tradesman to advise both if you want to be seen as being straight.

bbr92

Hi we are currently in the same position. A home buyer survey has picked up a few issues with regards to exterior pointing that requires attention and also a possible ventilation issue which we are currently getting quotes for.

Also the survey stated that the house is built on a clay sub layer which could dry out if prolonged to extended dry conditions although no evidence of any movement in the past could be found. It was suggested we should raise this with insurnace companies? My question is "Why" if no evidence of any movement could be found why should it even be a concern?

chickmug

bbr92 wrote: »

My question is "Why" if no evidence of any movement could be found why should it even be a concern?

1) To cover the surveyors backs.

2) To see if Insurance companies know of any other properties in that area who have experienced problems.

verve78

I managed to get a copy of the full surey emailed through to me today.
From reading it there appears obvious concern with regard to the state of the roof. I am just a bit confused to exactly what i would need to get done to fix it and therefore what to try and get quotes for prior to exchanging contracts as if im looking at a new roof the cost of this will have to in some part at least come of my current offer price.

verve78

Think I am going to ring the surveyor up today and have a chat to find out exactly what i will be looking at needing to put right before going back to the vendor.

chickmug

Also get a Roofing Co into give you a quote. Bear in mind I sometimes found the experts not as alarmed as the Surveyors and the prices not so high as the Surveyors figures.

keith969

Definitely get a roofing company in to assess the roof and give you a quote for any work that needs doing - beware there are some that will recommend you have work done that is not actually needed, so it makes sense to get more than one estimate.

My buyer's surveyor raised some concerns about my roof, they got a roofer in to inspect it, he took a good look and said 'there's nothing wrong with it!'.

Morvern_callar

This happened to me when buying my house, the surveyor said the roof needed bracing. I contacted the EA, showed them the report, and said that I would have to offer less to cover the repairs. The EA passed the info on to the vendor, who arranged the repairs themselves, and my surveyor resurveyed once the work was completed. The whole thing only took about 3 weeks.