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Homebuyers Survey - FTB its put us off
tododo
Posts: 131 Forumite
Hi all.
Whoever does read this post I thank you for your time....this could be a bit lengthy
Basically we have just recieved our homebuyers report back and its now scared us to death. I have a few questions on what you guys think.
We have made an offer on a property that we knew needed updating. The price was accepted at £155000 when it was advertised for £170000 and then £165000. We realised the property needed a new combi boiler installed and the old baxi boiler removed. We also guessed that it may need electrics rewiring at some point along with a new bathroom, kitchen and general updating. For our first time buy it needs quite a bit of work. We are putting £45000 as deposit and this has really left us with nothing to spend although if needed we can get our hands on £10000 if needed urgently (we probably will dip into this)
Its a three bedroom semi detatched in a good school catchment. The area is an affluent area.
These are the general thoughts of the surveyor. I know surveys are generally pessimistic but here goes.....Ill try to pick the main points out. There are quite a few points that im not too concerned with as my father is in the building trade so he doesnt really see any big problems with those. I'll try not to bore you with all the details
OVERALL OPINION
This property is considered to be a reasonable proposition for purchase provided that you are prepared to accept the cost of the various repairs/improvements required and any associated inconvenience. Such work is quite common in properties of this age and type. Provided the work is carried out to a satisfactory standard there is no reason why there should be any special difficulty on resale, under normal market conditions.
MOVEMENT
There are signs to suggest that the property has been affected by past structural movement as evidenced by differential settlement cracking around the front bay and from our single limited inspection this would now appear to be longstanding and non progressive. Nevertheless, we refer you to our recommendations under item C5 - `Main Walls', regarding the bays and some remedial repairs may be necessary.
Distortion was also noted to door frames and again as far as could be seen from a single inspection the movement appears longstanding, unlikely to be progressive and within acceptable tolerances.
TIMBER DEFECTS
A representative sample of timber has been inspected and the possibility of concealed defects being present cannot be entirely ruled out.
There are signs of rot and decay to external joinery and this will be discussed in C5 below.
Areas of timber work adjoining damp walls may be susceptible to or affected by rot.
Ventilation to the timber ground floor is inadequate and additional air bricks or grills are required. hi such situation there is a possibility that rot may have occurred and a precautionary check of timbers (including under floor areas) is essential
Rising and Penetrating Damp
Random checks for damp were made wherever possible using an electronic damp meter and isolated areas of rising dampness were noted.
Furthermore, old damp staining was identified to the front double bedroom particularly around the bays etc. There is no evidence of current dampness, but this staining indicates that there has been a problem in the past. It is therefore important that the roof valleys are adequately and regularly maintained to reduce the risk of damp penetration occurring.
Chimneys
The property has one shared brick built chimney stack.
Flashings where visible are of leadwork construction.
The chimney stack requires the raking out and repointing of defective mortar joints.
The flaunchings at the top of the stack could not be fully seen from ground level. It is highly probable that some deterioration has occurred and works can be expected.
Main Walls
There are signs to suggest that the property is possibly affected by early signs of corrosion of the ties normally built into the wall cavities. This is not an uncommon problem but should be investigated further by a specialist company.
Areas of external rendering have also become cracked and damaged and will require renewal. The opportunity should then be taken to examine lintels and replace as necessary.
As mentioned earlier the upper bay appears to be of timber framed construction. Externally this bay has been spar dashed rendered and internally it has been dry lined. The rendering has become cracked and damaged and there is a strong risk that damp penetration has occurred, damaging the timbers below. Such timbers could therefore have become rot affected and it may be necessary to rebuild the bay in modern building materials.
The upper gable wall is also of timber framed construction and externally clad with asbestos. See section C6 - `Other' regarding asbestos products.
Again, the timbers around this gable could also have become rot affected and future repairs are considered probable and a closer examination is warranted.
Ceilings
Ceilings appear to be of predominantly lath and plaster construction, although part of the kitchen ceiling appears to be of plasterboard construction.
Lath and plaster ceilings of this age have a limited life and it is likely that large areas of plasterwork will fall away when the decorative finish is removed. Repairs to such ceilings are difficult to carry out and replacement is the only alternative. You should budget for probable renewal.
Polystyrene tiles are fixed to part of the kitchen ceiling and may constitute a fire hazard and could also conceal defective plasterwork. These tiles should be removed and all ceilings made good as necessary.
Internal walls and partitions
Internal walls and partitions are of solid construction. The original mortar walls still exist to most areas and these have been papered over. Consequently, it is envisaged that large areas of plasterwork will fall away when the decorative finish is removed. Considerable internal replastering works are envisaged.
Shrinkage cracks were also noted in the plasterwork, although these are not considered to be significant in a property of this type and age. Some making good will be required prior to next redecoration.
Water
Mains water supply is available. Plumbing where seen is run in a mixture of copper and lead and suggests that at least some of the pipework is old and needs renewal.
Lead pipework in a property should be replaced for health reasons.
Underground supply pipework has not been inspected. In a property of this age if it has not already been replaced the pipework is likely to be of lead or cast iron and will need renewal.
An internal stopcock could not be located and further enquiries are recommended. If it is discovered that one does not exist you should arrange for its installation.
The old galvanised metal cold water storage tank is located in the roof void and requires replacement.
Heating
Central heating and domestic hot water is understood to be provided by the gas fired back boiler located in the rear part of the through lounge.
The hot water cylinder is located in the airing cupboard. This should have a lagging jacket fitted.
The central heating and domestic hot water is of some age and the system is likely to require upgrading/renewal. Further advice from a Corgi registered gas engineer is recommended and it may be more cost effective to replace the system with a combination boiler.
Drainage
Drainage is assumed to connect into a public sewer via a system which is likely to be shared with adjoining owners.
The lid to the inspection chamber was lifted and no signs of recent blockage or significant damage was identified.
The drains are believed to run beneath the kitchen extension and this can make access for repair and maintenance more problematic.
Some downpipes discharge into gulley pots. The existence of soakaways, however cannot be confirmed.
Other downpipes discharge onto footpaths and should be made to discharge into gulley pots or soakaways and well away from the main walls of the building.
A cage should be fitted to the soil and ventilation pipe.
Garage and Outbuildings
There is a metal and asbestos garage which is in poor condition and requires complete demolition and rebuilding in accordance with local authority consents and in modern building materials. Please also see comments made under item C6 - `Other'
MARKET VALUE
Taking all of the above into account the current market value of the freehold interest in this property in the condition found at the date of inspection is £155,000 (One Hundred and Fifty Five Thousand Pounds) with the benefit of full vacant possession.
Now I know there is a lot of info above.......some im not TOO concerned with ie wall ties as the folks say they cant see an issue with the ties at all and its not a massive job anyway,
A big concern for me is the asbestos garage. It does require complete demolition so I am about to go back to the estate agent and ask to knock a few grand off the price. Is this reasonable?? We cant really afford to get rid of the garage ourselves as Ive heared its quite expensive and in anycase we havent really got the money to do that as well as the other big stuff (gas, electrics)
If the vendor doesnt knock any more off or get rid of the garage then I think we may just forget about it.
What do you guys think??.....Im thinking of running a mile. If I do that then I will probably lose the fees we put down for the mortgage?
I would also like to know about the surveyors market value. Will he ever say that the property is worth more than what we paid for it??
Thanks for any advice and thanks for taking the time to read about this mare
Whoever does read this post I thank you for your time....this could be a bit lengthy
Basically we have just recieved our homebuyers report back and its now scared us to death. I have a few questions on what you guys think.
We have made an offer on a property that we knew needed updating. The price was accepted at £155000 when it was advertised for £170000 and then £165000. We realised the property needed a new combi boiler installed and the old baxi boiler removed. We also guessed that it may need electrics rewiring at some point along with a new bathroom, kitchen and general updating. For our first time buy it needs quite a bit of work. We are putting £45000 as deposit and this has really left us with nothing to spend although if needed we can get our hands on £10000 if needed urgently (we probably will dip into this)
Its a three bedroom semi detatched in a good school catchment. The area is an affluent area.
These are the general thoughts of the surveyor. I know surveys are generally pessimistic but here goes.....Ill try to pick the main points out. There are quite a few points that im not too concerned with as my father is in the building trade so he doesnt really see any big problems with those. I'll try not to bore you with all the details
OVERALL OPINION
This property is considered to be a reasonable proposition for purchase provided that you are prepared to accept the cost of the various repairs/improvements required and any associated inconvenience. Such work is quite common in properties of this age and type. Provided the work is carried out to a satisfactory standard there is no reason why there should be any special difficulty on resale, under normal market conditions.
MOVEMENT
There are signs to suggest that the property has been affected by past structural movement as evidenced by differential settlement cracking around the front bay and from our single limited inspection this would now appear to be longstanding and non progressive. Nevertheless, we refer you to our recommendations under item C5 - `Main Walls', regarding the bays and some remedial repairs may be necessary.
Distortion was also noted to door frames and again as far as could be seen from a single inspection the movement appears longstanding, unlikely to be progressive and within acceptable tolerances.
TIMBER DEFECTS
A representative sample of timber has been inspected and the possibility of concealed defects being present cannot be entirely ruled out.
There are signs of rot and decay to external joinery and this will be discussed in C5 below.
Areas of timber work adjoining damp walls may be susceptible to or affected by rot.
Ventilation to the timber ground floor is inadequate and additional air bricks or grills are required. hi such situation there is a possibility that rot may have occurred and a precautionary check of timbers (including under floor areas) is essential
Rising and Penetrating Damp
Random checks for damp were made wherever possible using an electronic damp meter and isolated areas of rising dampness were noted.
Furthermore, old damp staining was identified to the front double bedroom particularly around the bays etc. There is no evidence of current dampness, but this staining indicates that there has been a problem in the past. It is therefore important that the roof valleys are adequately and regularly maintained to reduce the risk of damp penetration occurring.
Chimneys
The property has one shared brick built chimney stack.
Flashings where visible are of leadwork construction.
The chimney stack requires the raking out and repointing of defective mortar joints.
The flaunchings at the top of the stack could not be fully seen from ground level. It is highly probable that some deterioration has occurred and works can be expected.
Main Walls
There are signs to suggest that the property is possibly affected by early signs of corrosion of the ties normally built into the wall cavities. This is not an uncommon problem but should be investigated further by a specialist company.
Areas of external rendering have also become cracked and damaged and will require renewal. The opportunity should then be taken to examine lintels and replace as necessary.
As mentioned earlier the upper bay appears to be of timber framed construction. Externally this bay has been spar dashed rendered and internally it has been dry lined. The rendering has become cracked and damaged and there is a strong risk that damp penetration has occurred, damaging the timbers below. Such timbers could therefore have become rot affected and it may be necessary to rebuild the bay in modern building materials.
The upper gable wall is also of timber framed construction and externally clad with asbestos. See section C6 - `Other' regarding asbestos products.
Again, the timbers around this gable could also have become rot affected and future repairs are considered probable and a closer examination is warranted.
Ceilings
Ceilings appear to be of predominantly lath and plaster construction, although part of the kitchen ceiling appears to be of plasterboard construction.
Lath and plaster ceilings of this age have a limited life and it is likely that large areas of plasterwork will fall away when the decorative finish is removed. Repairs to such ceilings are difficult to carry out and replacement is the only alternative. You should budget for probable renewal.
Polystyrene tiles are fixed to part of the kitchen ceiling and may constitute a fire hazard and could also conceal defective plasterwork. These tiles should be removed and all ceilings made good as necessary.
Internal walls and partitions
Internal walls and partitions are of solid construction. The original mortar walls still exist to most areas and these have been papered over. Consequently, it is envisaged that large areas of plasterwork will fall away when the decorative finish is removed. Considerable internal replastering works are envisaged.
Shrinkage cracks were also noted in the plasterwork, although these are not considered to be significant in a property of this type and age. Some making good will be required prior to next redecoration.
Water
Mains water supply is available. Plumbing where seen is run in a mixture of copper and lead and suggests that at least some of the pipework is old and needs renewal.
Lead pipework in a property should be replaced for health reasons.
Underground supply pipework has not been inspected. In a property of this age if it has not already been replaced the pipework is likely to be of lead or cast iron and will need renewal.
An internal stopcock could not be located and further enquiries are recommended. If it is discovered that one does not exist you should arrange for its installation.
The old galvanised metal cold water storage tank is located in the roof void and requires replacement.
Heating
Central heating and domestic hot water is understood to be provided by the gas fired back boiler located in the rear part of the through lounge.
The hot water cylinder is located in the airing cupboard. This should have a lagging jacket fitted.
The central heating and domestic hot water is of some age and the system is likely to require upgrading/renewal. Further advice from a Corgi registered gas engineer is recommended and it may be more cost effective to replace the system with a combination boiler.
Drainage
Drainage is assumed to connect into a public sewer via a system which is likely to be shared with adjoining owners.
The lid to the inspection chamber was lifted and no signs of recent blockage or significant damage was identified.
The drains are believed to run beneath the kitchen extension and this can make access for repair and maintenance more problematic.
Some downpipes discharge into gulley pots. The existence of soakaways, however cannot be confirmed.
Other downpipes discharge onto footpaths and should be made to discharge into gulley pots or soakaways and well away from the main walls of the building.
A cage should be fitted to the soil and ventilation pipe.
Garage and Outbuildings
There is a metal and asbestos garage which is in poor condition and requires complete demolition and rebuilding in accordance with local authority consents and in modern building materials. Please also see comments made under item C6 - `Other'
MARKET VALUE
Taking all of the above into account the current market value of the freehold interest in this property in the condition found at the date of inspection is £155,000 (One Hundred and Fifty Five Thousand Pounds) with the benefit of full vacant possession.
Now I know there is a lot of info above.......some im not TOO concerned with ie wall ties as the folks say they cant see an issue with the ties at all and its not a massive job anyway,
A big concern for me is the asbestos garage. It does require complete demolition so I am about to go back to the estate agent and ask to knock a few grand off the price. Is this reasonable?? We cant really afford to get rid of the garage ourselves as Ive heared its quite expensive and in anycase we havent really got the money to do that as well as the other big stuff (gas, electrics)
If the vendor doesnt knock any more off or get rid of the garage then I think we may just forget about it.
What do you guys think??.....Im thinking of running a mile. If I do that then I will probably lose the fees we put down for the mortgage?
I would also like to know about the surveyors market value. Will he ever say that the property is worth more than what we paid for it??
Thanks for any advice and thanks for taking the time to read about this mare
0
Comments
-
Before you do anything it is best to arm yourself with the facts first.
Contact the local council Enviromental Contracts or Enviromental Services division, they will have a specialist term who undertake removal of asbestos under controlled conditions. They will be able to indicate the cost of this to you, and the likely disruption it may cause.
Dont run out on a potential bargain until you know exactly what the costs are likely to be.
Andy0 -
Yeah, at a minimum I'd get at least a rough idea of the cost of removing the asbestos: that can get expensive...0
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Asbestos cement is about the safest form of asbestos, even more so when it is outside see http://www.aic.org.uk/FAQAC.html and also google "asbestos garage removal", you are allowed to do your own demolition and take it to a dump yourself, don't believe the scams that are going on with asbestos. They are mainly rip offs.
HTHThe quicker you fall behind, the longer you have to catch up...0 -
OK just been on the phone to one company who said it costs about £500-600
The council also offers a collection service of bonded asbestos sheets as long as the quantity does not exceed 3 sheets (3’ x 8’).
OK that make me feel a bit better.....the survey also recommeneds getting I think every expert in the land to have a look at the property from damp and wood preservation people. electricians, gas contractors, bilding contractors
Now luckily my father can do a lot of the stuff himself ie chimney stacks etc (i think hes looking forward to the prospect) however I cannot rely on him all the time especailly as he now getting older
Do we really need these people in before hand?
Mr Proctalgia that for that link......that will put the girlfriend at ease a bit0 -
I'd suggest finding out how much you need/want to spend on the above works against survey and also any decorating that will need doing.
Then find out how much a suiatbly renovated property would be worth. If the purchase price plus cost of works is substantially less than this, then you shouldn't worry too much, as long as you have access to the funds to do the work as gradually as is needed.
Also keep in mind that these survey findings may have been on here when the vendors bought, and they still bought it, and they might end up still being on there when you sell, and someone will still buy the house!Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
Thanks guys
Do you think I am a bit cheeky in asking for a price reduction beacause of this garage? At the end of the day the property was sold as comming with a garage and Im gutted its got to be demolished at some point.......I was hoping to put all my junk in there.
I was only thinking of trying to knock say £1000 off the price......is this too little or too much?0 -
WHat do you have to lose? The wost that can happen is that they say no and ask you to stick at the original price.
If we do not ask, we do not get.
Andy0 -
Personally I would phone the surveyor and ask him how long he thinks the garage will last. "In poor condition" could mean replace in 5 years time!
I'm waiting for a quote on replacing a flat asbestos cement sheeted roof with a pitched roof. I'll post when I get the quote.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
On the subject of the Garage, our's was described in 1995 in virtually the same "frightening" terms... complete demolition, care and removal etc. It's still going strong as we speak, have a look at the garage yourself and open the doors, does the whole thing shake, does dust fall from the walls, then maybe look into dismantelling it yourself, but if it's sound and not shakey, leave it be.0
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