Serious Wood Rot on A Repossesion house

Owneymower

Hi All

Would be very grateful for any help on the following matter.

I found a repossesed house which ticked all the boxes and was advertised for £120,000. There was lots of interest and it went to a sealed bid so I offered £5,000 more in order to get it. My offer was accepted and the balls started rolling very quickly two weeks agao and they are hoping to exchange contracts next week.

My valuation only came back today and it states that there is evidence that the property is affected by a serious form of woodrot beneath the head tanker in the main roof void?

Anyone any idea how much this would cost and also, should I go back to the sellers solicitor (which is the bank as its a repossed house) and haggle the price down to cover some of the costs??

I'm a first time buyer so all this is new to me and very very scary!! :eek::eek::eek:

Dr.Shoe_2

It seems to me you're getting it at a knock down price anyway so I would say that morally you would be wrong to even ask for a discount - particularly as the outgoing owner who has had their home taken away from them will be expected to pay for it.

I can't help with a price but I don't think it needs to be expensive unless it's in advanced stages. My advice would be to get it treated sooner rather than later.

clutton_2

you cannot possibly expect anyone on any forum to give you any sort of sensible estimate as to cost... we dont know if it is wood-boring beetle; death watch beetle; dry rot; wet rot.... or what ... we also dont know the size of the area affected, or if the infestation is still active.....

if it is dry rot it can be hugely expensive...

ask a Damp/Infestation firm to go and look and give you a quote....

since you are a FTB who knows nothing about property, seems to me you need a proper survey ... otherwise you are potentially taking a lot of risks -

Fire_Fox

Why haven't you had a full structural survey completed?