Survey/valuation

joanne1971

Hi

I have posted about this before - but only got one response so thought i'd try again.

We really want a house we have offered on. The valuation came back with no probs but as it is an old house decided to have a full survey as well.

The reaction of the estate agent to this was total suprise. which suprised us as we thought having a survey on an old house was what most people did.

Anyway survey come back with issues about cracks and said we needed to get a structual engineer out. So we did this - all at our own expense and causing great annoyance to the estate agent that made it clear they thought that we were being difficult.

Anyway seems the is some structual issues that need sorting - at a cost of approx 10,000. The Engineers report plus our surveyor both state this work has to be done for the valuation price to be accurate.

So do our surveys trump the mortgage valuation? Can we insisit on work done or price reduction.

BUT we really do not want to loose the house and !!!! off the vendor as we know there is a lot of interest. But we could not afford to put things right ourselves without a price reduction.

poppysarah

There's a lot of interest, so let some other poor sucker buy it and do the work.

Your survey should be the basis for asking for a price reduction. BUT if there's more interest then the sellers will just let one of them buy it

Structural might take 10k or might need 20k.Until you start you just can't tell.

Fire_Fox

Why didn't you simply bump your earlier thread? In your shoes I'd revise my offer in writing, citing the structural surveyors report as the reason why. I'd also be inclined to note that you have found the estate agents obstructive in this matter.

Blacksheep1979

Well that's the reason the EA was peeved - they obviously guessed there might be something wrong and that the sale could fall through.

joanne1971

Thanks - putting it in writing sounds like a good idea.

I was thinking they might reduce it as surely most people would have a survey and they would find the same thing. Surveyor was amazed that the valuation report did not pick up on the cracking - have to say when he showed it me it seemed obvious.

The house is probate - so i was also thinking for the vendor it is all just money in their pocket so maybe reduce.

The bumping up thread idea - sorry yes that would have been sensible - new to the online discussion world!

Ditch_Crawler

You don't have to explain how you arrived at your offer price, any more than the vendor has to explain how he/she arrived at an asking price. Either of you can change at any time you choose - the bottom line is, you simply have to agree....

dianah

perhaps someone else had a survey done on this property before you and decided not to buy the house as a result? that could be a reason for the estate agent to be difficult.

it's quite strange though - all the ea's we viewed houses with were perfectly happy for us to have a survey done should we decide to put an offer in.

Cat695

I'm sure the EA will advise to the owner to hang out for some mug to come along who just gets a simple survey done.....

livalicious

We in the middle of a house purchase too, and I rang the vendor's EA to let her know we will be instructing a surveyor next week to do a homebuyers report too. The EA more less said a survey wasnt really necessary as the house is in good nick (house was built in 1930's)and you buy the house as seen! And then added she fully expects us to come back to her with something or other on the report! Eh?

Ditch_Crawler

livalicious wrote: »

The EA more less said a survey wasnt really necessary as the house is in good nick (house was built in 1930's)and you buy the house as seen

You do indeed buy the house as seen, and that's why it's sometimes best to base your offer on the property having been seen by a surveyor who is working for you and you alone...

DC

bigpat

So do our surveys trump the mortgage valuation? Can we insisit on work done or price reduction.

Neither trumps the other and you can't insist on anything (if by "insist" you mean you have a right to it).

Your only right here is the right to take your money elsewhere if you're not happy with the house. Ditch Crawler said above "you simply have to agree". I would add: or you can disagree.

It's your money, it's their house. The question is do you like it ENOUGH to "gamble" the extra £10k