EEK! The surveys reporting urgent problems

G_M

The question is, when do you know when to walk away...?

When the extra costs either are too expensive for you to pay, or mean the property is significantly above market value, given its condition.

I'm not really knowledgable about asbestos, but I'd be surprised if a vendor had an obligation to determine whether asbestos was present. If he KNOWS it's present, clearly he should declare it if asked, but most likely he'd say ' not so far as I know', and as a non expert would not be expected to know for sure. I may be wrong of course - perhaps there is some 'asbestos act' requiring vendors to get their own specialist analysis before selling?(like a HIP? :rotfl:)

MobileSaver

ellewellyn wrote: »

but are all surveys overly depressing and make out that problems are worse than they really are?

The simple answer is yes, all surveys make for very glooming reading particularly if you are a FTB.

The surveyors have a duty to report every last little problem and will invariably report worst case scenario. If they didn't then in the tiny number of cases where there is a problem in the future everyone would sue the surveyor for not warning them.

Other than finding out what is causing the damp, none of the things you list sound particularly urgent to me and certainly wouldn't be worth losing your dream home over.

Henry_P_Chester

LittleMissAspie wrote: »

It would be suicidal to increase it with a period of notice, as this would cause a large amount of BTL property to be dumped into the market. It would most likely take effect within 1 or 2 days of the budget.

It's highly unlikely that the increase will be immediate. To alter CGT half way through a tax year is extremely complex. It would most likely be introduced as off 1st April 2011.

ellewellyn

ooh this is all surprisingly reassuring. So potentially CGT might not zoom up on June 23rd, and perhaps the damp etc issues are not as bad news as originally thought!

The problem is now, I have no idea what I need to do in order to exchange by Tuesday, if we can do that! The solicitor has stopped answering emails so a rather strongly worded phone call will need to be made tomorrow morning! What are the next steps? We have mortgage in place, solictor, insurance, etc etc....

Oh I do hope this is easier next time round...

RX-78

I was in a similar shoes not too long ago before the election. I was worried about political change & lenders pulling out the mortgage, buyers deciding they cant risk in buying if unfavourable government was elected etc. It came to nothing - banks didn't flinch, buyer didn't pull out and the house was still standing.

So dont let the seller bully you - he wouldn't want you pulling out as much as you wouldn't want to loose the house. But it might be a good idea to communicate via EA your concerns and the need for time to get damp survey done?

David_Aldred

Hi,
Sounds like you are being pushed along a bit when really you need thorough inspections undertaken that include quotations as necessary for you to make a balanced decision upon the matter before you commit to buy at an agreed price which may need re-negotiation.

This is the biggest purchase of your life so don't be bullied along and take time to get it right as there is nothing worse than discovering you have bought a lemon as things come to light once you have signed on the dotted line. Whilst your friend the builder may have had a casual look at things there is the potential for many problems as highlighted by your surveyor that will only come to light with a thorough opening up and metering of the property and these all need to be allowed for in your purchase negotiations to prevent you suffering a loss.

Sorry if this is a bit doom and gloom but better to take such a view until proved otherwise unless you have a large contingency fund you don't mind spending. Kindest regards David Aldred Independent damp and timber surveyor