FTB survey back

The_Realist

Hi all, we have got our survey back for a house where we got an offer accepted for 149k (asking price 160k) which we think is good value. 3 bed detached in a nice area.

Main summary was:
"This property is considered to be a reasonable proposition for purchase at a price of £149,000 provided that you are prepared to accept the cost and inconvenience of dealing with the various repair/improvement works reported. These deficiencies are common in properties of this age"

My only concern is:
"There are signs that the property has been affected by past structural movement as evidenced by cracking to wall surfaces. So far as I can see from this single inspection tge movements appears to be long standing. I would not accept it to be progressive, beyond acceptable tolerances"

Would the best step to be to discuss this with our solicitor. Any thoughts on this?

Thanks

The_Realist

Would this be a major worry? Otherwise I am pretty happy to go ahead.

Not worried about potential slight drop in prices, not buying as an investment, could well be here for 10 years then upgrade hopefully (see how thing are going in life in general!)

lee636

Is it possible to get a trusted builder or crack specialist to give it another going over? Are there trees nearby? Money well spent if it turns out serious, money well spent for your peace of mind.

seraphin_2

What age is the house ? mine is over 100 yrs old and it showed up in a survey (from morgage) that it needed investigating, infact to read the report looked like it was about to fall down !!

Anyway i paid for a structural survey and he was happy it was long standing movement that was initial settlement. my point is if its serious it will cost you £1000 and £1000 of pounds to sort out, so i personally would state to the buyer your going to have a full structural survey done for your own piece of mind, maybe the seller will pay towards it, esp if you say your not procedding without one.

It may cost you £400 ish pounds depending where you are but it would put your mind at rest if nothing else to get in checked out, also it may throw some more things up as well that need doing, and you can re-neg the price ?

john_white

Obviously this is an older property that needs some work which would have been evident at the time of viewing. The qualified surveyor has stated he's not concerned by the crack.

To get any money off/contributions the vendor will likely want evidence I.e. the survey which will state the price is fair for the condition of property.

Not sure what your solicitor will do - he'll most likely reiterate that after exchange you have no recourse so if you want further surveys then you must do it before exchange.