A question about surveys

Chinkle

You can't rely on anything in an old survey and the older it is the less reliable. Don't understand why you can't see the homebuyers report - not heard of that one before.

What does your solicitor say?

jockosjungle

I went with the PO and they sent me a copy of the valuation report. I thought a Hb report was for your benefit and not the lenders, all you've done is give them more ammunition to reject your mortgage and paid for the privelage. I'd definitely put a complaint in

R

giddypenguin

OK, so we should really look at getting another survey done - even though the house is so young, is there anything we should specifically be looking for in a 10 year old house?

archess200

Unless you know anything about building, drainage, electrics, structure, get a survey. Shop around and the quotes vary quite a lot.
I'm an architect and do my own surveys, always picking up far more than any surveyor. I have seen a survey done on my last property, which was ludicrous in the extreme, cost a lost of money and didn't even include a check down the manhole, where there was an obvious problem.

If the house is pristine perfect, then the surveyor would only give you peace of mind. BUT a good surveyor can also save you money by pointing out defects whereby you can negotiate down.
I'm in the process of buying an old property and have found heaps of problems, that a surveyor would pull up: total negotiating tool would be around £30k, but I doubt whether my vendors would be interested.

giddypenguin

archess200 wrote: »

total negotiating tool would be around £30k, but I doubt whether my vendors would be interested.

I'm worried we might be a bit late in the process now for negotiating- we really thought that the mortgage thing would cover us.

madmish00

I don't understand why the bank won't let you see it. The clue is in the title 'Homebuyer's' Report...the bank is not the home buyer, you are!

You need to clarify that this is in fact what you have paid for and if it is I can't see that they have any right whatsoever to hold it back from you. You may find that you have actually been charged only for a valuation and as this is for the bank for lending purposes they would not usually show you this.

giddypenguin

OK, I'll have a check through the paperwork - I think half the problem here is that I'm hearing everything second hand via my other half... Thanks for all the advice.

Just out of interest, if it does turn out to be a home buyers report would we have any 'right' to see it?