Dry rot problem-help needed!

Eems121

Hi guys,

Myself and my boyf are FTBs and have found the perfect house. It is a reposession and was originally on the market for £190k. When we were viewing, there was some noticable give in the hallway floorboards and the EA told us that the Asset Mgmt company were having it investigated.

The house is now back on the market at £180k and the EA has given us a copy of the Damp & Timber report. It has found an outbreak of dry-rot in the hallway and also rising damp on a number of walls. The report says that the treatment of the problems will cost £4500 + VAT (plus £750 + VAT for re-plastering, should that be deemed necessary)

My concern is the number of caveats in the report, eg "we are reasonably confident we have identified all areas infected, however cannot guarantee that it has not spread to areas we havent checked".The EA says that they just do this to cover their own backs, however Im dubious. Im afraid that if we take on the house, the work needed could be much more extensive than the report indicates and we will be massively out of pocket.

The EA has said that the Asset Mgmt company will carry out the work if we want, but they will then increase the asking price to £190 ie what it was before a problem was discovered.

Has anybody any experience with this? What would you do? Is it very likely that the dry-rot has indeed spread beyond the area that they say it is only in? Should we put in a very low offer and say we will do the work ourselves, or get the Asset Mgnt company to do it so they take all the risks, but then pay over the odds for the house?

Any advice would be appreciated.

Thanks

maninthestreet

Dry rot is serious - it actively seeks out timber in the property.
Without taking up floor coverings and floorboards to check, it's not possible to determine the full extent of the dry rot problem.

googler

It's not the 'perfect' house anymore.

I wouldn't buy it for original asking price less estimated costs. I'd offer less if I was offering, but at the end of the day, I wouldn't buy having had this identified.

There'll be another perfect house along soon, I'm sure.....

clutton_2

dry rot can creep through concrete as well as timber, and it is almost impossible to guage where it has spread to until the work starts.... it might also mean that you have a retention put on your mortgage offer when your lender sees this in the survey report - which means you may have to borrow the money and do the work before the lender releases all of the mortgage money to you...

if i REALLY really really wanted this house i would get them to do the work - so any over-run on budget is theirs not yours.....

richard greenland is an excellent builder / consultant property troubleshooter who can advise on dry rot - he loves it !!! google him...

Eems121

Thanks for the advice guys, I appreciate it.

kapil10387

clutton wrote: »

dry rot can creep through concrete as well as timber, and it is almost impossible to guage where it has spread to until the work starts.... it might also mean that you have a retention put on your mortgage offer when your lender sees this in the survey report - which means you may have to borrow the money and do the work before the lender releases all of the mortgage money to you...

if i REALLY really really wanted this house i would get them to do the work - so any over-run on budget is theirs not yours.....

richard greenland is an excellent builder / consultant property troubleshooter who can advise on dry rot - he loves it !!! google him...

Hi! i would like to appreciate the views of clutton in this topic and i do agree a lot with him.i think that this is a better way to handle this. You should opt the way that clutton have told you.