CPC Lighting Circuit / Valuation Help

27col

The property is worth what someone will pay for it and what the owner will take for it. A surveyors valuation is only an indication or opinion of the level of that value. The final decision is between the seller and the purchaser.

ormus

but the mortgage lender will only use that figure and not yours.
so if they are lending say 40%, you will have to find some more money.

paulpud

timbo58 wrote: »

a) I am unsure IF the entire lighting circuit has no earth at all whether an RCD would actually work (and therefore should it not have been noticed when this was fitted?) -I thought these worked as ELCB -Earth leakage circuit breakers?

RCDs are not dependant on the presence of a cpc for their operation so they will still trip in the event of leakage to the general mass of earth

The_Bag

The property came on the Market in September for £174,950 in November it was reduced to £169,950, & again at the end of January it was reduced again to £164,950. My first offer off £156k was rejected but my second offer of £158k was accepted.

The estate agent called me on the day my surveyor had made his booking to survey the property but they apparently had a big fall out over getting access to the property. Apparently my surveyor wanted the phone number of the vendor as they couldn't 100% say if the vendor would be at home when the surveyor arrived but the estate agent had refused to give it him. I'm wandering if the surveyor is trying to get his own back on the estate agent by giving me a reduced valuation on the property?? Some how I don't think they will accept £153k??

The_Bag

The surveyors report stated that there were no serious defects (Red 3) but other defects that need repairing or replacing but are not serious or urgent (Amber 2) were:
1. Felt roofs not inspected but have limited life (7-15 years) but no signs of leaking.
2. Central heating boiler & flue. About 30 years old so has limited life expectancy.
3. Electrical system. Apart from consumer box having been changed the electrical system is the original to when the house was new (approx 40+ years old) No signs of earth wire to lighting system or earth bonding.
4. Garage. (detached sectional concrete block) In poor order with a tilt to the left, suffering from damp as the asbestos cement roof leaks & the rear wall is supporting earth. The garage is time expired.