Survey done- now what?

chardhouse

Hi guys,

Things are ticking over after a very slow start to our buying process.
We had a full structural survey done on the Victorian mid terrace we are hoping to buy.
It flagged up most of what WE were expecting- groundfloor damp, electrics need looking at (pretty much rewiring), re-pointing required, firewall etc, and a few others we weren't- ground floor air vents need installing, blocked fireplace needs venting, pointing on chimney stack (scaffolding- boo)
The estimated cost is 3k although no rentention has been placed on the mortgage- I suppose as it's for 75% of the property purchase price.

After reading a few posts here it seems quite standard for surveyors to value the property at the amount offered, minus the estimated cost of work needed. When the work is done- voila- it's now worth what we offered.

The surveyor has recommended that we get a report and quote from Damp and Timber specialist (BWPDA)
The lean-to kitchen has problems with decaying roof timbers.

I could go on and on.
My question is who can I speak to who doesn't have a vested interest in things proceeding one way or another.
EA will say don't worry- solicitor will drag it out- builders will say get the work done.

I've no idea if this should affect my offer- there seems like a lot that I have to do before exchange- inspect under carpets, get quotes, gain access to kitchen roofspace (it was painted shut)

Any honest advice?
Past threads have varied depending on situations- if it's the buyer posting there's a lot of "reduce your offer" or "split the cost" and if it's the vendor there's a "don't move an inch" attitude.

We don't have heaps of cash after the prospective move as we have budgeted for GCH to be installed after completion. That wipes us out.

The vendor was asking 165k (top money) and held out for 163k- she had stalled on £500 less from another buyer for a week so I'm thinking she may be reluctant to contribute.
We want the property- we just don't want to be fleeced as we have already offered top money to get to this stage.

Is this a lot of work or is this normal?

Sorry for the long post.

benood

Why don't you give the surveyor a call - he might be prepared to talk about the urgency of the works more freely than he would on paper. Ask him if it's a lot of money or normal (might not answer but no harm in asking).

Do you think there's anyone else out there who wants to pay top dollar? If not then you could try and press for a reduction for some of the work - if she want's to move before christmas you've more chance.