please help re valuation

dips_3

I have just got the valulation report from the building society surveyor and don't know what to do from here.

the report values the house at exactly what we offered and was accetped (there's a surprise!!) But, the report also lists a host of problems we were nto expecting. Some sound general such as 'there has been an extension and this should be checked for building regs/planning permission etc' but others are more specific such as "chimney stack repairs are required" and "aspects of the electrical instalation etc give cause for concern"

Does anyone know just how detailed a basic survey is ? Is this normal or is it flagging up genuine problems?

Thanks

mrsc_4

We only had a basic valuation on the proprty we just brought, it is what it says a basis valuation doens't go into any depth just ensures that your mortgage provider will get there money back so to speak.

Our valuation also said 'there has been an extension and this should be checked for building regs/planning permission etc' we were aware the property had been altered and were happy with that. Our solicitor checked that out for us, - in our case there was no building regs or planning permission but the work was done 27 years ago, we do have an indemnity policy now though.

The electrics were also flagged up on ours but again we were not overly worried. These people have to cover themselves at the end of the day.

Basically what you do now is down to you, you can proceed with the purchase, you could have a homebuyers report. I would talk to your solicitor and see what they suggest, is there any reason why you couldn't live in the property and live like the current owners are??

zipwen1

this is normal, if your worried you need to get builders/electricians out to check and do a report on the things listed if i were you i would do this,
we didnt when we bought our first home and we should have becouse we could have got the house much cheaper. for example our report said there could be damp, we didnt get it checked, had to spend 3 grand to have the damp course done, and if we had got it checked out we could have presented this to the buyer with a quote for the work and got him to reduce his asking price