Who's responsible to pay for this full servey.

oldcarpenter

:mad:My banks valuation/survey paid by me said, ‘The property is in good condition for lending purposes. The property has suffered historical movement with no evidence to suggest it’s ongoing.’ With this glowing report I then spend nearly one thousand pounds on a further full survey. I’ll spare the sordid details but came back saying the property was unsafe and needed major work to the foundations. ( an insurance solution was discussed in forum yesterday under insurance, It seems wrong but will the insurance pay out, ) I have decided not to purchase because I can see a legal minefield on the horizon. Can I claim the cost of this second survey from the banks valuation/survey ?
Had no mention of previous movement been in the valuation/survey then I believe I would have no claim, but it was and most property of nearly 200 years old would have some movement. The wording suggests both myself and the bank have nothing to be worried about with this historical movement, had it just stated the property had suffered previous movement then I would have walked away without spending further money.

G_M

oldcarpenter wrote: »

:mad:My banks valuation/survey paid by me said, ......

Can I claim the cost of this second survey from the banks valuation/survey ?
.

Was this a valuation or a survey? I'm guessing it was the lender's valuation. Although the cost of this was borne by you, it was contracted by the lender, and was for their benefit, not yours. Some lenders choose to share the contents with the customer/borrower, some don't.

However you have no contractual link with the surveyor who wrote it and cannot claim the cost back.

The full survey you arranged was contractually between you and the surveyor. You paid for a survey, you received one. You cannot claim the cost back.

Your only possibility would be to make a request to the lender, stating that you wasted money on the basis of their Valuation, and they may take pity on you.

But don't hold out too much hope....

oldcarpenter

I received below email this morning from lawyer friend.
Although it may have been a valuation report, the claim could be made in negligence (rather than breach of contract) and it may be a good claim if the evidence shows that the report writer assumed responsibility to the purchaser and it was relied on by the purchaser.

jjlandlord

You had a full survey carried out to check the property and it helped you made a decision. So all good.
The fact that you had this further survey also shows that you did not rely on it (which you should not have in any case). Your lawyer friend seems to suggest that this means any claim would be weak.

ILW

All the first survey did was indicate that the bank would lend you the money, which they would have done, so no come back.