What Next?, House Buying Nightmare

CashStrappedTeen89

Currently in the process of buying a house, story so far we had viewings, had some good chats with owner made an offer which was accepted and we are at the point of a Surveyor which has just been done and the report delivered to me.

Now we know the electrics needed replacing, the heating possibly and the house needs full re-decoration.

Now the survey has found, possible drainage issues as the drains where blocked on his arrival he has advised inspection.

The roof doesn't have adequate ventilation and he thinks its currently under to much load which has pushed the front wall out causing a bulge both have been advised for a specialist to assess.

Rising damp has been found on the back wall which has already rotted some of the floor joists, downstairs is a combination of concrete and joists, he also advised with the concrete floor it may not have dam proofing although a damp course has been found as something else damp proofing (will refer to the report in the morning).

Possible asbestos in the kitchen ceiling and lead paint on some of the walls.

The rest is smaller stuff like bricks needing replacement and pointing ect (unless I've missed anything).

Not exactly sure what to do from here, cant discuss it with my partner until she's back Sunday, i suppose I'm just asking for similar experiences, costings?, idea's. We love the house but this is just a lot to take in.

googler

Bulging wall would be the deal breaker for me.

What next? Find another house in better shape than this one.

Mickygg

Wow that is a lot. I would walk away. I have current damp issues in my new home which is making me tear my hair out! Let alone all your other issues.Unless you wanted a full renovation project of course.

Fire_Fox

Sounds like a moneypit, walk away.

Davesnave

These are issues which might be acceptable with a house in a unique situation, or with some other exceptional feature, such as a good amount of land, but even then, it would have to come in at the right price.

If this is just a nice but tired property, with no special feature that leaps out - and you've not mentioned one - then it looks like a lot of bother, even at a good price.

go_cat

Definitely walk away unless you have the money time and experience to deal with all these issues ... If you continue you need to calculate how much it is going to cost you and reduce your offer to reflect this.

kingstreet

It sounds like you'll need a structural engineer's report before you do anything else.

Find one here;-

http://www.findanengineer.com/

TBH unless you've got the money to bridge a retention in the mortgage I'd consider finding something else. If you've only got 10% deposit I believe you're unlikely to be able to purchase this property and any further expense is potentially wasted money.

jc808

put in a dirt cheap offer or walk away

jbainbridge

This is why you pay for a survey ... I think I'd find a less complicated property!

CashStrappedTeen89

Thanks, the more i read over the report the more i lean towards backing out.
I think i'm going to discuss it with the partner and go from there, think ultimately its going to be a dirt cheap offer or we will just walk away, the owners already have the house there moving to and anyone with common sense would do a survey like we did so its not like its going to sell quick.

Fire_Fox

Even if you buy the house for cheap you will have a retention so will need to stump up extra cash to complete, then more to do the works before your lender releases the remainder of the loan.