Problems discovered in survey- what should I do?

bluedrop

Hi all,
everything was going smoothly until now... the survey was carried out this morning - I had a chance to speak to the surveyor just a few mins ago. This is what he said:

The property doesnt not seem to have any structural problems. However, no upgrading or maintainance was carried out on the property since a long long time. hence

1. There are rotting timbers in the loft. This needs to be addressed

2. Boiler is very old and it needs to be replaced.

3. Wiring has not been updated. The existing fuse box is very dated and is potentially unsafe.

what should I do now? We really like the property but we are already paying top price for it. We had the estimates in for a new kitchen, new bathroom and new flooring and it is around the same as what we thought it would cost us. We set aside some money for the moving, stamp duty, solicitor fees and other initial incidental expenses. But thats all we've got.

How to re-negotiate the price after the survery? how much is reasonable ? Full cost of having the roof repaired or a contribution? Please share your experiences...

I dont have the full report in my hand yet. But I am so worried already!!

BitterAndTwisted

Get all three costed up by contractors and reduce your offer by those prices. 2 & 3 aren't particularly worrisome but 1 could be a deal-breaker for almost anyone as that's not going to be a cheap job if we're talking about the loft/roof-space because the whole roof may have to come off to do the job.

artbaron

The boiler won't need replacing unless there's a problem with it. It being old can't be used as a reason to reduce your offer, or rather it can but don't expect success. Same with the fuse box, there's a difference between unsafe and 'not to current standards'. If it all works then you've no real leverage for a price reduction.

bluedrop

artbaron wrote: »

The boiler won't need replacing unless there's a problem with it. It being old can't be used as a reason to reduce your offer, or rather it can but don't expect success. Same with the fuse box, there's a difference between unsafe and 'not to current standards'. If it all works then you've no real leverage for a price reduction.

I am more worried about the loft timbers issue really.

Yes, the boiler and the electrics work. But we were told by the EA that the boiler is 4yrs old...

Also, with the money we have to put into this house, we get much better properties in the area.

artbaron

bluedrop wrote: »

I am more worried about the loft timbers issue really.

Yes, the boiler and the electrics work. But we were told by the EA that the boiler is 4yrs old...

That's new, not old. The boiler in the house I just bought is 18 years old and I expect it to last another 5 years at least.

bluedrop

artbaron wrote: »

That's new, not old. The boiler in the house I just bought is 18 years old and I expect it to last another 5 years at least.

Exactly.... But the surveyor says its very very old. The EA must have lied

bclark

The Boiler and electrics comment seem to be the same comments in most surveys where in fact they are just covering themselves because they aren't experts.

To me the only concern would be the loft. How rotten, which bits? These are the questions you need to get the answer to before worrying abour anything.

DRP

bluedrop wrote: »

Exactly.... But the surveyor says its very very old. The EA must have lied

What does 'very very old' even mean?

Find out the model and see if it is still in use - British Gas always used to warn us that the parts for our old (~20 year) boiler were not being made these days, but they said that every year for 6 years.


Probably more important is to find out if it has been serviced regularly. Ask for copies of the service invoice/results.

SG27

bluedrop wrote: »

I am more worried about the loft timbers issue really.

Yes, the boiler and the electrics work. But we were told by the EA that the boiler is 4yrs old...

Also, with the money we have to put into this house, we get much better properties in the area.

Maybe go for one of the much better houses? Or reduce your offer then look elsewhere if they refuse?