Advice for seller - damp and woodworm on survey.. is this a deal breaker

SG27 · 19 June 2013 at 8:48PM

bells_on_it wrote: »

In terms of the mortgage offer we were advised last Thursday by our estate agent that they had the mortgage in place so unless that's not true the mortgage company aren't worried.

Just don't understand why they've take so long to flag this issue when the survey was done 3 weeks ago? We hadn't even found a house then. And now we've just spent 200 on our mortgage application which isn't refundable.

I hope its not active - the surveyor really didn't think we had anything to worry about so fingers crossed we don't. They're coming Saturday so at least its only a few days of worrying before we have an idea where we stand. This house buying process is not at all enjoyable!

The mortgage offer may be there but that doesn't gaurantee they will release the funds. Even if the mortgage valuer was happy if subsequent surveys bring up damp or timber issues then the buyers solicitor will inform the lender who will then possibly withhold funds or not lend at all! That's what nearly happened to us.

bells_on_it · 19 June 2013 at 9:16PM

This is great advice / help its reassured me that this isn't a complete nightmare and hopefully its not a huge problem to remedy. Your explanations sound very much like the surveyor was talking so its given me a bit more confidence. I think inevitably I'm going to have to fund a damp & timber specialist somehow and it might cost me something to remedy. I guess I have to understand what the buyers are hoping for. Hopefully they're reasonable with their requests.

hcb42 · 19 June 2013 at 9:24PM

was it valued at your £130K (or £127K?) in its current condition?

If so I wouldnt budge necessarily, it certainly wouldnt put me off, and indeed i think it came up when I sold last

I had someone round once who stared at my roof on my extremely tall three storey Victorian house (which I just sold!) and said the entire roof needed replacing and he would need to knock £45K off! Absolute nonsense, but you might get the same or similar tactics from the Dad..

bells_on_it · 19 June 2013 at 10:44PM

It was valued at 140 in its current condition.
Wow 45k I don't think I'd have the guts! I hope it doesn't become like that where they start really asking for lots off as we really can't afford it, our equity just about covers the deposit so anything less means we can't afford our deposit!
We're hoping again to buy a Victorian or is it Georgian house in 1905

we've viewed it and are absolutely comfortable about the condition and if damp or woodworm came back it wouldn't put me off - just spent 8 years in an old house and I love them! Theyre solid and have character! Makes me laugh when epc comes back with e rating when my house is so warm that I don't have to use heating for 6 months of the year...