Understanding a Home Buyers Report - Are these big problems?

fisttimebuyers

Hi,

We are FTB and buying a mid terrace build in the 1880's but the Home buyers has throw up some major issues:

- Defects in the chimney stack - suggest fixing/removing but would require scaffolding to access.

- Ventilation beneath the timber ground is inadequate and additional air bricks or grills required.

- Evidence of wood-boring beetle infestation to the timber boarded partitioning beneath staircase - likely to have spread. Partly historic, with some recent attack.

- Cellar needs damp-proofing (We knew this needed finishing, its currently just a dirty cellar, but not sure how much work is involved with damp-proofing?)

- Evidence of deflection and distortion to the roof structure. a heavier roof covering has been provided but no obvious strengthening has been undertaken tot he original framework. Strengthen suggested.

- Gas, electricity, central heating & boiler (4yrs old) all flagged for not being serviced in the last 12 months.


Are these major problems? We knew the house needed modernising but we are struggling to understand just how much time/money needs to go into a few of these unexpected issues. The valuation came up ok.

theresa17

The report should have numbers next to the items listed from 1 - 3. 1 not being too important through to 3 which probably needs immediate attention. Lots of surveyors mention every little thing as it covers them from being blamed.

fisttimebuyers

Thanks for your response.

Yes these are just a few that are listed as a '3'... We just don't know whether they should be deal breakers or whether we should expect this level of work in such an old house.

theresa17

You can always get some tradespeople to go along to quote for the works - that way you will know what extra costs are involved.
Most workmen will give free estimates/quotes but always check this with them first. Good luck.

fisttimebuyers

Yes we may have to do that! Seller is pushing for a quick sale but this report had scared us off a bit.

Thanks again

princeofpounds

None of these are deal breakers but several need factoring into the price.

The roof is concerning. Depends what kind of roof work required but anything that involves partial dismantling and rebuilding would be costly.

The beetles too. Depends what type but not all are easy to get rid of.

Ventilation blocks not so hard normally. And often not a problem in reality.

Equipment not being services is not unusual. Not a requirement in an owned dwelling but sensible to do it.

Chimney stacks are often highlighted, they weather quickly. If minor issues, may be years before it needs doing. If major, needs doing soon as a stack falling down can cause proper damage (esp to heads!)

Cellar; many old cellars not proofed. Whether it needs tackling depends a lot on whether it spreads problems to the main house or not. Tanking a cellar is not that cheap.

fisttimebuyers

Thanks for your response.

It's really helpful to us to hear other people advice and experience. I think what has confused us most is that all these things are graded a 3 - needing intention immediately but yet grouping the big issues like damp with silly things like servicing a boiler have thrown us from being able to gage just how big of a problem these things are.

We expected to send a lot of money converting the basement - that's quiet visible in the property but as you say, the chimney, roof and beetle problem could run up high bills.

We also don't know if we should expect this from an old house! It is over 125 years old after all. Just don't want to buy into a money pit.

wannahouse

is the lender going to hold back a retention?

princeofpounds

If they are 3s then they might be at more severe end of a scale. You can phone the surveyor and ask for a chat to elaborate.

fisttimebuyers

No, the bank is happy to go ahead with the full amount.

Yes, someone else suggested that we speak directly with the surveyor as they may give you a bit more of a realistic opinion over the phone and on the form they have to cover themselves against any future problems.

The report suggested 100k+ worth of work needed doing, this includes things we already planned for, but that's a large amount of money so we are going to see if the seller is willing to drop the price.

wannahouse

if they have priced it accordingly, they might not be prepared to drop the price..
if they're things like that that are quite obvious defects, then they may have worked that into their asking price...

we're buying something that needs a LOT of work doing, but knew there wouldn't be any budge room down from the price we had accepted, as it was already very low...(and will be worth alot when we are finished)