Buyers survey

Boo1986

Does anyone know about selling your survey to another buyer?

We had an offer accepted on a house six months ago. The vendors have been unsuccessful in buying a house themselves. Due to demand in our area and the house prices are rocketting and so they have now put the house back on the market for more that we can afford.

I am sure that I saw in the MSE guide that you can buy a survey from a previous buyer if it was done recently. Does anyone have any experience of selling a survey that they have had to another buyer? I would like info on how to do this.

Thanks

Jaycee_Dove

I would guess that if the market has changed then the valuation in the survey will be inaccurate. So you would have to point that out to any purchaser as they might need an assessment of present value if they require a mortgage for instance.

hcb42

I doubt there is much market in it anyway, if I was buying a house, then saving a couple of hundred quid on a survey wouldnt be my main priority

Jaycee_Dove

On the main theme of this thread, we are buying a house and our survey has revealed some issues (asbestos in a ceiling, damp in a room and possible timber issues resulting from this).


They also valued the house at £4000 less than the price the purchaser requested from us (they would not take a lower offer).


Given the above we contacted the estate agent and explained the situation. They asked to see the survey. Our solicitor considered that entirely reasonable (as did we) given that it would indicate both the problems and valuation difference.


They immediately offered to get an estimate of cost to fix the issues.


I would have imagined that this was the best way to proceed in these sort of circumstances, as it is being fair and respectful to all parties.

bigadaj

Boo1986 wrote: »

Does anyone know about selling your survey to another buyer?

We had an offer accepted on a house six months ago. The vendors have been unsuccessful in buying a house themselves. Due to demand in our area and the house prices are rocketting and so they have now put the house back on the market for more that we can afford.

I am sure that I saw in the MSE guide that you can buy a survey from a previous buyer if it was done recently. Does anyone have any experience of selling a survey that they have had to another buyer? I would like info on how to do this.

Thanks

You can sell the survey but it is of limited use, really only a guide for anyone else but the person who commissioned it. The surveyor won't have any liability to anyone else so it would just be for guidance only.

ReadingTim

perbinder wrote: »

I believe the survey is part of my renegotiating position for a new much lower offer.

Of course you believe that. The EA believes that too and has called your bluff.

Generally speaking, following the results of a survey, you can renegotiate a purchase price by the cost of rectifying the issues identified, to the extent to which they're not already factored into the asking price. Most realistic vendors should accept this, although some might take some pursuading - for example with the full results of the survey, rather than edited highlights.

What vendors and their agents might not accept is a buyer looking to negotiate discount which is significantly larger than the cost of the remedial works, as you're effectively going back on the offer you previously made. Withholding requests to see copies of the survey or attempting to charge the vendor to see a copy of it all might ring alarm bells that the purchaser is trying to achieve this aim, and may cause the vendor to rethink their acceptance of the buyer's offer.

In short, your refusal to share the results of your survey is no more unreasonable than the vendor refusing to go ahead with the sale of the property to you.