* Full structural survey results are in* Advice please

ixwood

Market rising? Where and for how long? Hold tight for 6 months and it'll be a buyers market IMO.

I'd personally be wary of rendered houses myself. My mate brought one and he's had a few problems with the rendering and damp issues in a few months. WHat was it for? Just to look "good"?

ixwood

I didn't realise the london marlet was still so hot (but did assume it was there, or NI). Surely it's going to calm down when interest rates start biting. Or are all the wan.. bankers really that rich at the mo as to make IR irrelvant?

Doozergirl

I'd draw your attention to the words 'have been' in my last post. :rolleyes: has been a good while since the offer went in now.

My thoughts are mostly that she might be letting quite a good place go. I was offering you the other side of the story that just because the vendor won't drop doesn't necessarily mean it's an entirely good thing to walk away. This one, in particular, is not a simple decision to make and my comments are based on having read through her story. I feel disappointed for her.

The OP is looking for long term home for her family. It's hard for her to find something that fits the bill for the budget and this house appears to be frightening because she's forked out on a full structural survey which not many people do. It is a big deal for a complete lay person to read through a survey and I'm personally not surprised that she wants to pull out but disappointed because many, many period properties are going to read that way.

It's not a simple game of "Oh, I'll wait for prices to drop" when you desperately want somewhere to be yours, where you can bring your children up safely. The flippant comments made by many posters all over this board just shows their complete lack of empathy.

mr.broderick

Totally agree with doozer, you get a structural survey...prepare to be frightened... That report wouldn't put me off..seems pretty standard stuff. Don't think a fifteen hundred quid retention is anything to write home about

ixwood

Ah I see. I'm with you now. The price that was agreed was still good considering. Sorry, my bad.

In terms of the hom ething and lack of empathy, Well yeah maybe, but equally, would she be happy in a years time if she happened to be in negative eqauity, struggling, paying a lot more than she started off, AND then seeing other dream homes cheaper and more affordable?

It's a personal call on the bubble/cycle/economy/IRs etc, but should be taken into considertaion IMO.

It could turn out, this could be the best thing that's ever happened to her. Sometimes things happen for a reason.

ixwood

Seems like a lot of smart money is getting out of property atm to me. Although I'll happily admit i'm no propery expert.

Doozergirl

ixwood, have you read through the OPs posts on the house buying process - she's virtually written a book on it and she's also asked many, many questions. She is being very responsible.

A lot of smart money has ben getting out of property for a long time now. And a lot of people still need homes.

ixwood

No, just this thread which was mostly surevy stuff. My bad for not knowing, finding and reading her other threads 1st.

Well yeah, people have been saying it for a long time, but that doesn't mean it's never going to happen. Just makes the decision harder. There's not much doubt that things will go pop at some point.

And also when people where saying it before, IR were still low, they're not now. And show no sign of stopping. As you'll well know, IR directly affect house prices, as it affects afordability.

My take on the survey is that fair enough, it might be normal stuff to be expected, but she clearly didn't expect it. Damp, dodgy flat roof, suspect floor (that someone else posted had to pay 6k for similar), crumbling render. It's not good and it's not going to be cheap. If the rise was enough to cover it, it'd help, but I would expect my offers to take this stuff into consideration.

And we're not all property magnets, with our own teams fo builders. That work would be a lot more overwhelming, expensive and hassle to a normal person that has to run the cowboy tradesman gauntlet.

Doozergirl

There isn't actually that much work to be done, that's the point! It is reading far worse than it will be in reality.

I'm not interested in turning this into a house price debate. I know my way around the politicws thanks, but nobody knows what will happen and where. So no-one can talk with any authority about it.

ixwood

Ok, fair enough. It's all irrelevant now anyway.

Good luck OP. I've got a gut feeling you'll look back on this and be grateful.