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Shared Ownership house survey results, Help!
cocoblu
Posts: 5 Forumite
Husband and I are in the process of a buying a shared ownership resale property, It is a 3 bed terrace and we are buying a 50% share at £69950 so total value is £139900. Survey has come back to say property is only worth £132000. In 2014, 5 houses sold on the same road from £106950 in Feb 2014 to 122,500 in August 2014. The house has been finished to a high standard and I accept we will pay a premium for that but £17k does seem OTT!.
The survey also identifed the following;
The rainwater goods appeared in satisfactory condition. However, the front rainwater downpipe discharges water on to the ground next to the building. This can cause localised flooding. Improve the rainwater disposal.
The external surfaces appear to be in satisfactory condition for their age. However, few bricks are spalling on the rear wing. Minor repointing is required to the rear wing.
However, the front and middle bedrooms double glazing has failed and misted over.
The roof is not ventilated. Ventilate the roof space to reduce the risk of
condensation.
The fireplaces have been sealed but have not been ventilated. We recorded positive damp meter readings in kitchen chimney breast, possibly caused by internal condensation. Ventilate sealed fireplaces to prevent internal condensation.
Can anyone give me a idea of the ballbark figure of getting these things addressed and the seriousness of them or is it just a case of the surveyor covering his back?
Do i go back to the estate agent and say that we are only prepared to pay £66000 for a 50% share and leave it at that? My concern is the housing association - would we need to appeal to them re: the value as well, I dont really know what to do for the best and any pointers would be most appreciated!
The survey also identifed the following;
The rainwater goods appeared in satisfactory condition. However, the front rainwater downpipe discharges water on to the ground next to the building. This can cause localised flooding. Improve the rainwater disposal.
The external surfaces appear to be in satisfactory condition for their age. However, few bricks are spalling on the rear wing. Minor repointing is required to the rear wing.
However, the front and middle bedrooms double glazing has failed and misted over.
The roof is not ventilated. Ventilate the roof space to reduce the risk of
condensation.
The fireplaces have been sealed but have not been ventilated. We recorded positive damp meter readings in kitchen chimney breast, possibly caused by internal condensation. Ventilate sealed fireplaces to prevent internal condensation.
Can anyone give me a idea of the ballbark figure of getting these things addressed and the seriousness of them or is it just a case of the surveyor covering his back?
Do i go back to the estate agent and say that we are only prepared to pay £66000 for a 50% share and leave it at that? My concern is the housing association - would we need to appeal to them re: the value as well, I dont really know what to do for the best and any pointers would be most appreciated!
0
Comments
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Two new windows rather than replace just the glass (due to age) lets say £1000 rounded up.
A days work for a roofer and ask him to do the chimney vents top and bottom at the same time say £500.
Yes tell the EA that you are only prepared to pay 50% of £132k. Then sit back with your best poker face and let them sweat it out for a week.0
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