Rentokil &Valuation Survey

Woolyback

I've had mortgage approved on a property for £55k I'm in east Cleveland where property really is that cheap or cheaper! House on inspection was nice but frayed which suited me. However mortgage valuation survey said it needed extensive work and valued it at £45k going up to £55k when work was done.main problem was damp
I had Rentokil survey it and they said it was in a bad state. Woodworm evident in first and second floor fungal decay to majority of floor joists.To repair it would be £1k for woodworm removal and after I had got someone else to remove the bar (yes there is a bar in the living room :j) kitchen units cladding and radiators the cost would be £11 k!!! Other defects they have noted are: defective rear porch spelled brickwork possible defective gutters and downpipes decayed external joinery items slipped roof tiles leaking lead pipe in basement which aren't covered by quotes. Gulp what do I do? I knew it needed a bit of work but not this much.
Can anyone advise please?

csgohan4

Either walk away or get the price reduced with a copy of the survey.

G_M

When did rentakill start doing surveys?
Was it a qualified RICS surveyor who came?
Did you pay for this survey, or was it actually a free sales 'survey'?

If the house is really as bad as you say, then either walk away or get some builders in to quote for doing each job, work out exactly how much i will really cost, and then decide if the house is worth it and you are prepared to put it right.

ut first answer the Qs above......

Woolyback

Thanks for the replies. I originally had the free house valuation which valued it at £45k but this would go up to £55 on completion of work. They advised a damp expert to take a look and that's where Rentokil come in. Survey was paid for. I've got a builder going to look at it today but to be honest it's not looking good. Shame as its a nice location with huge cellar and lots of space.

G_M

You have not answered the question:

In relation to rentokil:

Did you pay for this survey, or was it actually a free sales 'survey'?

and even if you paid rentikil for it I would not trust their survey: they provide damp proofing services so clearly will have a vested interest in finding.......damp problems.

Woolyback

Hi yes I paid for the rentokil survey which I answered above. Sadly the builder agreed with their assessment. The nice new wooden cladding his a multitude of sins as did the laminate flooring.
It had been a month since I saw it and it had got damper in that time. Oh well you live and learn.