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Building survey in, any thoughts please
mrstick
Posts: 84 Forumite
Hi all,
We've just had our building survey back for a house that we are buying.
It looks pretty good and what we were expecting apart from an issue with the kitchen floor.
The floor is suspended timber and has dropped in one corner.
The surveyor suspects that it is rot due to a lack of ventilation to the sub-floor void and advises an intrusive investigation.
The cost for the investigation is estimated at around £250, and the estimated budget cost for repairs £2500. There is also an estimated cost for adding 5 air bricks around the ground floor of £250.
Everything else on the survey is really things that we expected such as blown sealed units and a fairly creaky front porch.
The market valuation has been reported at £140k on a property that we have offered £142.5k.
I should note that this is a survey that we paid for and the lender will be performing a basic valuation at some point (I have another posts about those woes!).
Is it worth trying to negotiate a reduction in the price now, wait to see whether the mortgage valuation returns at a similar value or just carry on?
It took us a few offers on the property before we had one accepted, mainly because there were multiple family members involved is selling of their deceased parents property. This makes me think that we might struggle to get any sort of reduction.
Any thoughts appreciated,
Thanks.
We've just had our building survey back for a house that we are buying.
It looks pretty good and what we were expecting apart from an issue with the kitchen floor.
The floor is suspended timber and has dropped in one corner.
The surveyor suspects that it is rot due to a lack of ventilation to the sub-floor void and advises an intrusive investigation.
The cost for the investigation is estimated at around £250, and the estimated budget cost for repairs £2500. There is also an estimated cost for adding 5 air bricks around the ground floor of £250.
Everything else on the survey is really things that we expected such as blown sealed units and a fairly creaky front porch.
The market valuation has been reported at £140k on a property that we have offered £142.5k.
I should note that this is a survey that we paid for and the lender will be performing a basic valuation at some point (I have another posts about those woes!).
Is it worth trying to negotiate a reduction in the price now, wait to see whether the mortgage valuation returns at a similar value or just carry on?
It took us a few offers on the property before we had one accepted, mainly because there were multiple family members involved is selling of their deceased parents property. This makes me think that we might struggle to get any sort of reduction.
Any thoughts appreciated,
Thanks.
0
Comments
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Depends on how greedy the family are.
How quickly to properties sell in the area.
Personally, I would wait to see what the lender comes up with.I am a LandLord,(under review) so there!:p0 -
Thanks, this is what we were thinking.
Most houses around the area are up for a couple of weeks tops at the moment, so I think that we were lucky to get this one tbh.0 -
Be a bit wary of this. Lack of air bricks plus a subsiding floor could mean extensive rot. Don't gamble on this; have it looked at.
Our first house had the same problem (not spotted by the surveyor, who rapidly returned the survey fee) and we spent the first months in our new house taking up the floor and putting in new joists and floorboards.Je suis sabot...0
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