Survey Advice Please

whackham

We are in the process of buying a detached property aged about 25 years. We have just had the valuation/basic survey which our mortgage lender arranged. Due to the age of the property and advice of a couple estate agents / mortgage broker that a basic survey would be suffice due to the property age. We decided to wait the results before deciding if we should go ahead with the Homebuyers survey.

The survey arrived this morning noting the following:

The property is in acceptable conditions for lending. Valuation reflects the fact that there is some wear and tear to some items and that maintenance , repair or upgrading will be required. (We are ok with this part)

The property has suffered previous movement but I saw no evidence to suggest this is ongoing. (This I'm not sure on do you think we should have this investigated further?)

Aspects of the electrical installation give cause for concern and you should obtain specialist advice. (Again I'm not too concerned about this as I know the surveyor is not qualified in electrics, plus we have a electrician in the family)

I'm really just after what your thoughts are if this report would concern you to require further investigation or not.

Thanks in advance

Jackie.

G_M

A mortgage Valuation is not a survey. In fact you've got more info than usual.

From what you've got, I'd either

* get an electrical report done or
* ask your familiy electrician to take a look or
* asume the electrics will need updating and your relative will do it for you after you've Completed.

Rambosmum

Is this valuation the only survey you've had? If so then you need to get a proper survey done (independent, don't g through the bank or estate agent).

Hoploz

If you're concerned then have the survey, although I would probably just go and have a good look myself to identify the clues he has picked up on and assess them for myself. Can you ask any more detail, eg whereabouts in the property, internal/external/which walls etc?

The electrics I'd get the known electrician in when I moved in to give the once over. You could do it beforehand, it depends whether you're planning to try and get money off or you're happy to go ahead with the agreed deal. Electrics are rarely in a state unable to be improved - standards change all the time! 25 years old the main system itself can't be that bad unless a DIY-er has been fiddling or something.

whackham

Thanks guys for your input, it is very much appreciated. I've spoken with the agent to try and establish some more info from the seller, the house is currently empty as the lady unfortunately passed away and her son who only lives 2 doors away is selling the property. Plus we are due the mortgage offer any day now so we will wait until that has been confirmed before paying out for a further survey to check on the movement.
Thanks again
Jackie

Chanes

Our house is 25 years old too and we had the home buyers report and the only 3 on it was to fix a gutter pipe. It was a peace of mind reason to get the report but it told us nothing we could not work out for ourselves (ageing fascia soffits etc showing signs of going soft being the harshest cooment)

kleapatra

The house I'm in the midst of buying is also 25 years old - 1990 must have been a big year for house building! I just went with the mortgage valuation - I'm really not convinced a homebuyers is worth the paper its written on - full of non-committal statements and get out clauses.