Survey result: problem!!

chaoclive

So, just got the Colleys report and there's a long list of issues
-'wood boring insects' on the stairs
-penetrating damp in the ground floor; some areas of affected plaster may require to be replaced/repaired.
-damp ingress close to the chimney stack; due to some lead flashings missing
-moss on roof slopes should be removed
-no evidence of defects of flat roof, but this will need replaced at some time in the future
-redundant flues should be capped to stop condensation problems developing
-electrics may not comply with current regulations and need updating. (I don't think this mean a complete rewire; probably more to do with updating the circuit box, as it's an old house)

Also, of concern is: the back extension was built over the main sewer line. I don't know if planning permission was given or not. I guess this is something that my solicitor will have to check.

Any ideas about costs of the above? Does it sound like a big job? Might it be worth forgetting it?

I have spoken to the Estate Agent and asked her to talk to the seller. I'm still waiting on a response...not holding my breath. I doubt that the owner will drop the price by enough to cover the above!

Thanks a lot for any insight!
CC

banks4u

Ouch and the lender is happy to lend?

chaoclive

That's the strange thing banks4u. The valuation part of the survey came back at exactly what I had agreed for the property.

I'm wondering if the report is perhaps painting the worst case scenario? If the seller will decrease the price to cover the bulk of the work, would I still be wise to go ahead?

I've heard that woodworm shouldn't be a major issue to get rid of and that a damp/timber survey will give me a guide as to the costs before I commit to anything. I might get Rentokill involved to check things out (even though their survey is £130 apprx).

martinthebandit

I can't see anything there to get too exited about or, indeed, anything particularly surprising for an old house.

chaoclive

Yeah. Most of it is to be expected I suppose. My only worry is: can I get rid of this kind of stuff (mainly concerned about damp)once and for all? Or will I have to keep getting stuff done for the duration. I'm not scared of having to put a little money up up-front but I'm not willing to keep pumping cash into it for years. Obviously I don't want the damp to cause any other issues either, especially health ones!

Thanks for your input!

ACG

It sounds like you have more than the basic valuation done?
I tend to find they do go a little OTT in order to cover their own backs.

That being said, I think I would want either the damp issue sorting or money off the PP and confirmation of whether it is a rewire that is needed or not. The cost of a rewire and the damp work can lead to a couple of thousand each but te rewire will (if done properly) mean you need chasing done in the walls which then means every room will need redecorating and potentially new carpets which then leads on to more expense.

mrginge

Unless the vendor is an idiot, you should have no scope to renegotiate since the purchase price is appropriate for the property in its current condition.

I would investigate the ground floor damp and possibly the woodworm further before making a decision on whether to continue.
The rest of that list is general maintenance.

ACG

mrginge wrote: »

You have no scope to renegotiate since the purchase price is appropriate for the property in its current condition.

Thats not true.
The valuation has come back fine but the survey has not. Did the OP make his offer knowing all of the above? If not, it has come as a surprise and so they may not be prepared to offer the full amount initially offered.

You can renegotiate because of the way the wind blows if you want, its not good practice and will probably not get you anywhere but in England and Wales (rightly or wrongly) you can try to renegotiate for anything up until exchange.

mrginge

ACG wrote: »

Thats not true.
The valuation has come back fine but the survey has not. Did the OP make his offer knowing all of the above? If not, it has come as a surprise and so they may not be prepared to offer the full amount initially offered.

You can renegotiate because of the way the wind blows if you want, its not good practice and will probably not get you anywhere but in England and Wales (rightly or wrongly) you can try to renegotiate for anything up until exchange.

Well of course you can use any reason you want to ask to renegotiate.
The question is are those reasons reasonable.

If you have offered X and the valuation is X, then why would a sensible person then accept X-Y?

Perhaps I should amend my original comment...

ACG

They do not have to accept a renegotiated offer.
But if I make an offer on a property, I do it based on my knowledgeof the property. If it turns out that is wrong then I may decide to renegotiate.

When I bought my first hosue, value came back fine there was a note about some damp and so I used that to knock a grand off the purchase price as thats what it would cost me to put it right more or less.

When I bought my second property it came back saying electrics are on the last legs (not a surprise as there was only 1 socket working in the whole house and even that had black sut around it) as are some of the windows, but I knew that as I put the offer in knowing it would be a project and so although windows and electrics would cost more than fixing a minor damp issue, I made my offer in the knowledge that those things along with many others would need doing.

chaoclive

Thanks for the replies guys!

Mrgringe: The reason why I would ask to renegotiate is simply that the survey has turned up many more issues than were visible to the untrained eye. I was told by the EA that the vendor has a survey undertaken previously and that everything was fine. That is not the case, especially since the surveyor from Colleys was actually the person who had carried out the original survey. To be honest, if the vendor doesn't negotiate I am not too worried. I can still continue to rent and search at present. I'm not in a major rush. The issue is that the seller will be stuck with a property that he himself doesn't want and, based on the recent survey report history, neither will another first time buyer!