Home Buyers Report Adice pls

mummy2014

Hi

Its me again we are in the middle of purchasing our first house and we have just had the results of the RICS Home Buyers Report and I dont really know what to do next.

Its come back with a three for the roof coverings and structure and they are recommending that we get someone to look at it.
Also it says that we need to get the gas and electricity tested too.
Who should pay for this us or the vendors.

Right at the end of the report it says that the current reinstatement for the property is £112,000.

The asking price was £175,000 and our offer is £169,000.
Any advice would hugely appreciated.

Many thanks

tykesi

mummy2014 wrote: »

Hi

Its me again we are in the middle of purchasing our first house and we have just had the results of the RICS Home Buyers Report and I dont really know what to do next.

Its come back with a three for the roof coverings and structure and they are recommending that we get someone to look at it.They pretty much all say that, what does he say is wrong with it?
Also it says that we need to get the gas and electricity tested too.
Who should pay for this us or the vendors. Up for negotiation. Our buyer asked us to pay for the gas and electric tests, we said no, for a couple of reasons ended up compromising on us paying electric, them paying gas.

Right at the end of the report it says that the current reinstatement for the property is £112,000. This is the re-build cost, not it's value.

The asking price was £175,000 and our offer is £169,000.
Any advice would hugely appreciated.

Many thanks

None of that is reason for offer reduction, it's up to you what you pay for or what you try to negotiate with the vendors.

Surrey_EA

Recommending a gas and electricity inspection is a fairly standard comment in most surveys. If you would like them inspected for your peace of mind then you're the one who is going to have to fit the bill, most likely, although there's rarely any harm in asking whether the seller will contribute. Be prepared for them to refuse though.

The reinstatement value refers to the amount that you should insure your home for in case of total loss. The reason this figure is not usually as high as the purchase price is because the land itself also carries a value, regardless of whether there is a property on it.

As for the roof, perhaps it is worth speaking to the surveyor on the phone if possible. Often surveyors are prepared to be a bit more candid verbally than they are in writing. it sounds like it's worth investigating further, but don't be surprised if you ask a roofer to give their opinion that they tell you a new roof is required.