House valuation - potential roof repair. Who pays?

dajewo

Hi all,
I'm in the process of buying a house. The mortgage valuation came back stating that the timber specialist will be sent out to inspect decay to purlin in the attic and carry out any repairs is necessary.
This comment is placed in the 'any significant repairs already reflected in the market value' field on the valuation form. Does that mean we will be billed with any potential repairs or is it something that can be discussed with the seller?
Thanks

Surrey_EA

Who will be sending a timber specialist to the property?

It would be highly irregular for the buyers mortgage company to arrange that, and then sanction repairs.

ThePants999

Hang on - the mortgage valuation isn't going to say "I'm sending out a timber specialist", it's going to say "a timber specialist needs to be sent", surely? You don't own the house, so they're not going to go make repairs on someone else's house and bill you for them! It'll surely be up to you to commission and pay for the specialist report. The only question is whether the surveyor is simply recommending you do so, or whether he's recommending that the mortgage offer not be made until this has been resolved.

I'm going to ignore that for a second. If you get a survey that says "it's worth £X", and highlights an issue but does so in a box marked "any significant repairs already reflected in the market value", that means it's worth £X DESPITE needing those repairs, i.e. it would be worth MORE than £X if the repairs were done. However, your vendor doesn't see your survey unless you show it to them (and why would you?), so you're free to negotiate with them if you think you can convince them to drop the price in light of the work you'd have to do.

dajewo

At this point, I don't know. On one hand it says it's 'required' but on the other hand it was not made as a condition to the offer - mortgage has been approved.
I will be getting in touch with the surveying company/lenders/solicitors..


I suppose maybe it's just poor wording on the form.

eddddy

dajewo wrote: »

This comment is placed in the 'any significant repairs already reflected in the market value' field on the valuation form.

dajewo wrote: »

The mortgage valuation came back stating that the timber specialist will be sent out to inspect decay to purlin in the attic and carry out any repairs is necessary.

I wonder if the owner said to the valuer something like "I'm getting a timber specialist in to inspect and repair the decay" - so the valuer wrote that down on the form.

(i.e. The owner knew about the decay, and might not have mentioned it, if the valuer hadn't wanted to look in the loft.)

00ec25

dajewo wrote: »

At this point, I don't know. On one hand it says it's 'required' but on the other hand it was not made as a condition to the offer - mortgage has been approved.
I will be getting in touch with the surveying company/lenders/solicitors..

I suppose maybe it's just poor wording on the form.

the point is you don't know....

"required" by whom??
if this is "required" on your survey that ask the surveyor who wrote it as you are paying his bill and you are entitled to understand what he is telling you.

come back for more advice when you know what is what