help!vendors survey found damp

MRPEEVED

Exuse the title it's meant to read
Buyers survey has found damp!

after so many stressful months waiting for an offer on our house, we finally got one. a first time buyer who is getting help to buy from her local housing association. we have found somewhere, chain free, and everything was running smooth until today.
The vendors lender had a survey done that detected damp, i was rang and told a specialist damp guy (dampaid) would be around the next day. We have seen no signs of damp. My dad is a (bloody good) surveyor and came round to do his own test with his little machine. He was surprised to find damp and suspected in was being caused buy the tile skirting boards on the ground floor and something to do with the rendoring outside. The guy came today and has confirmed this. He is writing up his report to send to the lender.

Its an ex council house built around 1940. We havent done anything to the building other than paint since we've been in, 5 years. No reports of damp were mentioned when we moved in.

So scared to death now that we are going to be stuck here much longer than hoped. I've read about mortgage retentions but what if they refuse her mortgage full stop? we are willing to negotiate the price of the property but this would not be ideal as the house sold for £15000 less than it was put up for.

The buyer is very keen on this place and has apparently not ben put off at the thought of damp. its just what her lender is going to say.
any advise would be greatly apreciated

Kidder81

I'm no expert but as long as the surveyors value of the property matches what the bank are lending to your buyer, I can't see why the back would be concerned.

Damp of one degree or another is an issue in many houses. As long as your buyer isn't worried then I wouldn't be.

Flutterbat17

Well we are buying a 150 year old house with damp and other noticeable issues but the lender was fine and offered a mortgage with no issues. They just want to know it is worth the value they are lending at. We will have to fix a few drains and chip of some cement tender to help dry the brickwork out and fix the damp.

Flutterbat17

Render not tender ! I can’t edit the post ����

Davesnave

Flutterbat17 wrote: »

Render not tender ! I can’t edit the post ����

I wouldn't worry the OP has said "vendor" when they meant "purchaser."

MRPEEVED

i did but vender instead of purchaser. my bad

Davesnave

MRPEEVED wrote: »

I've read about mortgage retentions but what if they refuse her mortgage full stop? we are willing to negotiate the price of the property but this would not be ideal as the house sold for £15000 less than it was put up for.

The buyer is very keen on this place and has apparently not ben put off at the thought of damp. its just what her lender is going to say.
any advise would be greatly apreciated

This is a common type of problem with houses of this age and it's unlikely any remedial work specified will amount to even £5k, let alone £15k, if only some rendering and a chemical DPC (perhaps) is involved. Indeed, if this is the only thing amiss it's a pretty good house.

As above, if the purchaser's surveyor values at the agreed price, they have little leverage to gain a price reduction.

Your Dad may be a good surveyor, but electical resistance meters, if that's what it was, are much better used to determine the suitability of logs for fuel than in damp surveying. They can usually be relied upon to give a reading on older houses, but that doesn't mean there's anything 'wrong.'

This is significant because Damp Aid, while they claim to be independent specialist surveyors, also do damp proofing work, so it's in their interests to find damp. A truly independent damp and woodwork surveyor is not tied to a remediation company. However, the buyer is paying, so you don't get to choose.

MRPEEVED

thank you all for the positive comments. It is worrying but now its waiting to see what the bank say. This is our first home and we rushed into buying it desperate to get on the ladder. The home we are buying is in a lovely area and we will be heartbroken to lose it.think positive