Homebuyers survey report says possible asbestos - should I renegotiate price?

millymilly

I am buying a 1930's house, which needs extensive work done - rewiring, replumbing, timber replacement throughout. The owner is a single older woman, she has not carried out much work on the house since they first bought it 40 years ago, and extended 30 years ago.

It's a 4-bed in London. The house was on the market for £690k last year, and had an offer which fell through, (I am not sure I believe this though). It then went on for £655k, and sat on the market for around 6months +, with no offers. I offered £630k, bearing in mind the work needed, and we settled at £635k.

My mortgage providers agreed to my mortgage without valuing the property - they carried out an online valuation. So I got myself a HomeBuyers Report. The results of this were pretty much as expected - lots of 2s and 3s:

2s - chimney stack pointing and brickwork, the roof has no felt lining, leaking pipes/gutters, repair rendering on outside walls, timber is rotting/softening in places, Vermiculite in ceilings (therefore possible asbestos), insulation below recommended levels, some loose floorboards and cracked floor tiles, minor bathroom repairs needed

3s - windows lack FENSA certs, back door lacks safety glass, ceilings and walls have polystyrene tiles (fire risk), timber work needs replacing, rewiring and gas inspection needed, boilers x2 needs servicing

I plan to address the 3s before I move into the house, which will take all of my available budget.

But am wondering if the possible asbestos is a cause for concern? I know this is safe if it is left undisturbed, but as we will need to disturb the ceilings to remove polystyrene tiles, and for rewiring/plumbing, if there is asbestos present this will need to be removed. Do I have reasonable grounds to ask for a further reduction in price? Instead, I could ask her to have an asbestos surveyor before the exchange?

I am hesitant because I already have agreed at £15k under asking price, and the asbestos issue was 'only' flagged as a 2 and not an immediate concern. My survey has cost me £500 so far, so I don't want to throw more money into this if it is a no-go.

I need to own the house by Sept (even if I move in later), and the vendor has a property she is itching to move into, which she is also stretched her budget for. Hoping to exchange at the end of the month once surveys are back, although this is a bit of a moving target.

I would like to be fair about this, but as I am a single buyer with young children I do need to be sensible about this. Any thoughts would be welcome.

hazyjo

No, I'd not renegotiate price. Asbestos is very common in houses. You can pay for it to be tested before or after moving in. I doubt removing polystyrene tiles would disturb it, but ring a professional removal company to ask.


The vendor usually pays for indemnity policies (lack of FENSA) and the buyer usually pays for any surveys or inspections. I'd not be paying for an asbestos survey for you as a vendor. As a buyer, I wouldn't be touching the ceilings before moving in, nor the rewiring or timber work. Boilers do not NEED servicing, it's just recommended.

millymilly

Thank you -- that's really helpful to know. Can I ask what you mean by this: "As a buyer, I wouldn't be touching the ceilings before moving in, nor the rewiring or timber work"

Do you mean I shouldn't be checking these things out before buying, or something else?

westernpromise

It's not a live concern because it's OK if left in situ, but you'll need someone who specialises in this stuff to remove it, which will cost. The wider question really is whether the house is properly priced given its condition - what made my heart sink was when you said that the vendor "has not carried out much work on the house since they first bought it 40 years ago, and extended 30 years ago."

In my experience that means that the place needs gutting. Everything will have been stinted on for 40 years. The electrics will be out of date and (for example) things like phone and TV aerial sockets will be in the wrong place.

This is probably the worst type of vendor to buy from. In our house I expected to have to do certain things, but I am finding I need to spend £30k replacing all the rotten windows, for example, because they're softwood and the paupers who owned the house left them there for 40 years. In the garden the previous owners put one patio on top of another to save themselves the expense of removing the old one, so if I want a new one, I first have to pay to remove two.

If all that's in the price you're fine, but the thing about houses is that these sort of costs can't be evaded, they can only be deferred until eventually you have a house where 40 years of neglect adds up to £150,000 of work to be done. Ideally you don't attempt to live there while it's done.

millymilly

Hiya, yes, the house will need gutting, as its very old - but its a great size and location for the price. Luckily I don't need to move in until its all done, as we have somewhere to stay.

The rewiring will include adding in all new plug points, tv wires, burglar alarm, etc, and so it's definitely a big job. Luckily my brother knows an experienced team who worked on his house are ready to work on this as soon as we complete. It is definitely a daunting prospect though.

millymilly

I should add that comparable properties, usually with slightly smaller bedrooms but much better decor, are all priced at around £700k at the moment - I have been looking and viewing for the past 6months or so, so I think this is reasonably priced given its condition and location.

need_an_answer

millymilly wrote: »

I think this is reasonably priced given its condition and location.

To be honest I think you have now answered your original question.

teneighty

"Vermiculite in ceilings (therefore possible asbestos)"

That statement doesn't actually make any sense. What do they mean by vermiculite "in" the ceiling and why does that mean it possibly contains asbestos?

millymilly

Report says "vermiculite has been laid on top of the ceilings. This may contain asbestos fibres. Due to the possible asbestos content, the surfaces should not be disturbed without prior advice from an appropriately experienced or qualified person.'

todayisagreatday

millymilly wrote: »

Report says "vermiculite has been laid on top of the ceilings. This may contain asbestos fibres. Due to the possible asbestos content, the surfaces should not be disturbed without prior advice from an appropriately experienced or qualified person.'

This sounds more like covering backside.... My sale of my house collapsed due to a Homebuyers and they sent me the report. What actually gave them cause for concern which resulted in the loss of the sale was all the 'may' words and recommendation of further surveys. One was a structural engineer . . . For no reason other than backside covering but the buyers literally interpreted it as it was falling down, had subsidence and was literally unmortgagable. It was a 1991 detached bungalow with a full homebuyers I'd had done when I bought it with no issues and part of a cul dear sac of 9 other properties built the same time, all of which built by the same builder they have been bought/sold lots of times with no issues.

martindow

A house from that time will almost certainly have asbestos in it. You need to factor in a sum to to deal with this as part of the building works. It is probably not worth having a survey carried out until the builders have done some stripping out or you are likely to miss some and add to the cost.



I've just finished having work done on a 1950s house which had asbestos in soffits, flooring tiles, behind a gas fire and around the central heating boiler. Including a survey the removal cost was around 2000 Pounds.