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Buying house with issues previously outbid on - Advice needed
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fdama
Posts: 32 Forumite
A month ago, I placed an offer on a house in Audenshaw, Manchester that ticked all the right boxes after a two year house search as a first time buyer. I lost out on ‘best and final offers’. I informed the agent at the time to call me if the purchase falls through. It did and he explained that the buyers pulled out because of issues with the property. He explained that the survey flagged some issues. The first issue is Asbestos in the kitchen roof extension. The house is a typical Victorian mid terrace built in the 1880’s with two reception rooms and a kitchen at the back. The original kitchen has been extended, but has a noticeably lower ceiling at the extension end but don’t know why. The roof in this section is apparently has a corrugated structure and has Asbestos.
The second issue is Damp. This is one of the issues I specifically was looking out for during my viewing. I noticed one small area in the dining room just outside the kitchen where the paint had flaked off. It is on the wall shared with the neighbours. I had not noticed any signs of damp anywhere else, nor could I smell it. I’m not sure where else the damp has been reported in the survey at this stage, if so.
The third issue is wood rot. I don’t have much detail about this at the moment as the agent has not yet received a copy of the survey. I guess this is something I would not have spotted unless lifting up the carpets. But I found the floor boards to be sturdy when walking on them.
I now need to do whatever is sensible which is where I need the advice. I really, really like the house. It is within my budget (was on the market at £115,000). It’s of a good size; Its larger than the average terraced 2 bedroom houses found elsewhere in Manchester which are generally smaller and have a narrow feel to them. It has potential; I did want something that I could put my own stamp on. The area is not bad and has great transport links. The tram and bus stop are a few hundred yards away. I told the agent that I need to do some research into this and he has given me until the weekend to decide before it goes back on the market. He asked if I would be prepared to offer the asking price of £115,000 which is what I originally offered before losing out on best and finals .
What approach do you recommend I take now? I was thinking about a getting a damp and timber survey done if the vendor allows . Regarding the asbestos, after doing some research on the web, the sources state that it should not be a major issue unless the material is disturbed. My future plan was to modify the extension to align the roof height with the original kitchen. This would mean getting rid of the roof. Do I resubmit an offer and negotiate on this first? Or do I carry out the damp and timber survey first and then offer?
The second issue is Damp. This is one of the issues I specifically was looking out for during my viewing. I noticed one small area in the dining room just outside the kitchen where the paint had flaked off. It is on the wall shared with the neighbours. I had not noticed any signs of damp anywhere else, nor could I smell it. I’m not sure where else the damp has been reported in the survey at this stage, if so.
The third issue is wood rot. I don’t have much detail about this at the moment as the agent has not yet received a copy of the survey. I guess this is something I would not have spotted unless lifting up the carpets. But I found the floor boards to be sturdy when walking on them.
I now need to do whatever is sensible which is where I need the advice. I really, really like the house. It is within my budget (was on the market at £115,000). It’s of a good size; Its larger than the average terraced 2 bedroom houses found elsewhere in Manchester which are generally smaller and have a narrow feel to them. It has potential; I did want something that I could put my own stamp on. The area is not bad and has great transport links. The tram and bus stop are a few hundred yards away. I told the agent that I need to do some research into this and he has given me until the weekend to decide before it goes back on the market. He asked if I would be prepared to offer the asking price of £115,000 which is what I originally offered before losing out on best and finals .
What approach do you recommend I take now? I was thinking about a getting a damp and timber survey done if the vendor allows . Regarding the asbestos, after doing some research on the web, the sources state that it should not be a major issue unless the material is disturbed. My future plan was to modify the extension to align the roof height with the original kitchen. This would mean getting rid of the roof. Do I resubmit an offer and negotiate on this first? Or do I carry out the damp and timber survey first and then offer?
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Comments
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The first question to ask is whether the survey results impacted the other buyer's ability to get a mortgage on the place, because that could also affect your ability to get a mortgage on it also - whilst the EA is supposed to disclose material defects they're aware of with the place, they may prefer to give the impression that the other buyer didn't have the appetite for the repairs than admit (at this stage) that you may not be able to get a mortgage on the place.0
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I sometimes wonder if anyone has ever had a survey that didn't mention damp.0
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ReadingTim wrote: »The first question to ask is whether the survey results impacted the other buyer's ability to get a mortgage on the place, because that could also affect your ability to get a mortgage on it also - whilst the EA is supposed to disclose material defects they're aware of with the place, they may prefer to give the impression that the other buyer didn't have the appetite for the repairs than admit (at this stage) that you may not be able to get a mortgage on the place.
The EA told me that they were a young family and didn't want to be living there with potential building work going on.
Does the lender's surveyor go into that detail? I thought the results of this survey was from the independent survey instructed by the buyer.
I dont know how EAs work but if the reason for pulling out is because of mortgage issues then I would have thought he would have warned me about this as he knows I require a mortgage too. Not disclosing this will just waste the vendor's time.0 -
The EA told me that they were a young family and didn't want to be living there with potential building work going on.
Does the lender's surveyor go into that detail? I thought the results of this survey was from the independent survey instructed by the buyer.
I dont know how EAs work but if the reason for pulling out is because of mortgage issues then I would have thought he would have warned me about he knows I require a mortgage too. It will just waste the vendor's time.
You're absolutely right. If it was an issue with mortgageability, they would tell you or it really would be wasting everyone's time.
The point above about all surveys mentioning damp is probably a good one.
If you have a proper paid for survey from someone that doesn't sell chemical damp proofing, then you should get some decent feedback.
Any cheap or free survey from someone who also sells remedies is likely to be full of bullcrap, frankly. It might get you some ££s off the house as they'll give you big numbers to fix it but isn't to be used as genuine advice.
It sounds like the others buyers were inexperienced and a bit risk adverse, but you'll probably find that the problems aren't major and very easily fixed with some simple maintenance.
The asbestos roof is another issue, but it isn't really that hard to deal with, if and when you choose to deal with it.Everything that is supposed to be in heaven is already here on earth.
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The EA told me that they were a young family and didn't want to be living there with potential building work going on. .
What potential building work?
I think people panic at the word asbestos but unless you plan to move it (which you somewhat do) you don't have to think about. And even if you do plan to move it there are loads of avenues you can go down to minimise risk.
Is the wood rot the potential building work?
Was the survey an excuse for the other family to pull out?
Do you expect to find a Victorian house in Manchester without damp?0 -
What potential building work?
I think people panic at the word asbestos but unless you plan to move it (which you somewhat do) you don't have to think about. And even if you do plan to move it there are loads of avenues you can go down to minimise risk.
Is the wood rot the potential building work?
Was the survey an excuse for the other family to pull out?
Do you expect to find a Victorian house in Manchester without damp?
What I meant by 'potential building work' is sorting out the damp and rot issues.
The other family did pull out because of the survey. They had children so I guess they wanted somewhere to move into with no fuss.
I used to live in a house with damp issues so I dont find this to be a major issue. It seems the reported damp issues are confined to one area that I observed during the viewing. I cant be sure but I assume it is. I will be doing my own independent damp and timber survey.0 -
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I'd get a full survey done on it (including structural) - woodrot and damp are not a good combo, and not to be ignored.
Like posted previously make sure the surveyors are impartial. You need to assume that some work will need to be done - Anything that's flagged up, I'd deduct from your offer amount and use to get the work done before you consider moving in (so much easier). It kid of depends on the type of damp (rising/penetrating etc) what work would need done.
You can't make assumptions about why the previous buyer pulled out. They clearly wanted it enough originally to outbid you for it, so you have to ask yourself if they would walk away quite so easily. The 'young family' story could be a salesman's ploy... Your first house isn't something to take on on a whim - which as you say you've been looking for for so long, doesn't seem to be what you're doing...0 -
ThePants999 wrote: »my last survey said "No evidence of significant dampness was found"
Which cleverly doesn't say that "no damp was found".If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0 -
Asbestos is the sort of thing that people get panicked about. As has already been stated, if you don't disturb / move it, then there is nothing to worry about.
Years ago a surveyor almost caused a sale to fall through. Price had been agreed, surveyor goes in and reports the roof tiles on the balcony are "99% sure to be asbestos" and will absolutely need replacing. Cost of this will be £25,000 - £35,000 apparently. Buyers really scared, vendor incredulous as they were sure they were not.
Arranged for a specialist inspection. Surprise surprise, absolutely no asbestos present. Even if there had been, would have been very simple to screed them and protect from any issue going forward.
Surveyors are generally desperate to protect themselves.0
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