FTB Queries

FTB1961

I am currently in the position of being a FTB paying with Cash received as an inheritance.
Have found a house & have made an offer subject to survey - the house was on the market at 89,000 but vendors accepted an offer of 85,000.
Building Survey that came back about 3 weeks ago detailled Essential Works (including possible woodworm & water ingress along party wall possibly due to bad condition of brickwork) & Surveyor agreed to get quotations done for this. Have been chasing surveyor for these but have not yet seen the quotes.
Market Value of house was given as 82,5000.
Surveyor has now advised in an email that the water ingress works is like to be quoted for as 2,500 plus scaffolding (for a 3 storey terrace house), but no details re woodworm as survey for that not due until tomorrow.
My thoughts are currently leaning towards asking the Vendor to carry out works required (as he is the Builder who renovated the house) But still sticking with the 85,000 offer providing that works can be verified in some way.

Looking for input though before finally deciding.

Gwendo40

Is that market value of £82.5k once the defects have been rectified or in it's current state?

I'd be worried about the quality of the ''renovation'' elsewhere if this builder hasn't dealt with water ingress and woodworm.

FTB1961

Thanks Gwendo40 - The 82,500 Market Value is for its current state. The large property was split into 2 properties, one of which was sold to one of the builders relatives. The surveyor has said that the "renovation" has been carried out generally to a very high standard. The water ingress is on the party wall that does not adjoin the relatives property.

jonnygee2

Building Survey that came back about 3 weeks ago detailled Essential Works (including possible woodworm & water ingress along party wall possibly due to bad condition of brickwork)

My thoughts are currently leaning towards asking the Vendor to carry out works required (as he is the Builder who renovated the house)

Doesn't sound like the kind of builder I would want doing renovations to my house.

G_M

FTB1961 wrote: »

.....Essential Works (including possible woodworm & water ingress along party wall possibly due to bad condition of brickwork)

......asking the Vendor to carry out works required (as he is the Builder who renovated the house)

:rotfl::rotfl::rotfl:

He's clearly a carp builder if he missed this during the renovation.

What level survey did you have done? Homebuyers? If so, and assuming you are stil serious about buying, pay for a full building survey as your 'builder' may have missed /scrimped in other areas which the Homebuyers survey did not pick up......

If you still want to buy, do the remedial work yourself after purchase. That way you can choose, and be confident in, your own contractors.

Whether you now pay less for the house is down to your negotiating skills.

FTB1961

Thanks G_M
It was a full Building Survey - not a Homebuyers. Everything else appears to be OK in the report.