first time buyer .. survey questions

adek

Hi forum people, i have been reading all your posts for the last few weeks now and i really appreciate how people take their time to reply to questions. Here is my:

we are first time buyer with my wife and we saw a property that we liked. we submitted offer above £1500 the home report price and was accepted but after reading through this forum and checking the home report survey (scotland) again which i was thinking its might not be any problem. I will just like to ask for people options. the survey shows as follows:
Chimney stacks 2
Notes Weathered and defective chimney masonry is visible and repairs are required

Roofing including roof space
Repair category 2
A number of loose or broken roof slates and components were visible. More extensive overhaul work may be
required in future.
There was evidence of previous water ingress within the roof void which would
suggest that roof coverings require upgrading and at least a degree of regular
ongoing maintenance or possible replacement/overhaul. The advice of a
reputable roofing contractor should be obtained prior to purchase.
There are no separation walls within the roof space representing a potential fire
and security hazard. Upgrading is required.
Valley gutters require to be cleared of debris in the short term and on a regular

Rainwater fittings
Repair category 2
We would highlight that it was not raining at the time of our inspection and we
would recommend that all rainwater fittings be inspected during heavy rainfall in
order to ensure they are free from defect.
Rainwater goods have suffered corrosion. Maintenance is required and
gutters/downpipes checked during heavy rainfall.

Garages and permanent outbuildings
Repair category 2
Moss growth was noted to garage roof which should be removed.
Weathered/decayed timbers were noted to the garage. Some path repair and
regular ongoing maintenance should be anticipated.
The garage may contain materials with an asbestos content including the roof
covering. These have not been tested and we have not carried out an asbestos
survey on the property however these materials should be handled by a
competent contractor only.

Also it was recommended that the property should be insured for a sum of not
less than £210,000 (TWO HUNDRED AND TEN THOUSAND POUNDS STERLING and the property is only worth £125000 and dont know why there is a big different for the insurance.

we are also using mortgage broker but i had to point out to him about nationwide requirement that if you don't have a permanent residence, they will require 20-25% deposit which we cant afford and he wasnt aware of it. i will like to ask if its possible to find another lender without this requirement and will take 10% or all lender require this. Thanks in advance

DottieDam

Also it was recommended that the property should be insured for a sum of not
less than £210,000 (TWO HUNDRED AND TEN THOUSAND POUNDS STERLING and the property is only worth £125000 and dont know why there is a big different for the insurance

The £210k value would be the cost to rebuild and £125k the value to buy the house. I think this is pretty standard, both those values are similar to the house we just bought and insured.

adek

thanks for the answer... new first buyer here and not too sure because most of the home report we have seen have almost the same insured amount and the home report valuation. so if its doesnt make much different, thanks.

you have any idea about the survey questions?