Bad survey - and a much lower valuation!

Jonbvn

The subsidence and the vendors rush to exchange were serious red flags.

OP, you have had a lucky escape. This also demonstrates the importance of adequate due diligence when making what is likely to be the most important purchase of your life.

Mareland6

https://www.zoopla.co.uk/for-sale/details/49154637?search_identifier=f24d4445f8538deea687177c6b51844d

Nice enough house, nice enough area.

Beware Manning Stainton Morley. They pick and choose what information they pass on, to the point where the seller had to find me on facebook to speak to me. They fail to speak to each other at all in the branch, and they seem to have very little understanding of how house values actually work (we had to explain to multiple people that doing £2k of repairs does not necessarily add £2k value).

Davesnave

https://www.zoopla.co.uk/for-sale/details/49154637?search_identifier=f24d4445f8538deea687177 c6b51844d


The vendors have obviously thrown money at the house, but without remedying its physical shortcomings, which should come first if wishing to add value.

Now, they hope to find purchasers as clueless as they were.

elsien

For future reference though, "coming to the end of its useful life" doesn't mean "needs doing in the next 12 months."
My ceilings were coming to the end of their useful life when I had my survey, and 15 years later they are still there. I suspect when the paper comes off, so will the ceiling, but nothing has dropped on my head as yet.

MobileSaver

Jonbvn wrote: »

The subsidence and the vendors rush to exchange were serious red flags.

+1

I agree with others that you have probably dodged a bullet there and I would have already walked away.

It sounds very much like they were trying to pressure you into committing without investigating the subsidence fully. Otherwise it doesn't make much sense for them to re-market and look for a new buyer when you are already a fair way into the process.

csgohan4

the pictures aren't bad, but they are literally papering over the cracks

Ian_875

Seems to have been SSTC again. Oh dear!

seven-day-weekend

The subsidence could be serious, the rest not, particularly.

Some friends of mine bought a house and the survey said it needed a new roof. They had some repairs done for a fraction of the price for a new roof and thirty years later the roof is still fine.

markin

Odd they weren't advised to claim on their insurance and get the subsidence done with, or investigated so they can say its stable.

martindow

Following the link given above leads to a Zoopla page saying the property is no longer available. Maybe this thread is coming up when people search for houses in this street?