Survey advice

mummyflesh

Hi

We are first time buyers and we have just had our Homebuyers Reprt back today. However there are some issues that need dealing with urgently. It says there is cracking due to movement so we would need to obtain a full structural report. The other issues are to do with damp and damaged floor boards etc.
Our next step is to get the structural report but after that do we negotiate a new price. But who actually pays for the work to be done. Apologies if I sound silly its all new to me and I am not sure.

Many thanks

jonnygee2

Do you actually want a house that is cracking due to movement? As a first time buyer it might be easier to walk away.

After a full structural survey you would probably renogtiate the price based on the costs of fixing the movement issues.

Damp and floorboards is a bit different. Depends on how much of it etc but a bit of damp or is often just part and parcel of buying a house.

But subsidence/ground movement. .. For me personally I just wouldn't bother.

Davesnave

No one here can judge the severity of the problem, but if you commission a structural report from an engineer and it turns out to be serious, then your lender probably won't wish to advance money on the property.

So, it's your call whether to investigate further or walk away.

mummyflesh

The survey/valuation from the lender was done a few weeks ago.

Grumpelstiltskin

mummyflesh wrote: »

The survey/valuation from the lender was done a few weeks ago.

The lender does not do a full structural survey. It is up to you to find out the full facts and as others have said as first time buyers you need to be sure you know what you are possibly getting into.

Davesnave

Grumpelstiltskin wrote: »

The lender does not do a full structural survey. It is up to you to find out the full facts and as others have said as first time buyers you need to be sure you know what you are possibly getting into.

And it's your solicitor's duty to inform the lender of stuff like this, even if you don't want to.

Sibz

Structural surveys may take a while - they may need to measure the subsidence/movement which takes time. Then there's damp issues that need looking into (is it simply condensation, or is it penetrating damp or rising damp - if the latter 2, what's causing it and whats the cost of fixing that?).

Are you buying with a view to renovate? Do you have time to spare and money to invest for these things? You need to consider that and decide of the money you pay for these checks/repairs are worth the risk to you

csgohan4

i would walk tbh, the lender's survey will likely find the same thing and offer you 0 or a large retention. Not worth the trouble for a FTB

hazyjo

Cracking where?


If somewhere like a bay window, that's normal. Don't panic. Get a structural engineer's report. If elsewhere, that's different.


I would walk if serious. If major works are needed, I'd want to get them done myself rather than trusting the vendor. But I would be renegotiating the house price.


What has the valuation come in at? Same as accepted price, or less?

davidmcn

Even if you convince yourself it's not too bad, bear in mind that it's likely to be something which would make future buyers or lenders twitchy.