Is this a bad survery?

kkqd1337

I just got a survey report for a 1900 house in London.

Current offer is £640,000.

Survey report has high lighted £35,000 of work that needs doing.

Some urgent to the roof and wall that is cracking etc.

Read a lot about 'bad' surveys, which I guess is relative to what you can afford to do and also the max achievable property price on the street you are buying.

I will obviously discuss this with the agent/seller and do some negotiation.

But from the outset is this a 'bad' survey or sort of typical findings for a 100 year old terrace?

G_M

You're the seller? How come the survey came to you?

Did you price the property based on its condition?

Do you agree the roof has a problem? If you live there I'm sure you'd know! Likewise you'd know if there was a significant crack in the wall....

kkqd1337

G_M wrote: »

You're the seller? How come the survey came to you?


Did you price the property based on its condition?


Do you agree the roof has a problem? If you live there I'm sure you'd know! Likewise you'd know if there was a significant crack in the wall....

No i'm the buyer.

Made an offer. But didn't know about the findings.

Typical nice house's on the same street go for 750

G_M

But you said:

I will obviously discuss this with the agent/buyer and do some negotiation.

OK - so
* what exactly does the survey say?
* how does £640,000 compare with other local similar properties? In good condition?
* what is your contingency budget?
* how much do you want this property?
* are you prepared to take on building work? Managing contractors?

kkqd1337

G_M wrote: »

But you said:



OK - so
* what exactly does the survey say?
* how does £640,000 compare with other local similar properties? In good condition?
* what is your contingency budget?
* how much do you want this property?
* are you prepared to take on building work? Managing contractors?

'But you said:'

ha oh no i didn't


* how does £640,000 compare with other local similar properties? In good condition? - their is scope to sell for more


* what is your contingency budget?

minimal lol

* how much do you want this property?

good size, location, can afford it

* are you prepared to take on building work? Managing

it's not ideal



* what exactly does the survey say?

FOR EXAMPLE (Among a hundred other things lol)

WALL STRUCTURE DESCRIPTION: Same as above.
WALL THICKNESS DESCRIPTION: Same as above.
CONDITION SUMMARY: There are cracking to the rear elevation wall that is likely to be caused by faulty
drainage. A specialist drainage contractor’s report will therefore be required, which should involve a pressure test,
possibly followed by a CCTV inspection. If a defect is found, it is likely that the drains will be able to be sleeved.
However, if defects are found, some excavations may be necessary as the subsoil/substrata beneath the foundations
may have eroded away, creating voids. Therefore, trial inspection pits will need to be dug to ensure that the matrix of
the earth is stable. If the soil is found to be unstable, further work to underpin the property may be required. The
drainage inspection and trial pits will need to be supervised by a Structural Engineer who will then be able to provide
you with a structural adequacy certificate, which will be required for your buildings insurance. Once the drains are
repaired, and/or the foundations are confirmed as stable, the cracks can be repointed. All cracks should be raked out to
a depth of around 2cm to ensure a good key for the new mortar. Lime mortar and not cement should be used to allow
the brickwork to breathe.
CONDITION RATING: Defects that are serious and/or need to be repaired, replaced or investigated urgently.
ASSUMED REPAIR COST: £10000

G_M

Well, the surveyor has told you what to do next so either
* follow his advice and pay for the "specialist drainage contractor’s report" or
* take a risk and buy without, or
* walk away

kkqd1337

G_M wrote: »

Well, the surveyor has told you what to do next so either
* follow his advice and pay for the "specialist drainage contractor’s report" or
* take a risk and buy without, or
* walk away

But what I generally mean is; would you call repairs costing about 5% of the purchase price a 'bad' survey?

Or for a 100 year old house is that fair game? As I do want a period property, so 'perfect' will be hard to ever find.

princeofpounds

No, material structural problems are not normal for houses of any age, although there will be a proportion that have them. The age of properties is only loosely relevant to their condition. People do not move into Victorian properties expecting to fix their drainage systems and support a wall as a matter of course.

Thinking in terms of good or bad isn’t the right way to think about it. Each house is quite individual.

But if you are looking for a way of thinking about it, many people would rather divide problems into structural (stuff that has to be addressed for the integrity of the property) and cosmetic (stuff that may be a problem but can be put off indefinitely). Then there is a question of materiality - a plaster crack is immaterial, and actually rather normal, whilst a structural crack potentially caused by collapsing drains is a bigger deal.

What the surveyor describes is something I would be concerned about. It will need fixing. The scope of it is not known, and floors might have to come up, test pits are messy things. It may not turn out to be that bad - the whole building is not subsiding and it hasn’t actually fallen apart yet! But you just don’t know, and it’s definitely going to cost thousands. And given what you say it’s not the only problem.

It sounds like some of this may be incorporated in the price. But there are so many other considerations that go into a price, such as the interior decor, or the investment of time, beyond money, to fix problems.

Having had drain problems in a house in the past, I wouldn’t want to get involved with this one unless the discount made it worth my time to dig up the entire ground floor, but that’s a personal judgment.

AdrianC

What does the survey actually say, in the surveyor's own wording?

Is it merely backside covering, "Well, it's 120yo, and you might like to get somebody expert to check...", or is it actual "OMGMustDoTomorrowElseKittensDie!"?

ec9wrr

I would walk.

kkqd1337

ec9wrr wrote: »

I would walk.

having slept on it i think i agree

subsidence is just not something i think i can take on

also it raises questions as to why this hasn't been addressed by the current owner.

and if i am going to sink £20k+ of my own cash into a property I dont want to be spending it on correcting subsidence which after some online reading seems to be a shadow that never fades