FTB - Damp and Timber Survey - Mortgage retainer

Standard91

Hi there, 
I was wondering if anyone could share some wisdom. FTB are currently trying to buy a house - we offered the asking but had a down valuation of £13,000 in our RCIS Homebuyers report. We have now had a retainer put on our mortgage and requested to have an PCA evaluation of the Damp and Timber. 
As we're first time buyers we are struggling as to know how to proceed. We have sourced someone to do the survey for a reasonable price, but are waiting to hear back from the vendors. We do not want to lose the house, but are conscious of having to subsidise the deposit, retention and the works?
So, do we just wait until the survey is done? We have our solicitors appointed but not supplied documentation yet as we don't want to be liable for fees until we have a clear idea as to how much the vendors will go down on. We're willing to invest more of our money if the works are reasonable and affordable, or should this be a condition of the sale? 

As you can see, any advice would be really appreciated. 

AdrianC

Standard91 said:
We have now had a retainer put on our mortgage and requested to have an PCA evaluation of the Damp and Timber. 

...
We do not want to lose the house, but are conscious of having to subsidise the deposit, retention and the works?

Yep, that's the way the retention works. The lender will hold back that amount until you've done the work.

So, do we just wait until the survey is done? We have our solicitors appointed but not supplied documentation yet as we don't want to be liable for fees until we have a clear idea as to how much the vendors will go down on. We're willing to invest more of our money if the works are reasonable and affordable, or should this be a condition of the sale?

Whatever you do, don't get the vendor to do the work. They have no incentive to do anything but the absolute bare minimum.

Through your solicitor, you could ask for a retention from the vendor, or simply a reduction in the offer. But, of course, the vendor doesn't have to agree to anything.

FreeBear

AdrianC said: Whatever you do, don't get the vendor to do the work. They have no incentive to do anything but the absolute bare minimum.

Try to avoid a surveyor with any links to the PCA - It is the trade body for the damp and timber "treatment" industry... And certainly avoid anyone with connections to a damp treatment company. They would have a vested interest in selling expensive and pointless "cures" when 99% of the time, simple repairs outside will cure the problem. Do not get suckered in to paying for chemical injection to the walls and/or tanking solutions (waterproof render/plaster) - They just mask the problem for a few years without fixing the root cause.

Much of the time, damp inside a property is down to leaking gutters/downpipes, elevated ground levels bridging the damp proof course (DPC), or a broken pipe (water or drain). All are easily fixed at a relatively low cost.