Calm my nerves - Building Survey

TrudieinLondon

OK so my buyers have had their mortgage approved but now have booked in a full buildings survey, Would this likely to be because the bank noticed something in the valuation or are they just doing it because they are being sensible?

I went through all the nerves during the valuation and after, now I've got to go through it all again!

tacpot12

They wouldn't have got their mortgage approved if there was anything significantly wrong with your home, so I expect they are just being sensible in having a full survey done. It is likely that the full survey will find some issues or some things that the surveyor cannot assess. All houses have problems. The buyers might want to negotiate a discount on the price, based on issues that the surveyor finds. If they want money off, it is actually a good sign - if the survey found something really bad, they just pull out. If they want to negotiate, it means that they really want to buy your house in spite of the issues. 

FTB_Help

I dont know many people that wont book in a survey, spending thousands of pounds on a property you need to make sure it's structurally sound.

It seems they booked in a survey after the mortgage offer insted of before as they probably wanted assurance that they could purchase the property in the first place before spending cash on a survey. the lenders valuation doesn't pick up structural issues just if it's worth what they're lending your buyer, Nothing to worry about, unless you know of something materially wrong with your place that they might pick up on?

TrudieinLondon

Thanks. That's what I thought. They cant have had the mortgage approved if the bank suspects something is wrong. Now to tidy up all over again! I had started moving things around to organise packing. This whole process is so nerve wracking.

BJV

I understand it is scary we had when when we sold our old house. But is it perfectly normal esp on an older house. I took it as a good sign because they would not of spent mega bucks on a survey if they did not want to go to the end and buy. I know it is easy for me to say, ( not my house ) but don't worry until you get the results and even then only worry if there is something fundamentally wrong ( you would already know if there was ) . Good Luck

TrudieinLondon

The only thing I am worried about is the roof looks scruffy because its original. But a few years ago I got quotes for a new roof and a couple of the roofers insisted the roof was fine and didnt need replacing. Quite a few wanted to sell me a new roof of course. Hopefully a professional surveyor will be able to see beyond the scruffiness.

Tracet74

From a surveyor's perspective, you don't need to tidy up.  They're looking at the bricks and mortar rather than being concerned if the house is cleaned to a show house standard.  Trust me - I've seen some real states in my career!

FTB_Help

TrudieinLondon said:

Thanks. That's what I thought. They cant have had the mortgage approved if the bank suspects something is wrong. Now to tidy up all over again! I had started moving things around to organise packing. This whole process is so nerve wracking.

The buyers are just a nervous, if not more, trust me, when i was waiting to hear back from my surveyor on a property that i love, i was worried they'd find something horrendously wrong with the structure/ roof etc and that i'd have to walk away from a property I've fallen in love with. If they do find something unexpected, such as a hole in the roof, they might want to renegotiate on price or ask if you could get it fixed before they exchange

TrudieinLondon

I dont think there is anything big like a hole in the roof. I suppose my main worry is they are going to find lots of little things wrong which will put them off. You notice all the flaws when you live in a house.

FTB_Help

Little flaws would not put them off if they really love the place, theres a few little flaws with the one im buying (including needing to replace the bay window) and im happy with paying for that myself when i move in as i really love this place, so if your buyers are really keen, im sure they are, then the little things shouldn't put them off

Jaybee_16

Recently sold my flat to a couple. The original survey was for mortgage purposes and the surveyor was at the flat about 10 minutes. The buyers later wanted a full structural survey because their solicitor recommended this to all buyers. Two surveyors were at the flat for almost 2 hours, one doing the inside and the other outside. No problems.