Survey results - what to do?

SameOldRoundabout

Walk away. If you were getting it for a price consistent with a full renovation it wouldn’t be that awful, but if sellers are already wanting top whack for a property needing work I can’t see them coming down enough. Divorcing couples can be nightmare vendors anyway. Walk, fast, find a new place with fewer problems. 

Nebulous2

Surveyor's estimate of costs is just that. Once you get builders in, firm quotes, overruns on work, difficulty sourcing materials etc it could easily extend beyond your £50k. Or if you are very lucky it could come in under it. Plus paying a mortgage for months before you can live in it while the work is being done. 

AdrianC

MaggieMags said:

We’ve since had the building survey results back, and it’s a sea of red and priority 1. I’ll list all of the red/priority issues below:

1) Roof needs replacing, including all timbers.
2) Serious damp problems, some areas had moisture readings of up to 85%.

3) Cracked lintel over front door.
4) Metal lintel over upstairs window needs replacing and is damaging brickwork and window frames. 

5) Many spalled bricks.
6) All pointing needs redoing.
7) All guttering and down pipes need replacing.
8) Windows and doors all need replacing (we double checked this with a window fitter who agreed). 

9) Full rewire needed (confirmed by electrical survey which was carried out on the same day).
10) Floorboards are rotten in a few places.
11) A wall has been taken down between lounge and dining room to create a through room, this was done incorrectly (vendor said he did this himself when we viewed) and is unstable. 

12) Woodworm and dry rot in cellar. 

Some of that lot's relatively minor, just a bit inconvenient.

Some of it is so structural that I suspect the place is probably unmortgageable, so it's academic whether he agrees or not. Either way, I'd be walking. This house is not going to be habitable while that work is going on.

What proportion of the agreed offer is the £50k?

There are no "laws on passing around surveys". Only the original client has any comeback against the surveyor for inaccuracies.

MaryNB

SameOldRoundabout said:

Walk away. If you were getting it for a price consistent with a full renovation it wouldn’t be that awful, but if sellers are already wanting top whack for a property needing work I can’t see them coming down enough. Divorcing couples can be nightmare vendors anyway. Walk, fast, find a new place with fewer problems. 

My colleague tried to buy a house from a divorcing couple. It was difficult process. In the end they sellers pulled out the day before they were due to exchange because the husband changed his mind and decided to buy his wife's share instead of selling the whole property.

Irishpearce26

MaggieMags said:

Irishpearce26 said:

As FTBs you don't want this type of project, also if the seller was annoyed you got it 2% below asking then he isn't going to shift on £50k. No a house seller does not have to disclose any problem with a house unless its regarding disputes/covenants etc. The house could practically be falling down and they legally aren't required to say anything, its the buyers job to do due diligence.

Surveys!!! If you're really keen get a specialist in first before you do anything, surveyors exaggerate and aren't specialist so its all ifs ands and maybes at this stage.

Ah, ok. My neighbour said that the laws around passing on surveys etc have changed in recent years and you now have to. A quick Google brought up several articles which seemed to confirm this (can’t link, because I’m too new). However, I’m no expert, and wanted to be sure it was correct & I wasn’t misunderstanding. Thanks for setting me straight there. Good to know. 

Share with the seller? That's the first I have heard of anyone having to share a survey they paid for unless they wanted to or to show the seller why they want to negotiate.

davidmcn

Irishpearce26 said:

MaggieMags said:

Irishpearce26 said:

As FTBs you don't want this type of project, also if the seller was annoyed you got it 2% below asking then he isn't going to shift on £50k. No a house seller does not have to disclose any problem with a house unless its regarding disputes/covenants etc. The house could practically be falling down and they legally aren't required to say anything, its the buyers job to do due diligence.

Surveys!!! If you're really keen get a specialist in first before you do anything, surveyors exaggerate and aren't specialist so its all ifs ands and maybes at this stage.

Ah, ok. My neighbour said that the laws around passing on surveys etc have changed in recent years and you now have to. A quick Google brought up several articles which seemed to confirm this (can’t link, because I’m too new). However, I’m no expert, and wanted to be sure it was correct & I wasn’t misunderstanding. Thanks for setting me straight there. Good to know. 

Share with the seller? That's the first I have heard of anyone having to share a survey they paid for unless they wanted to or to show the seller why they want to negotiate.

No, they mean the seller having to disclose to future buyers that there's been significant adverse stuff identified in previous surveys. Which I think is the case, though as with many things, how on earth do you enforce it if you haven't had contact with the earlier buyers?

Irishpearce26

davidmcn said:

Irishpearce26 said:

MaggieMags said:

Irishpearce26 said:

As FTBs you don't want this type of project, also if the seller was annoyed you got it 2% below asking then he isn't going to shift on £50k. No a house seller does not have to disclose any problem with a house unless its regarding disputes/covenants etc. The house could practically be falling down and they legally aren't required to say anything, its the buyers job to do due diligence.

Surveys!!! If you're really keen get a specialist in first before you do anything, surveyors exaggerate and aren't specialist so its all ifs ands and maybes at this stage.

Ah, ok. My neighbour said that the laws around passing on surveys etc have changed in recent years and you now have to. A quick Google brought up several articles which seemed to confirm this (can’t link, because I’m too new). However, I’m no expert, and wanted to be sure it was correct & I wasn’t misunderstanding. Thanks for setting me straight there. Good to know. 

Share with the seller? That's the first I have heard of anyone having to share a survey they paid for unless they wanted to or to show the seller why they want to negotiate.

No, they mean the seller having to disclose to future buyers that there's been significant adverse stuff identified in previous surveys. Which I think is the case, though as with many things, how on earth do you enforce it if you haven't had contact with the earlier buyers?

Exactly. The seller may not have the survey so therefore cant share it. I don't think I would be giving the seller my survey if I wasn't buying the house unless they paid me for it.

p00hsticks

Irishpearce26 said:

MaggieMags said:

Irishpearce26 said:

As FTBs you don't want this type of project, also if the seller was annoyed you got it 2% below asking then he isn't going to shift on £50k. No a house seller does not have to disclose any problem with a house unless its regarding disputes/covenants etc. The house could practically be falling down and they legally aren't required to say anything, its the buyers job to do due diligence.

Surveys!!! If you're really keen get a specialist in first before you do anything, surveyors exaggerate and aren't specialist so its all ifs ands and maybes at this stage.

Ah, ok. My neighbour said that the laws around passing on surveys etc have changed in recent years and you now have to. A quick Google brought up several articles which seemed to confirm this (can’t link, because I’m too new). However, I’m no expert, and wanted to be sure it was correct & I wasn’t misunderstanding. Thanks for setting me straight there. Good to know. 

Share with the seller? That's the first I have heard of anyone having to share a survey they paid for unless they wanted to or to show the seller why they want to negotiate.I

The OP may be referring to the fact that if the estate agent is aware that a buyer has dropped out because of poor survey results, i think they may now be obliged to pass that on to any future potential buyers who ask whether previous buyers have dropped out.

davidmcn

Irishpearce26 said:

davidmcn said:

Irishpearce26 said:

MaggieMags said:

Irishpearce26 said:

As FTBs you don't want this type of project, also if the seller was annoyed you got it 2% below asking then he isn't going to shift on £50k. No a house seller does not have to disclose any problem with a house unless its regarding disputes/covenants etc. The house could practically be falling down and they legally aren't required to say anything, its the buyers job to do due diligence.

Surveys!!! If you're really keen get a specialist in first before you do anything, surveyors exaggerate and aren't specialist so its all ifs ands and maybes at this stage.

Ah, ok. My neighbour said that the laws around passing on surveys etc have changed in recent years and you now have to. A quick Google brought up several articles which seemed to confirm this (can’t link, because I’m too new). However, I’m no expert, and wanted to be sure it was correct & I wasn’t misunderstanding. Thanks for setting me straight there. Good to know. 

Share with the seller? That's the first I have heard of anyone having to share a survey they paid for unless they wanted to or to show the seller why they want to negotiate.

No, they mean the seller having to disclose to future buyers that there's been significant adverse stuff identified in previous surveys. Which I think is the case, though as with many things, how on earth do you enforce it if you haven't had contact with the earlier buyers?

Exactly. The seller may not have the survey so therefore cant share it. I don't think I would be giving the seller my survey if I wasn't buying the house unless they paid me for it.

They don't necessarily need to have a copy, just be aware of what it said.

ele_91

If it’s already priced at the top end for the street, presuming that is compatible in terms of size etc then even making the improvements might not increase the value and you may not make the money back. For this reason and if the work genuinely needs doing I would be seeking a price reduction or walking away.