Buyer’s survey happening today

ss2020jd

youth_leader said:

I had a period property and wondered if I could afford to continue living there, so I commissioned my own full structural survey before going on the market. Although it proved I would have to sell, I wasted my money having it done,  the buyer's survey seemed to be far worse, and my EA did not give my own survey any credence. 

 I would recommend asking to see survey extracts if the buyer asks to negotiate for works.

That’s a good tip, thank you. I’m sorry it came to that for you. It does show how different surveyors vary wildly. I have read that before. And the fact that buyers don’t trust a seller’s survey. It sounds like the sale still went through although your buyers were using their survey more as a negotiating tool. 

skm1981

verytired11 said:

Yes, we did have a warning sign.  The ground was starting to dip just in front of the drain.  I'm so glad we had insurance.  We've been paying that insurance for 15 years and never used it, it finally came in handy!

That's my next worry - I recently changed insurers after being with the same ones for many years.  What if they refuse to pay out?!  The way my mind spins out of control is that I go from buyer's survey to financial destitution in a matter of seconds....  I am only at the start of the process but I honestly don't think that I can move house ever again.

We had separate insurance for our drains with Homeserve, so went through them. 

Gunner276

Try not to worry about things you can't directly influence! At this point the survey is out of your control.

If there are issues they are unlikely to be so bad that you can't sell. 

ss2020jd

Gunner276 said:

Try not to worry about things you can't directly influence! At this point the survey is out of your control.

If there are issues they are unlikely to be so bad that you can't sell. 

Thanks! That’s been my mantra. Trying to put that into practice as I know worrying doesn’t help or change anything. It has really helped take my mind off at least posting on here and reading all the replies. 

ss2020jd

So the surveyor has been and apparently he was really nice. Although my husband left him to it and the surveyor let himself out a couple of hrs later, he did say some nice things about the house before my husband left. (Hopefully not lulling him into a false sense of security haha!) and how he appreciated having the loft already open for him etc. So fingers crossed he didn’t change his mind once he had got up there and had a good look at the hidden bits we can’t see! He asked about paperwork too, and building regs and my husband explained that was with the solicitor. So keeping it all crossed! Thanks again for all the replies and look forward to hearing any updates. 

Skiddaw1

Sounds very positive indeed @ss2020jd !! Here's to all being hopefully fine...

verytired11

That sounds really positive! He would have to be some kind of mean to say that and then submit a scathing report. Fingers crossed 🤞🤞

Crashy_Time

Irishpearce26 said:

It sounds like you know there are issues with the house and are worried your buyer will find out? The surveyor will pick up things and depending on what type of buyer you have will ultimately be key. If its a FTB they will likely ask for a big reduction based on the report (ask for a trade quote on the things listed as surveyors guide is usually way off), if its someone who realistically understands buying a house they will do their homework based on what is showing as urgent work.

If they do come back to you for a reduction ask them what the surveyor valued the house at. Our buyers tried to get £1000 from me for minor things but the surveyor valued the house at what they are paying in its current state.

For most people buying with a mortgage, if the bank knocks 20-30k off they won`t have the means to make up that difference.

ss2020jd

So quick update in case anyone is interested. The survey took ages to come back and sounded very thorough but thankfully the buyers have told the EA there’s nothing that overly concerns them - phew! Still a way to go but I am so relieved to hear that. All the sleepless nights and worrying can now be transferred to the next stages and packing and moving! 

verytired11

ss2020jd said:

So quick update in case anyone is interested. The survey took ages to come back and sounded very thorough but thankfully the buyers have told the EA there’s nothing that overly concerns them - phew! Still a way to go but I am so relieved to hear that. All the sleepless nights and worrying can now be transferred to the next stages and packing and moving! 

Brilliant news!  So pleased to hear this! You must be relieved.