Help with concerning homebuyers report :(

SCB2012

Hi!
We are first time buyers who (after loads of searching) managed to find a property we really like. 

We paid for a homebuyers report and it is full of 3s. Key concern issues include extensive damp (Party walls, bedroom, chimney stack, kitchen,etc) and issues with the roof caused by leaking. It has also been undervalued by £5000.

Long story story short... what the heck do we do now? We love the house, but certainly don’t have access to much additional money to do any work. 

Where to start? Feeling really deflated. 

AdrianC

What does the report actually say?

Damp doesn't just happen. It comes from somewhere, and most sources are really obvious. External walls are often gutters and downpipes or high ground levels and greenery broaching the DPC.

A leaky roof will certainly cause damp issues... Have you booked a roofer to come and look at it and give a quote?

Remember that the £5k downvalue takes the condition into account. How near your maximum LtV are you? What proportion of the asking price is that £5k?

GrumpyDil

I'd suggest posting more detail of the 3's and speaking to the surveyor directly to get his/her view of them as often reports make the situation sound much worse than it really is.
As regards the valuation the impact depends upon the value of the property so for a 100000 property it has more impact than on a 500000 one.  Does it change your LTV and affect your mortgage or keep you in the same band? If finances are that tight that the impact is significant then maybe reconsider the purchase but you can always speak to the seller to see if you can renegotiate the price. 

macman

All properties, unless new builds, will need some work doing to them at your expense. And, if you get it for £5K less than market value, that £5K will buy a lot of damp proofing, though probably not a new roof, if that is really what is needed, rather than just some repairs.
You should always go into a property purchase with at least £2K in reserve for emergency repairs that could not have been foreseen.

SCB2012

Thank you. Some context: 
- Asking price £170000. Due to closed bids/so few houses in the area, the final agreed price was £175000. 

- House built around 1900.
Some quotes:
- Excessive damp caused by porous chimney masonry;

- Rotted timber guttering;
- High damp readings to ground floor walls caused by failure of the damp proof course. Possible decay in timbers;
- Leakage in the chimney flashing;
- Poor ventilation in the roof space;
- Holes in party wall (roof);
- High damp reading in bedroom ceilings;

- Dry linings to outer walls concealing defects / damp;
... just a snapshot. 

AdrianC

So the downvaluation is less than 3%... Well within margins of error and opinion.

You need to get somebody to go and look at the chimney. Not a huge job - the scaffolding's the biggest bit of it.
That's the bedroom ceilings dried out.
While they're up there, facia boards and guttering are quick and simple.

The party wall in the loft has not been air-tight for over a century. It's never been a problem before. Extra ventilation up there is mostly needed because insulation's blocked the original off.

Then there's all the "Well, maybe" speculation...
DPC failed... far more likely to be high ground levels - quick and easy DIY with a spade, unless some idiot's paved above it, in which case you just need to cut the paving back.
Plasterboard concealing defects... Remove the cause of the damp, and...

JJR45

SCB2012 said:

Thank you. Some context: 
- Asking price £170000. Due to closed bids/so few houses in the area, the final agreed price was £175000. 

- House built around 1900.
Some quotes:
- Excessive damp caused by porous chimney masonry;

- Rotted timber guttering;
- High damp readings to ground floor walls caused by failure of the damp proof course. Possible decay in timbers;
- Leakage in the chimney flashing;
- Poor ventilation in the roof space;
- Holes in party wall (roof);
- High damp reading in bedroom ceilings;

- Dry linings to outer walls concealing defects / damp;
... just a snapshot. 

It's a fair amount for a first time buyer to take on to be honest. From experience on an older house, when you start one job you find another.
Unless you have the money to sort it asap (I would say at least £10k) you maybe better off looking at a house with less issues. 

lookstraightahead

Is there actually a DPC that's failed, or isn't there one? 

AdrianC

lookstraightahead said:

Is there actually a DPC that's failed, or isn't there one? 

1900 would have had a DPC originally - they were required from the late 19th century. It would have been slate... which doesn't "fail".

SCB2012

My head is spinning! Thank you so much for the advice so far. 

edgex

Old unused chimneys are often the source of damp issues on the walls they are on.
When they were in use, the heat from the fires dried them out, so it didn't matter so much that they were exposed to all the weather. Now that they're not used, the bricks don't dry out, so get wetter & wetter, with moisture & even running water on the inside down the flue. The moisture/dampness even spreads into adjoining brickwork, & if it's an external wall can be seen at the bottom of the chimney on the lower floors.

If they're only your chimney/s, & you won't use them, have them removed. It costs about the same as fixing them, but completely removes the potential for any problems.