Survey report - what to do?

JuanBallOfWimbledon

Hi all, 

After searching for a house for a long time, we found a really lovely one, had our offer accepted, survey came back with a fair few problems but it’s an old house and we expected that. So all was good. Then, less than a week before we’d agreed to exchange and complete on the same day, the vendor pulled out as they'd decided to turn it into an Air BnB. 

We were gutted, but found a lovely bungalow a couple of streets away, and again had our offer accepted (thankfully the market has slowed dramatically here, 3 bed semis that you’d not have even managed to view last summer are still up months later). We organised a level 3 survey as it’s an old property and there were a few bits that I was a little unsure about upon viewing. The report has now come back and it’s long. Lots and lots of ‘urgent’ work needs doing, suspected beginnings of movement amongst other big and/or inconvenient problems such as defective ferrous metal lintels, rotten timbers in roof, roof covering badly deteriorated, suspended timber floors, particularly in one room are in a bad way etc. 

Again, we expected issues and although we’re FTB, we're long in the tooth and thus not particularly skittish, so I would have organised a structural engineer to check the potential movement and accepted the rest, I think. BUT, the surveyor stated 3 times within the report that he ‘strongly recommends’ we don’t continue with this purchase, and several more times states that there will be better properties available. What I want to ask is, is this usual? It’s really thrown us. If it’s a common/back covering thing, we’ll stick with plan A, but I thought you guys may be able to advise or give opinions/share experience. 

Many thanks in advance 👍🏻

canaldumidi

It's unusual and hence I would take his advice seriously.

It's why you paid £735 for a professional to report on the property.

JuanBallOfWimbledon

canaldumidi said:

It's unusual and hence I would take his advice seriously.

It's why you paid £735 for a professional to report on the property.

Thank you. I think I’m now so paranoid about being that ‘easily spooked FTB’ I read about daily, that I doubted myself and the surveyor there. How things can change within just 1 week when buying a property, eh? Ah well, back to the drawing board. 

I suddenly feel out of my depth again, I thought we were past this stage. Anyway, cheers for the time taken in replying. It’s greatly appreciated. 

pinkshoes

Have you notified the vendor of the survey findings? 

If they're nice it might be worth letting them know why you're pulling out, as it means that if anyone else gets a survey it is likely to result in the same thing and they might be better off getting the property fixed or looking for a cash buyer.

I'm assuming the vendor isn't willing to take a HUGE price drop?? E.g. knock the bungalow down and start again! 

caprikid1

"I'm assuming the vendor isn't willing to take a HUGE price drop?? E.g. knock the bungalow down and start again! "

The problem is for many that whilst a huge price drop even might happen , that often does not magic up the money to fund the works.  If you are using a 5% depostit on a £400K house a price drop of £40K only frees up £2K of cash hardly going to scratch the surface of 40K of works.

Noneforit999

caprikid1 said:

"I'm assuming the vendor isn't willing to take a HUGE price drop?? E.g. knock the bungalow down and start again! "

The problem is for many that whilst a huge price drop even might happen , that often does not magic up the money to fund the works.  If you are using a 5% depostit on a £400K house a price drop of £40K only frees up £2K of cash hardly going to scratch the surface of 40K of works.

Also, that £40k is probably more like £60k these days considering how much things have gone up. Im not sure why anybody could be bothered to take on a house that needs serious work unless they were able to do most of it themselves. 

youth_leader

I am glad your surveyor has been so diligent.  I bought a 1930's bungalow last March, and had a L3 survey which clearly stated the subvoid could not be inspected due to fully fitted carpets throughout. 

Nine months later I am repacking everything in readiness to move out so I can have all of the floors ripped out and replaced.  There is water underneath the bungalow and all of the floors are affected. The only floor that does have timber boards has wet/dry rot and woodworm. The vendor said she had made the floor surveys available, I didn't receive them.   I've just had the quote for £9K plus VAT - not including removing the shower cubicle - and when it's done I've got to pay for new carpets throughout.  I live in a very popular area and won't be able to find accommodation when it's being done, so at 65, will be camping in the garden.  Not what I expected!  

youth_leader

Does any of the bungalow have a flat roof?  The 'new' 2019 flat roof on the lounge/kitchen extension here was blown off in Storm Arwen.  The lounge ceiling came down shortly afterwards as the 'make safe' wasn't able to make it watertight.  The quote for a resin roof replacement, rebuild of the ceiling and new guttering and soil pipe was £10,286 including VAT.  Very luckily for me the insurer's paid the full quote.  

FreeBear

youth_leader said:  I live in a very popular area and won't be able to find accommodation when it's being done, so at 65, will be camping in the garden.

Can you borrow a caravan from somewhere ?

Might need temporary planning permission whilst living in a caravan, but hopefully, it will just be for a few months during the summer. The alternative, a large summer room (glorified shed) at the bottom of the garden.

nicmyles

As others have said, it is an unusual thing for a surveyor to say and you may wish to take it seriously, but:

When I quizzed the surveyor on a couple of points in the survey on the house I now live in, he did try to dissuade me from buying. Said that the amount of issues was more than he'd expect even on a 100-year-old property. But honestly, I didn't see it, bought the house and after several years here, have to say none of his concerns have so far come to pass. i.e. normal wear and tear and maintenance I'd expect from a house this old. So I do think you need to take your own view, while taking into account the advice you've been given.

bris

When the professional tells you to walk away you walk away, anything else is a huge gamble.