Who pays for Structural Survey?

Denisze

user1977 said:

It would make more sense for a buyer to get their own surveys because apart from anything else, they wouldn't normally be able to rely on a survey instructed by you (though it is possible to get them re-addressed). And they might also prefer to trust their choice of surveyor rather than let you choose a "friendly" one.

Thank you so much for your reply.  We have decided to pull out of the sale as it would have probably involved 3rd party surveys if the mortgage provider agreed, which, thanks to the amazing advice on this forum we are not happy to get involved in.

Denisze

Noneforit999 said:

Have they told you what is causing the damp?

Its useless treating the damp itself until the actual cause is dealt with so if you are going to get any work done, ensure the cause of the damp is treated properly.

As above, buyer would usually pay for the report.

Realistically, you have two options:

1. Pay for the report and get the work done. Then keep the purchase price as is.
2. Get the buyer to pay for the report which will estimate the cost for them and reduce the price accordingly.

My only concern about getting the work done yourself would be spending the money and the buyer still pulling out for some reason or try to chip you down money before exchange etc. 

A nervous buyer looking at a 120 house is probably not a good combination, a house of that age is likely to have some issues to sort and will require some money later down the line. 

Noneforit999 said:

Have they told you what is causing the damp?

Its useless treating the damp itself until the actual cause is dealt with so if you are going to get any work done, ensure the cause of the damp is treated properly.

As above, buyer would usually pay for the report.

Realistically, you have two options:

1. Pay for the report and get the work done. Then keep the purchase price as is.
2. Get the buyer to pay for the report which will estimate the cost for them and reduce the price accordingly.

My only concern about getting the work done yourself would be spending the money and the buyer still pulling out for some reason or try to chip you down money before exchange etc. 

A nervous buyer looking at a 120 house is probably not a good combination, a house of that age is likely to have some issues to sort and will require some money later down the line. 

Thank you so much!

We do feel that the bracketed (in applicants name) and noted in interest of mortgage provider was overlooked by our estate agent in the report.  He was happy for us to go ahead and arrange both the survey and damp/timber report to take place next week which commissioned and paid for by us.  This would have been a waste of approximately £650 of our money for this sale as the reports would have been useless for our buyers mortgage application progression.  After advice on here we would not have been happy getting involved in re-addressing them to a 3rd party.

We have always been more than happy to reduce the price of the house accordingly once surveys have been completed and we have told the estate agent this.  Our only one real condition was that from the start we have wanted the 'normal' (for the want of a better word) process in the sale.  Buyer surveys and renegotiation.  For the second time now we have a first time buyer who cannot afford a survey.

I think you are bang on, first time nervous buyer with a 120 year property is not a good mix.  The problem here being for a 3 bedroom property in this area in the condition these buyers seem to want it in is approximately £25,000-£30,000 more and my feeling here is sadly they cannot get a mortgage for that amount.  Maybe the buyer should have been vetted better and advised to lower their expectations to a 2 bedroom or a different area for the condition they seem to want to move in to.

Oh well, we will get the cracks filled in, leave any damp course as advised, pay for a structural report and re-market it with another agent.

Thanks so much for your advice, it's much appreciated.

Denisze

tooldle said:

Agree, surveys and reports are for the benefit of the buyer. 
Do you have a photo of the crack in bedroom?
With a house of that age, i wouldn't mess about with adding a dpc. 
Where in the house are the signs of damp? 

I can pop down and take a photo of the crack if you're happy for me to message you with it?  The damo is mainly on the ground floor in the living room, I can also take a photo of that if you're willing?  The report says upstairs also but I'll have to go and have a look as to be honest I haven't noticed that.  I'll go and have a feel of the walls upstairs.

I think the damp is mainly because it's been unoccupied for 9 months.  We tried the heating on low for the cold months etc but nature and the cold spells take their course don't they.

Thanks for your reply, kind regards.

Denisze

propertyrental said:

Denisze said:

......

The mortgage valuation has come back as follows:

A damp proof report and estimate from a registered damp contractor in the applicant’s name

(e.g. a member of the Property Care Association).

A structural report and estimate (in the applicant’s name and with our interest noted on the report) from a

reputable structural engineer.(e.g. a member of the Institute of Chartered Engineers, Institute of Structural

Engineers or Chartered Building Valuer (MRICS or FRICS).

A timber report and estimate in the applicant’s name from a reputable timber contractor

(e.g. a member of the Property Care Association).

Listed above are the reports we require. Detailed below are the full comment(s) made by the valuer relating

to the reports:

......

1: Who pays for the survey in the above circumstances?

It's clear from the points in bold above

2: Bearing in mind our buyer is already nervous are we better pulling out and making better use of the £650 (ish) which would be paying for a survey and damp report by using it towards the damp course?

Buyer wants (needs) the survey soit will cost you nothing.

Also be wary about the Property Care Association!

Fill the cracks and redecorate.
Deal with the damp - do you know what is causing it?
Re-market 

You have me curious about the Property Care Association now?   Thank so much for your advice, that's exactly what we will be doing.  I'm unsure what's causing the damp.  It's mainly around 4 little patches in the the living room.  The house has been unoccupied for 9 months and although we have left the heating on low I suppose it takes it's course.

Thanks again!

Denisze

I cannot thank you all enough.  Each and every one of you have been so helpful.

SusieT

Denisze said:

propertyrental said:

Denisze said:

......

The mortgage valuation has come back as follows:

A damp proof report and estimate from a registered damp contractor in the applicant’s name

(e.g. a member of the Property Care Association).

A structural report and estimate (in the applicant’s name and with our interest noted on the report) from a

reputable structural engineer.(e.g. a member of the Institute of Chartered Engineers, Institute of Structural

Engineers or Chartered Building Valuer (MRICS or FRICS).

A timber report and estimate in the applicant’s name from a reputable timber contractor

(e.g. a member of the Property Care Association).

Listed above are the reports we require. Detailed below are the full comment(s) made by the valuer relating

to the reports:

......

1: Who pays for the survey in the above circumstances?

It's clear from the points in bold above

2: Bearing in mind our buyer is already nervous are we better pulling out and making better use of the £650 (ish) which would be paying for a survey and damp report by using it towards the damp course?

Buyer wants (needs) the survey soit will cost you nothing.

Also be wary about the Property Care Association!

Fill the cracks and redecorate.
Deal with the damp - do you know what is causing it?
Re-market 

You have me curious about the Property Care Association now?   Thank so much for your advice, that's exactly what we will be doing.  I'm unsure what's causing the damp.  It's mainly around 4 little patches in the the living room.  The house has been unoccupied for 9 months and although we have left the heating on low I suppose it takes it's course.

Thanks again!

Hopefully it was not a surveyor picking up possible condensation in the walls - half joking there in case it is not obvious  

markin

Fill the crack and paint it, Run a dehumidifier for a month, hide it for viewings, and slap 20K on the asking price.

Lots of houses got cracks is the heat waves last year.

Jonboy_1984

SensibleSarah said:

Personally, as I know my 90 year old house has some issues, I'm planning on getting a structural survey before I put my house on the market - mainly so that I can factor in whatever work it needs to the asking price and be up front with potential buyers. It's obviously not required for me to do that, but I want to make sure that I'm armed with all the info I can be so that I end up getting a fair value for it. Might seem a waste of money for some, but it'll give me peace of mind and make sure I'm prepared with my own 'evidence' if a potential buyer tries to negotiate the price down. 
If buyers want to do their own structural survey as well, no issue with that of course. I couldn't afford one when I was a first time buyer.
My house is only likely to appeal to FTB as it's a small 2-bed, so nervous buyers are likely to be the norm and hopefully already having info about what work it needs will help them either decide it's not for them and not to make an offer, or at least mean there are no big nasty suprises if they do their own survey. 

I arranged an electrical check (EICR) last year because we had a shower installed without the proper sign of paperwork in 2012. It showed the shower and all the General Electric’s were safe but the consumer unit really needed replacement to resolve a few minor issues.

It was supplied to the buyers solicitor alongside the TA6 etc and they took until a week before exchange was planned (14 weeks or so later) to decide to ask us to do the work before completion…If I hadn’t of bothered it would all of been in their court to choose whether to proceed with checks etc or not based on the answers in the TA6 etc.

Happy we handed it over in a safe position to a FTB, but was annoyed at how late they left it in the process to come to a decision and raise it…

NameUnavailable

Denisze said:

user1977 said:

It would make more sense for a buyer to get their own surveys because apart from anything else, they wouldn't normally be able to rely on a survey instructed by you (though it is possible to get them re-addressed). And they might also prefer to trust their choice of surveyor rather than let you choose a "friendly" one.

Thank you so much for your reply.  We have decided to pull out of the sale as it would have probably involved 3rd party surveys if the mortgage provider agreed, which, thanks to the amazing advice on this forum we are not happy to get involved in.

Be careful!! If you pull out the agent might land you with an invoice for their sales commission as they have provided a 'buyer'. Check the terms of your contract.

In any case why pull out? Just say you are not prepared to pay for any surveys and that is the buyers responsibility to carry out whatever pre exchange checks they wish to do. You don't have to accept a lower price either, entirely up to you - if the surveys just point out what you've already identified and factored into the asking price, why reduce further?

user1977

NameUnavailable said:

Denisze said:

user1977 said:

It would make more sense for a buyer to get their own surveys because apart from anything else, they wouldn't normally be able to rely on a survey instructed by you (though it is possible to get them re-addressed). And they might also prefer to trust their choice of surveyor rather than let you choose a "friendly" one.

Thank you so much for your reply.  We have decided to pull out of the sale as it would have probably involved 3rd party surveys if the mortgage provider agreed, which, thanks to the amazing advice on this forum we are not happy to get involved in.

Be careful!! If you pull out the agent might land you with an invoice for their sales commission as they have provided a 'buyer'. Check the terms of your contract.

They're not even a "ready, willing and able" buyer if they first needed to be satisfied with a survey which nobody has carried out.