Flat back on the market

cherry76

The flat my son is interested is back in the market after 5 months. EA said nothing major with the survey but the buyers circumstances have changed. He is still interested can he offer to buy the survey at a discount with surveyors consent or get his own, What would anyone do under these circumstances? Strange put back on the market at a 25k more. Thanks

DayDreamerandGeneralWaster

The survey is what 500 quid? Usually they are for the use of the person who commissioned it.

Scotbot

1 in 3 sales fall through for various reasons. No harm in asking but the survey is purchased by the buyer not the seller so it is unlikely the seller has a copy.As for 25k extra dream on 

Jude57

cherry76 said:

The flat my son is interested is back in the market after 5 months. EA said nothing major with the survey but the buyers circumstances have changed. He is still interested can he offer to buy the survey at a discount with surveyors consent or get his own, What would anyone do under these circumstances? Strange put back on the market at a 25k more. Thanks

The surveyor has no contractual relationship with your son so if anything in the report is inaccurate or misleading your son has no chance of being compensated. There's nothing inherently strange about a property coming back on the market quickly. People's circumstances can change instantly due to bereavement, ill health, job loss, relationship breakdown, none reflects a problem with the property itself but anyone buying a property should do their own research by getting their own survey done. I'm more surprised that you seem to be saying the sale price has gone up by £25K! Does that reflect the local market? Is it really worth £25K more than it was 5 months ago? Really?

ThisIsWeird

Prices are creeping up in places like London, I understand. £25k sounds like a lot, but it all depends on the actual asking price. It could just be 1%...

sammyjammy

I'd buy it but wouldn't have it replace my own due diligence, it could be a quick and easy win to walk away if it has any major red flags, assuming they'll sell it to him for what he is willing to pay!

cherry76

Levels of the flooring flagged during survey but this was also put down to the age of the building and Highgate being on a hill and the subsoil being clay which is renowned for moving. Does this means subsidence and is it something he should be concerned?

cymruchris

Mine has fallen through twice - and is now on the third try. Both times not the fault of the property. My (third time lucky) buyers are buying both the previous survey and the previous searches from the last buyers solicitors to save some cost. (Not all solicitors will do this though - it all depends on yours whether they will).

eddddy

cherry76 said:

He is still interested can he offer to buy the survey at a discount with surveyors consent or get his own, 

If your son contacts the surveyor, the surveyor might agree to transfer the report to your son - for a payment.

For example, the original survey might have cost, say, £500 - but the surveyor might transfer it to you son for another £200. Then your son can take action against the surveyor, if required.

But you'd need to find out who the surveyor was, and the previous buyer has no real incentive to tell you.



If the previous sale fell through because of an adverse survey (or something else adverse about the flat), the estate agent would be breaking consumer protection law if they didn't tell you - but I suspect some estate agents don't worry too much about this type of law.

So maybe your son should protect themselves a bit by asking the estate agent in writing (email), something like "Can you confirm the reasons that previous sale fell through" - and look for them to reply in writing (email).

cherry76

cymruchris said:

Mine has fallen through twice - and is now on the third try. Both times not the fault of the property. My (third time lucky) buyers are buying both the previous survey and the previous searches from the last buyers solicitors to save some cost. (Not all solicitors will do this though - it all depends on yours whether they will).

Thank you for this info, if his offer is accepted it’s worth asking his solicitor to look into this. Or may be he should the EA first.

cymruchris

cherry76 said:

cymruchris said:

Mine has fallen through twice - and is now on the third try. Both times not the fault of the property. My (third time lucky) buyers are buying both the previous survey and the previous searches from the last buyers solicitors to save some cost. (Not all solicitors will do this though - it all depends on yours whether they will).

Thank you for this info, if his offer is accepted it’s worth asking his solicitor to look into this. Or may be he should the EA first.

In my case, the estate agent got in touch with the previous solicitors and linked them to the new solicitors. But as I say some solicitors insist on new searches etc - so it doesn’t always work, but certainly worth a try to save a few pounds.