Bad survey

Bigphil1474

Our house wiring is at least 40 years old but still okay. We had the consumer unit changed 2 years ago for £350 (cash).

OP, the estate agents set the price based on what they think they can sell it for with a bit of wriggle room. The survey tells you everything that is wrong with the house as most sellers won't know half the stuff. Even then, the survey is usually very over cautious and will list every fault. Key thing would be to look at the surveyors valuation - if they have valued it at what you are paying with all the faults listed, then you know where you stand. If they value it at £10k below what you are paying due to the works required then you have a bargaining position. In some ways, knowing a house needs repairs and getting them done yourself might be more beneficial than someone having done the work before but to an unknown standard. 

DayDreamerandGeneralWaster

How does what you agreed to pay compare with prices in the immediate area?

No host is in perfect condition. Even new builds can have multiple faults. 

propertyrental

Bigphil1474 said:

Our house wiring is at least 40 years old but still okay. We had the consumer unit changed 2 years ago for £350 (cash).

OP, the estate agents set the price based on what they think they can sell it for with a bit of wriggle room. The survey tells you everything that is wrong with the house as most sellers won't know half the stuff. Even then, the survey is usually very over cautious and will list every fault. Key thing would be to look at the surveyors valuation - if they have valued it at what you are paying with all the faults listed, then you know where you stand. If they value it at £10k below what you are paying due to the works required then you have a bargaining position. In some ways, knowing a house needs repairs and getting them done yourself might be more beneficial than someone having done the work before but to an unknown standard. 

But that's what you pay a surveyor for. The surveyor is not being 'over cautious', he is doing what he's paid to do so that you, the buyer, know as much as possible about the house you are buying.

That does not mean that everything listed leads to a price reduction. Nor does it mean that you, the new owner, must remedy everything listed. It simply educates you, leaving it up to you to decide whether each 'fault' is sufficiently bad to justify a price reduction Vs whether it's a maintenance/improvement you might get round to in a short/ medium or long term, Vs whether it's something you might just ignore!

kinger101

I think it's a mistake for you to ask the vendor to arrange the structural engineer's report.  At the end of the day, you want to use the report to determine whether you should proceed with the purchase.  In your position, I'd want to have the contractual relationship with an engineer I had selected.  If the engineer's report negligently fails to mention something important (and expensive) which I become aware of after purchasing, I'll have legal options.  If I rely on a report obtained by my vendor, then I have no comeback.

More broadly, an 1880's property is going to have some some issues and maintenance requirements. I wouldn't expect to negotiate price if the surveyors pushes at an open door.  I can see for myself that electrics are old by looking at the distribution board.  So I think it's realistic only to negotiate on things that would not be obvious to the lay person from their own viewing.

user1977

kinger101 said:

I think it's a mistake for you to ask the vendor to arrange the structural engineer's report.  At the end of the day, you want to use the report to determine whether you should proceed with the purchase.  In your position, I'd want to have the contractual relationship with an engineer I had selected.  If the engineer's report negligently fails to mention something important (and expensive) which I become aware of after purchasing, I'll have legal options.  If I rely on a report obtained by my vendor, then I have no comeback.

The report can be readdressed to the OP - assuming they go ahead, they can ask the vendor to arrange that.

kinger101

user1977 said:

kinger101 said:

I think it's a mistake for you to ask the vendor to arrange the structural engineer's report.  At the end of the day, you want to use the report to determine whether you should proceed with the purchase.  In your position, I'd want to have the contractual relationship with an engineer I had selected.  If the engineer's report negligently fails to mention something important (and expensive) which I become aware of after purchasing, I'll have legal options.  If I rely on a report obtained by my vendor, then I have no comeback.

The report can be readdressed to the OP - assuming they go ahead, they can ask the vendor to arrange that.

But that does not create a contract between OP and the structural engineer.  

user1977

kinger101 said:

user1977 said:

kinger101 said:

I think it's a mistake for you to ask the vendor to arrange the structural engineer's report.  At the end of the day, you want to use the report to determine whether you should proceed with the purchase.  In your position, I'd want to have the contractual relationship with an engineer I had selected.  If the engineer's report negligently fails to mention something important (and expensive) which I become aware of after purchasing, I'll have legal options.  If I rely on a report obtained by my vendor, then I have no comeback.

The report can be readdressed to the OP - assuming they go ahead, they can ask the vendor to arrange that.

But that does not create a contract between OP and the structural engineer.  

It doesn’t need to. It establishes a duty of care. Pretty commonplace for parties other than the original client to be able to rely on surveys etc (eg Home Reports in Scotland).

jonnydeppiwish!

Nothing particularly wrong with that survey considering it’s 140 years old