ftb in need of help re: survey

mandiedavy

Hi everyone,
I am trying to buy a house for the first time and i need advice. The house we are after is chain free, we have had our offer accepted, and found a solicitor and a mortgage. My mortgage advisor phoned me today as the survey has been done and he says we have to get a report done by a builder, an electrician and a structural engineer. The words damp proofing and timber were also mentioned. I didn't catch half of what he said as i had my 4 yr old yapping on at me at the same time and i also didn't want to appear thick to him so i didn't tell him i had no idea what he was on about!
Do i have to get these reports or does the vendor?
Do i have to pay for them or does the vendor?
and if the work is major what happens then?
I seriously can't afford any more expense :mad:

Any help appreciated,
Regards,
Mandie.

terrierlady

never ever be embarrassed to be a ftbyr or to ASK questions, the only way to learn is to ask, why should he think your thick?
more likely to think how intelligent you are. Ring them back and ask them to repeat the information , maybe the house has woodworm, old electrics/plumbing etc?
Did you receive a copy of the survey? if not, ask to see a copy, if you go to the office take someone along with you, two sets of ears are better than one.

Doozergirl

:hello:

You need to establish whether the mortgage company are telling you to get these reports done before they approve the loan. If they will approve the mortgage without these reports, there is no major problem. Most surveys seem to say the same things though and it never fails to frighten first time buyers. There's a very similar thread to yours here which is well worth a look. http://forums.moneysavingexpert.com/showthread.html?t=74193

If there is a major problem your mortgage company will either refuse to lend on this particular house or retain part or all of the mortgage until remedial works are carried out. In which case you have to find another house, insist the vendor carries out the work or bite the bullet, renegotiate the price and do it yourself!

You can try and ask the vendor to pay for these reports but they don't have to.

HTH!

bridiej

We had to have a report done on the ties in the cavity walls. We paid for it ourself, but then it was only £50.

mandiedavy

thanks everyone.
i have just got the copy of the survey through from the lenders and they want the reports before they will give us the mortgage, so it doesn't look too good.
mandie.

bridiej

try not to worry too much, it might just be to cover there backs