Understanding Urgent/Significant repairs in a homebuyers report.

Harvs98

Greetings,

I am currently going through a purchase of a flat at the moment and have got back the valuation and Homebuyers report. Both have come back as saying the property is worth the amount agreed.

At the back of the homebuyers report, there are recommendations for urgent attention that should be done before exchange of contracts e.g, Obtain quotations on getting electricals, gas, heating and drainage checked, also 'removing polystyrene from internal walls'.

Does this mean, once I obtain quotations for these - I should renegotiate a cheaper price to reflect the work I need to do? Or go ahead knowing that it will cost £x to fix?

Also, how do you know if a survey has passed/failed? (I have a mortgage offer following the valuation for the agreed amount). Sorry, I am a FTB so i'm new to all this.

silvercar

Both have come back as saying the property is worth the amount agreed.

so there will be little room for negotiation.

Obtain quotations on getting electricals, gas, heating and drainage checked,

All surveys say this, whether the costs of getting them checked outweigh the risk of finding something major needing fixing is for you to judge.

also 'removing polystyrene from internal walls'

Presumably you saw the polystyrene when you viewed so can't really say you want a price reduction for something you knew about.