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Damp and timber surcey

(5 Posts)
anotherdayanothersquabble Tue 14-Jul-15 22:07:34

Our buyers have been asked to have a damp and timber survey as damp was found in three places in the house and the survey highlighted the age and state of the wooden sash windows. It's a Victorian property with historical issues we have rectified but not in the places it was found this time!

Are the bank likely to adjust their valuation, refuse the mortgage or insist the work is done before the sale goes ahead?

Or is it a case of wait and see... It's so nerve wracking, this buying and selling business!!!

Lelivre Tue 14-Jul-15 22:55:46

It's probably wait and see. Both times our surveys threw up unexpected issues. The first time of the cost of the repairs has not have been subtracted from the price we would have walked away. The second time it did not matter because there was only ever one house, we asked for an allowance towards the repair but it was never going to be a deal-breaker.

You do not know the loan to value or findings of the report so it is impossible to preempt it.

Yes it is a ghastly, nerve jangling time. I hope it passes quickly for you.

anotherdayanothersquabble Wed 15-Jul-15 07:59:21

Thanks... Fingers crossed. We know the buyers knew about the possible issues and that they really want the house. They have been tenants in the house for the last four years and know it better than we do as we only lived there for three.

bilbodog Wed 15-Jul-15 12:18:31

typical survey to suggest having a damp and timber survey - doesn't mean anything needs to be done and quite often damp problems in older properties mean getting gutters and drainpipes repaired etc. It doesn't sound as if they are saying there are problems - just using the usual 'get out clauses' to suggest having everything checked as the house is old. Bear in mind that a Victorian house should retain more value with original wooden windows rather than UPVC ones.

anotherdayanothersquabble Wed 15-Jul-15 12:45:27

Thanks for the reassurance. Sadly the buyers would like to replace the wooden sash windows with uPVC. I hope they don't use the survey results to justify reducing the price by the replacement cost of the windows!!

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