Buyer requesting a home buyers survey just before completion stage

[Willowwisp23]

We agreed an offer on our house at the start of August. The figure agreed meant we were able to offer on a house which needs approx £60k/£70k of work doing to it to make it our perfect home.

Our current house was built in the late 1800s. When we moved in, there was evidence of damp in the basement. We have spent thousands rectifying this issue and feel currently there is no damp but as the house is so old, it may return/other problems will no doubt appear over time.

We are worried that our buyer has made a last minute decision to get a survey. Regardless of the results, we really are not in a position to renegotiate the price at this late stage. I imagine the survey is bound to show up something even if it is just so the surveyor can justify his price.

Our current house is four storeys, our new house only two. Due to this we have already sold a lot of our stuff as it will not all fit in the new house. Worried now it's all for nothing.

I completely understand the need for a survey but we just can't afford to accept any less for our house. Really don't want to be unreasonable or fall out with our buyers but we are quite angry this has happened now and feel so stressed with this latest development.

My husband is adamant he will not budge on any talk of renegotiation. I am slightly more accommodating although really am just very soft and give into anyone. Any advice on what you would do in this situation?

[gillybeanz]

It all depends on whether you are prepared to lose a sale if they do get sticky with wanting to renegotiate.
Maybe this was their plan all along as it's pretty late in the day to be ordering surveys.
August too was ages away and you should be completed or very near to it now.
If solicitors have all the paperwork from yourselves and you are ready to compete, speak to them and ask for completion date, or set one yourself.
Sometimes it's easier to go back on the market than wait around for flaffers.

[HereIAm20]

Have you exchanged? Your post says just before completion so they are legally obliged to complete in accordance with the terms of the contract if you have exchanged. Or do you mean just before exchange?

[Willowwisp23]

Don't want to lose the sale but my husband is so angry that he is being totally inflexible. He too thinks this may have been the plan all along.

HereIAm, haven't exchanged yet. All searches have been done and contracts signed but not exchanged. Solicitor says things can be changed right up until the moment the contracts are exchanged so they're well within their rights just very bloody late!

[wowfudge]

You may well be worrying about nothing. Wait and see what happens.

[PigletJohn]

If they are buying a house, they ought to get it surveyed. They would be silly not to. If they had the sense of a flea they would have done it as soon as the offer was accepted.

You may as well let them have the survey, and be mentally prepared to put it back on the market if they try to weasel away.

[Willowwisp23]

Fudge, I know. Survey is end of next week. Fingers crossed all is ok.

[wowfudge]

All you can do is think about your strategies for dealing with anything that is thrown up by the survey. Anything major/noticeable should have been highlighted on the mortgage company's valuation survey.

[Willowwisp23]

wow it's funny you should say that. The reason behind this survey is because they say their lender will not pass on the information to them which was gathered through the valuation. All very strange.

[specialsubject]

how odd that they haven't done a survey yet. And yes, there will be something found.

doing this just before exchange is a sign of players. They will almost certainly drop their offer at the eleventh hour.

unfortunately nothing is guaranteed until exchange. Fingers crossed for you.

[namechangedtoday15]

But if they've had a lender's mortgage valuation, and the lender has valued it at the price that was agreed (which it must have done or else you'd have heard about it by now because presumably they'd have wanted to renegotiate at that point) they don't really have a leg to stand on even if something else is now flagged up.

[user1470997562]

I was speaking to a friend yesterday. Her survey brought up a list of things. Seller refused to lower price. She went ahead anyway.

Same with us - house had a whole host of problems. Seller refused to lower price. We had a 2nd survey on a particular aspect, really just to see what we were facing in terms of costs. And went ahead with buying it.

Here though there was a real shortage of suitable houses.

You never know. Could it be that they thought they wouldn't bother with a survey but the mortgage company is insisting on it? In the past we've had to have at least a homebuyer report for the mortgage company.

[JeVoudrais]

Survey for my house threw up some stuff but I knew they wouldn't negotiate and didn't try. Houses of a certain age + will have damp problems and always need lots of maintenance. Depends whether they're easily frightened off as to whether they still want it or not.

This is where it matters how much they want your house versus how much they've got you over a barrel. I hate house buying!

[Willowwisp23]

Well they have said not to worry, they love the house and will buy it and can't wait to move in. No discussion on renegotiations however.

Buyer actually emailed me last night explaining and I am still to respond. Should really say something but don't know how to play it. So frustrating!

user voudrais hopefully we will have a similar experience.

Think I've shot myself in the foot though by kicking off before the survey has been done. Looks like I'm hiding something which I genuinely am not!

[AnnaELC]

We had a full survey done as soon as we offered on the house we are buying, it showed loads of things which we already had an inkling were there but the only thing we asked to be sorted was a new electrical consumer unit and test. The rest we can deal with. We saw the vendor the other day and she said she was so worried after the survey that it made her poorly, when really we were just looking at whether we could extend on the grounds! Its a very stressful time for everyone I think, and the slightest thing sets us off again worrying.

[Willowwisp23]

anna I can relate to your seller. My oh has a stress related condition and had a massive flare up last night. I can't eat and no-one including my 15mth dd slept last night!

[namechangedtoday15]

But its not that they haven't done a survey, you said they've had a lender /mortgage valuation. This is a 2nd survey (a homebuyers survey)?

[Willowwisp23]

Yes this is a home buyers survey. Seemingly their mortgage company will not tell them the results of the valuation. My solicitor said this sometimes happens which is very unhelpful to the buyer.

[DaisyBD]

I'm embarrassed to admit we did a similar thing when we bought our current house, we ended up really pissing off the sellers but they didn't cover themselves with glory either. They'd only been in the house 18 months when they sold it, so we asked them if they'd share their structural survey results with us (stupid idea in retrospect) and they said no, but nothing had shown up on it. We took them at face value until our solicitor insisted that we get a proper survey done (the valuation survey hadn't shown anything to worry about) which was close to exchange time. This showed all kinds of things including a roof that was falling in, so I did renegotiate the price at the last minute. The sellers hated us and left the house in a right old mess, but I felt that they had deliberately misled us. It was all horrible and very very stressful. You have my sympathy. I'm still not quite over it four years later, but I wouldn't be so naive next time, I'd get the survey done as soon as I could. Buying and selling houses is awful.

[Willowwisp23]

daisy that sounds awful. If this goes through ok, I don't want to move ever again. Well, until I forget the stress and spot another 'perfect house'!

[0hCrepe]

We had buyers who wanted to get a reduction following a funding on the survey, very very close to completion. It was a mention of possible asbestos which is standard in a home buyers survey for the kind of house we were selling. We agreed to pay for a survey and also put aside a set amount of money if further investigations found there was asbestos. There wasn't and we kept the money. It really annoyed me though as they'd already got it for a good price.

[ApplesTheHare]

Our mortgage advisor has told us to hold fire on a full survey until after mortgage valuation survey and (hopefully!) approval even though we've known we wanted one since we first saw the house as it's 350 years old. I'm hoping that waiting doesn't annoy our vendors...

[thenewaveragebear1983]

We had a full homebuyers survey- purely for our own peace of mind. We have had no intention of asking for any money off, and it did show up things we wouldn't have seen on the surface, and that will cost money to rectify. All we have asked for us electrical survey, boiler service, and log burner service (things the vendor should really have been doing every 12 months anyway).
Try not to worry. Our buyers are having a damp survey on our property which concerns me more. But I'm trying not to be too worried.
We have decided that if they want to knock their offer down, we will consider it if the survey shows things that were not visible on viewings. We have already been very clear that the offer we accepted is representative of the fact that x,y,z needed doing.
Your buyers must be prepared to do some maintenance and this must also be factored in, as most jobs shown by the survey will come under 'maintenance required' rather than urgent structural work.
I am really not looking forward to their survey, but once it's done, we are ready to exchange, so I just want it over with.

[thenewaveragebear1983]

Also, the valuation survey from the bank is sometimes an 'undisclosed' survey, which means they don't produce a report, they just value the house. Ours was like this, so we didn't find anything out about the house.

[neily12]

Hi, as many others have said, it's wise to get a survey although strange timing.

It's worth remembering that the price you have agreed is reflective of the condition of the house. Had the property been in a perfect condition, the price would have been different.

Also, the Home Buyers report is written from a very cautious angle - when reading it, think that the surveyor wants to ensure they don't get sued for missing anything. Therefore there are huge caveats and potentials - "there could be...", "property of this age/state often have..", "a full investigation of ... is recommended". Appreciate it'll be your buyer reading this not you, but it's worth having this thought in your mind.

[thenewaveragebear1983]

Totally agree with this- our HB survey was basically a list of precautionary advice and things we should bear in mind, and a list of things we really should get checked for more information. It was still worth doing, but they aren't necessary really, and aren't advised if buyers are planning extensive renovations for example.