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Structural survey AHEAD of offering(4 Posts)
We have found our dream house: it’s a non-listed stone cottage that requires fully updating and is set in several acres of land. It is part of an informal tender, culminating in sealed bids in the middle of next month. We have been assured it will run to this date and they’ll be accepting no back-handers. There has been huge interest (60+ viewings booked in less than a week of it coming to the market).
We are thinking of forking out for a structural survey ahead of submitting our offer so that it shows we’re taking it seriously, and that (should everything come back ok) that we’re obviously not going to back out subject to survey / try and knock money off in the future. Our bid will already be based on a much more solid judgement.
Do you think this is sensible, or a crazy idea to invest nearly £1k when it doesn’t actually give us any assurances that we’ll be successful (it’ll just hopefully strengthen our position)?
I would suspect from your description that most of the competition intend to knock down the cottage or alter it so much that the structural integrity is of little matter.
It sounds like the type of property developers are drawn to and sell for cash. I could be wrong of course.
Personally I wouldn’t get a survey and I think agents may view it as a sign of naivety rather than a sign of serious intent.
Agents will often know exactly who to approach with properties like this for an easy life and swift no fuss commission.
It could all work out for you and maybe I am wrong about it. Good luck!
I wouldn't bother. You could end up making it more likely that you won't get chosen.
You my have the scenario where everyone else is offering around £100 but know they may knock money off during the process if there are horrors on the survey.
You'll have the survey and know it will cost you £10 so you only bid £90.
The seller is faced with a definite difference of £10 or taking a flyer that someone else may not ask for such a big difference.
Thank you both. I didn’t think of it from that perspective.
The only saving grace is that there is a covenant on the land preventing it from being developed on.