just got my survey results for the house I'm buying and they are awful- help!!

[1moreRep]

hello
my ex and I split October 2014 and we went on the market jam 2015 and sold in March- that sale fell through but we sold again a week later.
sale is going well and I offered and got accepted on a small period terraced.
the survey is shocking thou
it needs a new roof, the attick conversion may not be safe and the chimney is insecure among other things.
my offer of 127 (was on for offers over 130) was accepted but I can't afford to do the work needed and buy for this. I knew it would need windows etc so budgeted but these issues are a shock. Also needs the cellar damp proofing.

I can't pull out of my sale and I really want to complete on this. so what's the next step? the seller used to rent it out so it's currently empty.

thanks

I'm a bit confused by your dates. Are you saying that you accepted an offer on your house 15 months ago but it's not yet completed? But that irrelevant.

Are you certain that all of the work the survey mentions is urgently needed now? Or is the report pointing out issues you need to consider and budget for over the next few years?

You can still sell your property, but not buy the terraced house. You'd just have to find a rental while you look for another purchase.

Agree, you need a sense of priorities and if urgent cost of roof and chimney repair from a builder. Much will go with the age of the house but if work has been done, such as attic conversion or removal of chimney should be certified by buildings regs although they may predate it. Your solicitor can request that info.

In the survey how is the house actually valued at opposed to what it was up for sale?

Often the survays come back a bit worst case I think. Find out HOW bad the things actually are.

Does the roof need a re-roof NOW or can it be patched for a few £hundred to get you though another year, then another patch job to get you through another year?

Attic conversion MAY not be safe? What does that mean? That it was done pre-building regs and so there is no proof, or has the structural survay actually found issues?

Same for chimney.

After you have found out how bad it realy is, get quotes to rectify and try and negotiate a slightly lower price.

I suspect that it might not be as bad in reality as it first sounds on the report and you could get thorugh a year or so before fixing things.

Get a builder (more than one if the vendors agree) and get them to tell you how much work needs doing, how urgent and the cost. Then go back to the vendor asking for a discount to cover the work.

why can't you pull out of the sale? It sounds like a potential nightmare with a dodgy roof and chimney, and you'll have to pay a huge excess on building insurance if you are honest with them.

sorry may have been a bit unclear- we sold this March 2016 and it fell through but re sold in may 2016- basically it took a year but we dropped the price and sold it fast in the end.

it's my friends husband who has done the survey and he basically said the roof needs doing now and the attick room he doesn't think has had the floor reinforced.

I'll get the quotes. I love the area and the kids school is close and there are really not that many options if I don't buy.

it's my friends husband who has done the survey and he basically said the roof needs doing now and the attick room he doesn't think has had the floor reinforced

Oh. So it it quite bad :-(

Get the quotes and try to get something knocked off the purchase price.

Don't buy it. Rent and buy something else that isn't in such a state.

It's not worth the risk.

With the loft if it hasn't been signed off.then that hugely affects the value (if it's been sold as that as a bedroom) eg a 3 bed is worth a lot more than a 2 bed with a boarded loft.

A few years ago it wasn't such an issue and people would just get an indemnity policy for lack of building regs. Things are much stricter now and something as major ss this should be referred back to your lender for approval.

Even if you don't have a lender when you come to sell those next buyers probably will and this will then be your problem.

If you don't have a mortgage then certainly get a quote and try and chip the price. If you do have a mortgage you'll need a new mortgage offer and depending on your Ltv they may reduce the amount of the advance so you are in a catch 22

If.you can't get the work done by whatever means walk away as you can't really afford the house.

Sorry to sound harsh but you really don't need the stress.

A few years ago it wasn't such an issue and people would just get an indemnity policy for lack of building regs. Things are much stricter now and something as major ss this should be referred back to your lender for approval

Is that the same even if the loft has been sold as a 'loft room' rather than a bedroom?

I just wouldn't buy it, sorry.

That is a huge amount of work and with an asking price of only £127,000 I doubt the vendor is going to accept something like a £10,000 reducation from you. I suppose you could try ... ?

It sounds like a money pit and if you are on a tight budget walk away. A survey can only look so far into the fabric of a house. I'm betting
there are other issues lurking under it's skin. I speak from experience.

I'd walk away. The roof alone would make me wonder but a loft room with the floor not reinforced, nope. I'm assuming they are selling it as a usable room?

It will cost you loads to get this done and you don't have it so that's your answer really.

I had a similar survey last year. House was riddled with problems similar to the ones you describe. I pulled out in the end, it just wasn't worth it and the vendor wasn't prepared to budge. It's now on the market for £20k less than the original price and still hasn't shifted, nearly a year later.

If the loft floor wasn't reinforced then reinforcing it would reduce the headroom in the room, possibly making it not suitable for use as a bedroom. Your searches should show whether building regs signed the loft conversion off. If they haven't then you either need to reduce your offer by the cost of a reroof and loft conversion or walk away, or buy and move in and then borrow for some of the work, if the price for the house as it is is fair and it's being sold as a house in need of renovation.

What are your chances of finding a suitable house with a sound roof for the same money?

Walk away and rent.

update*
firstly to clear up a few points (apologies but I was so stressed I didn't clarify a few things)
loft room was sold as loft room but not a bedroom - if it had been a bedroom it would be 140k+, the plan was to put my daughter up when it's properly done

it is a steal for the area and I was going to loose 6k in redemption fee (was porting my mortgage over) plus solicitors and cost of renting etc etc

I met a builder and the estate agent and a friend of my friend who is also s builder at the property yesterday and went over all the issues.

I got a quote for the roof and chimney breast and he looked st the loft floor too

the builder gave me a plan of how I could make it 3 beds not going into the loft for 6k the other work roof and a chimney breast etc and I went back to the seller who agreed to half the cost of the roof etc etc, got indemnity for building works and I'm
going to keep the sale and not use loft room at all.

I looked at other buying options and I just can't afford the area if I don't get a project so I need to see this as one.

I also poke to surveyor who also said he would still buy but get them to reduce. so s happy ending- it was scarey to be so- drop the price or I'm walking but it worked.

I'm so pleased you've had your mind put at ease. This sounds like an exciting new start for you. Lots of work, but your home will be yours to be proud of.