Survey

[Bonosglasses]

Hi. Wonder if anyone can offer any advice.

We accepted an offer on our house - cash buyer. They obviously got a survey done which has highlighted some ‘problems’:

• damp in two of the living room walls and the floor
• the electrics need checking
• there’s problems with the roof (roofer has been to check and said there’s nothing wrong with the roof)
• some of the ceilings are asbestos. The asbestos has frightened them and they have been advised by their surveyor to get a specialist survey done.

We knew there was asbestos but have previously been told that as long as it’s not damaged (which it isn’t) it’s ok. It only becomes a problem if it’s damaged or is being removed. We got a mortgage on the property no problem and it was at that point we were told about the asbestos.

With all of these problems the surveyor has valued the house at £15,000 less that the agreed price. The buyers have not put in a revised offer and are apparently still keen to go ahead but are getting prices to get things put right.

Our estate agent is advising that we pay for the asbestos survey, a damp survey and to have the electrics checked but with no guarantee that the buyers will proceed. Their logic is that another surveyor will pick up the same problems. But who’s responsibility is it to have this done and to pay for it? I’m just worried that we pay upwards of £800 and the buyers pull out.

If it was us buying this house I would expect to pay for the surveys and checks and revise the offer price accordingly. Is that wrong?

Sorry it’s longwinded and hopefully it’s understandable. Any advice would be greatly appreciated.

Thank you

Depends on if you want to sell the house. The buyers might as well pay for it and then pull out as they'll be put off by the problems. It could as well happen with other buyers as damp, asbestos and roof problems would be offputting to many unless it's a complete fixer upper and someone is confident at doing projects. Some buyers might walk away just based on the survey without investigating the problems further.

So I think your agent's advice is sound and would help you be upfront about the problems.

I think i would follow the agents advice too. Surveys dont usually cost very much and if you do lose these buyers you have the information you will need to either get the work done yourselves or to pass to a new buyer. In terms of damp probably worth checking that this isnt being caused by leaking gutters or drainpipes and make sure outside ground levels arent breaching the damp proof course. Your buyers maybe happy to do the work and only ask for a small reduction in price. An electric check is always worth having done these days before selling as lawyers always ask for it and doesnt cost much to get done. Again if any work needs doing to bring electrics up to modern standards the cost of this could be negotiated.

I'd leave it to them to pay for the surveys. Surely paying for them indicates they're committed to the purchase and means they're less likely to pull out. Puts you in a better negotiating position re: price chip.

They are getting prices to put things right and then they will reduce their offer! They would be nuts to pay you the agreed price with the problems that have been found.

I never understand why people don’t at least sort out damp before they sell. Who wants to buy a damp house? Or one with asbestos in it quite frankly!

Wow thanks for the advice bubblesbuddy!!

We took advice about the asbestos when we bought the property and were quite happy to buy the house then. Asbestos doesn’t pose a risk unless it’s damaged or it’s being removed.

And about the damp - this is the first we knew of it. Damp has been found in the floorboards in the corners of the living room. Now I don’t know about you but we don’t make a habit of moving furniture and lifting carpets to see if we’ve got damp! Had we known it would’ve been sorted!!

I agree - they're getting prices to put things right and will reduce their offer accordingly. Nobody will pay full price knowing that thousands of pounds worth of work needs doing. And they may find it difficult to get a mortgage if the house is worth less than the agreed price.