Valuation report - zero value

[AnxiousSuze]

We got our valuation back and it said £0. It is valued at the offer price after receipt of reports:

1. Electrical safety report - it says the electrics seem to be unsatisfactory
2. Structural report - we have one of these as it's non-standard construction but it specifically wants to know about a tree close to the gable wall. The structural report didn't mention this specifically so I have asked.
3. Asbestos report - I am chasing the vendors for this. There is no evidence of asbestos in the roof but something called Asbestolux on a water plinth (which I know is asbestos) .

If the reports come back bad what do I do? If there is movement from the tree I will not touch it, but for the electrics what do I do? I've ordered an ECR. Do I or the sellers pay for asbestos survey? This is all really adding up

Got the electrical report and it's not too bad at all - 2 C1s which need to be remedied but won't cost a fortune. I was expecting it to be condemned!

Just because older installations don't meet current regs doesn't mean they are unsafe or must be replaced. Sounds like it's all go for you then - good luck with everything.

Yay! Get it back to the valuer quick! They might even do an undertaking (where they lend you the full money but there's a condition on the mortgage offer that you'll get it sorted by a certain date). Just the asbestos report now then?

Yes, that's happening next week so fingers crossed!

Please make sure you can get house insurance with tree being so near. We had a hard time at a previous property getting adequate cover and when we did it was extortionate.

Thank you, I hadn't even thought of that. Though most insurance websites I see specify over 10m? This tree is 7.

In the small print it may have different heights for the distance away from the house. Our trees were under 10m but with 3m of our side wall. It’s defo worth checking over the phone and making sure the call is recorded