Survey has found lots of issues

[goingonabearhunt1]

We had an offer accepted a couple of weeks ago; loved the house, like area etc. We got started with solicitor, mortgage approved etc. and booked to have our own full survey done. House is Victorian and as we are both FTBs and not diy experts we thought we better know what we are getting. Well we got the results yesterday and I've been up all night stressing about this as it has found a lot more than I thought it would and now I have no idea what to do. We knew there was a floorboard missing as we felt a gap on viewing but turns out there's wetrot and active woodworm and also rising damp noted in a few spots...looked fine on viewing and we thought the problems were mostly aesthetic (i.e. problems we can live with till we can afford to fix them). I'm feeling a bit stupid for being a bit naive as to all the problems houses can have and now I'm wondering whether we should pull out altogether or ask them to reduce by the sum it would take to sort the urgent stuff out (these seem to be my options atm). Has anyone had similar happen? Did you walk away? Part of me thinks any house we can afford will probably have some issues and we have already spent some money on fees/survey but then part of me thinks it might be a money pit and be a nightmare to sort out.

We knew there was a floorboard missing as we felt a gap on viewing but turns out there's wetrot and active woodworm and also rising damp noted in a few spots

^That is quite a lot of work to do and unless it was my dream home and priced a lot below market value I would be pulling out of the sale

I’d be a bit wary of rising damp unless there’s an obvious cause and therefore solution. We’ve both got houses with some damp and a quick google suggested that rising damp is the one to avoid. I’m not an expert though.

*bought
Not both got

You will rarely get a survey on an older property that doesn't have a liat of issues. Surveys have to give you a full picture, sometimes they tell you more than is useful. Go and view it again with the survey and look at the issues then weigh up asking for a reduction (to allow you to have the work done). The seller can obviously just say no.

The trouble with old houses is that they will have some problems and the surveyor has to put them on the survey. Unless you go for a recent build, issues are going to come up. Get some woodworm / damp specialists in, find out how serious the problem is and a quote for sorting it out, then make your decision.

It is very difficult when you have sunk money into a property and have got caught up
In the romance of it, but if it were my decision and I was thinking logically, I would probably walk away from it unless I had a substantial sum to deal with the issues, the house was a bargain and there wasn't a feasible alternative.
Think about it in the sense that if you knew the issues were there when you initially viewed it, would you have bought it?

user yes that sounds sensible, I need more information. I was expecting some issues of course and there are lots of other more minor issues on survey, but it's a lot worse than I thought. I'm feeling a bit stupid for not realising some things were likely to be a problem on viewing.

I wouldn’t even think about buying until you get a quote from a damp proofing company. They will fix the dampness and possibly restore any wood joists that need fixing (if not get a quote for that). Then you need to factor in the disturbance to decor, the damp company won’t deal with that. Speak to your solicitor/estate agent if you have one but don’t speak to the selling estate agent, they want the sale and will push you in to taking the property even if it would be a money trap.

I know how hard it is and I got so emotionally involved at viewings and putting offers in etc. But you have to be prepared to walk away. There are a million other houses probably in better condition. My bil and SIL bought a beautiful old house in a good school area and within a month had a massive bill to sort the roof. They were at their maximum for buying and couldn’t put anymore lending on their mortgage at all so had to take out a substantial personal loan (on top of their already massive mortgage). This of course meant that they couldn’t really afford to do up the house to the way that they wanted and had to sell a couple of years later. And they are a solicitor and estate agent!

If you have family who are good with property ask them to have a look over the home report too and see if it’s worth it.

True mum; I guess this is why everyone tells you not to get too excited too early on (though it's hard not to). We don't have money to fix it so we'd have to ask them to drop the price if we do proceed.

Rising damp is very rare - the other issues, the rot and woodworm are likely to be related to whatever is causing the damp. Be very wary of damp proofing companies which offer a free survey as they will try to sell you a chemical damp proofing course when it's more likely to be something like a leak or ground level outside breaching the damp proof course, etc.

Yeah I've heard that fudge....not sure how you get an objective opinion...

Find a surveyor who specialises is damp - look on the Royal Institution of Chartered Surveyors for one in your area. Have a chat with at least one before you book a survey.

I suggest that you take a builder with you and get estimates for the work. Then use the figure they give you as a starting point to renegotiate the purchase price of the house, to leave you with money for the repairs.

Old houses need to breathe so be wary of most damp proof companies. You need to diagnose the cause of the damp like others have said.

Did you notice a smell when you visited?

We had a lot of issues come up on a survey. We were extremely close to exchange. We went back with our builder & went through everything to work out cost. We I decided to walk away. After viewing I asked the surveyor what he would do if it was him - and he said he’d walk away as there were too many issues for the price. Dh was gutted but I don’t regret it for a minute. A couple of years later we found the house we currently live in. We’ve probably spent the same amount on this one but it was substantially cheaper & so is worth it. Dh now agrees I was right.

So

Go round & get quotes - even if like our seller they’ll be annoyed they’ll only have the same issues with another buyer

Don’t be afraid to walk away if the seller doesn’t agree to a reduction

There are other houses out there

All houses have problems & maintenance issues

Did the survey specify the cause?

Tbh, if you haven't got a lot of money, are not DIY savvey and generally new to all this.. I'd walk away.

Damp can be very expensive, complicated and stressful to deal with. It can also be bad for your health.

Been there, done that.

Most Victorian properties will have damp issues in my experience. See if the vendors will reduce for the cost to rectify, as PP said any buyers survey will pick up the same issues.

Don’t just get a discount for the urgent stuff - get quotes for everything and reduce your offer by that amount.
Personally, I wouldn’t touch a house with extensive damp and I think you’ll find something better given time.
My parents almost bought a house that needed total renovation- they are in their 70s and postman perspective of what was sensible. In the end they bought one round the corner fully finished for 30k more and saved a year of stress and building work.
It’s healthy to view More properties while you decid, IMO

Postman?! I meant to say ‘lost perspective’

Our survey showed some damp and drainage issues. We got reports for both then damp report showed main issue was with chimney letting in so we had to get a quote for that too. Stressful at the time but all showed that it was nothing unfixable and we used the reports to reduce purchase price, got all the work done before we moved in. Only decision you need to make is if you're willing to be down the costs of the reports as well as valuation fee. It all mounts up!

Don't know where you are but we used Peter Cox for damp and timber report and found them to be excellent.

I had an old cottage with similar issues:

Removed the plaster to about 1m in the entire downstairs and had a damp proof course put in

Had the floors up and all rotten joists taken out and replaced

Sprayed all woodwork with killer for woodworm

Relaid floors

Replastered walls

Repainted

Recarpeted - many were mouldy

We then sold it as a forced sale and had made no money for all the aggro!

If you don’t have much money and aren’t DIY savvy I’d walk away. I had to walk away from something similar, where the damp had got so bad it was undermining the structural integrity of the house and I was devastated but then I found my house which needs work but it is genuinely aesthetic and it’s fun and I love it. There will be other houses out there

I'm kind of swinging toward walking away the more I think about it.....

Surveys always throw a lot of stuff up and most of it is normally irrelevant, damp proofing isn't normally a big deal, a couple of days work and about a grand, woodworm treatment also not a big deal. I'd be concerned more about the rotting woodwork. When it's structural that's an issue. I'd agree to get a builder round.

Walk away
What is for you wont pass you by
There is an ideal home out there somewhere.