Help - do I pull out?!

[Misty9]

I'm in the process of buying a house but it's non standard construction steel frame and the survey has come back with various issues too. The steel frame has been tested a few years back and when I spoke to the structural engineer who did it, his advice was it is unlikely to have changed and he doesn't see many issues in these types of house (dorlonco). But the survey issues will be 5k plus to remedy and I'm getting a serious case of cold feet. I've submitted a reduced offer but am now considering pulling out altogether :(

How do I know what the right thing to do is?! I've bought twice before but now I'm on my own and it all feels so overwhelming.

I wouldn't buy. The resale would worry me, but I'm risk adverse.

Surveys always list something that needs attending to. Were you buying it as a older house with some projects, or has it recently been renovated so you would have believed there to be no work to do?

How much are you buying it for? Is it well priced at the price you were going to pay for it? Can you get the mortgage you need?

I was buying it as something I can just move into, although I did notice the windows weren't in great condition when I looked around (but the survey says they're in poor condition and some seals have gone). I paid over asking for it as it went to sealed bids... But it's cheaper than similar sized properties in the area. I have a substantial deposit so don't need a huge mortgage, so that isn't an issue. And I do have the savings to remedy the issues. But I too am worried about resale. But it was the only house I looked around which felt like a home. And my current rent is twice what my mortgage would be.

Well the fact is, if the size is your priority and it's the only one in the area that you can buy, there would be a compromise somewhere. Think if you can settle for a smaller house instead - if not happy with that, then see if reduced offer is accepted, and also think when aer you likely to resell - if relatively soon, I'd go for it.
It went for sealed bids!

I have a dorlonco house, lived here for six years with no issues. In my experience the resale has not been an issue, dorlonco houses in my area are very much sought after due to their size and layout. If it feels like home then that's the important thing. Our house felt like home straight away when we walked in. We had a full structural survey when buying and the steel works were in perfect condition which was really our main concern at the time.
Dorlonco houses will always be cheaper than standard construction houses so that needs to be considered in the resale but then they are cheaper to buy which where I live makes the more desirable.

Misty, you state "But it was the only house I looked around which felt like a home."
The surveyor sees no real problems and £5k is nothing really on the price of a house.
I'm buying a non standard construction by myself at the moment too. Yes, it's scary. But like you, to me it feels like home. It also has no heating apart from an open fire and old storage heaters.
Yes, I'm apprehensive, but know it'll be ok.
Go for it 😊

Tell them you're paying £5k less than agreed aland site the survey.

It's not a "nice" thing to do but it is valid and they're unlikely to pull out at this stage. Especially.given the state of the market.

Without knowing what the survey flags up, it's impossible to say. The windows aren't necessarily a big deal and can wait if they still keep out rain and draughts Some of ours have blown and the seals gone, but they still keep out the rain and the cold. I wouldn't worry overly about reselling, it sounds like a few were keen to purchase if it went to sealed bids!

A survey will always bring up loads of minor faults with a property, I actually think £5k seems quite low as a total (although it depends what the property value is) and I'm surprised you'd drop your offer over that, unless you think there is something the seller has hidden from you? Are they really things you need to fix to make it liveable or are they more of a 5 year plan of normal house maintenance?

Pull out. Itl be difficult to mortgage, potentially difficult to find builders who know the right way to rectify issues and hard to resell.
It’s potentially worth less than you offered due to these issues if you didn’t know before hand.

Is it bespoke or prefab?

Pull out. Non standard construction. May mortgage it now but it changes all the time. Don't risk what is such a huge investment

Once you fix the issues you are good to go. You have money to do it. Once repairs are done others will be able to get a mortgage when you decide to sell. You can add value to this property. Which will make it an attractive investment. Providing the construction issues can all be fixed to a mortgageable standard.

Thanks all, and it's great to hear the perspective of someone who owns the same style of house. The main reason I've reduced my offer is because it was already over the asking and with all these issues being raised I don't feel comfortable paying that price any longer. It isn't a particularly large house, as I know can be the attraction of non standard construction, and indeed the bedrooms are smaller than I'd like. But I only have my two children half the week so it's not a big issue.

Nearly everyone I've spoken to is saying pull out due to there being all these issues and it being ex LA. I just don't know. The area is unknown to me which is yet another variable. I have finally heard that the vendors are deliberating and I'll find out soon.

The biggest issue is the chimney needs work, which with scaffolding isn't cheap. The surveyor estimates 3k. That plus windows plus maintenance of a LOT of fencing (owner is responsible for all the boundaries unusually), plus replacement of the back boiler equals a lot more than 5k, but I felt my reduced offer was reasonable. I'm hoping the vendor isn't a mn user!