Buyer wants to show independant structural report to lender after offer

[WhiteJasmine1]

Hello. I'm in desperate need of advice from those that have been in the same/similar situation or can give me guidance on where I stand.

We sold our house to FTBs just over 3 months ago. Their independant survey flagged movement. Of course, our buyers then decided to get a structural engineer out to examine it further. The engineer explained to me that there has been movement (our house is built on a slope) and suggested it may or may not need underpinning. He told me we could claim on insurance or reduce our asking price to cover any work. Our buyers aren't put off but still want to wait for the report. The vendors of the house we are purchasing are putting us under so much pressure, but rightly so, but we still need to wait for the report.

Our buyer has had a valuation done by the lenders and his survey valued our home at what our buyers offered. He then received his mortgage offer. He has since told the estate agents that he wants to wait for his independent structural survey to send to the lenders? I've never heard of someone going back to the lender, after an offer, with an independent survey. I'm guessing he wants a reduction, which we will negotiate should it need repairing. The estate agents agree that this is unheard of as our buyer risks getting his mortgage offer retracted. Our buyer told the estate agents his solicitors have told him to send thr report to the lenders and if he doesn't, they will. Can they do this? What would happen if the report shows work needs doing after the valuations? Do I ask our estate agents to negotiate price with us? I'm so confused and I'm losing sleep over this.

Help appreciated!

You may as well pull out of the sale and the purchase. The bank will lend less money, the buyer will offer less (or not bother at all depending on the work required), you'll need to negotiate a discount from your vendor.
It's not going to happen. If it's not costing you anything, let it play out and see what happens.
You have a defective house that needs reparing. If you don't get it done via insurance, most people will want a colossal discount to cover the cost ( possibly unknown ) and the huge disruption of getting the house underpinned.
It's ok if it's a porch or an extension, different matter if it's the whole house.

I think we have a clause in our mortgage offer which states that if anything comes to light that may affect the value of the house you have to let them know. In the same vein that you're supposed to tell them about a change in circumstances that might affect affordability.

I think you need to claim from your insurers and get this sorted out before you sell. It’s difficult for the buyers to take this on and you should do it. There will be nothing but angst if you don’t. It will be down valued and it might not even get a mortgage. Just pull out and sort it yourselves.

The buyers solicitors will likely represent the mortgage company as well and will be obliged to disclose anything effecting the value of the property to them.