Agent has said i need to exchange by Friday, before the damp proof survey and other assessments

[Tomoveorno]

Ok ive posted under a previous user name about my quite pushy vendors, conference calls with them and the agents, Ive felt quite berated at times.

A couple of proirity 3 issues have been identified by the structural survey - one relating to damp, and a potentially structural issue relating to the lack of support for a chimney (its a garden flat)

I instructed a damp proof survey today to be carried out next tuesday and arranged for my builder to come and view the chimney issue with me this Thurday.
The Agent has told me that the vendors have only found out today that they need to exchange by this Friday or their onward purchase is going on the market as their sellers are greedy and tired of waiting (my offer was accepted early in october)

Honestly Im feeling quite exhausted with the back and forward and what feels like a lack of patience, and wonder if Im being put under pressure to exchange or whether this is a guenuine request.

The agent tells me he has a dampproof surveyor who may be available and they may be able to ‘call in a favour’ for me but cannot be certain. Feels a bit odd however im not sure if im being suspicious for nothing.

Im loathe to lose the 3k ive already spent so please help!!

You are allowed to wait until you're ready. You should. The agent and vendor are behaving really badly here. That is not illegal but you have to look out for yourself. Bear in mind that often there's loads of 'urgency' one day and then the next things move at a snail's pace.

I'm in SE London so a similar area and an ea told me that the market is on fire - one week, then dead the next at the moment. So do not be pressured. You decided you wanted a structural survey and that is what you should have. If the fireplace has been knocked out inexpertly in a downstairs flat that could be very costly to sort out.

Great, good for the agent . It doesn’t work like that. I would only proceed once due diligence has been done on your side. I think the seller and agent are playing games

What's the latest with the chimney, OP? You said you were going to look with the builder today - did that happen? As bad as the damp proof situation could be, a level 3 structural issue could mean the house is a death trap. No amount of wasted rent money is worth risking yourself and your DD.

Also, did you see @MummyBearBoo's post? It sounds like this is out of your hands anyway - your solicitor is not going to let you exchange in your current situation.

Interesting the surveyor did a building survey on a flat. When they could not access the entire building they were supposed to survey. We would never reccomend one. Any structural issue is the issue of all owners not just you unless you are buying the lease for the entire property.

Your landlord selling is not your problem they can't complete without vacant possession. Did you serve notice on them or the other way round.

Even if you were buying the freehold the cost would be split between all owners though service charges

The solicitor could risk being sued if they sign off on a house that has known possible structural issues without them being investigated!

Don't do it. I had a structural survey done on the first house I bought. It suggested the electrics were quite old, and it might be an idea to have follow-up tests by an specialist electrician. I got railroaded into exchanging because I was worried about losing the property (vendors were in a chain yadda, yadda) and didn't get round to having the testing done.

Fastforward two years, I wanted to get the boiler replaced. The plumber said he didn't like the look of the electrics, and could I get them checked out. Turned out there were massive issues, I had to get the place completely rewired to meet even basic safety standards (some circuits weren't even earthed). To make matters worse, the floors were concrete, so all the new wiring had to be chased down from the ceiling, making the rewire even more expensive, and leaving us needing to completely redecorate. I then had to hold off on replacing the boiler until I could save up again and afford to.

In other words, what your survey's thrown up might be the tip of an extremely expensive iceberg. This is the biggest investment you're probably going to make and once you're tied to it, it's going to be extremely hard to get out of.

I'd refuse to deal with the estate agent further. They aren't working for you and you have no responsibility towards them. Honestly, I've bought and sold loads of times and have never spoken to a vendor's estate agent. If they call you again, and they will, refer them straight to your solicitor. Makes sure your solicitor is crystal clear on your instructions. There's just no need for this to be so stressful for you, don't speak to them. Let the solicitors deal with it.

Thank you everyone - honestly i wish i could buy you all a tea and cake for your kind and thoughtful comments

I think you are right about the risk and i need to stop getting stressed about the fact that the agent is killing me with kindness whilst not listening to a word that im saying. I just spoke to her at 5pm to say that a 500 pound discount would not be sufficient - she sent me an email at 6 saying ‘great news - ive worked really hard and have managed to get you a 500 pound discount lets get moving on the deposit’ 😭 High pressure sales tactics exist for a reason as they are so bloody stressful especially if your without a partner for backup 😬

Anyway @PowerslidePanda the builder was all lined up to visit today and he neded to see the fireplaces of the other 2 flats above however apparantly the sellers hadnt been able to arrange a time with the neighbours. We are in a lockdown so i kind of understand that this could be true. There was nothing for the builder to see in the flat really as the survey had already established that the fireplace has been removed so I stood him down.

I went to see the flat on my own and the seller let me in, I wanted to check if i stilll liked it - I do, but thats by the by. Honestly im such an idiot, why do i make life harder for myself

Re @MummyBearBoo post - i think ive understood from the lawyer that we can go ahead and exchage based on the survey

Don’t be bullied. For all you know, the vendor might know exactly how bad the damp etc problems are, so be pushing you to exchange before you find out.

If the chain falls apart, it clearly wasn’t the right property! There’ll be other homes! Always!

Hold your nerve. He needs to sell. You don’t need to buy. Please don’t be rail roaded.
When you find out how much the damp will cost to put right, then you can decide what to do. You will be well within your rights to expect to take that money off, and a bit more for the inconvenience of living through it. Especially if you are paying full asking price. If he doesn’t budge, then you need to decide if you like it enough.
The market maybe hot, but buying property is rarely quick. I doubt he would want to lose his buyer. I’m always petrified of losing my buyer. They hold all the cards.

Good luck.

OP - listen to everyone else. DO NOT exchange tomorrow. You are being treated disgracefully by the seller & their agent. Do not let them railroad you into this purchase. It will all work out if you walk away - it always does. Don't exchange until everything is in place & you & your lawyer are satisfied.

Re @MummyBearBoo's post, my solicitor was ok with me proceeding with the sale too, so don't read anything into that.

The extra testing had been suggested by the surveyor as potentially useful information for me as a buyer rather than specified as required for the sale to proceed.

Don’t exchange until you have surveyed everything. Please, l speak from experience.

Don't exchange tomorrow.
The agent is not your friend, and doesn't care about what's fair.
Nobody is in a position to exchange on that flat tomorrow - including you. Don't worry about the what-ifs : you know that the flat needs further investigation. You know that it could potentially cause you a lot of problems and cost a lot of money. Taking on a flat that requires building work isn't for everyone - never mind during a lockdown. There may be someone else willing to buy it, who knows? But as you can see from this thread it's unanimous that the uncertainty would put most people off, you must protect your own interests. It's horrible to think that you feel forced into buying this flat. The 3k is a sunk cost, try not to feel bad if it's lost. The possibility of what happens next month with your current home is an understandable concern but it shouldn't override your need to know the results of the survey etc before making your decision.
The agent can't be trusted.

www.jamesrossandcoltd.co.uk/blog/unsupported-chimney-stack-what-you-need-to-know.htm

10 grand for fixing unsupported chimney breasts on upper floors - and no guarantees you could even access them to do the work.

If someone has taken out your chimney breast without taking out the ones above, it's potentially v dangerous, v expensive to fix and can't be fixed without the cooperation of the other flat owners.

Run for the hills - do not touch this flat with a barge pole.

Do not exchange until you have had your builder in. You are just being ridiculously bullied and the EA should not be behaving like this.
They are just making idle threats. If your vendor pulled out they would be back at square one and it would take them longer to sell. It’s better they stick with you but allow you to have your checks done.

I really feel for you as aggressive estate agents are horrible but this is a major purchase and you have to get your checks done. If all fine then you proceed. If not you pull out.

Estate agents work in their own interest and will tell you whatever they feel like to get a deal so they can secure their fees.

This one is railroading you because they know there’s an issue with damp and potential problem structurally. They don’t care about it as long as you sign then it becomes your problem. And your money to deal with that problem.

Stand firm and be firm with them. You do not have to exchange tomorrow, you do not have to transfer any money. It is in your interest to get those surveys done first so you know where you stand and if you’ll need to pay out a lot more for the house in repairs.

Better to rent for longer than be ripped off. You are in the driving seat, the estate agent and vendor are trying to change your perspective so you feel you have no option but to comply. That’s horse shit. You have the upper hand.

They’re bluffing, aren’t they? If you don’t agree to this exchange, they’re going to lose their onward purchase anyway, because no one else is going to exchange with them on Friday. Just say no.

There's no need to even say no to them. Just don't engage with them, refer them straight to your solicitor. Your solicitor is acting in your interests. The estate agent isn't. It'll all be so much less stressful if you disengage from these conversations.

I would honestly chalk this up to experience, write off the money and walk away. There are thousands of other properties on the market and with that budget you could get something in perfect condition.

You are just panicking because of your February deadline but this isn't the right flat for you and actually sounds really dodgy. Please consider walking away.

It sounds very much like they're trying to hurry this along before you discover the full extent of the damp issues.

I found it helped to visualise in my mind's eye how I would be feeling and how the vendor would be feeling when (in the past) I have put in offers and was a bit dithery about over reaching on price and so on.

I've bought one flat and bought one house in my life. Both times I wanted the property so much I could burst with happiness and excitement (and had To try to conceal it). The vendors on each occasion were downsizing. They were kind of happy to have a buyer but still regretful to be leaving a place they loved. It didn't feel pressured or tense. Initial offers were made. Rejected. Upped and accepted - and I was walking on air. Surveys done and matters (bit of damp, money off for blown double glazing) negotiated reasonably and calmly and proportionately. I know it doesn't always work out that way and I was lucky - but still.

In your situation I'm imagining you agreeing to exchange and then hanging up, sitting down and staring at your DD with a terrible sense of staring into the abyss and a 'what have I done?' feeling - while your bloody vendor and his bullying estate agent caper round the room hooting and hollering, congratulating themselves on pulling It off.

Maybe the fireplace is fine. Maybe the damp isn't too bad. For me that's not the whole issue. It's more the attempts to game you and play you. Yech. Please don't let them.

I'm a conveyancer, please listen to everyone who is saying don't exchange tomorrow. The Estate Agent is not your friend, all they care about is their commission so ignore what they are saying.

The structural issue with the chimney is serious if the chimney above ground floor has been left in place. You could ask whoever runs the Management Company if there is one whether they know of the works being done. If it is a leasehold property (which it presumably is) then the consent of the management company should have been sought. It's is especially important to check that it isn't the current owners who have done this work.

The thing that surprises me is that if the chimney has been removed then building control consent should have been obtained and that would have been revealed on the search so your conveyancer should know about it.

@redastherose

I'm a conveyancer, please listen to everyone who is saying don't exchange tomorrow. The Estate Agent is not your friend, all they care about is their commission so ignore what they are saying.

The structural issue with the chimney is serious if the chimney above ground floor has been left in place. You could ask whoever runs the Management Company if there is one whether they know of the works being done. If it is a leasehold property (which it presumably is) then the consent of the management company should have been sought. It's is especially important to check that it isn't the current owners who have done this work.

The thing that surprises me is that if the chimney has been removed then building control consent should have been obtained and that would have been revealed on the search so your conveyancer should know about it.

This.