Mortgage requiring structural survey... should we pull out?

[optimisticpessimist01]

Full details of our mortgage approval came back today. Before we can proceed with it we need a structural survey carrying out.

The quote from the report reads "evidence of movement was noted in the form of cracked driveway, cracking to the rear wall masonry and leaning boundary wall. This appears significant and progressive. Obtain a report from a qualified structural engineer on the stability of the house".

We have also since discovered that a culvert runs under the house too.

We loved the house but we are unsure of our next move. We have been informed that a structural report will cost £1,000+ is this true for our requirements? Should we even bother with the report and just pull out? We are first time buyers so completely clueless on this situation.

I would walk away, we had a house with cracking and I became obsessed with the cracks and noticing if they had got worse or not. The insurance premiums were high because of it. I would never go near subsidence again

I have real estate mgt qualifications, lots of experience & money. I'd walk, then run from this house. Not worth the grief.

This house has "money pit" written all over it. Walk away.

www.chroniclelive.co.uk/news/north-east-news/homes-spencer-court-newburn-demolished-5765294

Collapsed culvert....... it would put me off, I think the insurance for this type of property would be really high?

Consider costs - an insurance company won’t insure you for known risks if you bought the house. Can you afford £10k plus to fix yourself when it either floods or subsides or both if they are linked. Then once fixed and floods again, pay again & then when you are demoralised & skint & decide to sell no one will want to buy it - don’t stumble into a nightmare

We have a bowing retaining wall at the moment - structural engineer coming out next week. I expect it to cost potentially thousands to fix (it is a big long wall that is on the boundary of about 5 other houses). I will never not get a structural survey done but if you don't have the cash to fix the potential problems, walk away.

This sounds like trouble. You will pay for the structural survey and if further issues are identified, you have to work out the cost of fixing them and renegotiate. You might not even get the seller to agree.
So overall seems like a big risk to sink more money into this transaction.

An invasive structural could cost £1000+

But I’ve just had a structural done on a house I’m buying, non invasive, was able to get rational interpretations of the problems and remedial works for £275. He would have told us if he thought an invasive was needed.

If any invasive is recommended then yes, I would pull out.

Also be mindful of how you feel you would deal with any issues in the future. As I said above, I got obsessed with the widening crack in our house and used to feel sick about it. I found it quite hard to be objective about it especially as there were queries over who was going to pay to sort it out. Some people take these things on the head and a practical and detached - others (like me!) find it really stressful. Same goes for any issue with a house I guess like main road noise, bus routes etc.

Unless it was an absolute dream house I’d never move from I’d run a mile.

I think @coco123456789 has a very valid point, and the same would hold true for the flooding risk - the constant worry (if you are that kind of person) is potentially as distressing as dealing with an actual event. I would forget this house and move on.

Thanks everyone for your responses, we decided to pull out this afternoon. The search continues!

I would have thought that this will be an issue for all buyers espically first time buyers. Probably the only taker will be a builder who can do the work and then sell it on

Well done @optimisticpessimist01

To be honest spending £1k on a full survey is the least of your worries with this house. I would walk away, there will definitely be more costs and more stress from the sounds of it. It's not worth it, pull out now and find another property. I would never buy a house without a full structural survey, especially if an old property and if it has had any major work done like extensions or removal of walls.

Doh I just read the latest update. Well done OP!

Even doing building work won’t remove the risk from the culvert blocking and flooding.