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Original poster

Am I being overly worried FTB?! Pulling out of house purchase after survey

74 replies

Yoyopotato · 09/04/2022 08:20

Paying top whack for a terraced house. Survey flagged the following as requiring further attention:
Chimney stacks
Roof coverings
Rain water pipes and gutters
Main walls
Windows
Walls and partitions
Floors
Fireplaces
Woodwork
Inside other
Electricity
Gas/Oil
Heating

If anyone wants further information on any particular area in order to advise, do say. But that's the list of everything that needs further attention urgently.

Also, the house is a 4 bedroom house. But the survey has flagged that bedroom 4 (which is in the loft) doesn't meet buildings regs to be a habitable space as it doesn't have a fire escape route. It's a loft storage space only.

OP posts:
Original poster
Yoyopotato · 09/04/2022 08:57

I think the first thing I have to do is make them aware its a 3 bedroom house and not a 4 bedroom house. And the price has to be reduced accordingly.
The seller's have an onward purchase and are dependent on receiving the full sum on their house. So there is a chance they will pull out.

OP posts:
Original poster
Yoyopotato · 09/04/2022 09:00

@Moancup

Another one saying it depends on what’s been said. I’d be surprised if you actually need to do work on all those areas.

Are you really paying “top whack” or is it just expensive?

The loft room issue is annoyingly extremely common.

No I am actually paying top whack. Zoopla values the property at 40k less than what we are buying it for.
OP posts:
Whinge · 09/04/2022 09:01

The seller's have an onward purchase and are dependent on receiving the full sum on their house. So there is a chance they will pull out.

They're going to lose their onward purchase, as they're going to have the same problem with any future buyers.

notangelinajolie · 09/04/2022 09:02

How much has the surveyor valued it?

Philandbill · 09/04/2022 09:03

I would definitely pull out and you'll find something better. You don't owe the vendor their sale and they haven't been clear about the loft "conversion" it seems...

LIZS · 09/04/2022 09:04

Sounds like you could immediately be in negative equity , even before doing work. What was the valuation and your ltv ( if mortgage required). It is not a 4 bed and the work sounds significant. Has a builder quoted on it?

Summersdreaming · 09/04/2022 09:07

Woodworm would concern me. There is a terraced house near me that was bought to quickly renovate and rent out, it's currently a shell held up by scaffolding as every joist was riddled and rotting.

ivykaty44 · 09/04/2022 09:19

They're going to lose their onward purchase, as they're going to have the same problem with any future buyers.

That becomes there problem, they knew when they converted or purchased as it that bedroom 4 is not a bedroom and that’s why it’s £40k overvalued

Had they marketed at a sensible price for 3 bed they wouldn’t be in this situation

Offer them a fair price for a 3 bed and state you’ve laid out money for a survey to Gain this information which they already knew

Original poster
Yoyopotato · 09/04/2022 09:20

Our loan to value is 90% I believe. It's quite an expensive house considering it's a terrace (won't give the exact figure in case seller is on here Grin but between £530-£570k)

OP posts:
Bootothegoose · 09/04/2022 09:25

Run run run run.

My sister bought a fixer upper house £100k under market value with a number of problems, subsidence, damp, leaking roof, no central heating etc and thought it was a bargain that would turn into a dream home.

It's been five years and they have spent the £100k and then more just to make it habitable. This house will be a money pit - walk away.

Geneticsbunny · 09/04/2022 09:30

Is it an old Victorian house where the loft bedroom will have been an original part of the house but would not pass modern loft room regulations? All the houses round here are like that and the extra bedroom is considered to be an extra bedroom by everyone.

Were there signs of damp from roof leaks, guttering leaks when you viewed?

NoSquirrels · 09/04/2022 09:34

When you say “both damp and woodworm” what exactly is the wording in the survey?

On the face of it it sounds like I’d pull out. But honestly surveys do bring up all this stuff, it’s usually not as bad as it sounds when you properly read it with a calm head. So the wording is really important.

Original poster
Yoyopotato · 09/04/2022 09:34

@Geneticsbunny

Is it an old Victorian house where the loft bedroom will have been an original part of the house but would not pass modern loft room regulations? All the houses round here are like that and the extra bedroom is considered to be an extra bedroom by everyone.

Were there signs of damp from roof leaks, guttering leaks when you viewed?

Yes thats right- it's an old Victorian. Would this mean that the property is considered to be a 4 bed by the lender?

No signs of damp when we viewed but can't say we were looking specifically

OP posts:
MadinMarch · 09/04/2022 09:34

No I am actually paying top whack. Zoopla values the property at 40k less than what we are buying it for.

I wouldn't take any notice at all of what Zoopla says the house is worth- it's really not very accurate and only really offers an average computer generated price of surrounding sale prices.

Original poster
Yoyopotato · 09/04/2022 09:37

@NoSquirrels

When you say “both damp and woodworm” what exactly is the wording in the survey?

On the face of it it sounds like I’d pull out. But honestly surveys do bring up all this stuff, it’s usually not as bad as it sounds when you properly read it with a calm head. So the wording is really important.

"I noted evidence of wood boring beetle infestation (woodworm) in the following elements; (D7: Conservatory and Porches/D8: Other Joinery/E1: Roof Structure/E2: Ceilings/E3: Walls and Partitions/E4: Floors/E9: Other/G1 Garage/G2: Outbuildings). As many timbers in the property are hidden from view it is possible that there may be further timbers affected."

"I found evidence of dampness in the following elements; E3: Walls and Partitions and E4: Floors"

OP posts:
NoSquirrels · 09/04/2022 09:41

What level of survey was it? That’s pretty crap wording if they didn’t advise specific areas.

Evidence of woodworm in old properties is pretty common. But it’s usually a long-ago infestation that now has no adverse effects. If there’s any evidence of active woodworm then it’s an issue - how long have the current owners lived there?

Musmerian · 09/04/2022 09:42

Surveys are notoriously picky on older properties. We got our house after the previous buyer pulled out owing to survey. We’ve been here 17 years and had no serious issues. If I were your sellers I’d pull out and put on market again. As other posters have said if the loft room was the original Victorian one and hasn’t been converted then it doesn’t need to meet building regs to be considered a bedroom. If I were your seller I wouldn’t compromise.

Geneticsbunny · 09/04/2022 09:48

@Yoyopotato if all the houses in the area are the same then this will be taken into account for all of the mortgage valuations. Not sure where you are but if it is a Yorkshire town with a well known redbrick uni then this is standard for pretty much all houses in the area.

If there are no internal or external signs of roof leaking / damp internal walls then the surveyor might just be covering their own bum about the damp. Active woodworm (sawdust found on site near the holes) would show that the damp is current but old holes could well be woodworm which has been treated and is no longer an issue.

LIZS · 09/04/2022 09:48

Evidence of active woodworm or historic?

Geneticsbunny · 09/04/2022 09:51

Damp floors implies that there is an issue with under floor ventilation and/or high external floor levels or broken drainage pipes or a leak in a supply pipe or a selection of the above. All can be resolved relatively easily and all are standard things which you take on when you buy a Victorian house.

Mirrorball2022 · 09/04/2022 09:53

We had a list of scary sounding things in the house we really wanted as ftb 5 years ago. We broke it down and looked into it and turned out it wasn’t that bad. Some things needed doing but it was a 30s house.

We still went through and actually our builder agreed with some bits like pointing, the roof repair/chimney etc but other things were over egged by the surveyor and didn’t need anything doing right now: lintel was flagged but is fine, windows, while older are fine and double glazed etc, the electrics/heating etc is on all surveys, very old combo boiler which we replaced a couple of years later for example.

I’m so glad we didn’t back out because we love this house so much. Have a good think and see if you can get someone in the now to review the survey too before you back out.

chisanunian · 09/04/2022 09:57

Honestly, I'd walk away from that lot, especially if it is active woodworm.

HollowTalk · 09/04/2022 09:59

@Geneticsbunny

Is it an old Victorian house where the loft bedroom will have been an original part of the house but would not pass modern loft room regulations? All the houses round here are like that and the extra bedroom is considered to be an extra bedroom by everyone.

Were there signs of damp from roof leaks, guttering leaks when you viewed?

I have a three story early Edwardian house - what are the loft regulations?
HumourReplacementTherapy · 09/04/2022 09:59

I was all ready to say oh they pick up on everything & you're being a PftB but..... no, you're not, it would cost too much to put right and it's not worth it if it's valued as a 4 bed when it's a 3

LIZS · 09/04/2022 10:04

Building regulations change all the time so it is easy for older work to no longer conform. Ie a modern loft conversion needs a certified stair access with handrail and a separate means of escape such as a fully opening window, insulation, reinforced floor joists. In some cases it may mean hardwired smoke alarms on each floor and fire doors. But houses have had attic rooms fir generations which won't now fulfil these.