LEVEL 3 Building survey report

[icedearth213]

Hello all,

We are looking to buy a terraced house in Watford (built in the 1900s) and have done the Level 3 Building survey report (see attached).

The survey has revealed some serious problems that needs to be fixed and below is the surveyors over all opinion.

Surveyor's Overall opinion of the property:

The house is in poor condition and you should take into account the short term items of maintenance and building works, listed in the Summary of Repairs below, and the following aspects of the property as highlighted from the report.

1. There is a prolonged plumbing leaks from the water main valve in the kitchen which is constantly dripping and adding damp to the floor and room.
2. The kitchen will need many months to dry out.
3. The house suffers from rising damp in the ground floor walls.
4. Internal condensation and mould is an ongoing and serious problem due to the damp referred
5. to above and the poor thermal insulation standards in walls, floors and roofs.
6. The pitch on the lower roof to the back is insufficient and the covering may need to be replaced. There is damp below this roof which could be due to leaks and condensation.

I have received quotes for DPC treatment (£8K) , lead pipe replacement (£2.5K), new boiler & radiators (£3.5K) etc. The sellers have now agreed to reduce the property price by £18K based on the repairs needed.

Looking at the attached report I would be grateful if you could advise me on whether this property is worth buying and if the £18K discount justifies the amount of repairs that needs to be carried out in the property.

We have a 6 months old baby and are worried that the damp and condensation will cause health issues.

I look forward to your advice.

Many thanks.

Max

I wouldn't take this on especially not with a new baby.

I forgot to mention, I have a mortgage offer fixed for 5 years @ 3.51% which is going to expire on 28th of Feb 2023.

Therefore, I don't want the current mortgage rate to expire and end up with a higher rate.

Thank you for your advice :-)

I’d buy it as it’s fixable and most houses have a bit of damp. If you had 10 surveys you’d pull out on all 10 as they’d all find something that needs doing…

If you, and particularly the baby, can stay somewhere else while doing most of the main work to fix the damp then buy it. This also includes having your child in childcare during the day, sleeping some nights elsewhere and blocking off rooms so your baby/toddler can't crawl/walk into them. (One of my friends had to do this when their kitchen floor collapsed due to damp.)

Otherwise I wouldn't touch it with a baby/toddler.

There is a prolonged plumbing leaks from the water main valve in the kitchen which is constantly dripping and adding damp to the floor and room.

Oh and it is odd for them not to get a plumber into fix a water leak especially as it is cold.

The estate agent has now fixed the water leakages (the bathroom tap, toilet and radiator was leaking as well) and the property is now vacant.

Do you think £18k reduction is a reasonable reduction given all the issues in the the property?

Many thanks.

It's not just the immediate red actions, it's all the orange ones too. So much work to do in the next few years. All windows need replacing? Etc etc. Obviously it'd be a real shame to lose the 3.51% rate, but next year homes may well be cheaper, and I hope interest rates will stabilize between 4 and 5... no one knows for sure tho.
I dont know your whole financial situation of course, and how urgent it is that you move.
None the less I wouldn't be prepared to take on this money pit/ project, especially with a newborn. I know surveys always bring something up, I've had 5 myself. This one is a lot.
If you're sure you'd still like to go ahead I'd factor the cost of a few more bits being sorted and price of renting while that gets sorted, including the time it takes to get traders in. Most likely more than 18k.

It's not as simple as that. How is the property priced compared to others? If it was already priced in accordance with its many defects then you wouldn't necessarily be due any reduction at all.

Did you not view it?

You can't move into the house, especially with a baby, until the damp issues are resolved.

The property was listed at £360,000.

When we viewed the property back in Sept 2022 there wasn't any signs of damp or mould.

The seller accepted our offer of £355,00. In Watford 2 bed terrace houses are priced at £400,000

The RICS and damp survey was done in Dec. I was shocked to see the survey uncovered all these problems.

Many thanks.

It’s not just fixing the damp you need to consider; it’s the damage it’s done. The surveyor has mentioned potential rotten floorboards I think hasn’t he? The cost of labour and materials has gone through through roof, so what you think it might cost you probably need to increase; then there’s all the other little problems that might be uncovered once the work starts - a house of this age most likely means starting one job will open a can of worms. I know you’ve had a reduction in price, but you would need to have the money spare the pay for the work. Sorry OP, if it was me I would walk. The issues are fixable but you don’t know the damage that has been done, also the roof and windows will be ££££ (although not neccesarily immediate).

Oh ignore the bit about the roof; reread it, we had vent tiles fitted when we moved in and it was about 400 pounds. I thought it said the roof needed replacing

If you weren't anticipating a project, then I really wouldn't take this on. The wait to get trades in at the moment can be really long. God knows what else you might uncover.

Tell them 20k & you've got a deal. All the condensation issues will be sorted with the leaks fixed.

Hi All,

Thank you all for your advice.

The EICR was done in Aug 2020. Should I get all the electrics retested? keeping in mind the property had tenants with two young children who moved out a month ago.

Many thanks.

bump!