home buyers report

[OAmary]

Hi all, we are just about to complete and our buyers have asked for a home survey. We bought the property two years ago with the idea of it being a stop gap home and so overlooked and was optimistic on the survey results. As with many surveys, we got a fair few reds and ambers. For context its a 1930 end terrace, and has been absolutely fine in the time we have been here.

In summary:

1. roof is recommended to have a new weatherpoof underlay as its just the old one in place and that might not be completely futureproof. We havent had any leaks and has been fine in the northern weather. Seems like looking on forums whilst this sounds like a lot of work, its just precautionary and one to note.
2. Electrics, gas and electric fireplace didnt have certs so got reds. Weve had the electrics upgraded and getting an updated cert next week.
3. Two windows have failed and got mist so we were recommended to change them but was given an amber. We just hadnt got round to this so its the same.
4. Front door and back do not have safety glass so got a red. Didnt think this was a big deal.
5. boiler was old and got a red but we got a new one in that time.
6. Weve got a man hole cover and got red as he couldnt inspect it but said it looks unblocked and in good order.
7. Artex ceilings downstairs got an amber on suspect asbestos material but we are having a specialist report done off the back of their mortgage valuation and buyer is aware and happy to proceed.

As i said most of these did not bother us and we have done work like new bathroom and boiler in the short time we have been here but we are looking to upsize as we are wanting to start a family soon and want to move to an area with better schools etc.

Would those above concern you? We settled on their mortgage valuation figure, below what we originally agreed in good faith for the purchase to go through. They are pregnant and ftb, get the impression they are keen to go ahead but i just hope they wont knock more money off as we will have to pull out.

No wouldn’t bother me - would think all fairly minor. Not unexpected in a house that age.

FTB can be a hyper-sensitive though. Some don’t get that you rarely buy a ‘perfect’ house, and seem to think that the price should be lowered to enable them to afford to cover all suggested fixes (and then use the saving to actually buy some nice shiny furniture 😉).

Nothing there that would have put me off.

money would depend on what I thought it was worth v valuation you've settled at.

@IggysPop exactly my thoughts, but you can’t always tell how people take red flags on reports especially if they haven’t done it before. Glad you think the same, really reassured me! It’s in much better nick then when we got it but they’ve been ….. nervy so far.

@WinterMusings its top end of their budget and we’ve settled to their mortgage valuation so they’ve saved there from their original offer. They absolutely love the house so hopefully couple with the fact they are quite pregnant the house should be worth it!

Wouldn't put me off. I'm looking for an investment flat at the moment so have been reading a lot of home reports and that's fairly standard stuff

Honestly these are all minor and just tick boxing. If you're buying an older property you're going to get things flagged up.
Our survey for the house we bought recently was about 100 page document, but most of it was just the usual you'd expect with the age of the house. The major point for us was the roof needs redoing so we renegotiated that.
At the end of the day it's up to you. If they want to try and renegotiate they can, but you can say no. I doubt for those minor points they would pull out of the purchase, they would get the same flag up on the next 30s property.

I think you mean you are about to exchange? There is a lot of talk on MSE about renegotiating after a survey at the moment, especially FTB's, be prepared.

🤞🏼🤞🏼🤞🏼Keep us posted!!

How’s your EPC rating in an end terrace?

It doesn’t help your situation but in Scotland the home buyers report is done by the seller, amd also covers the valuation., so anyone can access it before they even view a house, so stops the nonsense of offers being reduced after survey. We bought our house a couple of years ago with lots of similar issues to what you’re speaking about and we went in with eyes wide open, not put off in the slightest

@C4tastrophe it was d- not great but not awful!

@Salome61 Oh I meant exchange! Sorry typed super fast hahaha. We just thought it’s another tactic for them to get money off, money really we can’t afford to lose! We’ve already lowered once!

Ah so as an update, buyers have requested LV3 (gulp)... Our EA rung up explaining they just wanted a damp report but when we phoned back the surveyor he explained its a full structural survey. When we queried the EA she rang them and they said oh sorry meant a LV3 and then we may get a damp report. EA is really concerned too. Seems the buyers are being devious. Last time we were about to exchange, the day we received the contract they lowered their offer. Low and behold, we had the contract this week and now we have this to contend with. What do you guys think- surely im not being pessimistic in thinking their motivations are rather suspicious

Happened to us last year. Level 3 survey suddenly a few weeks prior to exchange. Day of exchange there was suddenly stuff wrong and they needed a substantial amount off. None of the work was either proven or urgent, it was all standard stuff for a level 3 survey.

Sorry OP, it seems to be the way a lot of FTB are going at the mo.

@Doesnthaveaphd confirms my fears, I’m deeply sorry you went through that. If you don’t mind me asking, how did yours go, was it resolved? Was the money they asked off a serious percentage off, super nervous as we really can’t go lower as we are then taking on more mortgage and even more repayments. EA rung them earlier and they said they emphasise they won’t go for more money off unless something is very wrong… but I smell a rat!

@OAmary
Im afraid we had no choice to tell them no. They wanted 25k off a 300k house. I think they outbid everyone else with no intention of paying.

We lost our onward purchase but it all worked out ok in the end as we got new buyers fairly quickly.

🤞🤞Everything works out for you.

@Doesnthaveaphd woah, im so sorry thats really awful. How people think thats acceptable is beyond me, shame on them. Glad you found another buyer!