Survey results

[theoutdoortype]

We had a survey carried out on a property quite soon after our offer was accepted. There are a number of issues some that were expected but others a bit of a surprise. A damp patch on the party wall in the front room - not visible on viewing. Damp in the understairs cupboard.causing some decay on the stairs - again on a party wall. A small extension at the back that appears to go slightly over the party wall and over the back boundary of the property. No building regs or planning but fairly old.so maybe boundaries have been established by use now? Plants growing from outside into the front room - these were not visible on inspection.

The house is tiny and although we expected some wear and tear this just seems to throw up more headaches than the house seems worth. I am considering just pulling out rather than sinking more money into further investigations especially as there are a number of other issues - a failing window, quite a bit of repointing needed , fairly old roof with ventilation needed - all okayish but seems to add up.

My main concern is maintaining credibility with the agents as we will need to continue house hunting. The house was marketed as being in good condition and our offer was.just below asking. Does it seem reasonable to pull out at this fairly early stage on the basis of the survey?

yes better to pull out now than waste everyone’s time. The estate agent will have seen it all before and it’s pretty common for this to be the point sales collapse.

These all sound hellishly expensive to resolve (including neighbour cooperation with the party wall damp) and I would walk away.

If you really are worried about credibility, say to the agents 'it did seem to be in good condition just as you described, so we were dumbstruck when the surveyor found all these things.' After all, if you couldn't see them, nor could they.

Thanks both, that's helpful and confirmed my feelings that it's better to pull out now rather than get cold feet at all the work later

Are you likely to find something else in a timescale that suits? If not could you negotiate on price so that you've got the money for all the work as soon as you move in?

Worth saying - if you do this, definitely get quotes. Our surveyor priced up £30k of work. When we got quotes it was £90k and that wasn’t for all the major issues the surveyor had identified! Don’t put yourself in a rubbish financial position.

Yes absolutely. And it may be if it's a very small property etc that the cost of the repairs is disproportionate so that you've no option but to pull out.

Oh no this sounds like a money pit. Pull out now, tell the EA why and keep looking.

The EA will understand and you are under no obligation until you complete. Houses fall through everyday.

If you are keen you will need to offer what the house is worth once you have factored in the issues. But honestly in your shoes I wouldn't touch it. There's always another house.

Thanks for all of your advice. I think it's the proportionality that makes it very offputting - for a small house that's not high value it seems like the cost of repairs compared to the cost of the house would be too high.