Hello all, advice please! We have just had a pretty disastrous sounding survey on a property we were hoping to buy. I know surveyors are always negative but this seems more than average. Most things are given a red rating. concerns have been raised about rainwater pipes, gutters, drainage, structure of roof, ceilings , all windows need replacing(!), deflection of extension , (potentially) rotting floors and rising damp 🤦🏼♀️, to name some but not all of the issues identified. Also the valuation came back as 40k under what we offered! (NB the property had been on the market for a while and we were negotiated up on a blind bidding process - to be fair we probably over offered because we were over anxious).
For context, asking price was 700,000 (had already been reduced , not sure from what- but had been on the market for a long while), we know they had two previous offers of 650k and 660k. We ended up offering and having accepted 705k after a blind bid. surveyor has valued property at 665,000 and has highlighted all these major concerns.
What would you do in these circumstances? We would like to go back to the estate agent and show them all the concerns flagged in the survey, and re-offer the price as valued by surveyor. We want to be both decent and sensible here, but not really sure what the right course of action is.
Help!