I had an offer of 140k accepted on an old 3 bed cottage in Cornwall. I knew it needed plenty of work when I viewed it however the level 3 survey has just come back with a very long list of major work, much worse than I thought. New roof, most partition walls need replacing, high levels of damp in the floor and walls, new electrics, new plumbing. The list goes on and on.
Not sure whether to renegotiate price with seller or just walk away. The problem is I’m a first time buyer and due to issues with the cost of renting I’m currently in an awful shared house which I hate and need to leave urgently. So I’m in a desperate position and need to move urgently and this cottage was my perfect dream place despite definitely bring a project.
The survey has made me feel totally overwhelmed, don’t have a partner or parents to talk to and my friends are not knowledgable on this stuff.
Any advice?