Nervous - survey questions.

[NorthernLurker]

I wonder if I can have some pearls of wisdom on the following (crystal balls required)

1. We have accepted an offer from a cash buyer (status as such is being checked). So I know he doesn't need a mortgage valuation but what sort of survey do you think he'll want - what would you want in those circs - it's a mid terrace house dating from around 1890.
2. The house we want is less than ten years old and still under the new house gurantee. What sort of survey would you comission? Would you bother at all?
3. I don't know of anything that's going to come up at survey but as that's the next hurdle I'm feeling nervous - please can I have stories of how you negotiated your way past the survey without becoming bankrupt!

TIA!

Hello NorthernLurker,

Cash Buyer? has your Estate Agent seen or are they going to see a copy of a bank statement that substantiates this claim. Many people believe they are cash if they can get a mortgage Is the cash from the proceeds of another sale - if yes has that sale already completed yet or is it still going through?

1. In answer to 1. It will depends what he is planning on doing with your property. Does it need lots of work and is falling down thus s/he knows there is substantial work to do so best put the £1,000 towards a new roof rather than a full structural that will say this needs substantial work!

2. If you are getting a mortgage your lender will insist on valuation at the very least. Homebuyers will give you a little more piece of mind but there are so many clauses saying we will not be liable for all found or not found for example that I do wonder why we use them really. I have always bought old wrecks so can't advise on NHBS...i think that is what they are called

3. If your buyer has a survey bits always come up and they will probably try to chip the cost of the works off the sale price. Review the situation as and when it arises.

Stay calm and if you want some company come and join us on the Help my Estate Agent hasn't put forward my offer thread...can't remember the exact title for some moral support

thanks - yes they are supposed to be seeing proofs today - it is actual cash - that they want to invest in a house for offspring at uni.
1 - no not falling down
2- that's rather what i feel about the homebuyers - i would rather use that cash to service the boiler and so on - things that i want to do and asurvey won't look at anyway
3- meet trouble as and when it turns up? OK!

see you over on that thread - I'll need the help!

NL - they sound like the dream buyer....handle them carefully they are fragile little things

I would definitely get a survey on a new home - NHBC "warranty" very widely misunderstood, almost completely useless as far as I can make out and the poor workmanship that abounds on many sites would make me extremely nervous about buying many new homes.

I think Noddyholder suggested on another thread getting a builder to have a look if you don't fancy a survey so if you know one, that might be an option.

Some buyers are looking for things to beat you with. We had someone try to knock £23,000 off the asking price because she claimed - wouldn't let us see survey - that there was a problem with one of the vents in the back wall. If there was a problem - it didn't turn up on the survey of the person who bought it - it would have cost about £500 to fix... Either people are serious buyers or they're not and, unfortunately, you don't know until contracts are exchanged.

Thanks - that's interesting - the house isn't brand new though - it's about 6 years old. £23,000!!!! (NL faints)It's going to take a lot of chocolate to get me through this....

Yep, but the point is, I told her to stuff it and found someone else and this was a couple of years ago when the market was very flat and blah, blah, blah.