L3 property survey - what to do next?

[Niceplacestolive]

We had an offer accepted (about £30k under asking price) on a house we love (on for £670k). It's a couple of hundred years old, so we had a full structural survey carried out. It's come back with needing around £50k worth of work needing urgent attention (dampness, roof work, drainage, etc). When offer was accepted, it was on the proviso that there'd be no further price negotiation on survey (which was a red flag at the time, but EA assured me they weren't expecting there to be any problems).

There's no way I'm happy to carry on with the agreed price now, but how do I play this? Do I share the survey report with the EA? If vendors won't negotiate further, we'll have to pull out, but we'd rather agree a better price, considering the amount of work and upheaval it'll cause us. We have £600k in mind as our max. Any advice would be much appreciated as we have no experience with this sort of thing.

The vendor said it would just need to be changed to a double-skinned tank, so I don't think it's the location.

This is that when you have a new tank you are no longer allowed to install a single skin as that is the current regulations, however as long as a single skinned tank is in good condition it does not need to be replaced.
The most likely cause of an oil leak is not the tank, but the line to the house and it usually gets damaged at its exposed points so leaving the tank and entering the house.

Good to hear you are feeling better about it. It's such a stressful process, it's so easy to end up with your head just spinning with it all.

That's really helpful, thank you.

It really is, and the longer it drags on it just gives you time to overthink everything.

In my experience many of the things flagged in older properties just come with the territory. If I were your sellers I’d hang on until a buyer who understood this came along.