Worrying survey - want to revise offer

[Glitterbaby17]

Please be kind - single mama purchasing for the first time on my own after a tough couple of years. I put an offer in on a property that was accepted for £20k below offering. Property had been on for 6 months and already reduced. I could see possible damp at ceiling and in a back room.

Survey came back with 2 pages of urgent issues, including major roof issues, possible shifting due to surface water problems, crack in garage wall, rising damp etc so I have had a couple of tradesmen/builders in for a quote. Main takeaway was there were issues that weren't typical of a property of this type and age.

The roof needs taking off and elements replacing (most tiles can then be reused), more down pipes are used as that's causing some of the leakage, ceilings need completely re boarding upstairs, damp course on ground floor needs sorting, leaking pipe under shower downstairs is partly responsible for damp floor - and needs to be taken out in order to be fixed, place needs re wiring and to sort surface water issues a new sink away or two are needed and some levelling in garden.

It's going to be £50-60k work before you allow for the subsequent decorating etc. I'm intimidated and a bit scared as am not a DIY queen.

Am I terrible to reduce offer by 40k (thinking it may end up at 30 less). It's a probate sale, and I'm also chain free as ex buying me out. Feeling overwhelmed so advice would be welcome.

With major works like this, I wouldn’t trust the sellers to make good as they will be wanting to save money, and won’t be the ones living with resultant issues. It wasn’t their home so they won’t even have the pride in ownership / emotional connection etc of the people who lived there, which might encourage them to do a better job of it. The trouble with probate properties is sometimes they have been neglected for many years by an elderly person unwilling to see the issues, or unable to deal with them (I have experience of this unfortunately). Yes you already have £20k off, but it still sounds massively overpriced! What do similar, sorted, properties on the street go for? This would need to be a minimum of £100k less to cover the risk of cost and scope creep, not to mention the difficulties in living on a building site, managing a building site, and doing it with young children (and yea, I know this one from experience too alas!) If this is the only way you can buy a big enough property in the right area (eg schools, family nearby etc) then MAYBE consider it if you can get enough of a reduction. As others have said, it sounds like the mortgage company will reduce their valuation, which gives leverage. If there are other, easier, suitable houses available though, I would avoid this one!

As per @AllTheChaos , why put yourself through this?

I don’t think people are terrible to offer less after an awful survey at all.

But in your case @Glitterbaby17 I wouldn’t proceed with this house. There will be another one in future that is better for you.

It's a shame @Glitterbaby17 but don't make this house your problem...I'm also a single mum looking for a house, so I know exactly how difficult it is, and you really don't need any more to deal with than you've already got. You did right to get such a detailed survey and it was well worth the money because it's done its job.

Best of luck finding somewhere else.

No i would walk away from this one ours was a doer upper due to not been done up in a while, needed no where near the work yours does and so far we have spent around £12k and this is over the last five years no roof work no damp treatment

Offer Subject to Survey
The clue is in the full description.

If you foresee £60-70k to sort it then you have to practical options.

• Withdraw your offer and walk away. Sensible.
• Reduce your offer by at least £80k. There's always more that needs to be done once you start picking at the scab.

You'd be mad to go ahead. That 50-60 will very quickly become 100+!!!

Walk away.

We're updating a 60s home, without any of the structural difficulties your property has, and because we're using trades as we're skills and time poor, have spent £13k already. That's on two bedrooms fully plastered and carpeted, electrical updates and 1 wall repointing/brickwork and new cladding.

Everything costs double we were expecting.

We budgeted £50k worth of work, but have recalculated it at £85 now we're in it.

A friend of mine moved with her kids to what she thought was a slight doer upper. The stress of the damp and cold, and never ending problems, led to her having a mental breakdown.

I think I’d go easier on myself if I were you OP. When I was in your situation I bought a new build off plan. It felt like a secure, clean and fresh start, nothing to do but enjoy our new space and freedom.