MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
So…we’re part way through trying to move house. We’ve sold ours. We have spent a long time trying to find the right one, we did find a house we really liked, it ticked most of the boxes.
It’s an old detached house, over 100 years old. The owners had done the majority of the modernisation since living there for 4 years. Internally it was great. But they did state they’d left “tidying up the external stuff” till last, but now they’ve split so selling up. This is what attracted us as we don’t have a huge cash budget to take on a doer upper. (also I just don’t want to spend my spare time doing that! We did that with current place)
But the survey (structural) came back with a fair amount of costly work we weren’t prepared to get into, walls beneath the render were needing tying (I did notice vertical cracks), chimney stack leaking, garage roof needed replacing asap as leaking, flashing missing, pointing needs doing in places and a rather extensive list of other stuff. We didn’t budget for it and I don’t want a project. So we both decided to cut losses and pull out of the sale and search for something else, this was a couple of weeks ago. I’m still happy we made the right decision.
Here’s the thing, the estate agent has contacted me today, and they have someone else who is interested in buying the house. The agent obviously informed them it had sold, but we pulled out, who knows what he actually said to them.
But these prospective buyers want to know if they can have the survey report for a token gesture of £50. Now I spent £670 on it. It was my choice to have a full structural survey done. I paid up for it. I kind of feel a bit miffed someone else is trying to get it for £50, and I don’t want to! Am I being mean/unreasonable thinking this way?? It is I suppose.
The system as it stands is the wrong way around I think. Really what should happen is, when you list your house for sale you should get a survey done alongside the EPC for prospective buyers to view when making the decision. But it's not
The system as it stands is the wrong way around I think. Really what should happen is, when you list your house for sale you should get a survey done alongside the EPC for prospective buyers to view when making the decision. But it’s not
Wasn't that idea proposed/trialled, thought it was? - does sound like a good idea rather than having numerous prospective buyers doing their own survey every time.
As for your £670 survey, a token gesture of £50 is taking the piss - £2-300 and I would be selling it.
Tell them to jog on and/or offer to half in
Really what should happen is, when you list your house for sale you should get a survey done alongside the EPC
I wouldn't trust the report commissioned by the person selling the house anyway
I wouldn’t trust the report commissioned by the person selling the house anyway
This is a good point^
But these prospective buyers want to know if they can have the survey report for a token gesture of £50. Now I spent £670 on it. It was my choice to have a full structural survey done. I paid up for it. I kind of feel a bit miffed someone else is trying to get it for £50, and I don’t want to! Am I being mean/unreasonable thinking this way?? It is I suppose.
No, they are being cheeky bastards. Tell them to come back with a sensible offer, given that they must know that buying the place without a structural survey would be madness.
I pity the vendors if this is their new buyers' approach.
Firstly as the current custodian of a 100+ year old 'fixer upper' you did the right thing, it's not a project, it's an endless, and thankless job you'll be doing for the rest of your life. I live in a street of houses built around 1900 and this isn't hyperbole, in the 3 years we've been here there has never, not once, been less than 3 of them (out of 47) that isn't clad in Scaffold or with 3 large builders vans parked outside.
We toyed with the idea of buying ours (we rent) the owners wanted £400k for it, way more than we can afford, a builder sucked his teeth, walked around it and said "Up to you mate, but it'll be £50k to make it sound, plus that again if you want it modernised".
Anyway, as for the survey. You did the right thing, you paid for it, it highlighted you really didn't want to buy that house - you've had your money's worth. It's of zero value to you now. You can have £50, or not, it's up to you. If you want, offer it to them for £335, it's half what it will cost them to have a new one completed.
I’d offer it up for half price or tell them to pay for a full one. 50% off it’s a bargain.
I’d offer it up for half price or tell them to pay for a full one. 50% off it’s a bargain.
This.
Can see both sides really.
You paid for a survey that has done the job it was supposed to do, and now it has Zero value to you, so why not pass it on for a small fee to someone who can use it.
On the other hand, why should you pay full whack and the other person only pay a small fee ?!
What would you do if it was newspaper you had bought and read fully ? It’s “sort of” the same logic, just in a bigger scale.
I would say 50/50 split as you are both getting the same benefit. But I’m tight 😆
Awesome - thanks for response all. I feel better now.
My first thought before reading any of the comments was "50% seems fair." What are they going to do, they can either have a half price survey or a full price one.
I wonder what they'd sell it to the next prospective buyer for?
Oh, I know, whatever they offer, knock that amount off the price. £50 you say? Sure, you can have it for £620.
and now it has Zero value to you, so why not pass it on for a small fee to someone who can use it.
It doesn't have zero value if the new lot are prepared to pay a few hundred for it, does it? So the 50/50 suggestion is a better one.
It's basically the equivalent of the OP getting a half-price survey on the next money pit he takes a fancy to!
I'd view it as £50 is £50 .. but it does sound a bit cheeky given it cost the best part of £700... but then again it saved you £XXXXXX already. I guess the more you say "you really might want to see it" the more they might just think ... hmmm... just walk away anyway???
As it sounds like you did the right thing ... and it already saved you you could also try and turn it into the gift that keeps giving ? £50 or £100 to let them see the survey but not then resell it ....
We sold the survey on a house we had to pull out of. Got £300 for a £650 survey IIRC
It’s basically the equivalent of the OP getting a half-price survey on the next money pit he takes a fancy to!
But they're so pretty 🤣
Take half, but be sure to make it clear that you retain the rights to the survey and it can't be sold on to any additional potential buyers.
I'd give it to them for free, well a slightly doctored version of it!
50% sounds like very money very well spent for them.
For £350 it's well worth it. You might be saving them a lot of money and grief if they decide to pull out. How do you know the estate agent hasn't offered it for another price and is making a turn?
I wouldn't sell it. I'm sure that by selling it on, you are then responsible for what it says. I the survey missed something, they might try coming after you for compensation. In my view, you'd be putting yourself at risk, for little reward.
I wouldn’t sell it. I’m sure that by selling it on, you are then responsible for what it says. I the survey missed something, they might try coming after you for compensation.
No. They'd go after the surveyor who produced the survey and make a claim against his Professional Indemnity insurance which wouldn't cover them because they had no contract with the surveyor.
Sell them the name of the surveyors who produced the survey and let them agree a price with them for a copy with their name at the top.
Would the new buyer would have any comeback on the surveyor if it turned out that they'd missed something? I appreciate that this is unlikely as most house surveys tend to be worrying worst-case scenario arse-covering documents that tell us that the place wasn't built to the latest standards and regulations... Anyway, could there be some issues around liability if you sell the survey on?
Another thing to note - if the the new buyer is taking out a mortgage secured against the house, their lender will probably insist on at least a basic survey being carried out by their trusted surveyor - in which case, perhaps the new buyer is only interested in the difference between a basic survey and a full structural survey...?
I’m sure that by selling it on, you are then responsible for what it says.
I don't think so. The OP has no professional relationship or responsibility to the new buyers, and no requirement, or ability, to validate the contents of the report.
Would the new buyer would have any comeback on the surveyor if it turned out that they’d missed something?
No.
Perchy has it, really. I personally wouldn't piggyback on someone else's report, as there is no comeback to the surveyor if there is a problem which should have been spotted.
However, if someone offered me a reasonable sum for my old report, then I'd be happy to oblige. Not for 50 quid though.
Good thinking by either the new buyer or estate agent TBH.
Butt yeah £50 sounds low, Id reply saying £300- £350 sounds right.
Those things you described are kind of normal for old places - they all need varying degrees of modernisation. If they don't and have had everything done, you'll be paying for the privaledge. Or you will have to go for a new build packed onto a tiny plot
I wouldn't let things like a leaky garage roof put you off...I have a leaky asbestos one that needs sorting - its been up since the 50s, and in the 3 years I've been here, I've added some internal guttering and its fine till we replace the lot.
Think yourself lucky, a mates sister is currently having a nightmare with a property she bought and that was after a 1000 quid survey. The only thing they really picked up was a loose ballustrade. It appears the house is now falling down and an indie surveyor set on by her insurers has devalued the 450k house by 150k. It would also appear the vendors knew of the issues and she has proof of this but I can't go in to details. The shit storm is well and truly only just starting. Feel very sorry for her.
The survey is worth what someone will pay for it. It’s value to the new buyers is purely as information whereas your £650 was also buying the surveyor’s PI cover. That’s probably more of he ‘cost’ of the survey than the surveyor’s time preparing it.
As Perchy notes, there will Ben zero liability for anyone, including the surveyor, in relation to a third party user. There will be a specific disclaimer to that effect at the front. The surveyor will probably have retained the IP rights so if the new purchaser wants the survey and the liability cover they could just pay for a new copy.
@wrightyson That is a total nightmare!
Enough to send anyone running for the nearest new build box.
Sure, anything can happen with houses. And they need money spending to maintain, but nobody in a standard family home can budget for that situation!
…The surveyor will probably have retained the IP rights so if the new purchaser wants the survey and the liability cover they could just pay for a new copy.…
Almost certainly retained. PP unsurprisingly nails the situation. Surveyor is likely to offer either a copy of the survey to the prospective purchase for the same £650 or a letter of reliance for lower - in my experience £250 or so. In the OP’s situation, I’d contact the surveyor and ask what he’d charge for a LoR and then set a price for a copy accordingly - I’d expect £150 or so.
Think yourself lucky, a mates sister is currently having a nightmare with a property she bought and that was after a 1000 quid survey. The only thing they really picked up was a loose ballustrade. It appears the house is now falling down and an indie surveyor set on by her insurers has devalued the 450k house by 150k. It would also appear the vendors knew of the issues and she has proof of this but I can’t go in to details. The shit storm is well and truly only just starting. Feel very sorry for her.
There should be some sort of recourse there, morally if nothing else. You would have if they sold you a second hand motor and didnt disclose there was a major issue.
When we bought the place we are currently doing up to live in, the people who were going to buy it pulled out after a survey as it had "extensive damp in lounge and bathroom". They got a damp company in to quote to repair, and were told £10k + ( this was info i managed to squeeze out of the estate agent although i only took what they said with a pinch of salt)
That combined with it needing replacement central heating and a rewire plus a new bathroom and kitchen was enough to put them off.
Extensive damp my arse. Ok we have tanked the front wall, plasterboarded etc at a cost of around a grand.
When we stripped the bathroom tiles and wallpaper we found the walls were bone dry and had already been tanked etc.
So all the damp in the bathroom (it was visible on the orginal papered walls ) must have been caused by condensation.
I took my builder mate to have a proper look, and IMO that was far more in depth than any surveyor would have been. It should be tip top when i go for a mortgage on the place, so will be interesting to see what their surveyor comes up with.
The separate garage has a leaky asbestos roof (felt over osb) so that will be over clad with single skin sheets. Keep the original in place to save the hassle of removal.
I'd guess they're offering a pittance because they don't want to use it as their full survey, just to check the work needed before having their own survey done (or seeing if it's worth it).
Well yesterday I replied to the agent, offering the prospective buyer 50/50 split, £335. He was trying to keep me sweet, as he knows we're still on the hunt for a house.
Let's see if the buyer comes back. I very much doubt it.
For £50 just make a copy and redact all the juicy bits with a black marker.
RM.
Would the new buyer would have any comeback on the surveyor if it turned out that they’d missed something?
In my experience (of reading the small print) even the original client of the surveyor has no recourse to claim for anything, the caveats and exemptions are so extensive.
But you have to get a report of some sort, according to most lenders.
even the original client of the surveyor has no recourse to claim for anything, the caveats and exemptions are so extensive.
We claimed £6k off our surveyor for failing to spot asbestos.
I’d guess they’re offering a pittance because they don’t want to use it as their full survey, just to check the work needed before having their own survey done (or seeing if it’s worth it).
Agree, though as I said earlier £50 is still £50.
If this was ME ... I'd pay £50 as a way to screen ... I'd turn down the place based on a 2nd hand report but if I was then going to go and potentially buy I'd pay the full amount.
We claimed £6k off our surveyor for failing to spot asbestos.
Excellent! Pleased to hear it. Maybe my naturally cynical default needs a review...
🤔
*Maybe*...
There should be some sort of recourse there, morally if nothing else. You would have if they sold you a second hand motor and didnt disclose there was a major issue.
No you wouldn't. Caveat emptor. As long as they haven't lied there is no comeback.