Having only moved once and being no expert in these things, I turn to the STW massive.
I have sold my flat and can move out. The chain-free house I had an offer accepted on a few weeks back had the basic mortgage survey done last week. This morning I got the results. It is a much improved 1920's 2 bed semi and due to the improvements they've made I know I am paying a high-ish price (yes I would buy a wreck and do it up if I could) but without not wanting to bore you anymore, would you be concerned with a few survey notes?
Are repairs recommended as a condition of the mortgage - yes.
1. Instruct a specialist contractor to inspect the whole property and report on internal dampness and the condition of all timbers.
2. Instruct a qualified electrician to inspect the electrical installation and carry out recommended works in accordance...
The property's frontage onto a busy main road and the proximity of some non-residential use property, including a petrol filling-station may deter some purchasers and affect marketability.
Structural alterations have taken place to a ground floor partition wall, the rear chimney breast and the roof structure. It is not possible to establish if adequate structural support has been provided without some destructive investigation but there is no evidence of instability.
Other important info: The purchase price is considered to be at the top of the acceptable band of values applicable to to a property of this type and size in this location.
Seem pretty bog stanadard things for them to ask, we had to get our wall ties inspected when we bought ours.
standard shit but if they are a condition of the mortgage negotiate a reduction in price.
Standard stuff about the wall/chimney although worth checking that the structural stuff has been done ie there is something more than hope holding up the rest of the chimney/upper floors etc.
Thanks guys. It's worded 'recommended as a condition of the mortgage' that I have these things checked. I just spoke to the conveyencer who said ask the vendor for a reduction due to the above points.
Standard stuff, basic mortgage surveys are what they are , BASIC. Has it been rewired, and if so by who? Get a specialist to inspect timbers , dry rot can be an expensive problem to fix. As for the structual alterations , again try and find out who did them , where they a DIY job or professional, again "professional builders" is no guarantee of quality. I would follow the surveys advise, for peace of mind and negotiating on a price reduction especially in this market. See here for further details [url= http://www.rics.org/ ]RICS[/url]
Edit, I would advise that you do get these things checked , dry /wet rot can be expensive to fix were talking £000's . If the chimney breast has been removed on the gound / upper floor , what is supporting it , RSJ , wall plates , your looking around £1100 - 700 to get that fixed.
damp is easy to measure - get one of these
http://www.amazon.co.uk/Rapitest-RAPDTM118-Damp-Test-Meter/dp/B0001P0JZU
and poke all the walls with it, it'll identify where there is\isn't damp
otherwise, they're probably telling you the fusebox is a bit old, so any future electrical work will be a little more pricey, and that you're spending too much, but not screwing up your chances of getting a mortgage
The basic mortage survey is purely there for the mortage companies benefit, they're checking the house isn't about to end up a pile of bricks. Ideally you should get your own survey done, especially on a 1920s property that has lots of renovation. When we sold our last house all the buyers mortage surveyor did was look up and down the outside of the terrace to check the walls weren't bowing out, that there was felt under the tiles and there wasn't any damp (luckily his sample of 2 points missed all the damp bits). No mention of the failed double glazing units, leaking and bodged soil pipe, inappropriate conversion of the attic into a bedroom etc. He wasn't at the house for more than 10 mins.
The bits about getting other professionals to survey wiring / timber etc. are standard get out of jail free comments. All it means is the mortage surveyor hasn't checked / isn't qualified to check these things.
Oh and final bit of advice, don't buy a house from me 😉
If the present owners had the structural work done then they should have a completion certificate to show it was done according to building regs - ie the right calculations done on any steels used etc.
If you happen to know any builders or just someone who has bought a few houses - ask them to come and have a look with you - they will probably be able to spot any damp and see whether the electrics look up to scratch.
If you're looking at this as an investment - better to buy the worst house in the best road than the best house in the worst road - in other words the petrol station would count very heavily against in my view.
No point buying one at the limit of the location, move on to a worse house, better street.
Re the structural staff I would see proof of all building regs approvals and guarantees from builders and their insurers (scarcly worth the paper but nice to see exactly what class of cowboy you will be making good over the period of your ownership) and in my opinion if it was DIY structural alterations I would walk away.
Re the damp I would trust your own nose - does it smell musty? If not have they got all the windows open and the coffee and bread makers going full tilt to cover it up? If nothing suspicious and it doesn't smell damp then I would not worry.
Electrics sounds like either its a standard caveat in which case ignore or the wiring has been done recently (please not DIY????) and it looks a bit suspect in which case get a pro electrician in as suggested.
Without seeing the report or the property its hard to comment further. Surveyors can be notorious old wusses that think only about caveats but on the other hand there are alot of terrible builders and even worse DIYers that can quickly make a house simply not worth buying at any price.
Just remember this is the worst recession in decades and the housing market is toast and will prob remain so for many years so its a once in a lifetime opp to drive a hard bargain. Be bold!
Thanks so much for all your replies, basically reinforcing my doubts but bringing up some good points. As stated it's hard to know if the surveyor was being picky and a bit of a jobsworth, or suggesting I get these things done as it looks a bit dodgy, or just covering his own back and all standard stuff. If I wasn't planning on paying top money I'd be less picky. Then again, if it is made of cheese I'd rather spend money on bike stuff than stay in admiring my new reinforced chimney breast. 😯
I've got a mtb builder mate and a electrician who are going to have a look tonight anyway, then I can think about further tests or, getting money off.
The whole damp proof course scam has now been outed. There's a link on the RICS website about it. Most damp problems are caused by problems with water coming in at the top of the building or lack of ventilation.
Get some mates to look round with you, they'll be less emotionally attached and so will hopefully see things that you're too excited to see.
IMO mortgage surveys aren't worth the paper they're written on and are solely to protect the mortgage company and allow you to attempt to knock money off.
You should have seen the list of things they found wrong with my property, which was only 12 years old!
😉
If it worries you (like to sleep well at night), get the specialist in for a better idea.
We had a 'basic' mortgage survey done last year when we remortgaged (we are classic 'rate tarts'!). Normally we don't even see the surveyor. This time he was there for 4 hours and looked at everything and noted even the slightest defects and took photos! Apparantly some lenders now go for the full monty survey seeing as they lent silly amounts to anybody for anything that had a valid postcode. It was strange to say the least