House Surveys - worth it??

[dave_s13]

We are in the process of moving and I'm reluctant to pay the extra 200 quid it costs for the homebuyers survey. 300 notes is already enough for someone to drive slowly past, look on google and give it a value, robbing bstds. Why?

- We have already negotiated a fair chunk off asking and I'm 99.5% sure the vendor will not drop the price further to allow for any defects.
- The property seems sound to me, 1935 brick built semi. Had a new boiler, new floor covering, new gas fires. All decorated and tidy.
- I'm confident there are no major issues after a good poke about myself. No evidence of damp. The place looks, feels and smells "right".
- The selling price means we have a reasonable budget to do the planned extension works and any other issues that may arise.

Basically I just know that if I approach the vendor with a list of little defects he will put it back on the market.

BTW house is a vacant possession, bought at auction by a one man band developer.

[ShadownINja]

Are you buying it with cash? If not, your mortgage provider will insist on a survey, surely?

In any case, a decent survey should tell you the condition of the brickwork etc (they use this magical box that tells you if the bricks are damp, for instance). I think it relies on energy fields or electrickery or something.

[dave_s13]

ShadownINja said:

Are you buying it with cash? If not, your mortgage provider will insist on a survey, surely?

In any case, a decent survey should tell you the condition of the brickwork etc (they use this magical box that tells you if the bricks are damp, for instance). I think it relies on energy fields or electrickery or something.

No it's a 85% LTV mortgage?

Going through a broker and they have only mentioned valuation surveys with the homebuyer survey being an optional extra?

Not worried about damp. The gable end of the place will be coming down anyway!

[mk1fan]

Well if you're not bothered about the actual condition of the property and are confident you've assessed the suitability of the structure for your needs then why bother with the Home Buyers Survey.

[Merlot]

I didn't bother with anything more than the valuation survey instructed by the mortgage company.

However, I am a (part) trained surveyor so gave it the once over myself with an experienced colleague to advise.

[anonymous-user]

dave_s13 said:

BTW house is a vacant possession, bought at auction by a one man band developer.

This is the only thing that would cause alarm bells to ring, if it was sold at Auction there is a reason.

[dave_s13]

digimeistter said:

dave_s13 said:

BTW house is a vacant possession, bought at auction by a one man band developer.

This is the only thing that would cause alarm bells to ring, if it was sold at Auction there is a reason.

Guy went bankrupt, couldn't pay the mortgage. All documented.

He took anything that wasn't bolted down with him. Hence why the place has been completely refitted.

[dave_s13]

anonymous said:

[redacted]

Sorry to sound a bit thick but could you expand on exactly what I would be asking my solicitor to do?

[anonymous-user]

dave_s13 said:

digimeistter said:

dave_s13 said:

BTW house is a vacant possession, bought at auction by a one man band developer.

This is the only thing that would cause alarm bells to ring, if it was sold at Auction there is a reason.

Guy went bankrupt, couldn't pay the mortgage. All documented.

He took anything that wasn't bolted down with him. Hence why the place has been completely refitted.

Hmmm, every repo i've dealt with has very rarely gone to auction, we normally have "developers" crawling all over them, unless it's unsaleable via the private treaty/mortgage route because there are other issues/factors.

You pays your money you take your chances

[dave_s13]

sorry I've told a porky there. It wasn't sold at auction at all. I sold by the halifax in normal way.

Christ knows why i said that!

Gonna take my chances I think. Whats the worst that could happen! :-)

[Si 330]

Dave there were no major structural defects I noted as I looked around.
Apart from the garage which will be coming down.

[dave_s13]

Si 330 said:

Dave there were no major structural defects I noted as I looked around.
Apart from the garage which will be coming down.

Thanks Simon.

I've knocked up some plans on autocad and have a good idea what I want to do. Whhether or not the thing would actually stand up afterward is another matter

When we get a moving date confirmed I'll be in touch as I would like you to do the necesseary structural calcs/feasability/planning application. Don't want to ask anymore of your time until we have the keys though obviously. Might all fall through yet!

Edited by dave_s13 on Wednesday 10th March 21:08

[Si 330]

dave_s13 said:

Si 330 said:

Dave there were no major structural defects I noted as I looked around.
Apart from the garage which will be coming down.

Thanks Simon.

I've knocked up some plans on autocad and have a good idea what I want to do. Whhether or not the thing would actually stand up afterward is another matter

When we get a moving date confirmed I'll be in touch as I would like you to do the necesseary structural calcs/feasability/planning application. Don't want to ask anymore of your time until we have the keys though obviously. Might all fall through yet!

Edited by dave_s13 on Wednesday 10th March 21:08

No worries just drop me a line when / if you want to proceed.

[anonymous-user]

Si 330 said:

Dave there were no major structural defects I noted as I looked around.
Apart from the garage which will be coming down.

RICS?