Property News · July 31, 2017

Should I renegotiate my offer price after survey points to problems?


I’m thinking of asking the vendor to rectify the faulty damp-proofing or perhaps I can get an allowance from my mortgage lenderQ My girlfriend and I are in the process of buying a flat. We have had an offer agreed on the property and our survey has been conducted which has shown up a few worrying problems:•the damp proof injection course has failed by the back entrance leading to a 100% saturation reading;•the electrics are faulty and need a rewire and there are also sockets in the splash zone of the kitchen sink;•there is possibly a problem with a few joists in the front and back bedrooms.Do we ask the vendor to rectify the problems before we move in to the flat or do we try to renegotiate the offer? We estimate the cost of the works will be £4,000 to £5,000. Or is it possible to get an allowance from the mortgage company? It might be worth mentioning that the flat is currently vacant so any works would be done in an empty property. IL Continue reading…

Source : theguardian.com
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