Hey all.

Finally in my 40s I’m fortunate enough (with a lot of family help & a mortgage) to be buying a home. It’s end-of-terrace; just spoke to the surveyor today after he’s done most of the inspection and he’s found a lot of structural problems.

Feeling a bit defeated, it’s taken so long to get to this stage of having an offer accepted, and being close to exchanging contracts. It’s an old house so while I wasn’t expecting it to be fault-free, I’m quite disappointed and I guess looking for some advice / reassurance.

Not got the report in text yet but he mentioned potential subsidence; rising damp; cracked walls; problem with the chimney stack; window frames; and others. Said it’s all stuff that can be fixed, but potentially expensive. My plan is to wait for the text report next week, then contact the estate agent and attempt to negotiate a price reduction in line with the cost of the repairs, which imo will run into at least £15k. Considering it’s on the market for £85k, and the owner wouldn’t even put the electric on for viewing because she didn’t want to pay £1 a day standing charge, I’m anticipating some pushback.

But, should I even bother? Is this ‘sunk cost fallacy’ at play? I certainly feel like if they’re not prepared to negotiate re repairs then I have to walk away as I could buy a well-maintained property round here for the total cost of around £100k!

Any advice much appreciated.

  • SHITPOSTING_ACCOUNT@feddit.de
    40·
    11 months ago

    owner wouldn’t even put the electric on for viewing because she didn’t want to pay £1 a day standing charge

    I bet the real reason is that turning on the power would reveal more trouble.

    • Bleeping Lobster@lemmy.worldOPEnglish
      8·
      11 months ago

      I’m often told I can be negative with regards to the intentions of others but this definitely crossed my mind. I’ve reiterated many times the importance of the electrics being sorted because I write music, I’ll have ~£15k of equipment in one room and do not want my new home burning down or my kit damaged due to faulty wiring.

      Interestingly / worryingly, the electrical cert they handed over at the start of this process hadn’t even been signed (though the company appears to exist).

      • Buddahriffic@lemmy.world
        7·
        11 months ago

        Not sure how the laws work in the UK for informing people about potential problems, but you might be doing someone else a solid if you forward the inspection report to the current owner and their agent with clear documentation proving you did even if you just plan on walking away at this point (which I would also suggest because even all the things the inspection found might only be scratching the surface).

        Where I am, if you aren’t aware of a problem (and aren’t completely negligent to be unaware), you aren’t guilty of fraud for not declaring it. But if you do know about it and neglect to inform a buyer…

        • Bleeping Lobster@lemmy.worldOPEnglish
          1·
          11 months ago

          This is a really good idea. My dad and I were saying yesterday it’s such a waste of resources for each buyer to have to get a survey done, especially where the property has hidden issues. Would be great to have some sort of national register, where the first person to pay for a survey can then give access to subsequent buyers for a nominal fee.

          I’m definitely going to give the estate agent a politely-worded email stating clearly that the seller is being at best neglectful and at worst, deceptive. I’m sure they won’t be happy either about having their time wasted. I’ll also pass a copy of the survey on.