Date: 2016-04-14 01:28 am (UTC)
inevitableentresol: plant in field, romantic (Backlit cow parsley)
Well, there's no point in getting a building survey after you've bought the house. Too late then. You're stuck. But if you do find anything beforehand you can also use it as a bargaining tool for price. We did with ours and beat the seller down. There was extensive damp damage in the walls and floor of the house, but we'd intended removing all the floors and wall plasterwork anyway and building a huge extension so it actually made no difference to us.

Considering that some issues (subsidence, dry rot etc) can cost tens of thousands to put right, if they ever can be, a building report is beyond necessary. After all, you're probably going to be paying off this purchase for decades.

We also had our mortgage pre-approved but then the recession hit and it didn't mean much. The bank then told us they could still withdraw the offer any time.

The worst thing about spending hundreds on multiple building reports, plus handling fees on top, was that there was still no guarantee that we'd get the mortgage at the end of it. And at a time that we were trying to save all the money that we could so that we could get a better mortgage by having a large deposit.

It all turned out for the best in the end. Buying during the peak of the recession may be a huge hassle but financially it's great.

Slow but sure is the way to go. There's no point skimping or rushing it from your point of view.

Of course, the agent just wants their fee as quickly as possible. Our estate agent hid all kinds of serious things about the house from us. It was pretty brazen. I asked her point blank about some of them and she didn't even answer, she just laughed nervously like it was a joke. Luckily, our building report was thorough and we were prepared to have a lot of work done anyway.

Agents will hide everything they possibly can that might prevent a sale. The house we bought had also been done up to hide the problems, thousands and thousands spent to make it look like there was nothing wrong - new carpets, a new kitchen etc - which we immediately had to rip out so we could fix the walls. Take care!
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