Buyers’ Guide on What Do When Residential Survey Report Shows Problems
In the entire house-buying process, residential surveys have a huge role to play. If the residential survey report states problems have been identified, then it means it is time to take steps before you take the keys. So, to learn in-depth, read the guide carefully to know what happens after the residential surveyors are done with their duties.
What Happens When the Residential Survey Has to Covey Anything Negative?
Step 1 – Understanding the Residential Survey Results
After surveying, when the residential surveyor comes up with a report mentioning a lot of problems, then you have the scope for renegotiating the property price. Ask the seller for fixing the defects on time.
First, understand the survey results clearly with the help of the same residential surveyor you have hired from a renowned surveying firm in Perth.
The Commonly Noted Problems As Identified by the Residential Surveys
- Damp that can be fixed after checking the causative factor.
- Structural Defects in the form of cracks and wearing down signs.
- Subsidence when the property sinks causing even the foundation to sink.
- Japanese Knotweed Infestations, an invasive plant damaging buildings.
- Roofing Problems in the form of broken, damaged flat roofing.
- Faulty Drain Pipes like sagging pipes, leaking walls and roofs and overflow lacking from the down-pipe.
- Insulation problems, like how is the home insulated.
The residential surveyors’ full Building Survey contains advice on repairs, cost estimates and the outcome if the property defects are ignored.
Step 2 – Deciding on the Repairs Cost
Once the problems are clear, then talk to the tradespeople about the repairs. Compare the quotes from the contractors to decide the one providing with ideal service. After that, allow the seller to know about the involved cost of repairs.
Step 3 – Make An Informed Decision About Whether You Are Interested in Buying the Property
House offers with "Subject to Contract" prevent you from purchasing until the point of exchange, that is when the final contracts are exchanged. So, you can move out of the sale if the residential surveyor's identified survey report shows a long-term impact with expensive repairs. Even financial institutes are against lending money till the problems have been fixed. The seller is required to fix the issues.
Step 4 – Enter Into A Negotiation With the Seller
Estate Agents handle the re-negotiations when you have a series of options in your favour –
- Communicating with the seller about fixing the survey issues before going ahead with the purchase.
- Re-negotiating with the property price based on fixes and repairs, if you are willing to buy the property.
A residential survey report might bring up problems, but in most cases, they can be solved. After that, the decision to go ahead with the purchase is completely your choice. Maybe you can do some negotiations with the price. But if the listed problems indicate long-term dangers, then you might have to reconsider your decision.
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