Model house with keys hanging from the chimney, symbolising homeownership.
After your offer has been accepted, many buyers choose to undertake a homebuyer’s survey. Surveys provide reassurance about the property’s condition and inform you of potential maintenance needs in the future.
While major issues should ideally be reported in the property listing, there are times when sellers may not be aware of certain problems until a comprehensive survey is conducted. If you find yourself facing a disappointing survey report.
There are three key steps to take:
1. Consult your surveyor
Survey reports can often alarm potential buyers by highlighting various risks and issues. Before jumping to conclusions, have an in-depth discussion with your surveyor about the findings. Understanding the severity and commonality of the issues will help you gauge the situation better. Your surveyor can provide valuable insights and reassurance regarding the property's condition.
2. Assess Repair Costs
If the survey identifies significant issues, research the estimated costs to fix them. Gather quotes from at least two tradespeople to get a clear understanding of the financial implications. This information will be vital for deciding how to proceed, especially if repairs require immediate attention.
3. Discuss with Your Estate Agent
Armed with insights about the severity and cost of repairs, reach out to your estate agent. A poor survey can be a valid reason to renegotiate the purchase price.
Communicate the findings to your agent and consider presenting a revised offer or suggesting that the sellers complete the repairs before finalising the sale. Keep your solicitor informed about any changes, as this will influence the home-buying contract.
Are You Buying in South West London?
If you haven’t yet found your dream home in Coombe, Kingston upon Thames, or Wimbledon, Coombe Residential is here to assist you.
We offer a range of properties to for sale in these desirable locations, ensuring you have plenty of options to choose from. Our friendly and knowledgeable team is dedicated to guiding you throughout the purchase process, making your experience as seamless as possible.
Call +(44) 20 8947 9393 or email us at enquiries@coomberesidential.com.