Q. I am buying a period property and have just had my Survey report back. Unfortunately, there appears to be a number of problems including a problem with rising damp and woodworm, and it appears it may also need a new roof. I really love the property but am right at the top of my budget with no extra funds to accommodate costly repairs; do you think I could ask the vendors to reduce the price of the house to allow for the repairs?
A. This a common problem particularly when dealing with period property. Speak to your agent with regards to the report, the surveyor will usually have recommended having professional reports carried out by specialists to access the extent of the problem and also provide you with estimated costs.
The agent will usually need a copy of the survey report to show to their client the vendor to discuss the way forward. On most occasions, in my experience, the vendor once he has seen a copy of the survey and received the specialist reports and estimates he will be prepared to reduce the price of the property to accommodate the repairs rather than lose a perfectly good buyer and start the whole selling process again.