The problems associated with a negative property report
When you have settled on a property that you want to purchase and have had your offer accepted your next steps are to instruct a solicitor and have a survey carried out on your property. In some cases these surveys can pull a number of issues that you will want to think about before taking the next step. Depending on the issues that are shown in the report and the impact these may have on your property you may either choose to find a number of quotes to fix these or you may want to consult with your Solicitor in Gloucester to see whether the seller should be responsible for fixing any of the problems before an exchange of contracts can occur or whether you choose to pull out of the purchase completely.
Here are some of the most common issues that arise in property surveys.
Older properties can be more susceptible to problems with their electrics and in some instances this can mean an entire rewiring project. These kinds of works are not only time consuming but can also be very expensive. This is due to the fact that lifting of floorboards and drilling into walls and then repairing the plasterboard is more than often necessary.
Wooden window frames
These frames types can be very attractive to those people looking to move into an older property but similarly to electrical wiring you can find that these frames rot. This will also be a long and expensive job as the frames will need to be completely replaced and new windows installed.
Initially damp can be viewed as just a cosmetic problem but it can be an indication of a wider problem such as a leaking roof or condensation issues. If damp is discovered in a property you are interested in it is important to have this investigated further to find the route of the problem.
This is one word that no-one wants to see appear on a property survey. This essentially means that the ground on which the property is standing is starting to sink on one or more sides or moving away from the foundations. It can be difficult to find a mortgage company and to get home insurance on a property that is suffering from subsistence issues.
This non-native invasive species has been causing problems across the UK for a number of years. If there is Japanese Knotweed on your property or one you are looking to purchase it is important that you have this removed by a professional company that is experienced in dealing with this troublesome plant. Again this plant can cause issues with mortgages and home insurance.