Vendor Getting Survey Done

AsianDub

Highest bidder on a property for the last few weeks. Final viewing last week and was told vendor would make a decision by the end of the week. EA informed me yesterday that the vendor is getting a survey done on Monday and has suspended bidding.

Any idea why the vendor would be getting a survey done? I asked the EA but no reply. Built in 2006 and I saw some minor looking cracks upstairs in one of the bedrooms. Could it be pyrite?

Gumbo

Could possibly be getting a survey to either discount pyrite or any other issue.
They sound like responible owners in that they are getting this done now rather than saying nothing and allowing the sale to go though.

PMBC

kceire wrote: »

Could possibly be getting a survey to either discount pyrite or any other issue.
They sound like responible owners in that they are getting this done now rather than saying nothing and allowing the sale to go though.

Yes. Or not waiting for purchaser to have his own survey done, thus delaying completion of the sale.

Alkers

Or their mate is a surveyor

The_Conductor

Some lenders insist on a survey for any property over 10 years of age (BOI apply this haphazardly for example). It most probably is purely a formality.

Gumbo

PMBC wrote: »

Yes. Or not waiting for purchaser to have his own survey done, thus delaying completion of the sale.

I would always recommend a buyer get their own survey done, even if the vendor has one done recently.

Penalty

Does it really matter why they are doing the survey or whether its their mate doing it for them.

When its sale agreed the buyer will be getting their own survey done. Nobody is going to just rely on the vendors survey.

L1011

This would ring alarm bells in my head - the risk of there being an issue that'll be magically missed on the provided survey is something that could always happen. The suspending bidding could be because another bidder has got one done and it shows something wrong and they know there's a chance of not being able to sell. Still alarm bells there.

davo10

My guess is that all bidders will be supplied with the survey report next week and asked to make a final offer. Most bids are made "subject to survey", now all bidders will have one, but I personally would get my own one as well.

I have to disagree with the above poster, if there was anything untoward going on, what would be the benefit to the vendor of telling bidders about the survey? That is something that the vendor would do very quietly and hope the buyers survey missed it.

Op, if I were you I'd phone the EA and ask what is going on.

Gumbo

L1011 wrote: »

This would ring alarm bells in my head - the risk of there being an issue that'll be magically missed on the provided survey is something that could always happen. The suspending bidding could be because another bidder has got one done and it shows something wrong and they know there's a chance of not being able to sell. Still alarm bells there.

But this survey is irrelevant to the buyer. The buyer will be getting their own survey done once offer is accepted ?

The op already stated that another survey picked up on cracks so the house owner is getting them checked out for themselves and rightly so. If I was the vendor I'd do the same, I don't want a possible. User knocking thousands off their original offer because they say the cracks could be structural and need major repairs so both parties are protecting themselves here imo.

I've see it done many times from being in that area of work.

AsianDub

Thanks for the all the replies. I would definitely be getting my own survey done. I've been sale agreed before and have gone through the motions. I would never just take a vendor's survey.

Just to put it straight that I did not state that another survey picked up on cracks. I just noticed them myself and wondered if this could be why the vendor is getting a survey themselves for some reason or another.

Anyway, will be onto the EA tomorrow and let you know how it goes

the_syco

AsianDub wrote: »

I would never just take a vendor's survey.

What their report doesn't say, compared to your one, would be interesting!

AsianDub

Vendor spotted cracks. Getting survey done for peace of mind. Release report to the bidders and placing back on market when done.

Samuel T. Cogley

FWIW I was advised the only way to be sure on Pyrite (presumably in our situation - no significant cracks etc.) was to get some kind of bore done at the cost of about 6K.

Michael D Not Higgins

Libertarian Kant wrote: »

FWIW I was advised the only way to be sure on Pyrite (presumably in our situation - no significant cracks etc.) was to get some kind of bore done at the cost of about 6K.

A survey will give the surveyor's opinion on the cause at least. If it's an at risk area and the surveyor considers the cracks more than superficial, it obviously points a particular way.

At least the vendor is being transparent and up front about the survey and its outcome.

Gumbo

Libertarian Kant wrote: »

FWIW I was advised the only way to be sure on Pyrite (presumably in our situation - no significant cracks etc.) was to get some kind of bore done at the cost of about 6K.

The first inspection is visual. You look out for tell tail signs of Pyrite, cracking arrangements, stud wall punching through ceilings etc.

You then classify the findings and decide if further inspection or monitoring is required.

But, as you say, the only sure way to confirm Pyrite is to take a sample of the dub floor fill material, and that involved boring a 100mm/200mm hole down through the ground floor slab.