Auction house - no engineer report

richy

Hi there,

Not sure if people will be able to help from the description but said id ask anyway.

We are looking to buy an investment property to rent out. There are two houses for sale right next to each there at auction next week so there will not be enough time to get an engineers report as the estate agent says they are snowed under and travelling a 100 miles to the property as they are based in a different county.

Went to view them today. 3 bed AMV is 61k and the 2 bed is 71k. Both have been unoccupied for a year minimum.

The 2 bed (71k)is in pretty good condition. A small bit of mold in the bathroom and a small bit in one of the bedrooms.

The 3 bed has extensive mold in 2, maybe 3 of the rooms but is 10k cheaper and is an extra bedroom.

There is not time to get an engineers report on the house before the auction is due to be held. Just looking for general opinions on buying a house without a report etc.

The 2 bed house is an end of terrace house and the 3 bed is next to it. I feel like the 2 bed is a safer bet due to the lack of mold than the 3 bedroom one, but the 3bed would have a bigger pay off if we could get the mold fixed etc.

I did notice the 2bed house had condensation in the windows when we were visiting which is obviously not a good sign. Was a very wet day but still.

Is there adequate ways to completly vent a house to remove the change of mold reappearing. Buying a house with returning mold is one of our biggest worries about renting it out to long term tenants.

Any other advice appreciated too.

Thanks

MicktheMan

richy wrote: »

Hi there,

Not sure if people will be able to help from the description but said id ask anyway.

We are looking to buy an investment property to rent out. There are two houses for sale right next to each there at auction next week so there will not be enough time to get an engineers report as the estate agent says they are snowed under and travelling a 100 miles to the property as they are based in a different county.

Went to view them today. 3 bed AMV is 61k and the 2 bed is 71k. Both have been unoccupied for a year minimum.

The 2 bed (71k)is in pretty good condition. A small bit of mold in the bathroom and a small bit in one of the bedrooms.

The 3 bed has extensive mold in 2, maybe 3 of the rooms but is 10k cheaper and is an extra bedroom.

There is not time to get an engineers report on the house before the auction is due to be held. Just looking for general opinions on buying a house without a report etc.

The 2 bed house is an end of terrace house and the 3 bed is next to it. I feel like the 2 bed is a safer bet due to the lack of mold than the 3 bedroom one, but the 3bed would have a bigger pay off if we could get the mold fixed etc.

I did notice the 2bed house had condensation in the windows when we were visiting which is obviously not a good sign. Was a very wet day but still.

Is there adequate ways to completly vent a house to remove the change of mold reappearing. Buying a house with returning mold is one of our biggest worries about renting it out to long term tenants.

Any other advice appreciated too.

Thanks

Unoccupied for over a year probably means unheated for over a year which probably might be the cause of the mould. Probably. Assuming of course that the source of the moisture supporting the mould is not penetrating. All mould issues are solvable but if planning on installing tenants then a belt / braces approach is best (talking here about properly designed mechanical ventilation and proper heating).

Sleeper12

How old are the properties?

richy

MicktheMan wrote: »

Unoccupied for over a year probably means unheated for over a year which probably might be the cause of the mould. Probably. Assuming of course that the source of the moisture supporting the mould is not penetrating. All mould issues are solvable but if planning on installing tenants then a belt / braces approach is best (talking here about properly designed mechanical ventilation and proper heating).

I reckon the house that was in better condition was just due to not being heated for the year. The other house had large black swathes that were covered in black mold so that could be penetrating. I know it was all over the bathroom roof in the worse house as well as quite bad on one wall in the back bedroom.

There is a back yard about 10 feet deep and then a 15 foot cliff that I imagine rain water would run down and potentially add to the dampness. The worse house did have single glazed windows too I reckon.

If it was penetrating dampness in the second house, any idea whats the most it would cost to be fixed do you reckon? I know its very hard to give a guestimate. Its a mid terraced house. If you have no idea, its no worries.

Sleeper12 wrote: »

How old are the properties?

Not sure but its the inner city and I reckon it must be at least 100 years old. Honestly have no idea though.

Stanford

Just looking for general opinions on buying a house without a report etc.

DON'T DO IT

Sleeper12

Stanford wrote:

DON'T DO IT

I'd agree. Especially if the buildings can be 100 years old.

I'd be surprised if op can't get an engineer to inspect in time. Possibly a local engineer who wouldn't have to travel as far

Victor

Realise that with an auction there is no backing out - you are buying the property as-is. Dud building, dud land, dud title - you are stuck with it.

Who is doing the bidding for you? People who bid for themselves can lose the run of themselves.

richy

Stanford wrote: »

Just looking for general opinions on buying a house without a report etc.

DON'T DO IT

Sleeper12 wrote: »

I'd agree. Especially if the buildings can be 100 years old.

I'd be surprised if op can't get an engineer to inspect in time. Possibly a local engineer who wouldn't have to travel as far

Victor wrote: »

Realise that with an auction there is no backing out - you are buying the property as-is. Dud building, dud land, dud title - you are stuck with it.

Who is doing the bidding for you? People who bid for themselves can lose the run of themselves.

Thanks for the replies guys.

Ye are probably right that its too risky. Any tips for future auction properties that I will be looking at? Completley new to the process. Most auction houses I have seen have one or two open days. How do I work around this to ensure an engineers report is done. Turn up with one at the first viewing?

Any other general advice appreciated.

Sleeper12

richy wrote:

Ye are probably right that its too risky. Any tips for future auction properties that I will be looking at? Completley new to the process. Most auction houses I have seen have one or two open days. How do I work around this to ensure an engineers report is done. Turn up with one at the first viewing?

The open days are for viewings. I doubt they would entertain an engineer on those days. Go view the properties & the one or ones that you may be interested in send in an engineer between the viewing date & auction date. It will get expensive if you send the engineer to several properties

davindub

richy wrote: »

Stanford wrote: »

Just looking for general opinions on buying a house without a report etc.

DON'T DO IT

Sleeper12 wrote: »

I'd agree. Especially if the buildings can be 100 years old.

I'd be surprised if op can't get an engineer to inspect in time. Possibly a local engineer who wouldn't have to travel as far

Victor wrote: »

Realise that with an auction there is no backing out - you are buying the property as-is. Dud building, dud land, dud title - you are stuck with it.

Who is doing the bidding for you? People who bid for themselves can lose the run of themselves.

Thanks for the replies guys.

Ye are probably right that its too risky. Any tips for future auction properties that I will be looking at? Completley new to the process. Most auction houses I have seen have one or two open days. How do I work around this to ensure an engineers report is done. Turn up with one at the first viewing?

Any other general advice appreciated.

Always check the vendor has title before bidding (solicitor will need to perform conveyancing). Not cheap or quick so allow enough time.

the_syco

richy wrote: »

there will not be enough time to get an engineers report as the estate agent says they are snowed under and travelling a 100 miles to the property as they are based in a different county.

Went to view them today. 3 bed AMV is 61k and the 2 bed is 71k. Both have been unoccupied for a year minimum.

First off; if you could view the properties, then IMO so could an engineer. I'd wonder if the EA doesn't want an engineer to view the places because there's an issue?

I'd say if the EA is trying to put you off getting an engineers report, walk away.

If you can view the place on Monday, and the auction isn't until Tuesday or after, try to get an engineer in on Monday. It'll probably cost you, but could save you a lot more if they find anything substantial.

I do find it odd that the two houses are being auctioned together; are they by themselves, or part of an estate?

Askthe EA

the_syco wrote: »

First off; if you could view the properties, then IMO so could an engineer. I'd wonder if the EA doesn't want an engineer to view the places because there's an issue?

Not at all. Its an auction. The EA gets paid whether it sells or not. More if it sells but gets a fee even if it doesnt. Its more likely the truth, its too far to warrant the EA going out to meet an engineer.

But OP, why cant your engineer pick up a key?

TeaBagMania

Victor wrote: »

dud title - you are stuck with it.

that alone is enough reason to walk away