Bidding on house that needs work

little_monty

Hi,

I'm currently bidding on a 1990's built house while will require fairly substantial work
(based on input from friend in house renovation business).
(bidding is currently over asking price of 300k)

I intend to get an engineer to survey if I go sale agreed !

The work will include :

1. refurbishment work (this is obvious to any joe sope)

2. an extension roof repair job (cost ~6k)
(This work wouldn't be so obvious.)

3. BER rating of house is C3 but I don't believe this as :
a. While windows/doors are double glazed - they're in poor condition and need replacing
b. wall insulation is 4" block + 4" internal insulation + 4" block ..so not great
c. oil boiler needs replacement
(costs 10 -30k depending on how much work is done)

(so less obvious work needed here)

4. Septic tank possibly needs replacement
(costs 10k)
(this work is less obvious and im not 100% its required. (full survey should confirm ?_

Since I believe there is good chance other bidders might not be aware of all or some of 2,3,4 above .. I wonder if

Q1 . If I inform the estate agent of the problems or suspected possible problems Does the EA have to pass some or all of this information on to other bidders ?

I suppose I can ask the EA if she will pass on my thoughts !
(EA has being good passing on to me answers from other bidders questions)

Q2 . As the bidding goes higher I could
a)explicitly state my bid is subject to survey finding 'septic tank doesn't need substantial work' .. OR
b) Say nothing now and bid on assumption septic tank is ok. If this turns out not to be the case after survey then renegotiate price or even pull out of purchase

Which option would be best ?

MouseTail

I think your friend is being a bit OTT, those estimates seem high, and I find it unusual a 10 year old house would need windows and septic tank replaced.


Q1 . No, of course not, all you have is someones opinion.

Q2 . B

TheDriver

not withstanding local prices, it seems like a headache you are buying. A 90's house shouldn't be in that bad a condition to be honest though C2 BER would seem about right.

L1011

A C BER is not particularly bad but the entire system is practically worthless anyway; if you think obvious stuff like windows need replacing trust that rather than what the cert says.

You would probably need a CCTV survey of the sewerage to know for sure but you really shouldn't need a septic tank replaced yet.

little_monty

thanks very much all for the very helpful comments !