Our client, Mr C, ordered a Property Survey in Lincoln. The HomeBuyer Report he received may have left him hot or cold – depending on whether he was a keen home renovator.
The Chartered Surveyor found the turn-of-the-century property to be in desperate need of an attentive and motivated owner who could rescue it from neglect.
Shabbiness at every turn in Home Buyers Survey in Lincolnshire
Wherever the Surveyor looked he saw disrepair:
- Gutters were leaking and needed realignment.
- Worn chimney stacks and roof coverings would all need attention. The roof may well need re-covering in the near future.
- Windows would all need redecorating to ensure they did not fall prey to rot.
- Poor insulation would need refitting.
- There were a large number of patchy repairs to the plasterwork that remained incomplete.
- In general, the home’s fittings were old, broken or unfinished.
Lack of structural problems gives Mr C a renovator’s reassurance
This type and age of property is generally considered a greater risk of having major structural defects. This Lincoln Property Survey reported that there was no major structural damage to the house. This would have cheered Mr C.
He would, however, be required to sink additional funds into the refurbishment and improvement of the property. Luckily for Mr C, it was just a short walk down Yarborough Rd to Musgrove & Co, a traditional local hardware store at 5 Clasketgate, LN2 1JJ. Most likely he would be investing a significant amount of money in the Musgrove family business.
Property Surveys need to be understood in context. This Lincoln home returned anything but a clean bill of health. However, the Surveyor still recommended the property as a reasonable purchase. It was his judgement that the purchase price of £125, 000 had largely taken into consideration the condition of the property and the expense of the required works.
Mr C would have to consider the property on its merits. He would be inheriting a large project. However, his Property Survey in Lincoln may have given him some power to bargain with the seller on price.