A recent HomeBuyer report on a London Property left the surveyor with serious concerns
A recent HomeBuyer Report in London left the surveyor with serious reservations about the quality of work the upper part of the block including drainage, roof coverings and chimneys as well as parapet walls.
As a result the London based Surveyor anticipated high service charges or surcharges in the future as elements of these structures deemed likely to fail.
In fact, such was the potential severity of some serious problems with the drainage system to this block of flats, the surveyor stated that had this London Survey been a been a mortgage valuation, (which it was not), the surveyor stated he would have advised placing the retention on any loan until such time as the drains were investigated.
Home Buyer Survey – Critical Action Points
The following points were identified as needing urgent attention:
- The rainwater disposal system from the upper levels of the block should be improved, with suitable arrangements for regular cleaning and clearing.
- A qualified arboriculturist should be consulted to give advice about future management of trees before the exchange of contracts. The property in may be located in a Conservation Area and, therefore, the Local Authority should be consulted before any lopping or pruning is carried out.
- Drainage should also be instructed to undertake a CCTV survey of the drains and to quote for any repairs to the whole system and the inspection cover.
- The gas installation should be checked by the developer and there should be certification from a suitably qualified engineer for example CORGI registered, that the installation and appliances are safe for use. Occupapation of the flat shuld not occur until this is in place.
- Chimney repairs tend to be expensive due to the associated scaffolding costs. Rather then the developer passing such future costs onto the occupiers of the flats near the service charge for the block they should carry out better repair works to the upper level of the block at this time as there is still scaffolding in place.
Home Buyer Survey – Less Serious Action Points
The following points were identified as needing attention:
- The mortar flaunching, which forms the bedding to the chimney pots at the top of the stack, could not be seen and as the chimney was badly weathered, the flaunchings should be overhauled by the developer or a suitable undertaking should be given that this will occur before exchange of contracts.
- It was recommended that installation records be obtained and if the boiler has not been commissioned and tested a CORGI registered heating engineer specialising in gas fired boiler systems should be instructed to undertake a full service, including checking the ventilation to the boiler and checking the flues as found to be necessary.
- It was recommended to obtain estimates from reputable roofing contractors, before exchange of contracts, to be fully aware of the cost implications of this work, and this should be considered in terms of the likely service charge contribution, or better still the developer should undertake work now to an agreed specification.
- speak to a competent roofing contractor to inspect the roof and to provide a quotation for improvements where currently areas of flashing are lifting, where the outfalls from the roofing to openings in the walls leading to the rainwater gear are too small.
HomeBuyers Report in London – valuation and valuation considerations
The purchase price of £250,000 was seen as reasonable for a two story two-bedroom flat in this location. However if further investigations reveal for example that there are serious problems with the drains, or if the management regime for the block is not properly set up, then it was advised that the purchaser should refer the valuation back to the London Surveyor for reconsideration, as there may be a need to reduce the value depending on information received.
The surveyor's fear was that the developer had not carried out work entirely to an adequate standard for the block, and that many of the aspects of the conversion are superficial, with the long-term objective to pass high costs back to the service charge and therefore to the lessees. This may not have been reflected in the purchase price. A safe valuation if there were issues to be resolved might have been closer to the £225,000 mark.
