Survey Results Came Back Bad – What Now? Your Next Steps as a Buyer

A bad survey result can feel like a punch in the stomach, especially when you’ve already set your sights on a property. But just because the survey didn’t come back with glowing reviews doesn’t mean you should throw in the towel. Instead, it’s time to take a step back, evaluate the situation, and decide what comes next. Bad survey results are more common than you might think, and understanding what they mean will help you make informed decisions moving forward.

Understanding the Survey Findings

Two construction workers wearing white hard hats and brown jackets inspect a ceiling with peeling paint. One holds a pen and clipboard, pointing at the damage while the other looks on attentively.

Survey results are often filled with technical jargon that can be overwhelming. However, at their core, these surveys are designed to give you an objective view of the property’s condition. The report will outline the various issues, including structural problems, damp issues, or potential hazards. Some problems might be minor and easily fixed, while others could require extensive repairs and cost more than you anticipated.

If you’re unsure about specific terms or need survey levels explained, it’s a good idea to consult with a surveyor directly. They can help break down the findings and explain the seriousness of any issues in layman’s terms, which is essential when making a decision.

What Should You Do Next?

1. Assess the Severity of the Issues

Not all issues are equal. It’s important to categorise the problems into critical, moderate, and minor. For example, structural damage might require immediate attention and could be a deal-breaker. On the other hand, something like outdated wiring or minor damp could be fixed relatively cheaply and may not affect your decision.

Evaluate what’s been highlighted in the survey and consider whether the issues are manageable within your budget. If the problems are minor, you might still be able to proceed with the purchase, potentially negotiating a lower price to cover the costs of repairs.

2. Get Expert Advice

If the survey highlights complex or concerning issues, it might be time to call in specialists. Whether it’s a structural engineer, a damp expert, or a plumber, getting additional expert opinions will give you a clearer picture of what’s really going on. They can help you understand whether the issues are easily rectifiable or whether they’re indicative of more significant problems that could affect your investment.

3. Negotiate the Price

Once you’ve assessed the issues and have a clear understanding of how much repairs will cost, you can use this information as leverage in negotiations. A bad survey result can be an opportunity to negotiate a better deal. You can ask the seller to reduce the price to reflect the cost of repairs or, in some cases, ask them to make the repairs before finalising the sale.

However, bear in mind that not all sellers will be willing to negotiate, especially if they’re confident that the market will support their asking price. If the seller is unwilling to budge, you’ll need to decide whether the property is worth the additional investment.

4. Consider Walking Away

Sometimes, despite your best efforts to negotiate or repair the issues, the property just isn’t worth it. If the problems are too severe, or the cost of repairs far outweighs the value of the home, it might be time to walk away. The most important thing is not to rush into a decision that could lead to a costly and stressful situation down the line. It’s better to move on to a property that suits your needs without the burden of major repairs.

A Smarter Decision Awaits

In any property transaction, due diligence is key. While bad survey results can be daunting, they don’t necessarily mean the end of the road. By taking the time to assess the issues, getting expert advice, and negotiating where possible, you can turn a bad survey into a beneficial opportunity. Whether you decide to move forward or walk away, you’ll be armed with the knowledge needed to make the best decision for your future.

Remember, it’s not about letting the survey result dictate your choice – it’s about using it as a tool to help guide you towards a smarter investment.

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