Repossessed property

Discussion in 'UK Property' started by Wajr, May 4, 2018.

  1. Wajr

    Wajr New Member

    Hello

    I am interested in buying a repossessed property but the estate agent tells me I cannot do a structural survey as it must be completed quickly is this something they can demand?

    The property has some cracks I am not sure if it has structural issues or if they 're superficial but if there is anyone here that can give me advice that would be appreciated.
     

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  2. nmb

    nmb Well-Known Member

    Why would they want to stop someone doing a survey (which could be organised fairly quickly) when investing what is probably a significant amount of money? Unless the risk/reward ratio stacks up I personally would be very wary.
     
  3. Josh Caldwell

    Josh Caldwell Josh Caldwell - American Real Estate Investor

    Ok, so you cant do a formal survey. Can you hire a structural engineer to come over and give you an opinion? I find that those guys can quickly sort out an issue and even offer a solution very quickly.
     
  4. FWL

    FWL Member

    Exactly, it is not a case of taking weeks to take a look and give an opinion. If there are cracks already visible this may not be the end of the world but you do need expert guidance.
     
  5. I understand the concept of buyer beware, but actually stopping someone doing a survey after they have requested one - what have they got to hide? I would not touch it with a barge pole.
     
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