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Confused by survey can you help?

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  • Confused by survey can you help?

    Hi, can anyone help please,

    I have sold my house and the buyer has had a survey carried out- it has valued my house £10k less than their offer, but oddly has said the rebuild is £25k more. How can this be? I thought that rebuild costs were less than value not more.

    It is a 15 year old detached house the only item on the survey was that it needs some attention to the roof just some loose tiles.

    If anyone one could advise that would be great, thanks

  • #2
    Re: Confused by survey can you help?

    No rebuild costs are always a lot higher than the value.

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    • #3
      Re: Confused by survey can you help?

      Thanks for your reply.

      So you think rebuild is always higher than value? Because my experience of buying houses has always been the opposite. The house I'm buying has a lower rebuild cost, as have all the houses I've brought. The estate agent and solicitors can not understand it as they have only seen this with a house that has another attached eg a semi.

      Lots of people viewing this thread please give your view really would appreicate it.

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      • #4
        Re: Confused by survey can you help?

        Well in Scotland we have Home Reports that have surveys on them. They give the market value and the rebuild value. Invariably the rebuild is higher.

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        • #5
          Re: Confused by survey can you help?

          I agree with drhouse you have to rebuild your house to get higher value when you sell your house. You can also ask for an online agent, that may help you a lot.

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          • #6
            Re: Confused by survey can you help?

            Making all your home again is a long plan, I suggest you to try some renovation to your home just give him a new look. Your home will be sold at the best price.

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            • #7
              Re: Confused by survey can you help?

              A Homebuyer's Survey is the middle job, and for the £100k property I'm thinking about I would charge around £250. The RICS (our governing body) says these are suitable for 20th century plus properties 'of traditional style and materials'. You can ask a surveyor doing one of these to look at any areas of concern you may have. The lender can arrange one of these but my advice is get an independent. It may cost a little more (with the invariable 'arrangement fee' not a lot) but you get two sets of eyes looking at the property. These follow a set format.

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