Research from LRG, whose surveying business trades as MAP Chartered Surveyors, asked buyers what would stop them making an offer on a property. Being overpriced for the area came top, at 56%, followed by major work needed at 42%. Damp or structural issues came joint third at 35%, level with a lack of outdoor space.
The difference is when each one comes to light. Price and outdoor space are obvious from the listing. Damp and structural issues usually surface at survey stage, once an offer has been accepted and both sides have spent money. Among first-time buyers, more than 40% said such issues would stop them proceeding. Among downsizers, who have typically owned several homes, the figure falls to 25%.
Ryan Mathews, Group Managing Director of Surveying at LRG, says: “Damp is a symptom rather than a single defect, and a good deal of what a surveyor reports is manageable and can be priced. Someone who has owned a home before tends to know that. A first-time buyer usually has neither that experience nor much of a contingency fund, so an unexpected report reads as a reason to walk away.”
Damp found at survey can have several causes, each with different implications for cost and urgency:
- Condensation, often linked to ventilation, heating patterns or insulation
- Water entering through defective pointing, render, roof coverings or rainwater goods
- Leaks from plumbing or heating pipework, which may be concealed
- Damp-proofing that has been bridged by raised ground levels or added render.
A survey inspection is non-invasive, so a report will often identify the issue and recommend further investigation rather than confirm a single cause.
Ryan adds: “If you are selling, the useful thing is to find out what you are dealing with before a buyer’s surveyor does. You then have three options: put it right, disclose it or reflect it in the asking price. All three leave you in a better position than losing a buyer weeks into the process.
“Surveyors are in short supply, and more than a quarter say the shortage is already critical, so whether you’re buying or selling, it’s worth arranging one early rather than assuming you can book at short notice.”
The government does intend to change how this works. Its home buying and selling reform roadmap, published in June, commits to legislating, when parliamentary time allows, for sales packs prepared before a property is listed, including searches and a property condition report. Until that happens, providing condition information upfront remains a choice rather than a requirement.
Neil Louth, Group Executive Director, LRG and CEO, Acorn Group, concludes: “Finding damp or another defect doesn’t automatically mean there is something fundamentally wrong with a property or that a sale should fall through. Many issues can be investigated and resolved, but the key is finding out what you are dealing with as early as possible.
“A good agent, working with the right surveyors and specialists, can help a seller understand the issue, obtain quotations and consider the options before it becomes an unexpected problem for a buyer. That might mean carrying out the work, providing the appropriate guarantees where available or being open about the issue and reflecting it in the sale. Giving buyers that clarity upfront allows them to make an informed decision, gives the transaction a much better chance of reaching completion and can save both buyer and seller considerable time and money.”
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