Survey

[Anthony30]

We have just recieved back from the Surveyor that as a condition of mortgage to our buyer we have to improve our retaining wall that "is not doing its job!", we only moved into the house 2 years ago and this was not picked up, we have improved the wall if anything by having it rendered and installing a new fence, is there anything I can do with reference to this mattter not being picked up on our survey?

All answers appreciated.

[dannydingbat]

Did you actually have a survey or are you talking about the lender's valuation report? If is not clear from your question whether you are now selling and the person buying it has to improve the wall or whether they are using it to negotiate some sort of advantage from you. Can you clarify?

[Anthony30]

Sorry, It is just the mortgage valuation report.
They have said the works need to be carried out as a condition of mortgage.

[dannydingbat]

If your purchasers have this indicated on their valuation, much will depend on how much they are asking to borrow. If they want 90 percent of the purchase price, the lender is likely to be a lot more picky in the works they want carried out to protect the security than if they wanted to borrow 10%. In that case, the valuer may just want to drive past in his car to make sure the house is there and that's about it. If your lender did not make an issue of this at the time you purchased, there is little you can do.