Looking at buying a flat, had it surveyed and the report for the flat is fine, but the building isn't. The surveyor is suggesting re-rendering and other works that will total c£150k between the 22 odd flats in the building. I assume that surveyors always err on the side of the negative to keep themselves covered, but how worried should I be about the report? Main concern is being able to make some money back on the place when we sell it...
It could be more than £150k if your freeholder hires a connected company to do the works and inflates the bill all over the place. Although maybe you are share of freehold so avoid these problems.
Looking at buying a flat, had it surveyed and the report for the flat is fine, but the building isn't. The surveyor is suggesting re-rendering and other works that will total c£150k between the 22 odd flats in the building. I assume that surveyors always err on the side of the negative to keep themselves covered, but how worried should I be about the report? Main concern is being able to make some money back on the place when we sell it...