What should I do with a cracked internal wall?

S

Savy

Guest
My father-in-law has a run down cottage on a small site that I'm considering buying and renovating.There is a crack running down the one of the interal walls so I'm not sure if it wouldn't have to be demolished anway!!

Can anyone advice me of the steps that I should take next?
(ie, surveyors/valuers/architects/eningeers)

I'd appreciate any advice

Regards
S
 
What should I do first?

First thing would be to get a a full structural survey done (unless the surveyor just looks at it and says knock it!).
 
Re: What should I do first?

So first is structural survey.
I'm new to this so forgive me ignorance, is this a job for an engineer or an architect?

Secondly, since the bank will want an estimate of valuation, do I need to get an architect to do up plans of the changes I expect to make, adding an extra room or two,so that one of their valuers can give an estimate value on the house on completion?
S
 
Re: What should I do first?

> I'm new to this so forgive me ignorance, is this a job for an engineer or an architect?

I thought that it was a job for a structural surveyor although I'm not sure if that's a strictly accurate job title and maybe an engineer or architect is the same thing?!

> Secondly, since the bank will want an estimate of valuation,

The surveyor can probably give you a valuation as things stand. However I'm not sure if the lender will want this or a forecasted valuation once the renovations have been done.... I suspect that the lender will be more interested in the former though since they loan will be secured on the property as it stands before renovations. Ask them for clarification on this.

There are a few topics already discussing issues of major renovations and self-build projects in the Mortgages and House Buying forum which might be of interest. You may need to browse back through the older topics to find them though.
 
Re: What should I do first?

Thanks, I'll check through those posts.

I contact BOI to see what they had to say.
They told me for a house outside of Dublin it would have to have a forecasted value>85,000.
They have certain valuers around the country that they approve of making future forecasts on its value.

To do this I assumed that I would need plans done up.


S
 
Re: What should I do first?

> They have certain valuers around the country that they approve of making future forecasts on its value.

Note that a lenders valuation is usually fairly superficial and is generally done to simple check that the property is OK for use as collateral for the mortgage loan. It is not a substitue for a detailed structural survey though and if you have to pay for it you might be better off getting your own surveyor to do it as well seeing that you'll be paying him/her anyway.
 
Re: What should I do first?

My understanding was that if a house is a "ruin", is well below building regs. standards or is not habitable (e.g. does not have lavatory/electricity/running water etc) that straightforward home mortgage loans are not applicable and a development loan is the appropriate thing to go for.....perhaps check that one out!
 
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