I've gone Sale Agreed on a property that I'm really happy with. The surveyor has just been in. He said the house is great and well-built, but he identified some "minor subsidence" on the front wall of the house (there are "settlement cracks" in the wall).
To find out the cause of the problem and to figure out what will need to be done to fix it, a structural engineer will need to do some tests. We should get the surveyor's report next week and he will include estimates of the cost of the remedial work necessary. I hope to get to talk to my solicitor tomorrow as I'm not sure how to handle this.
Who should pay for the engineer's tests? I don't own the house at this stage and would expect the seller to pay. I want to make sure that the tests are carried out by a professional.
Also, if the tests reveal that the foundations need to be underpinned, I hear this is costly and would expect for either (a) the seller to pay, or (b) the cost of the work to be deducted from the sales price. Any ideas as to whether this is the usual practice?
We are paying a lot for the house (were the highest bidders by a fair few grand in a sealed bid). Obviously, we bid on the basis of a structurally sound house. We don't want to lose it.
Also, I'm not sure when/if to tell the estate agent. I suppose this is something I need to work out with the solicitor.
All advice/insights welcome.
Thanks.