RW Property
RW Property
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Financial Maths EVERYONE Should Known - Part 2 - Present Value (PV)
In this video, I break down, explain and go through an example of the Present Value (PV) formula used in property and finance based jobs.
The Present Value of £1 is a basic financial principle which calculates the value of future money. As inflation slowly eats away at money, having to wait to receive a set amount of money in the future won’t have the same value now as it will then.
For example, for £1 today, you might be able to purchase a loaf of bread, but in 5 years you’ll need £2 to purchase the same loaf of bread.
The aim of the Present Value (PV) formula is to determine how much one should pay for an investment or asset today if they only expect to receive it in the future. In this video I go through an example and show you step by step on how this is achieved.
As a bonus, comment the answers to the scenarios below, and I’ll reply with a smiley face if they’re right and a sad face if they’re wrong.
A) You expect to receive a property worth £250,000 in 65 years. The current deferment rate for this type of investment over such a time period is 5%. What is the present value?
B) You want to invest into a fixed allocation fund for 5 years which guarantees an 8% yearly return. You want to have £10,000 at the end of the 5 years. How much should you invest today?
C) You own the contractual rights to receive a lump sum of £50,000 at the end of a 15 year term. You wish to sell that right to an investor. You negotiate a rate of 5%. What is that money worth today?
Lastly, I hope you enjoyed the video remember to hit the like button and subscribe to keep up to date with my new content!
Follow me on Instagram: rw__property
Credits: Ding Sound: freesound.org/people/Inspecto...
Music:
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The Clock (instrumental) by RYYZN soundcloud.com/ryyzn
Creative Commons - Attribution 3.0 Unported - CC BY 3.0
Free Download / Stream: bit.ly/al-the-clock
Music promoted by Audio Library ua-cam.com/video/Sf-DjaE_TeE/v-deo.html
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#finance
#maths
#presentvalue
#property
#investment
#knowledge
#education
#ukproperty
#propertyinvestment
Переглядів: 271

Відео

Russia's Invasion Impacts UK Property Market 2022
Переглядів 6592 роки тому
#propertymarket #ukraineinvasion #inflation Although it may seem a little selfish to sit at home and think 'how will this affect me?' whilst a war is unfolding, and Ukraine stands its ground against Russia's invasion, I think its only natural to have these thoughts, and it's definitely an important topic to discuss as the effects of Putin's actions will ripple through our lives in many differen...
Can Rent Can't Mortgage - An Explanation
Переглядів 3882 роки тому
In this video I explain some of the reasons why a bank is unlikely to lend you the same amount of money you pay your landlord in rent. There is a common misconception that if you can afford to pay X amount in rent, then the bank should look at it in a similar way and give you a mortgage equivalent to the amount you pay in rent, but that's not necessarily the case. There are lots of reasons why,...
Financial Maths EVERYONE Should Know - Part 1 - Compound Interest
Переглядів 1892 роки тому
In this video, I break down the basics of financial maths, starting with Compound Interest or sometimes known as 'The Amount of £1'. Compound interest is the starting point for a lot more complex calculations that will feature in future videos. It is used to calculate or predict the future value of an initial lump sum investment. This particular video goes through how compound interest is calcu...
My Property Journey - Growing Up, School, University, Estate Agency, Surveying and Valuation
Переглядів 3762 роки тому
In this video I talk about my property journey, how I was exposed to property from a young age, my time at school and how my subject choices affected my path and my slowly developing career since leaving University. I thought it was time I share a bit about myself, so you can get to know me a bit more and maybe give you context to my property knowledge (I don't just read info on Google and recy...
Stamp Duty Land Tax Holiday Ruined Everything
Переглядів 3553 роки тому
In this video I talk about the early effects that can be seen from the Stamp Duty holiday, and I go through some examples and explain how in some scenarios people may be negatively effected. The stamp duty holiday was initially announced in July 2020 by the Chancellor, Rishi Sunak, and since then we have seen inflated property rises around the UK, and when you really dive deep and look at the f...
Different types of residential property in the UK - EXPLAINED
Переглядів 1,5 тис.3 роки тому
In this video I talk about and explain the different types of residential properties you can commonly find in the UK. I thought this might help clear up any terminology that you’re unsure of and help you understand what types of property are available. There are the following types of properties i discuss or touch upon: Detached House - This is a property that is freestanding and not attached t...
How to BOOST your CREDIT SCORE in the UK
Переглядів 4813 роки тому
In this video I talk about what a credit score is, what influences it and i also discuss a few things that you can do to help increase it. Whilst credit is not directly related to property, it is still relevant and this can be useful for anyone trying to get a mortgage, secure a loan for home renovations or even just get getting a car for example. If you’re young, especially in your teenage yea...
How much MONEY do LETTINGS agents make in the UK
Переглядів 8 тис.3 роки тому
In this video I talk about the typical lettings agent salary in the UK, and explain how the commission structure works. I compare it to a typical estate agent commission and talk about how the lettings agency business works. This video may be insightful for anyone who is looking to get into the world of lettings. As i explain in the video, lettings can be a very rewarding career but it takes a ...
What is a Valuation Surveyor? - and when might YOU need one
Переглядів 1,9 тис.3 роки тому
In this video I explain what a valuation surveyor is and the potential scenarios in life when you might need a professional valuation done, such as to assess capital gains tax & inheritance tax, paying off help to buy equity, staircasing a shared ownership property, commercial rent reviews and lease renewals and lease extensions. These are only the "typical" scenarios ones might come across in ...
3 ways to ADD VALUE to your home
Переглядів 4363 роки тому
In this video I talk about 3 of the best ways to add value to your home or investment property. Before discuss the 3 ways, I have to explain that adding value doesn't always equal profit. I explain how reconfiguration, renovation and adding additional living space can increase your homes value. You can keep these tips in mind if you're looking to buy a property because occasionally you can nego...
UK Governments Leasehold Reform Proposals January 2021 Explained
Переглядів 2,4 тис.3 роки тому
In this video I talk about and explain some the Governments proposals to leasehold reform. On 7th January 2021 the Housing Secretary Robert Jenrick announced that “millions of leaseholders will be given the right to extend their lease by a maximum of 990 years at zero ground rent”. In a nutshell, the Government plans to change some things about leasehold property and make it less bureaucratic t...
DAMP issues in the UK - What causes damp and how you could get rid of it
Переглядів 64 тис.3 роки тому
In this video I talk about the fundamental basics behind damp issues in the UK. Damp is common problem in UK houses due to a number of reasons. In order to understand damp, we have to look at a few factors that contribute to it such as: 1. Internal humidity levels 2. External ground levels 3. Condition of the walls 4. Leaky gutters and downpipes 5. Insulation 6. Ventilation 7. Many Others. I st...
HomeBuyer Survey Vs Building Survey - What are the differences between these two RICS Home Surveys?
Переглядів 27 тис.3 роки тому
In this video I talk about the two main RICS (Royal Institute of Chartered Surveyors) Home Surveys, the HomeBuyer Survey and Building Survey. The Royal Institute of Chartered Surveyors or (RICS) is a professional body that promotes and enforces the highest international standards in almost all aspects of real estate and especially the residential sector. The RICS recommend that people buying a ...
UK Property Investing - What is Buy to Let?
Переглядів 1893 роки тому
In this video I talk about Buy to Let investment (BTL) in the UK. Buy to let investment in the UK is considered to be one of the more straight forward types of property investments because they require only a small amount of knowledge of property processes in order to make it work. Buy to let investments are a great way to way invest in property in the UK as they provide a decent amount of pass...
How much MONEY do real estate agents make in the UK?
Переглядів 27 тис.3 роки тому
How much MONEY do real estate agents make in the UK?
What is the Shared Ownership Scheme in England - A Small Guide #firsttimebuyers #helptobuy
Переглядів 2923 роки тому
What is the Shared Ownership Scheme in England - A Small Guide #firsttimebuyers #helptobuy
Collective Enfranchisement - A fancy term for BUYING YOUR FREEHOLD in the UK - Section 13 Notice
Переглядів 1,1 тис.3 роки тому
Collective Enfranchisement - A fancy term for BUYING YOUR FREEHOLD in the UK - Section 13 Notice
The NEW Help to Buy Equity Loan Scheme Guide for First Time Buyers 2021- 2023
Переглядів 1,9 тис.3 роки тому
The NEW Help to Buy Equity Loan Scheme Guide for First Time Buyers 2021- 2023
Is it even worth buying your own home?
Переглядів 3953 роки тому
Is it even worth buying your own home?
You could buy your Council Flat with a HUGE discount
Переглядів 2,4 тис.3 роки тому
You could buy your Council Flat with a HUGE discount
First Time Buyers guide to property purchase costs + quick tip on calculating budget
Переглядів 1,1 тис.3 роки тому
First Time Buyers guide to property purchase costs quick tip on calculating budget
3 Things you NEED to check before buying a flat in the UK
Переглядів 15 тис.3 роки тому
3 Things you NEED to check before buying a flat in the UK
Extending your lease - Section 42 UK
Переглядів 4,8 тис.3 роки тому
Extending your lease - Section 42 UK
Freehold vs Leasehold property in the UK
Переглядів 2,4 тис.4 роки тому
Freehold vs Leasehold property in the UK
Welcome to RW Property
Переглядів 2264 роки тому
Welcome to RW Property

КОМЕНТАРІ

  • @xxxMrBadExamplexxx
    @xxxMrBadExamplexxx Місяць тому

    How likely is for cavity insulation be a source of damp?

  • @Anonymous_1_1
    @Anonymous_1_1 Місяць тому

    Interesting video. A few points of pedantry though. No survey includes opening the taps or switching on the lights. Checks for such things as mining, flood risk, etc. are done but only for the general locality, not for the specific exact property. A good Level 2 report does usually come with photos but they arent compulsory. The stated floor area is external, not internal and is in the valuation section of a level 2 so, if you opt for the cheaper version without the valuation, you typically don't get the floor area or insurance rebuild cost either but the surveyor should have the floor area in their notes so just ask and they should happily provide it. The level 3 (building survey) inspection takes much longer than the level 2 (homebuyer survey), typically under 1hr for a level 1, around 2hrs for a level 2 and anywhere from 3hrs to 2 days (yes really!) for a level 3 depending on the property!

  • @chrisapphillips
    @chrisapphillips Місяць тому

    I'm looking at a 'share of freehold' flat that has an 83 year lease. I would normally not consider such a short lease but does the 'share of freehold' mean that I can extend the lease at minimal cost? Would I need the agreement of all the other freeholders and is that likely to cost me?

  • @EM-KeepingtheFaith
    @EM-KeepingtheFaith Місяць тому

    Hi there, brilliantly clear and useful video, thank you.

  • @TW-mp8zx
    @TW-mp8zx Місяць тому

    Im not sure if RW PROPERTY is still active but this sequence may be obsolete now and or may need an updated video.

  • @AKk-uh2kg
    @AKk-uh2kg 3 місяці тому

    U chatting patty for 70 percent

  • @Mattdon558
    @Mattdon558 3 місяці тому

    Absolutely worst start to a video you could possible have.

  • @brotherabdullah
    @brotherabdullah 3 місяці тому

    Delve more deeply into higher spiritual consciousness... ua-cam.com/video/afXuOvkizOA/v-deo.html

  • @mreverybody1150
    @mreverybody1150 4 місяці тому

    Best and most informative video Ive ever seen on damp issues!

  • @bharatthapa2736
    @bharatthapa2736 4 місяці тому

    Hi Mate, appreciate your video. I am thinking about buying leasehold house with 900+ year lease left ( it is not flat) which has £1600 service charge per year. Rental income is around £800-900 per month (it is far away from London). It is around £30K cheaper than similar size freehold house. Since last sold in 2009, it has increased only £20K in price, compared to much more increased for freehold. Do you think this £30K cheaper is still the deal braker against service charge? Your prompt response will be much appreciated.

  • @CCCP16
    @CCCP16 4 місяці тому

    Damp is caused by the cavity walls being bridged with insulation(insulation touching the outer walls inside the cavity).Cavity walls must NOT be bridged with insulation or else moisture from the damp outer walls will transmit by capillary action through the touching bridging insulation into the inner walls, making it damp inside the property. Injecting foam into the cavity walls stops the walls breathing , causing drastic condensation saturation of the inner walls inside the building. Cavity wall insulation must touch only the inner walls inside the cavity of course. If cavity wall insulation batts(panels) are to be installed, there must be a LARGE air space gap in-between the outer walls and the cavity wall insulation batts inside the cavity, this includes a substantial air space gap in-between the cavity wall insulation batts and the cavity wall tie drip point(which must point downwards in the centre of the cavity). Ask City & Guilds N.V.Q. BRICKWORK teachers in person for proof of this, tey are the authority on brickwork construction. (S.V.Q. City & Guilds BRICKWORK in Scotland).

  • @KMartha22
    @KMartha22 5 місяців тому

    Thanks for video. Can I extend a lease on which I still have 990 years left? I would like to do that to reduce the ground rent as the property is currently not mortgageable.

    • @RWProperty
      @RWProperty 5 місяців тому

      Hi K Martha, Yes absolutely, it's usually very uncommon for people to extend where they have such long leases, but in your situation it would make perfect sense. By extending your lease via the statutory route, you would essentially extinguish the ground rent. Your premium would be a capital lump sum payment of that stream of Income + of course the usual costs involved in extend your lease such as legals and valuation fees. I would definitely speak to a Valuation Surveyor to get some more advice on this. Best of Luck!

    • @KMartha22
      @KMartha22 5 місяців тому

      @@RWProperty thanks for your reply. I will wait to see if the gov does something to regulate lease extension costs. Otherwise the premium might be more than the flat if they decide they want to the ground rent for next 100 years

  • @johncranna
    @johncranna 6 місяців тому

    at 7:05 you hit upon the most likely reason for not using a structural survey/level 3 survey when buying a house. I am often asked what is the difference between a level 2 and 3 survey and I answer "about £600". If you are buying a property then both are completely visual surveys and anything picked up on a level 3 survey should also be picked up on a level 2 survey. The essence of any survey is 1)what are the main defects, 2)how do I repair them? 3)what will it cost me. The third might not be given in a level 2 survey but you can always ask the surveyor to include for cost of major repairs in a separate letter.

  • @bwghall1
    @bwghall1 7 місяців тому

    all free in Cuba. money sharks not allowed,

  • @comicbossone2411
    @comicbossone2411 7 місяців тому

    Does the surveyor ever look at the fridge?

  • @deepasreeraj1885
    @deepasreeraj1885 7 місяців тому

    Hello , Great content . We are planning to buy a house in rugby which was built in 2021(nhbc warranty remaining) by linden homes. Wanted to understand if a level 2 or level 3 for such a property . Any suggestions would be appreciated . Thanks !

  • @Gabz-Daily
    @Gabz-Daily 7 місяців тому

    Hi. I was a bit confused. So is a estate agent a negotiator? Aren't they the people who make the 2.5% from selling the house?

  • @Pyrrhic537
    @Pyrrhic537 9 місяців тому

    I'm impressed with this guy. Knowledgeable as hell and he wrotes a detailed reply to every comment .

  • @footieloose5109
    @footieloose5109 9 місяців тому

    Doesn’t help that the trade sector is awash with cowboys looking to make big bucks from unsuspecting and uninformed homeowners. I showed my internal damp problem to three different cowboys and got theee different reasons, three different prices and timescales for remedy. Rip off Britain all over.

  • @zaink7037
    @zaink7037 10 місяців тому

    Ive had a offer accepted on a flat local to me in London. Its got a 66 year lease so needs extension. Im thinking if my mortgage goes through without the lease extension needed i might skip the section 42 and save up for 2 years then pay that off. Will get hopefully a decent imcrease in equity and decide either to take that money out to regain the money i spent on the extension or use it for my next property purchase. I plan to keep this flat long term as hope the value will increase by a nice amount having been located in London and possibly live in it later in life if marriage ever comes in 😅

    • @jimbojimbo6873
      @jimbojimbo6873 5 місяців тому

      Don’t underestimate how expensive it could be

    • @zaink7037
      @zaink7037 5 місяців тому

      @@jimbojimbo6873 yeah sadly that fell through. The mortgage lender said its too risky for them and that if it did get repossessed with the low lease they don't think they'll get that money back through auction

  • @hanrealistic
    @hanrealistic Рік тому

    Hi, The House Im about the buy, had few red alerts when homebuyers survey done, but the most important one is the Dump on the walls. The others are Heating, Gas and electricity as they haven't been tested. Any suggestions will be appreciated 👍

  • @user-vq2dc7mo2d
    @user-vq2dc7mo2d Рік тому

    Easy Glazed Trickle Vents ua-cam.com/video/1--jguxYCr8/v-deo.htmlsi=A1wojGniPQuH9i8c Get Health and Safety Conscious. Avoid polluted Air, condensation, Mould, Dampness, germs, spiders and insects in your home!!

  • @Enjoyyourselfnow
    @Enjoyyourselfnow Рік тому

    Awesome video although there is a certain irony in that your spelling of “defects” is defective (defetcs) 😂👍🏻❤️

  • @SuperUnicorn27
    @SuperUnicorn27 Рік тому

    Good video thank you but please keep your hands still. Very distracting.

  • @TruthDefender
    @TruthDefender Рік тому

    Interesting

  • @krishnavenikapu9389
    @krishnavenikapu9389 Рік тому

    while buying a leasehold flat is "share/stock certificate" from the seller mandatory ? What if seller says he doesn't have it or he hasn't received when he purchased it ? Can we withdraw due to this or can we proceed ? If we proceed but without share certificate does it impact us in future when we sell it ? Kindly advise... Thank you

  • @user-gd7dp7vp9o
    @user-gd7dp7vp9o Рік тому

    How to get an internship in any estate agency in London at 17 with no prior experience

  • @nathanmiller2982
    @nathanmiller2982 Рік тому

    I have heard that the government will be extending the lease to 999 years. Do you know when this will be happening. I am viewing a flat very soon. The lease on this flat I will be looking at is 89 years, it was 125 years.

    • @RWProperty
      @RWProperty Рік тому

      Hi Nathan, thanks for the comment, that's a very good question. At the moment the government have announced that they are looking into reforms. At present the Ground Rent Act 2022 means that most new residential leases can't have a ground rent. The next stage will likely look at the qualification criteria for a lease extension and the period by which you can extend to. At the moment they say they want to change the period from a 90 year extension to a 990 year extension, but this is still in early stages of discussions and no laws have been passed. There is also no guarantee that they will even pass this. I would suggest that you look into extending your lease now because it is approaching the 80 year mark. Have a look around for lease extension surveyors in your area for further advice. Hope that helps!

    • @nathanmiller2982
      @nathanmiller2982 Рік тому

      @@RWProperty Hi and thank you for your reply. We are looking at a property this Saturday in Leicester, the lease there is 89 years, we will look to extend it if we make an offer and they accept. We will try to lower the price because of the lease extension. Do you have any advice on that? Do cash buyers have a better chance of purchase? As for the government lease extensions, I don’t expect this to happen anytime soon, new laws take time to be implemented. I think we might have an advantage of being cash buyers though. The flat looks very nice from the pictures, pictures can be deceiving sometimes due to the angles. Once again thank you for your reply, you have been very helpful. 🤝

  • @rohanmalik7013
    @rohanmalik7013 Рік тому

    If i buy leasehold property and my contract is decreased year by year like 99 years to 87 years. Then that property rates also decreased? And can we do renewal of contract?

    • @RWProperty
      @RWProperty Рік тому

      Hi Rohan, yes, a Leasehold property is a depreciating asset because of the property reverts back to the freeholder once the lease ends. Normally this isn't an issue if the lease is 'long enough', which I would say 100+ years to be comfortable, and there is little evidence to suggest that a 100 year lease is any more valuable than a 150 year lease for example. You are able to extend a lease on a flat in accordance with the Leasehold Reform Housing and Urban Development Act 1993 which adds 90 years to your unexpired lease term and reduces your ground rent to £0. You can also try to negotiate a lease extension informally with the freeholder, but it depends on whether your freehold is agreeable to doing it informally. I would recommend getting advice from a Surveyor and solicitor on this issue and be careful so that your lease does not drop to 80 years, because it will become significantly more expensive to extend once it gets to that level. Hope that's helps!

  • @Chris-sx4qw
    @Chris-sx4qw Рік тому

    Great video very easy to understand 👏👏👏

  • @enoekpene6779
    @enoekpene6779 Рік тому

    Procedure to register without joining the company

  • @enoekpene6779
    @enoekpene6779 Рік тому

    How do I join real estate as an agent without working for the company.

  • @chrisdave1619
    @chrisdave1619 Рік тому

    The opening is Dumb and so annoying 😏

  • @jamesdenton583
    @jamesdenton583 Рік тому

    Good all round content in a short video thanks 🎉

  • @oe5827
    @oe5827 Рік тому

    Really helpful

  • @2icelollys1goat
    @2icelollys1goat Рік тому

    Thank you

  • @gardenrose264
    @gardenrose264 Рік тому

    Your constant hand movements are distracting?

  • @sonamfitness
    @sonamfitness Рік тому

    Great video. Any advice on registering with the Land Registry regarding the forms? Thanks.

  • @camperera8112
    @camperera8112 Рік тому

    Very good video and good advice. As someone who has experienced damp issues in our previous property and the many damp proofing cowboys, I totally agree that you need to to treat the cause and mask it from inside. Often damp at the bottom of external facing walls is caused by high ground levels outside.

  • @ChannelScottify
    @ChannelScottify Рік тому

    your hand movements don't look natural at all

  • @goofygirl6270
    @goofygirl6270 Рік тому

    I just bought my self a fairly newish flat (under 20 years) and I did not request for a survey. Based on the condition of the flat and the previous owner history, I knew that they were careful owner of the flat and had looked after it really well. Therefore I risk it by not having a survey done. However, although the flat is ok but I wish I went in to have one final look before I signed the contract and I SHOULD have checked if everything in good working order (things like this a surveyor won't picked up anyway...) I found a few minor fault, things like: the PVC window doesn't open, the toilet doesn't flash, a tap dripping...so far (maybe I'll add some more once the cold weather kicks in).

  • @hanabegum8947
    @hanabegum8947 2 роки тому

    Highest value let was £2200pcm recently. Couple of these a month usually and about 10-12 £1200pcm lets.

  • @shiftedthemonk4875
    @shiftedthemonk4875 2 роки тому

    Hi, you mention that property consultants are essentially a fancier title for negotiators. Is this true? I have an interview next week for a property consultant position, the same company has separate negotiator roles though, so I would assume there is some difference? Could you elaborate please? Thanks

    • @RWProperty
      @RWProperty 2 роки тому

      Hi Shifted, that's a good question, and thanks for asking! In my experience, a property consultant is typically the same thing as a negotiator. This will depend on the company type. Normally where a property consultant and negotiator are the same is in a traditional estate agency model. If you are applying to a multi-disciplinary company, one where for example, there is sales, property management, lettings, surveying, investment, and other property roles, then a property consultant can be a very different type of role. I would say to have a look at the job spec and see whether it resembles a traditional negotiator role. If it's unclear, then definitely ask at the interview what the difference is, and what types of responsibilities you would have. Hope that helps!

  • @jamezday
    @jamezday 2 роки тому

    Biggest waste of money, you roll the dice, sold as seen

  • @koolkanya4897
    @koolkanya4897 2 роки тому

    Hi we are looking to buy a property that is only 6 years old. Is it worth getting a survey done since it’s new build?

    • @RWProperty
      @RWProperty 2 роки тому

      Hey Koolkanya, Thanks for the message. This is a tricky question because of course I have not seen the property. It might be worth looking into whether you have NHBC warranty on the new house. Overall, i would say that for peace of mind, spending a bit of money to make sure that your purchase is sound makes sense, even if it's a newer type build. I've seen new build properties that had poor workmanship, and you never know what problems could be lurking. Hope that puts things into perspective. Good luck with the purchase!

    • @koolkanya4897
      @koolkanya4897 2 роки тому

      Thanks for your reply. Property is still under NhBc warranty- 4 years remaining. But I think I will get level 2 survey done anyway to be safe

  • @martinstone8278
    @martinstone8278 2 роки тому

    Many thanks for uploading this video. Just what I needed for my level 3 Construction and Build learners. Great free resource.

    • @RWProperty
      @RWProperty 2 роки тому

      Hey Martin, really appreciate the feedback. Good luck with the course!

  • @Timjacks01
    @Timjacks01 2 роки тому

    Those prices sound cheap!

  • @ajbeauty230
    @ajbeauty230 2 роки тому

    Thanks very helpful

  • @DJsilversax
    @DJsilversax 2 роки тому

    Hi, I have a problem with rain water getting in an internal wall under a chimney breast. The top of the chimney breast has been removed and the roof is not letting in water. I’m totally confused as to where the water is coming from??? Any ideas?

  • @syrus3k
    @syrus3k 2 роки тому

    Additionally, if you're trying to sell it may be worth getting a survey done. We had our first buyers pull out because they had a level 3 survey done which brought up all sorts of stuff.. ugh.