Should you have a survey undertaken of the property you are buying? The seller is under no obligation to disclose to you any faults that the property you are purchasing may have. We therefore advise every buyer that they take a significant risk if they do not have a survey carried out before purchasing a property.
Types of Survey
- Valuation Survey – this type of survey reveals very little about the structure of the property and is usually carried out for valuation purposes only.
- Home Buyer’s Survey – this is the minimum type of survey we would recommend.
- Full Structural Survey – this type of survey should go into considerable detail with regard to the property so that you know the exact nature of any possible problem or fault in relation to it.
Which One to Choose? If you are obtaining a mortgage your lender will normally, as part of the mortgage offer process, insist that a valuation and survey of the property (which you will need to pay for) is undertaken on your behalf; if your lender allows you to choose the type of survey that is undertaken then we would recommend that you opt for, at the very least, the Home Buyer’s Survey, unless they advise that a full structural survey should be obtained; this will very much depend on the circumstances of the property you are intending to buy. You should discuss your options with your mortgage lender.
If you are a cash buyer then, again, we would recommend that, at the very least, a Home Buyer’s Survey is carried out. We can help you by providing a list of independent surveyors if needed. If you are instructing a surveyor yourself it is helpful if you can arrange for a copy of the survey to be sent to your conveyancer / solicitor at the same time as a copy is sent to you.
We have put together a Guide to Moving Home, a PDF copy of which you can download by clicking here. The Guide covers everything you need to know about the buying and selling process. Alternatively contact us here or email email@example.com to request your free, no obligation, quotation.