Do I really need a House Survey?
Buying a home is probably the largest purchase most people will ever make. Before signing contracts and committing to a purchase, it is important to make sure you are fully aware of the condition of the property.
Is the property in a good condition? Are there any problems with the property? If yes, how serious are the problems & how urgent are the fixes needed?
To answer these questions you need the advice of an experienced, local surveyor. Dominic West is an MRICS Chartered Surveyor with a detailed knowledge of properties in the Colchester, Chelmsford, North Essex and South Suffolk areas.
Can’t I rely purely on the Mortgage Lender’s Valuation?
If you are buying a property with a mortgage, your lender will arrange for a mortgage valuation survey to be carried out and some buyers rely only on this. It is important to remember that this is being done for the benefit of the mortgage lender, to confirm that the property is adequate security for their loan. It is not a survey and usually involves no more than a brief and superficial inspection of the property followed by a tick box report. Even though you may be paying for it, this is not being done for you, the potential home owner. Having your own independent RICS HomeBuyer Report or Building Survey will mean you are fully aware of the condition of the property you are buying.
The Consumers Association and the Council of Mortgage Lenders advise you to get your own survey carried out before you buy a property and not to rely on the lenders valuation.
Having your own independent survey carried out will allow you to make an informed decision on whether to buy or not. If you proceed with the purchase, it may give you an opportunity to renegotiate the price to reflect any significant defect revealed. There is a cost to a survey, but it is relatively small when compared to the overall price of a property and could save you thousands of pounds in unexpected repair bills.
Our surveys start from £300, please contact us for a personalised quote.
What is your surveyor looking for?
- Structural Problems e.g. subsidence or movement
- Damp – rising or penetrating
- Timber Defects e.g. rot or woodworm