Survey can save buyers in the long run

Survey can save buyers in the long run

Moving house can be an expensive business. Often buyers are tempted to skimp on the things they don't see as totally essential. Saving the pennies might work when it comes to hiring a man with a van to do your removal, but it certainly doesn’t cut it where a survey is concerned.

Cash buyers unencumbered by the demands of a lender might be able to forego paying for a surveyor to look over their intended purchase.

That option will not be open to those who need a mortgage on their new home.

No nasty surprises awaiting

But it's not simply because the building society or bank demands one that you should give serious consideration to having a survey done. Using a surveyor registered with the Royal Institution of Chartered Surveyors (RICS) will give you peace of mind that any potential problems will be identified and flagged up to you before any deal is done, ensuring you won't be left out of pocket or left responsible for major repairs.

For example, if you choose to have a HomeBuyers Report or Building Survey carried out, your surveyor may identify repairs or issues that could lead to you being able to negotiate a lower price or to have the buyer make good any problems before contracts are exchanged.

There are several different types of survey and the one you commission is likely to depend on a number of things.

For example, if you're looking to buy an older property or one of an unusual design or construction, you might be more inclined to have a Building Survey done. This is the most extensive of the surveys and will be more detailed and exhaustive in looking at the fabric of a building, inside and out. This survey will also include advice on any required repairs.

The HomeBuyers Report will reveal any major problems but is not as extensive as a Building Survey. However, unlike the Building Survey, the HomeBuyers Report will include a property valuation. The most basic of the surveys available is a Property Valuation Report, which is simply an estimated valuation of the property and does not include any details of defects or potential repairs.

Get connected to the professionals

Whichever survey you decide is best for your needs, Fridaysmove can connect you to the best professional advice around. Our panel of nationwide surveyors are all members of the Royal Institution of Chartered Surveyors (RICS).

Call our expert sales team at Fridaysmove now on 0800 038 6446 or click here to get a quote on the survey you want.


by Frances Traynor
Thursday 11th of May 2017 04:51:33 PM