A Home Survey should be carried out before you buy a property
Home Buyers Surveys provide you with vital information about the structure of the building and will help you decide whether to go ahead with the purchase of the property.
What type of information is provided in the Home Survey?
Surveys provide detailed information on alterations to the property, on damp, the state of the roof and quality of flooring, amongst other things. A full inspection of the property is carried out and at the end of the survey matters requiring attention are highlighted.
What will I miss out on if I don’t obtain a Home Buyers Survey?
If you do not obtain a Home Survey before you buy the property you will not be able to make an informed decision on the purchase of the property. There will be a number of matters that will not be apparent to a buyer when they inspect a property since a prospective buyer does not walk about lifting up carpets and asking to climb on to the roof! The seller is required to reveal matters asked of them in the property information forms but there may well be matters affecting the structure of the building that are not known by the seller so will not be mentioned.
A survey will also help you negotiate a reduction in the purchase price in the event you find out that major works need to be undertaken.
If nothing else, commissioning a survey will give peace of mind.
What will happen if I exchange contracts only to discover a physical defect?
If you complete on a purchase only to find there are problems with the property which would have been revealed had you carried out a survey, you have very little recourse.
It is strongly recommended that you obtain a survey before you exchange contacts, prior to legally committing to the purchase. If you try to withdraw from the purchase after exchanging contracts on the basis of a physical defect you will lose your deposit and may be pursued for breach of contract by the seller.
Buying a property is a huge financial investment and it is simply not worth cutting corners in an attempt to save money by not obtaining a survey.
Are Home Surveys required for all types of property?
New build properties are sold with a Builder’s Warranty so you would not normally undertake a structural survey for this type of building.
It is a matter of choice for the individual; the builder’s warranty is effectively an insurance document to protect you in the event something is wrong, a Home Survey would advise you of any issues before you buy.
Where the property to be purchased is a flat or is structurally attached to another property a full survey including an inspection of the structure of the adjoining property should be carried out.
Home Surveys with Fridaysmove
You can obtain a Building Survey or a HomeBuyer Report through Fridaysmove. A full survey is recommended where there have been substantial alterations to a property and where the property is quite old. A Home Buyers Report is intended for properties which are less than 100 years old and those that have not been altered or added to significantly. Fridaysmove have teamed up with one of the UK’s leading surveyors and can offer you either type of survey at a very competitive price.
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